REF 160614 In collaboration with A t. Kearney Fostering Innovation-driven Entrepreneurship in Europe 3 Contents Preface 3 Preface 5 Executive Summary 7 Section One:
in addition to 1, 132 survey respondents and numerous global and European experts from academia and civil society.
then Scale up A European Agenda to Foster Innovation-Driven Entrepreneurship 11 22 44 57 1 Innovation Fostering Innovation-driven Entrepreneurship in Europe 5 Executive Summary
innovation and employment opportunities they present. Figure 3 shows that SMES in different European countries have performed very heterogeneously,
or join a market innovator start-up or SME as an employee Start up Assessing the success factors for an entrepreneur in establishing an innovative organization and making it a viable venture,
and number of employees, in particular identifying and realizing win-win opportunities for collaboration between market leaders and market disruptors Employment (2014e relative to 2008 level) Valueadded (2014e relative to 2008 level) 0. 9 1
including licensing, tax and labour market regulations. Market framework refers to the availability of necessary inputs
advisers and enablers who transfer know-how and create opportunities for growth. Figure 4: A Life cycle Model for Entrepreneurship6 Source:
and only 41%perceived them as somewhat or very favourable (see Figure 7). These results are more positive than many experts engaged in the project expected.
or the willingness and ability to take the risk of joining an innovative start-up as an employee. 12 Figure 10 details a conceptual model for the factors influencing
%Concern about financial benefits is greater among respondents potentially joining an entrepreneurial venture as an employee (37%)than those starting their own venture (29%.
Employees of the Finnish start-up Rovio had developed 51 programmes, none of which was a commercial success. After going through this, their 52nd programme, Angry Birds,
with a clear majority in the European union (EU) now favouring work as an employee. Another is the prevailing attitude towards entrepreneurs
%since 2007 The EU is home to 19.0 million micro companies (those with less than 10 employees),
Many European venture capital experts say the sector is stronger than the long-term data indicate. Today
Martin Vollmer, Chief Technology Officer, Clariant Developing culture and organization Promoting an R&d setup with specific organizational structures integrating employees, partners and customers Barclays Open Innovation:
and Israel, led by a senior executive with enough credibility in the company to champion collaboration cases.
Second, BT involves senior executives early in the collaboration process, by organizing meetings with selected companies during dedicated off-site sessions.
Running an entire division aimed at providing digital services to UK SMES helps senior executives understand the perspective of smaller companies
A team of 15 ABB employees collaborated with Fastned to develop the concept. DSM/Provexis:
Could you estimate what proportion of SME employees in your country are working in innovation-driven SMES?
labour market interventions to improve access to talent, and projects to improve framework conditions for crossstakeholder or cross-regional collaboration between various actors.
grow faster and employ more workers. Fostering Innovation-driven Entrepreneurship in Europe 35 Toomas Hendrik Ilves President of Estonia The role of innovation-driven entrepreneurship in your economy:
Enterprise Estonia has established a network of salaried professional export advisers residing in major target markets,
The growth outlook and ambitiousness of enterprises is expressed by entrepreneurs'expectations concerning the increase in employee numbers as well as their ambitions on the international market.
expectations of early-stage enterprises concerning a fast increase in employee numbers (i e. more than 10 employees in five years and over 50%of growth) are lower,
remaining lower when compared with the respective indicators in Latvia and Lithuania. Key activities on an agenda to foster innovation-driven entrepreneurship in Europe:
poor links between universities and the labour market don't help. We should be giving tax incentives to start-ups.
they might encourage a corporate culture with spin outs and employee circulation; and they might view being located in a strong and innovative entrepreneurial ecosystem as a long-term value.
the continued improvement of our European workers'skills and knowledge; the access to adequately priced financing, in particular for SMES;
Recent successes by The netherlands in improving the conditions for innovation-driven entrepreneurship are the top sector approach, valorization grants and an action plan for skilled technical workers.
the importance of this issue decreases while the relevance of other difficulties increases, including severe competition, availability of skilled employees and managers,
Strengthening this connection has an effect for both the next generation labour force and the education system. Teachers and professors can be trained as entrepreneurship developers to inspire
Partner to encourage active engagement in start-ups as employees and as founders. Individual attitudes and skills can be influenced effectively by direct experience in a start-up environment, for example through internship programmes or employment opportunities.
These experiences build on school-based programmes and often lead to employees founding their own businesses.
Connecting and partnering to help entrepreneurs start up As outlined above, a key challenge for European entrepreneurs is accessing critical resources,
and direct it towards venture markets Supporting entrepreneurs to access skilled employees to join their ventures Providing mentoring to new founders Providing more opportunities for potential entrepreneurs to obtain practical experience in an innovative business
Global Shapers Hub, Lisbon We should create a board of mentors and advisers for young European changemakers.
among members about immigration or labour market issues, and on identifying avenues for consensus with external partners on the protection of personal data?
the first question for executives will be whether they can understand the direction and forces underlying current shifts.
please email europeentrepreneurship@weforum. org. 56 Enhancing Europe's Competitiveness Endnotes 1. The entrepreneurial life cycle is defined here as including the factors influencing an individual to turn an idea into economic activity or join a start-up as an employee,
while an equal number say it is challenging to find workers with the skills they need.
