wettbewerbsfähige

Wettbewerbsfähig is a German adjective that translates to competitive in English. It describes the ability of a company, product, service, or even an economy to perform well and succeed in a market environment where other entities are also vying for customers and resources. Being wettbewerbsfähig implies that one possesses advantages or qualities that make it more attractive or cost-effective than its rivals.

This competitiveness can stem from various factors. For businesses, it might involve offering lower prices, superior quality, innovative features, better customer service, or more efficient production processes. In a broader economic context, a country's wettbewerbsfähigkeit can be influenced by its infrastructure, labor costs, regulatory environment, technological advancement, and educational system.

The concept of wettbewerbsfähig is crucial for strategic decision-making. Companies constantly strive to enhance their wettbewerbsfähigkeit to maintain or increase market share, profitability, and long-term survival. Governments often implement policies aimed at boosting their nation's wettbewerbsfähig on a global scale. Ultimately, being wettbewerbsfähig is about meeting and exceeding the demands of the market in a way that surpasses the offerings of competitors.