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Strategic Management Essay

Strategic Management

     IMD’s report about the World Economic Competitiveness provides a snapshot of how well economies in the global arena are competing with each other using points of measurement. However, it seems that the report is way too biased and that relevant information is somehow missing. Sure it is noted that the USA is considered a powerhouse economy but having a 100 point is something unusual considering the many economic problems the country is experiencing as well as the lingering recession. These dilemmas include but not limited to unemployment rates, major institution bankruptcies and concerns over national security. Personally, I do not agree with the report.

     Another key characteristic of the report is that it is not that very credible when it comes to accommodating all the key economic players in the global economic composition. It is given that the report only covers 55 countries but it already misses some very good markets for evaluation like Vietnam which has good growth rates since 2004 (BizAsia, 2004), Saudi Arabia and UAE.

As indicated in the report, the following factors for measurement were considered; economic performance, government efficiency, business efficiency and infrastructure. These are all acceptable but these are all macroeconomic domains. The

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report missed out reading the true pulse of the microeconomic indicators which truly provides the overall picture of the economic performance. The baseline should be the consumer and the grass root levels of measurement such as purchasing power of the population, its market confidence and actual standard of living as consumers are the real drivers of the whole economy. These factors should be added in order to measure the true world economic competitiveness of each country.


BizAsia, (2004). Vietnam’s Economic Growth Accelerates. Retrieved November 26, 2008, from BizAsia Web site: http://www.bizasia.com/asean_/c9wei/vietnams_economic_growth.htm

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