Papers, No. 9 Fostering Innovation-driven Entrepreneurship in Europe 59 Acknowledgements Adviser and Knowledge Partner:
-YE Europe Alumni Research+Data Insights, a Hill+Knowlton Strategies company David Iannelli, President Amber Ott, Senior Account Supervisor YES Dimitris Tsigos, President
Gavin Patterson, Chief executive officer Jean-Marc Frangos, Managing director, External Innovation, BT Technology, Services and Operations European Institute of technology Daria Golebiowska-Tataj, Executive Board member
Young Global Leader Luis Alvarez Satorre, Chief executive officer, Global Services, BT, United kingdom Tobias Schmidtke, Senior Consultant, A t. Kearney, Germany Bohuslav Sobotka
, European Investment Fund, Luxembourg Fostering Innovation-driven Entrepreneurship in Europe 61 Jeroen Van der veer, Executive Member of the Governing board, European Institute of Innovation and Technology, Hungary;
Co-Director, Centre on China Innovation, China Europe International Business school (CEIBS), People's republic of china Krisztina Z Holly, Adviser, National Advisory Council for Innovation and Entrepreneurship
, USA Daniel Isenberg, Professor of Entrepreneurship Practice, Babson Executive Education, Babson college, USA Guriqbal Singh Jaiya, Director-Adviser, Innovation and Technology Sector, World
Intellectual Property Organization (WIPO), Geneva Eric Kacou, Cofounder, Entrepreneurial Solutions Partners (ESPARTNERS), USA Harkesh Kumar Mittal, Adviser and Head, National Science
Acknowledgements 5 Executive Summary 7 1. Introduction 8 2. City Competitiveness in the Global economy: Megatrends 12 3. City Competitiveness:
Also, a group of informal advisers provided comments to help us structure the work appropriately.
and Director, European Centre for International Political economy, Brussels The Competitiveness of Cities 5 Executive Summary Cities have been the engines of productivity and growth throughout history,
2. Policies and regulation of the business environment (what to reform) Getting the basics right Stable and prudent macroeconomic policies, efficient and simple taxation, a flexible labour market, openness to trade and foreign
and academic and other experts to focus on competitiveness at the city level; and, to encourage a rich global dialogue on this issue
one of cities connected across land borders, seas and oceans through the exchange of goods and services, foreign direct investment, migrant and short-term workers,
Foreign economic policies that position a city in the global economy through international trade, finance, foreign direct investment (FDI), foreign workers and tourism, all as part of clusters of economic activity linked to global value chains 3
there is a shortage of highly skilled workers and a skills mismatch with the evolving needs of the private sector.
Creating one connected regional labour market linked to a multimodal transportation network should give a boost to the region's ability to attract investors.
Santiago is implementing a complete streets programme that brings in urban planning experts to oversee new design concepts
with its new modern university, hold conferences on major issues of the day, with experts in science, math and letters.
and experts in diabetes the third, and so on. Intellectual stimulation could be added to spiritual activities. Medina could recapture an intellectual leadership role,
investment and labour force but is also a regional hub for a diverse set of industries.
including a huge, available labour force. The city is the principal financial centre in Nigeria, with Africa's second largest stock exchange and a wide range of financial services
generating employment opportunities, shaping the public infrastructure service provision and enhancing other vital facilities like education.
which is coupled well with government policies, good infrastructure facilities and other favourable factors like skilled workers.
The government-linked corporate sector is extremely powerful in domestic capital, land and labour markets. This has crowded probably out domestic private-sector development.
The labour market is flexible, without the intrusive and bureaucratic employment legislation that characterizes the West and many developing countries.
it is extremely open to migrants and foreign workers across the skill spectrum. Foreigners are about 40%of the population high even by global-city standards,
Migrant workers have become a neuralgic issue. This is a result of a big expansion in migrant numbers during the past decade, with concomitant pressures on wages, housing, public transport and schools.
The government has responded to a public backlash with tighter caps on low-wage migrant workers, as well as encouraging firms to employ more Singaporeans in middle-class occupations, especially in finance and IT.
Businesses now complain of labour shortages and rising costs. This hits SMES particularly hard, as they are most reliant on low-wage labour.
as could workers, but linked to Singapore in seamless supply chains. However, this depends on good and improving Singaporean-Malaysian relations at the political level.
However, generous city employee benefits and pensions continued, and have increased Detroit's legacy costs to a total of $3. 5 billion in unfunded pension liabilities and $5. 7 billion in unfunded retiree healthcare liabilities.
and healthcare for retired workers) has wrought a devastating price on Detroit's workforce, government, businesses and financial stakeholders.
using the same players (methods, consultants, initiatives, among others), but only some of the approaches succeed.
with only 4. 5%of the national labour force. The GDP per capita in Nuevo León is $19, 900, the highest in Mexico,
and, employment opportunities, education and health services attracted a large population to these growing cities. The economic downturns that affected the growth of Mexico's GDP in the early 1980s were an incentive for the main industries in Monterrey to enter international markets.
While economic conditions are strong due to its business and working population, the city suffers from a fragile institutional framework.
the perception of corruption (80%of the population believes that more than half of the public employees are corrupt;
Human resources policy Ningbo continues to focus on occupational skills training for migrant workers to provide it with sufficient labour resources
500 foreign experts working in Ningbo, which has become one of the most preferred cities in China for overseas talent, entrepreneurship and innovation.
with a sanitary inspector, two subinspectors and three supervisors, who in turn employed round-the-clock cleaning staff.
Besides, this had the dual effect of letting lower-level workers know that those senior to them were also trying to solve the same problems.
Rao realized that there were many workers who were simply coasting on a government job and salary.
