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Competitiveness in Business

Course developer

Prior knowledge

Ekon2108, Management of Innovation

EkonB003, Macroeconomics

EkonB004, Microeconomics

EkonB013, Risk Management

Replaced course

VadZ3042 [GVAD3042] Competitiveness in Entrepreneurship

Course abstract

The study course provides knowledge about competitiveness as a prerequisite for the successful development of a company by studying and analysing conditions, factors, types, stages of development and strategies of competitiveness. The study course deals with a complex, methodological evaluation of the competitiveness of an enterprise, as well as gives an insight into the competitiveness assessment at the national and regional level.
The aim of the study course is to provide knowledge, understanding and skills about competitiveness and its importance in business development, competences in assessing the competitiveness of an enterprise.

Learning outcomes and their assessment

Knowledge:
1. Demonstrate the knowledge of the classification of national and regional competitiveness indicators, the use and analysis of competitiveness indexes in international research – practical assignment 1.
2. Demonstrate the knowledge of the terminology, substance and role of competitiveness in the context of entrepreneurship – test 1.
3. Demonstrate the knowledge of value chain stages and their role in competitiveness and in developing a competitive advantage – discussion in class, practical assignment 2.
Skills:
1. Identify the factors of competitiveness affecting an industry and analyse the effects of the industry development cycle on competitiveness – exam assignment.
2. Independently analyse the factors of business competitiveness by employing the PEST method, M.Porter’s five forces model and M.Fishbein’s model, identify a competitive advantage for an enterprise and determine a strategy for the expansion of the enterprise – exam assignment.
3. Analyse the situation, determining the kind of competitiveness, its advantages and opportunities for development, identify and classify competitiveness factors for a group enterprise – practical assignment 2, a case study.
4. Choose and substantiate strategies for developing the competitive advantage by analysing processes in an enterprise, assess the application of competitiveness analysis methods for case studies – test 2.
5. Responsibly plan the completion of the assignments given – exam assignment.
6. Engage in group work and reasonably communicate on how to perform assignments and achieve results – practical assignments.
7. Present an analysis of the competitiveness of an enterprise and the results – exam assignment, practical assignments.
Competence:
1. Independently apply competitiveness assessment methods and reasonably interpret the assessment results – exam assignment, practical assignments.
2. Identify and classify the kinds of competitiveness, competitive advantages, opportunities for development and competitiveness levels, analyse problems and justify the decisions made – tests, practical assignments.

3. Assess the competitiveness of an enterprise and find solutions to raising the competitiveness – practical assignments.

Course Content(Calendar)

1.Interpretation and application of terms “competition” and “competitiveness”, importance in entrepreneurship (lectures – 2 hours, practical work – 1 hour).
2.Legal regulation of competitiveness in Latvia (lecture – 1 hour).
3.Assessment of the competitiveness of the country and the region, competitiveness indexes (lecture – 1 hour, practical works –2 hours).
4.Assessment of the external environment’s impact (lecture – 1 hour, practical works – 2 hours).
5.Factors influencing the competitiveness of the sector, their identification and analysis (lectures – 2 hours, practical works – 2 hours).
6.Industry environment’s impact on the competitiveness of the company (lectures – 2 hours, practical works – 2 hours).
7.The concept of competitive advantage and its creation, audit of enterprise’s resources and skills (lectures – 2 hours, practical works – 2 hours).
8.Strategies for developing competitive advantage (lecture – 1 hour, practical works – 2 hours).
9.Test 1 – concept of competitiveness, types, factors influencing competitiveness in external environment, regional and national competitiveness (practical work – 1 hour).
10.Determining the competitiveness of products (lecture – 1 hour, practical work – 1 hour).
11.Analysis of service and personnel competitiveness – identification and classification of factors (lecture – 1 hour, practical works – 2 hours).
12.Importance of competitiveness of company management, role of value chain in enterprise competitiveness (lecture – 1 hour, practical works – 2 hour).
13.Determination of the company's competitiveness position in the industry (lectures – 2 hours, practical works – 2 hours).
14.Analysis of types of competitiveness (lecture – 1 hour, practical works – 2 hours).
15.Test 2 – factors affecting internal environment, levels of competitiveness, strategies for development of competitive advantage (practical work – 1 hour).
16.Analysis of company's competitiveness – presentation of independent assignment (practical works – 2 hours).

