wettbewerbsfähiger

Wettbewerbsfähiger is a German adjective that translates to "competitive" in English. It describes the ability of a person, company, product, or even a nation to succeed in a competitive environment. This success is typically measured by factors such as price, quality, innovation, efficiency, and market share.

In an economic context, a wettbewerbsfähiger company is one that can offer its goods or services at prices that are attractive to consumers while still maintaining profitability. This often involves optimizing production processes, managing costs effectively, and developing unique selling propositions. Factors contributing to a company's competitiveness can include technological advancements, skilled labor, access to resources, and strong management strategies.

For individuals, being wettbewerbsfähiger might mean possessing skills and qualifications that are in demand in the job market, allowing them to secure employment or advance in their careers. In a broader sense, a nation can be described as wettbewerbsfähiger if its overall economic framework, infrastructure, and policies enable its industries and citizens to thrive in the global marketplace. The concept is dynamic, as what constitutes competitiveness can change over time due to technological shifts, evolving consumer preferences, and global economic trends.