Disciplinary action was taken against 1, 200 workers, from sweepers to senior staffers, some of whom were asked also to take voluntary retirement.
understood the resentment ordinary citizens felt towards SMC workers, and did not appear to be much of an obstacle.
Such consultation and meaningful delegation of decision-making powers was empowering to middle management. In addition to improve the experience for citizens,
i e. stable and prudent macroeconomic policies, efficient and simple taxation, a flexible labour market, openness to trade and foreign direct investment, simple and transparent domestic business regulation.
Stable and prudent macroeconomic policies, efficient and simple taxation, a flexible labour market, openness to trade and foreign direct investment, simple and transparent domestic business regulation, a safety
Indeed, rivers that were transport arteries for goods in the industrial age have become the setting for liveable spaces for tourists and knowledge workers in the post-industrial age.
Azua, President and Chief executive officer, Enovatinglab, Spain Catalina Crane, High Presidential Adviser for Public and Private Affairs, Office of the President of Colombia, Colombia Mohamed El Dahshan
, Regional Economist, African Development Bank, Côte d'ivoire Janamitra Devan, Independent Adviser, Strategy and Leadership, USA Gao Changlin
Murphy is co-author of the World bank guide Clusters for Competitiveness, an adviser to competitiveness initiatives in 15 countries,
He is a Member of the Global Agenda Council on Competitiveness. 5. This case study was written by Jose Antonio Torre Medina, Rogelio Cortes and Marcia Campos, Adviser for Government and Public Policy and Professor
The three case studies from Malaysia, Philippines and Republic of korea (Penang, Cebu and Busan, respectively) were written by Janamitra Devan, Independent Adviser, Strategy and Leadership, USA.
Professor Klaus Schwab Executive Chairman Professor Xavier Sala-i-Martín Chief Advisor of The Global Competitiveness and Benchmarking Network Espen Barth Eide Managing director
and Cecilia Serin 1. 3 The Executive Opinion Survey: 85 The Voice of the Business community by Ciara Browne, Attilio Di Battista, Thierry Geiger,
Albania Institute for Contemporary Studies (ISB) Artan Hoxha, President Elira Jorgoni, Senior Expert Endrit Kapaj, Expert Algeria Centre de Recherche en
Director Gerhard Schwarz, Coordinator, Survey Department Azerbaijan Azerbaijan Marketing Society Fuad Aliyev, Deputy Chairman Ashraf Hajiyev, Consultant Bahrain Bahrain Economic
& Investment Randall Krantz, Strategy Adviser Bosnia and herzegovina MIT Center, School of economics and Business in Sarajevo, University of Sarajevo Zlatko Lagumdzija, Professor Zeljko Sain, Executive director Jasmina
Selimovic, Assistant Director Botswana Botswana National Productivity Centre Letsogile Batsetswe, Research Consultant and Statistician Baeti Molake, Executive director Phumzile Thobokwe, Manager, Information
Bulgaria Center for Economic Development Adriana Daganova, Expert, International Programmes and Projects Anelia Damianova, Senior Expert Burkina faso lnstitut Supérieure des Sciences de
National Competitiveness Council Jadranka Gable, Advisor Kresimir Jurlin, Research Fellow Cyprus European University Cyprus, Research center Maria Markidou-Georgiadou, Consultant Bambos
General manager Tegenge Teka, Senior Expert Finland ETLA The Research Institute of the Finnish Economy Markku Kotilainen, Research director Petri Rouvinen, Research director Vesa Vihriälä, Managing director
PDR Enterprise & Development Consultants Co.,Ltd Latvia Stockholm School of economics in Riga Arnis Sauka, Head of the Centre for Sustainable Development Lebanon Bader Young Entrepreneurs
Technical and Marketing Director and Analyst Habib Sy, Director Général Mauritius Board of Investment, Mauritius Manaesha Fowdar, Investment Executive, Competitiveness Khoudijah Maudarbocus-Boodoo
Associate Nepal Centre for Economic Development and Administration (CEDA) Ramesh Chandra Chitrakar, Professor, Country Coordinator and Project Director Ram Chandra Dhakal, Executive director and Adviser
Consultant Maria Elena Baraybar, Project Assistant Luis Tenorio, Executive director Philippines Makati Business Club (MBC) Isabel A. Lopa, Deputy Executive director Michael B
Chan, Assistant Managing director, Planning & Policy Cheng Wai San, Director, Research & Statistics Unit Teo Xinyu, Executive, Research & Statistics Unit 2014 World
Economic policy Officer Kenneth Woei-A-Tsoi, Executive director Swaziland Federation of Swaziland Employers and Chamber of commerce Mduduzi Lokotfwako, Coordinator, Trade & Commerce Nyakwesi Motsa, Administration & Finance
Hassen, Executive Counsellor Turkey TUSIAD Sabanci University Competitiveness Forum Izak Atiyas, Director Ozan Bakis, Project Consultant Sezen Ugurlu, Project Specialist
The Partner Institutes are instrumental in carrying out the Executive Opinion Survey which provides the foundation data of this Report as well as imparting the results of the Report at the national level.
Catalina Crane, High Presidential Adviser for Public and Private Affairs, Office of the President of Colombia, Colombia;
Janamitra Devan, Independent Adviser, Strategy and Leadership, USA; Gao Changlin, Deputy Director-General, Exchange, Development and Service Center for Science and Technology (STTC), People's republic of china;
and services to market in a secure and timely manner and facilitate the movement of workers to the most suitable jobs.