In part-time studies, all topics indicated for full-time attendance are implemented, but the number of contact hours is 1/2 of the number of hours indicated.

Requirements for awarding credit points

A cumulative mark earned during the semester consists of the following pieces of assessment:
-20 points for 2 practical assignments – practical assignment 1 (10 points) on the topic: analysis of national competitiveness indices; practical assignment (10 points) on the topic: analysis of the enterprise's value chain;
-30 points for 2 tests – test 1 (15 points) on the topics: concept of competitiveness, types, factors affecting competitiveness in the external environment, regional and national competitiveness; test 2 (15 points) on the topics: influencing factors of the internal environment, levels of competitiveness, competitive advantage development strategies;
-50 points for exam assignment – analysis of the company's competitiveness using competitiveness assessment methods (30 points), presentation of the exam paper (20 points).
10 points are equal to one point on a 10-point marking scale.

Practical, independent tasks un exam must be submitted and presented only within the time set for them.

Description of the organization and tasks of students’ independent work

Study of course materials (lectures and video materials) and literature (basic literature and supplementary literature) in the development of practical assignments and the independent assignment and in the process of preparation for tests.
Preparation of practical assignments: practical assignment 1 – analysis of the international competitiveness report, evaluation of Latvia's competitiveness, preparation of the presentation; practical assignment 2 – development and analysis of the company's value chain, preparation of the presentation.
Preparation of independent assignment (assessing the enterprise's competitiveness) and presentation.

Criteria for Evaluating Learning Outcomes

The exam mark is cumulative.

Compulsory reading

1. Caune J., Dzedons A. Stratēģiskā vadīšana. Rīga: Lidojošā zivs, 2009, 384 lpp.
2. Caldwell C., Anderson V.A. Competitive Advantage: Strategies, Management and Performance. New York: Nova Science Publishers, 2017, p. 256.
3. Latvijas uzņēmumu konkurētspējas uzlabošanas izpētes starpdisciplinārie aspekti. Red. Škapars R., Šumilo Ē. Rīga: LU Akadēmiskais apgāds, 2017, 117 lpp.
4. Parnell J.A. Strategic management. Theory and practice. 4th edition. Washington: Library of Congress Cataloging-in-Publication Data, 2013, 664 p.
5. Dong-sung Cho, Hwy-Chang Moon. From Adam Smith To Michael Porter: Evolution Of Competitiveness Theory (Extended Edition). Singapore: World Scientific. 2013, p. 324.

Further reading

1. Pauli G. Zilā ekonomika. Rīga: Zvaigzne ABC, 2018, 320 lpp.
2. Das T.Kl. Behavioral Strategy for Competitive Advantage. Charlotee, NC: Information Age Publishing, 2018, p. 243.
3. Kalve I. Apseglot pārmaiņu vējus: Stratēģiskā un pārmaiņu vadība. Rīga: Biznesa augstskola “Turība”, 2005, 295 lpp.
4. Porter M. The Competitive Advantage of Nations. New York: The Free Press, 1990, p. 896.
5. Herolds D.M., Fedors D.B. Mainiet veidu, kā vadāt pārmaiņas. Rīga: Lietišķās informācijas dienests, 2009, 198 lpp.

Periodicals and other sources

1. World Economic Forum. Global Competitiveness Reports, pieejams: www.weforum.org.
2. Heritage Foundation. The Wall Street Journal. Index of Economic Freedom, pieejams: http://www.heritage.org.
3. Institute for Management Development. World Competitiveness Yearbooks, pieejams: http://www.imd.ch/wcc/.

Notes

Field professional specialization study course for the ESAF professional Bachelor programme “Business and Enterprise Management”.