Workers who are ill cannot function to their potential and will be less productive. Poor health leads to significant costs to business,
as sick workers are often absent or operate at lower levels of efficiency. Investment in the provision of health services is thus critical for clear economic,
Basic education increases the efficiency of each individual worker. Moreover, often workers who have received little formal education can carry out only simple manual tasks
and find it much more difficult to adapt to more advanced production processes and techniques,
today's globalizing economy requires countries to nurture pools of well-educated workers who are able to perform complex tasks
which is neglected in many economies for ensuring a constant upgrading of workers'skills. Sixth pillar:
Labor market efficiency The efficiency and flexibility of the labor market are critical for ensuring that workers are allocated to their most effective use in the economy
Labor markets must therefore have the flexibility to shift workers from one economic activity to another rapidly and at low cost,
Efficient labor markets must also ensure clear strong incentives for employees and efforts to promote meritocracy at the workplace,
Taken together these factors have a positive effect on worker performance and the attractiveness of the country for talent,
Furthermore, the GCI uses data from the World Economic Forum's annual Executive Opinion Survey (the Survey) to capture concepts that require a more qualitative assessment or for
This two-year process will gather insights from high-level experts in academia along with practitioners and business leaders to identify the improvements needed to capture the evolving nature of the drivers of competitiveness.
The labor market balances employee protection with flexibility and the country's business needs (1st. Public institutions are among the most effective and transparent in the world (7th),
Respondents to the Executive Opinion Survey 2014 cited the difficulty of finding qualified workers as the single most problematic factor for doing business in the country.
The recent acceptance by Swiss citizens of an initiative aimed at limiting the ability of European union (EU) workers to immigrate by reintroducing quotas could exacerbate the problem
and firing workers. In addition, the participation of women in the labor force (88th) is one of the lowest among OECD members.
strong labor-employer relations; and a very high percentage of women in the labor force. Despite the drop of one position that leads to Belgium's 18th place in the rankings, the country has improved slightly its competitiveness score thanks to a better macroeconomic performance with a lower public deficit,
although cooperation in labor-employer relations and the flexibility of wage determination are perceived more favorably (52nd and 43rd, respectively) than in last year's edition,
the cost associated with making a worker redundant is equivalent to 58 weeks of salary (139th).
this in turn could result in more employment opportunities for the country's rapidly growing population. Despite the abundance of low-cost labor, India has a very narrow manufacturing base.
For example, the vibrant business-process outsourcing sector employs 3. 1 million workers, or 0. 6 percent of India's 482 million strong labor force (but accounts for 6 percent of GDP).
and a poor education system (126th) that fails to provide workers with the necessary set of skills for an economy in transition toward more knowledge-based activities.
and continuing significant tensions in labor-employer relations (144th). Raising education standards and making its labor market more efficient will
which introduced additional checks and balances on executive power, Kenya has registered also improvements in the institutions pillar (now at 78th, up from 123rd five years ago).
and labor-employer relations are reasonably good (57th). Moreover, Senegal hosts relatively good ports (58th),
although concerns about the quality of labor-employer relations (97th), hiring and firing practices (78th),
or employees'skills development strategies. If businesses could be engaged in this way, the positive spill over effects of their investments could result in higher societal gains.
Why Do Some Countries Produce So much More Output Per Worker than Others? The Quarterly Journal of Economics 114 (1): 83 116.
Indicators that are derived not from the Executive Opinion Survey (the Survey) are identified by an asterisk(*)in the following pages.
50%7. 01 Cooperation in labor-employer relations 7. 02 Flexibility of wage determination 7. 03 Hiring and firing practices 7. 04 Redundancy costs
Since 2010, the World Economic Forum in collaboration with a multi-stakeholder Advisory board of international experts (Box1) has embarked on an effort to integrate the concept of sustainability into its competitiveness work.
Findings from the Executive Opinion Survey (the Survey) show that the stringency of regulations has increased by more than 0. 1 points in the last 10 years,
World Economic Forum, Executive Opinion Survey, multiple years. Note: Full Survey questions are provided here: Stringency of environmental regulations:
ozone levels below federal air quality standards have a positive impact on productivity (a 10 parts per billion decrease in ozone concentrations raises worker productivity by 4. 2 percent).
These workers usually receive less on-the-job training than their counterparts in stable positions, thus reducing the overall level of human capital.
creates productive employment opportunities for the majority of the country's population, and reduces poverty. 4 Reductions in excessive income inequality have emerged also as a prerequisite for inclusive growth,
When workers have access only to short-term contracts or vulnerable employment, they are exposed to negative shocks
since informal workers are more vulnerable to concerns related to job loss, old age, maternity, disability, or illness.
A workforce that is less integrated leaves workers more vulnerable to concerns related to job loss old age, maternity, disability, or illness.
It depresses lifetime earnings for unemployed workers taking a toll on their health and reducing the potential of the next generation to succeed.
the Forum has continued to work closely with experts at Yale's Center for Environmental law and Policy (YCELP), with the Center for International Earth science Information Network (CIESIN) at Columbia University's Earth Institute,
and the welfare system is available only to some full-time urban workers. The country does not report data related to youth unemployment or vulnerable employment;
For example, Germany performs well on the social sustainability pillar despite an existing trend of decreasing wages in Germany where, according to the Federal Employment agency,
The Impact of Pollution on Worker Productivity. NBER Working Paper No. 17004. Cambridge, MA: National Bureau of Economic Research. 2014 World Economic Forum 1. 2:
STRUCTURE OF THE SUSTAINABILITY PILLARS The computation of the sustainability components is based on an arithmetic mean aggregation of scores from the indicator level. b Variables that are derived not from the Executive Opinion Survey (the Survey) are identified by an asterisk(*)in the following pages.
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report.
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report.
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report.
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report.
S09 Vulnerable employment Proportion of own-account and contributing family workers in total employment 2012 or most recent Vulnerable employment refers to unpaid family workers and own-account workers
as a percentage of total employment that is, the share of own-account and contributing family workers in total employment.
A contributing family worker is a person who is selfemployed in a market-oriented establishment operated by a related person living in the same household,
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report.
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report.
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2014 World Economic Forum 2014 World Economic Forum The Global Competitiveness Report 2014 2015 85 CHAPTER
1. 3 The Executive Opinion Survey: The Voice of the Business community CIARA BROWNE ATTILIO DI BATTISTA THIERRY GEIGER TANIA GUTKNECHT World Economic Forum Since 1979 and its first report on the competitiveness of European industry
The Executive Opinion Survey (the Survey) is the longest-running and most extensive survey of its kind.
The Executive Opinion Survey 86 The Global Competitiveness Report 2014 2015 Table 1: The 42 languages in which the 2014 Survey was available Albanian Arabic*Armenian Azeri Bosnian Brazilian Portuguese Bulgarian Burmese Chinese*Croatian*Czech*Danish Estonian*English
Descriptive statistics of the Executive Opinion Survey 2014 Source: International monetary fund, World Economic Outlook database, April 2014 edition.
The Executive Opinion Survey this year. The Survey was completed not to minimum requirements in Benin, Brunei Darussalam,
and are based on best practices in the field of survey administration and on discussions with survey experts.
Country/economy coverage of the Executive Opinion Survey n Previous coverage n 2014 additions 2014 World Economic Forum First component*Second component:
The Executive Opinion Survey 88 The Global Competitiveness Report 2014 2015 2014 World Economic Forum Table 2:
The Executive Opinion Survey 2014 World Economic Forum 1. 3: The Executive Opinion Survey 90 The Global Competitiveness Report 2014 2015 administered in a variety of formats,
including face-to-face or telephone interviews with business executives, mailed paper forms, and online surveys. For energy, time,
A brief history of the Executive Opinion Survey and The Global Competitiveness Report The Global Competitiveness Report began as a research project by Professor Klaus Schwab in 1979.
and is today known as the Executive Opinion Survey (the Survey). Over the years, it has undergone a number of revisions and audits,
The Executive Opinion Survey undertaken two audits since 2008 as well as yearly reviews of both the Index and the Survey.
An initial external audit by a team of survey experts from Gallup was performed in 2008.
The Executive Opinion Survey 92 The Global Competitiveness Report 2014 2015 Box 3: Insights from the Executive Opinion Survey 2014 The respondents of the Executive Opinion Survey largely reflect the characteristics and diversity of the economic fabric of the countries covered.
They also demonstrate the efforts undertaken by the Partner Institutes to follow the sampling guidelines.
the Survey aims to collect the opinion of executives from those smaller companies (Figure 1a).
Indeed, small enterprises, defined here as those with fewer than 50 employees, account for 27 percent of the sample in Advanced Economies and Emerging and Developing Asia and for 48 percent in Sub-saharan africa,
they are executives who have taken previously part in the Survey (Figure 1d). This improves the comparability of data across years. 0 20406080100 Sub-saharan africa Middle east, North africa,
Company size by number of employees 1c: Revenues generated by exports 1b: Company ownership 1d:
The Executive Opinion Survey the standardized score or z-score method, which indicates by how many standard deviations any one individual answer deviates from the mean of the country sample.
The Executive Opinion Survey 94 The Global Competitiveness Report 2014 2015 time. As part of this analysis, we run an inter-quartile range test,
We also conduct interviews of local experts and consider the latest developments in a country
The Executive Opinion Survey measure, we will continue to investigate the situation over the coming months in an effort to improve the reliability of the Survey data in this country.
the Executive Opinion Survey has become the largest poll of its kind, this year collecting the insight of more than 14,000 executives into critical drivers of their respective countries'development.
This scale could not be achieved without the tremendous efforts of the Forum's network of over 160 Partner Institutes in carrying out the Survey at a national level.
In your country, to what extent do companies invest in training and employee development? 1=not at all; 7=to a great extent.
The Executive Opinion Survey 96 The Global Competitiveness Report 2014 2015 NOTES 1 The World Economic Forum's Global Competitiveness and Benchmarking Network would like to acknowledge e-Rewards Market research
for carrying out the Executive Opinion Survey 2014 in the United states, following the detailed sampling guidelines.
as well as France. 2 Company size is defined as the number of employees of the firm in the country of the Survey respondent.
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 7...37 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 7...37 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 6...130 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 2...142 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 5...135 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 7...42 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 9...109 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 4...12 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...66 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 1...20 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...104 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 9...33 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 2...78 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...62 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 7...120 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...69 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 7...123 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 9...111 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...94 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 4...138 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 2...74 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 6...128 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 0...26 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 9...114 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 6...127 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 6...48 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 4...58 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 6...47 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 4...13 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 7...40 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 7...126 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 8...36 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 5...52 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...6. 0...3 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 5...55 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...95 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 2...81 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 9...28 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...97 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 0...27 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 6...129 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 9...113 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 7...38 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 2...80 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 2...19 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...85 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 9...108 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 2...18 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 7...124 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...73 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 8...116 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 7...41 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 5...9 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...71 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 4...11 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...90 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 6...46 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 5...134 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 4...16 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 2...76 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 4...137 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 2...75 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 6...6 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 6...44 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 5...49 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...70 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 6...132 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 5...56 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...88 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 1...21 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 8...35 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 2...82 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...102 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...103 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...87 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 4...15 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...63 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 2...77 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...68 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 4...14 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 5...53 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 8...34 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 4...136 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 9...31 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 6...45 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...86 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...92 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...106 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 2...83 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 6...131 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 8...115 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...101 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 2...141 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 5...7 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 5...8 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...67 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 4...61 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 8...4 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 0...25 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 9...107 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 5...51 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 4...59 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...64 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 9...29 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...100 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...65 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 9...30 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 7...5 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 7...125 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...89 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 0...24 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 5...50 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 4...57 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 3...140 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...99 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...84 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...6. 1...2 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...105 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 7...121 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...2. 5...144 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...93 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 7...39 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 7...122 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 3...72 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 4...17 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...6. 2...1 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 1...23 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 5...54 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 8...117 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 9...32 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 9...110 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 5...133 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 8...118 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...96 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 1...91 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 8...119 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 5...10 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...5. 1...22 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 7...43 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 4...139 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...2. 9...143 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 2...79 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 0...98 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...4. 4...60 7. 02 Flexibility of wage determination...
Labor market efficiency 7. 01 Cooperation in labor-employer relations...3. 9...112 7. 02 Flexibility of wage determination...
Data Tables The Global Competitiveness Report 2014 2015 395 EXECUTIVE OPINION SURVEY INDICATORS In the tables, indicators derived from the World Economic Forum's Executive Opinion Survey
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
483 7. 01 Cooperation in labor-employer relations...484 7. 02 Flexibility of wage determination...485 7. 03 Hiring and firing practices...
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
components of the following Executive Opinion Survey question: In your country, how common is it for firms to make undocumented extra payments or bribes in connection with (a) imports and exports;(
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report.
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 1 Landlocked 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report.
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
2. 6 5. 08 Extent of staff training In your country, to what extent do companies invest in training and employee development?
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
2. 5 7. 01 Cooperation in labor-employer relations In your country, how would you characterize labor-employer relations?
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
1. 4 7. 03 Hiring and firing practices In your country, how would you characterize the hiring and firing of workers?
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
2. 3 7. 06 Pay and productivity In your country, to what extent is pay related to worker productivity?
1=not related to worker productivity; 7=strongly related to worker productivity 2013 14 weighted average SOURCE:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
Data Tables The Global Competitiveness Report 2014 2015 489 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7
2. 0 7. 07 Reliance on professional management In your country, who holds senior management positions?
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
International labour organization, Key Indicators of the Labour markets, 8th Edition; national sources 2. 2: Data Tables The Global Competitiveness Report 2014 2015 493 2014 World Economic Forum 2014 World Economic Forum Pillar 8 Financial market
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
1=not willing at all senior management takes all important decisions; 7=very willing authority is delegated mostly to business unit heads and other lower-level managers 2013 14 weighted average SOURCE:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:
In the case of indicators derived from the Executive Opinion Survey (the Survey), the full question and associated answers are provided.
World Economic Forum, Executive Opinion Survey Technical Notes and Sources 1. 02 Intellectual property protection In your country, how strong is the protection of intellectual property,
World Economic Forum, Executive Opinion Survey 1. 03 Diversion of public funds In your country, how common is diversion of public funds to companies, individuals,
World Economic Forum, Executive Opinion Survey 1. 04 Public trust in politicians In your country, how would you rate the ethical standards of politicians?
World Economic Forum, Executive Opinion Survey 1. 05 Irregular payments and bribes Average score across the five components of the following Executive Opinion Survey question:
World Economic Forum, Executive Opinion Survey 1. 06 Judicial independence In your country, to what extent is the judiciary independent from influences of members of government, citizens, or firms?
World Economic Forum, Executive Opinion Survey 1. 07 Favoritism in decisions of government officials In your country, to what extent do government officials show favoritism to well-connected firms and individuals when deciding upon policies and contracts?
World Economic Forum, Executive Opinion Survey 1. 08 Wastefulness of government spending In your country, how efficiently does the government spend public revenue?
World Economic Forum, Executive Opinion Survey 2014 World Economic Forum Technical Notes and Sources 538 The Global Competitiveness Report 2014 2015 1
World Economic Forum, Executive Opinion Survey 1. 10 Efficiency of legal framework in settling disputes In your country, how efficient is the legal framework for private businesses in settling disputes?
World Economic Forum, Executive Opinion Survey 1. 11 Efficiency of legal framework in challenging regulations In your country, how easy is it for private businesses to challenge government actions
World Economic Forum, Executive Opinion Survey 1. 12 Transparency of government policymaking In your country, how easy is it for businesses to obtain information about changes in government policies
World Economic Forum, Executive Opinion Survey 1. 13 Business costs of terrorism In your country, to what extent does the threat of terrorism impose costs on businesses?
World Economic Forum, Executive Opinion Survey 1. 14 Business costs of crime and violence In your country, to what extent does the incidence of crime
World Economic Forum, Executive Opinion Survey 1. 15 Organized crime In your country, to what extent does oriented organized crime (mafia racketeering,
World Economic Forum, Executive Opinion Survey 1. 16 Reliability of police services In your country, to what extent can police services be relied upon to enforce law and order?
World Economic Forum, Executive Opinion Survey 1. 17 Ethical behavior of firms In your country, how would you rate the corporate ethics of companies (ethical behavior in interactions with public officials
World Economic Forum, Executive Opinion Survey 1. 18 Strength of auditing and reporting standards In your country,
World Economic Forum, Executive Opinion Survey 1. 19 Efficacy of corporate boards In your country, how would you characterize corporate governance by investors and boards of directors?
World Economic Forum, Executive Opinion Survey 1. 20 Protection of minority shareholders'interests In your country, to what extent are the interests of minority shareholders protected by the legal system?
World Economic Forum, Executive Opinion Survey 1. 21 Strength of investor protection Strength of Investor Protection Index on a 0 10 (best) scale 2013 This indicator is a combination
World Economic Forum, Executive Opinion Survey 2. 02 Quality of roads In your country, how would you assess the quality of roads?
World Economic Forum, Executive Opinion Survey 2. 03 Quality of railroad infrastructure In your country, how would you assess the quality of the railroad system?
World Economic Forum, Executive Opinion Survey 2. 04 Quality of port infrastructure In your country, how would you assess the quality of seaports?(
World Economic Forum, Executive Opinion Survey 2014 World Economic Forum Technical Notes and Sources The Global Competitiveness Report 2014 2015 539 2
World Economic Forum, Executive Opinion Survey 2. 06 Available airline seat kilometers Airline seat kilometers (in millions) available on all flights (domestic
World Economic Forum, Executive Opinion Survey 2. 08 Mobile telephone subscriptions Number of mobile telephone subscriptions per 100 population 2013 A mobile telephone subscription refers to a subscription to a public
and employee stock options. For Australia, Belgium, Canada, Hong kong SAR, Iceland, New zealand, and Sweden, government debt coverage also includes insurance technical reserves,
World Economic Forum, Executive Opinion Survey 4. 03 Tuberculosis incidence Estimated number of tuberculosis cases per 100,000 population 2013 Incidence of tuberculosis is estimated the number
World Economic Forum, Executive Opinion Survey 4. 05 HIV prevalence HIV prevalence as a percentage of adults aged 15 49 years 2013 HIV
World Economic Forum, Executive Opinion Survey 4. 07 Infant mortality Infant (children aged 0 12 months) mortality per 1, 000 live births 2013
World Economic Forum, Executive Opinion Survey 4. 10 Primary education enrollment rate Net primary education enrollment rate 2012 The reported value corresponds to the ratio of children
World Economic Forum, Executive Opinion Survey 5. 04 Quality of math and science education In your country, how would you assess the quality of math and science education?
World Economic Forum, Executive Opinion Survey 5. 05 Quality of management schools In your country, how would you assess the quality of business schools?
World Economic Forum, Executive Opinion Survey 5. 06 Internet access in schools In your country, how widespread is Internet access in schools?
World Economic Forum, Executive Opinion Survey 5. 07 Local availability of specialized research and training services In your country, to what extent are specialized high-quality
World Economic Forum, Executive Opinion Survey 5. 08 Extent of staff training In your country, to what extent do companies invest in training and employee development?
World Economic Forum, Executive Opinion Survey Pillar 6: Goods market efficiency 6. 01 Intensity of local competition In your country, how intense is competition in the local markets?
World Economic Forum, Executive Opinion Survey 6. 02 Extent of market dominance In your country, how would you characterize corporate activity?
World Economic Forum, Executive Opinion Survey 6. 03 Effectiveness of antimonopoly policy In your country, to what extent does antimonopoly policy promote competition?
World Economic Forum, Executive Opinion Survey 6. 04 Effect of taxation on incentives to invest In your country,
World Economic Forum, Executive Opinion Survey 6. 05 Total tax rate This indicator is a combination of profit tax(%of profits),
profit or corporate income tax, social contributions and labor taxes paid by the employer, property taxes, turnover taxes,
World Economic Forum, Executive Opinion Survey 6. 09 Prevalence of trade barriers In your country, to what extent do non-tariff barriers (e g.,
World Economic Forum, Executive Opinion Survey 6. 10 Trade tariffs Trade-weighted average tariff rate 2013 An applied tariff is a customs duty that is levied on imports of merchandise
World Economic Forum, Executive Opinion Survey 6. 12 Business impact of rules on FDI In your country, to what extent do rules
World Economic Forum, Executive Opinion Survey 6. 13 Burden of customs procedures In your country, how efficient are the customs procedures (related to the entry and exit of merchandise?
World Economic Forum, Executive Opinion Survey 6. 14 Imports as a percentage of GDP Imports of goods and services as a percentage of gross domestic product 2013 Total imports is the sum
World Economic Forum, Executive Opinion Survey 6. 16 Buyer sophistication In your country, how do buyers make purchasing decisions?
World Economic Forum, Executive Opinion Survey Pillar 7: Labor market efficiency 7. 01 Cooperation in labor-employer relations In your country, how would you characterize labor-employer relations?
1=generally confrontational; 7=generally cooperative 2013 14 weighted average Source: World Economic Forum, Executive Opinion Survey 7. 02 Flexibility of wage determination In your country, how are wages generally set?
1=by a centralized bargaining process; 7=by each individual company 2013 14 weighted average Source:
World Economic Forum, Executive Opinion Survey 7. 03 Hiring and firing practices In your country, how would you characterize the hiring and firing of workers?
World Economic Forum, Executive Opinion Survey 7. 04 Redundancy costs Redundancy costs in weeks of salary 2013 This indicator estimates the cost of advance notice requirements, severance payments,
and penalties due when terminating a redundant worker, expressed in weekly wages. For more details about the methodology employed
World Economic Forum, Executive Opinion Survey 7. 06 Pay and productivity In your country, to what extent is pay related to worker productivity?
1=not related to worker productivity; 7=strongly related to worker productivity 2013 14 weighted average Source:
World Economic Forum, Executive Opinion Survey 7. 07 Reliance on professional management In your country, who holds senior management positions?
1=usually relatives or friends without regard to merit; 7=mostly professional managers chosen for merit and qualifications 2013 14 weighted average Source:
World Economic Forum, Executive Opinion Survey 7. 08 Country capacity to retain talent Does your country retain talented people?
World Economic Forum, Executive Opinion Survey For more details, refer to Chapter 1. 3 of this Report 2014 World Economic Forum Technical Notes
World Economic Forum, Executive Opinion Survey 7. 10 Female participation in the labor force Ratio of women to men in the labor force 2012 This measure is the percentage of women aged
International labour organization, Key Indicators of the Labour markets, 8th Edition; national sources Pillar 8: Financial market development 8. 01 Availability of financial services In your country, to what extent does the financial sector provide a wide range of financial products and services to businesses?
World Economic Forum, Executive Opinion Survey 8. 02 Affordability of financial services In your country, to what extent are financial services affordable for businesses?
World Economic Forum, Executive Opinion Survey 8. 03 Financing through local equity market In your country,
World Economic Forum, Executive Opinion Survey 8. 04 Ease of access to loans In your country, how easy is it to obtain a bank loan with only a good business plan and no collateral?
World Economic Forum, Executive Opinion Survey 8. 05 Venture capital availability In your country, how easy is it for entrepreneurs with innovative
World Economic Forum, Executive Opinion Survey 8. 06 Soundness of banks In your country, how would you assess the soundness of banks?
World Economic Forum, Executive Opinion Survey 8. 07 Regulation of securities exchanges In your country, how effective are the regulation and supervision of securities exchanges?
World Economic Forum, Executive Opinion Survey 8. 08 Legal rights index Degree of legal protection of borrowers
World Economic Forum, Executive Opinion Survey 9. 02 Firm-level technology absorption In your country, to what extent do businesses adopt new technology?
World Economic Forum, Executive Opinion Survey 9. 03 FDI and technology transfer To what extent does foreign direct investment (FDI) bring new technology into your country?
World Economic Forum, Executive Opinion Survey 9. 04 Internet users Percentage of individuals using the Internet 2013 Internet users refers to people using the Internet from any device (including mobile phones) during the year under review.
World Economic Forum, Executive Opinion Survey 11.02 Local supplier quality In your country, how would you assess the quality of local suppliers?
World Economic Forum, Executive Opinion Survey 11.03 State of cluster development In your country, how widespread are developed well and deep clusters (geographic concentrations of firms, suppliers, producers of related
World Economic Forum, Executive Opinion Survey 11.04 Nature of competitive advantage What is the competitive advantage of your country's companies in international markets based upon?
World Economic Forum, Executive Opinion Survey 11.05 Value chain breadth In your country, do companies have a narrow or broad presence in the value chain?
World Economic Forum, Executive Opinion Survey 11.06 Control of international distribution To what extent are international distribution
World Economic Forum, Executive Opinion Survey 11.07 Production process sophistication In your country, how sophisticated are production processes?
World Economic Forum, Executive Opinion Survey 11.08 Extent of marketing In your country, to what extent do sophisticated companies use marketing tools and techniques?
World Economic Forum, Executive Opinion Survey 11.09 Willingness to delegate authority In your country, how do you assess the willingness to delegate authority to subordinates?
1=not willing at all senior management takes all important decisions; 7=very willing authority is delegated mostly to business unit heads and other lower-level managers 2013 14 weighted average Source:
World Economic Forum, Executive Opinion Survey Pillar 12: Innovation 12.01 Capacity for innovation In your country, to what extent do companies have the capacity to innovate?
World Economic Forum, Executive Opinion Survey 2014 World Economic Forum Technical Notes and Sources The Global Competitiveness Report 2014 2015 545 12.02
World Economic Forum, Executive Opinion Survey 12.03 Company spending on R&d In your country, to what extent do companies spend on research and development (R&d?
World Economic Forum, Executive Opinion Survey 12.04 University-industry collaboration in R&d In your country, to what extent do business
World Economic Forum, Executive Opinion Survey 12.05 Government procurement of advanced technology products In your country, to what extent do government purchasing decisions foster innovation?
World Economic Forum, Executive Opinion Survey 12.06 Availability of scientists and engineers In your country, to what extent are scientists and engineers available?
World Economic Forum, Executive Opinion Survey 12.07 PCT patent applications Number of applications filed under the Patent Cooperation Treaty (PCT) per million population 2010-2011 average
Ms Browne also oversees the process of implementing the Executive Opinion Survey which is conducted worldwide and completed by around 15,000 business executives.
Her responsibilities include managing the network of Partner Institutes worldwide and driving the Executive Opinion Survey process.
built relationships with C-suite executives of partner companies; and oversaw the operation-management responsibilities of a team of coordinators.
He is a consultant on growth and competitiveness for a number of countries, international institutions, and corporations.
The data used in the Report are obtained from leading international sources as well as from the World Economic Forum's annual Executive Opinion Survey, a unique source that captures the perspectives of more than 14,000 business leaders on topics related to
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