Innovative educators have an opportunity to blend face-to-face and digital learning models to advance an engaged, effective, efficient and affordable model of learning
learning dimensions, including the direction of communication, the level of interactivity, the media of communication, the constraints on the educational process, and the learning
outcomes. Recommendations for implementing new teaching and learning techniques are offered Keywords: Digital technologies; Social media; Networked society;
wrote software for journalism and communication education. These pioneers were developing a wide range of creative digital learning tools such computer algorithms for analyzing student
communication. Put in its simplest terms, it†s a broadcasting model of education. A teacher lectures to a group of students assembled in a classroom.
interconnectedness among students and teachers and features many-to-many communication and multidirectional mentorship (see Figure 1). The professor is no longer in the role of the grand
Interactive, on-demand multimedia resources such as the Khan Academy enable students to learn the basics of any discipline asynchronously (Khan academy
these constraints creates an environment for â€oelearning unleashed. †It is an educational environment that puts increasing control in the hands of the learner.
But it means educators must be willing to relinquish some of that control In addition to the constraints Long has identified,
Augmented reality (AR) is a new medium of communication (Craig, 2013. It has been in development for at least two decades,
of paleontology could use AR to study collaboratively dinosaurs in a real-world environment enhanced by 3d virtual dinosaurs that once roamed that space.
technology to help meet learning objectives in a mobile environment Research consistently demonstrates that active,
increasingly being incorporated across digital learning environments. Mobile devices such as smartphones or tablets can be used easily as well as clicker apps and other tools for active
an online learning environment (Hayes, 2011. These nonverbal cues are sometimes critical to comprehension (although there are techniques to introduce nonverbal communication in an
online learning environment In the years ahead, educators can optimize their instruction with a wide spectrum of digital tools
The New Media Consortium forecasts a variety of emerging technologies will shape education in the near and far term, ranging from MOOCS in the short-term to 3d (or 4d printing in the long
Science is a commercial venture that grew out of the collaboration of two Northwestern University
including media enterprises, willing to pay to use the system to write stories. The company†s ambition is for the algorithm to write every story for an audience of
-driven environment? †A parallel case is what might be called the canary in the AI wordsmith†s
enterprise and investigative reporting. As journalism scholar Peter Laufer (2013) notes, journalists should slow down. They should take the time to gather all the facts
Innovative educators have an opportunity to blend face-to-face and digital learning models to advance an engaged, effective, efficient and affordable model of learning in the
dimensions, including the direction of communication, the level of interactivity, the media of communication, the constraints on the educational process, and the learning outcomes
Recommendations for educational innovation based on this emerging paradigm include the following. First, educators can build on and incorporate digital resources more broadly into
personal learning environment. Retrieved on 9 june 2013 from file://C:/Users/User /Downloads/18150452. pdf
) Nonverbal communication and computer mediated communication to enhance online learning. Retrieved on 9 june 2013 from http://sloanconsortium
org/conferences/2011/aln/nonverbal-communication-and-computer-mediated -communication-enhance-online-lear Helfand, D. J. 2013.
The social conquest of general education. Journal of General education, 62 (1 43 Hollerer, T.,Feiner, S,
Journalism and Mass Communication at the University of Minnesota Kuhn, T s. 1962. The structure of scientific revolutions.
of Communication and Information, Rutgers University, New brunswick, New jersey, United states
Fueling Innovation through Information Technology in SMES *by Clay Dibrell, Peter S. Davis, and Justin Craig
structural equation modeling on a sample of 397 small and medium-sized enterprises SMES), we find evidence that (1) increases on the strategic emphasis placed on
success of entrepreneurial ventures and small firms (Fiol 1996. Research has shown that innovation stimulates ven
absence of scale economies (Lewis et al 2002). ) Considered from the resource -based view of the firm (Barney 1991
Justin Craig is associate professor of family business and entrepreneurship at Bond University Address correspondence to: Clay Dibrell, 200 Bexell Hall, College of Business, Oregon State
appropriately to their environment (Das Zahra, and Warkentin 1991) and to receive and process information more
investments (see, e g.,, Huang and Liu 2005; Bharadwaj, Bharadwaj, and Kon -synski 1999; Bonk 1996),
investments do not meet performance objectives (e g.,, Clegg et al. 1997), or that there is little or no relationship between
IT investment and firm performance e g.,, Powell and Dent-Micallef 1997 Various arguments have been put
consensus in the value of IT investment For example, Powell and Dent-Micallef 1997) suggest that IT is now so readily
lag effects between investment in tech -nology and its payoff (Sangho and Kim 2006 We acknowledge that although rela
small and medium-sized enterprises SMES) is warranted given the dramatic JOURNAL OF SMALL BUSINESS MANAGEMENT204
opportunities for innovation in the small firm. Further support for our examina -tion of IT and innovation relationships is
-ing products, processes, or services to breakthrough products, and processes or services that introduce first time features
or exceptional performance. Process definition of innovation proponents concern themselves mainly with how the interplay between events and people at
communication in facilitating successful innovation, best practices in terms of sequencing the stages of innovation, the characteristics of individuals and teams
-ucts, new services, improved product lines, and general technological improve -ment in the industry†(Slevin and Covin
investment (Nussbaum, Berner, and Brady 2005 Examinations of innovation have been divided into two major research
products or services (Camison-Zomoza Lapiedra-Alcamã, and Boronat-Navarro 2004). ) Both product and process innova
-nization to deliver products or services while product innovations are defined in this research as new products or services
introduced to meet an external user or market need (Walker 2005 IT Investment With IT€ s increasing sophistication
and usage, managers now consider the use of IT as a competitive tool used for
) As a consequence, investment in IT by firms has escalated dramatically in recent times (Devaraj and Kohli 2003.
direct relationship between investments in IT capabilities and firm financial per -formance. However, since prior studies
IT Investment, Innovation, and Firm Performance Firm performance is enhanced when there are synergies among the elements
) As such, investment in IT does not stimulate productivity and growth i e.,, firm performance) without a
demand for other products (Frishammar and HÃ rte 2005 Hypotheses SMES that can demonstrate timely
close relationships to customers, small firms can detect market niches more effi -ciently and effectively than larger firms
that met our criteria of being for-profit SMES (6†499 employees) with the key
Transportation, Communication, Utilities n=26; Retail, Hotel, Restaurant n=45; Business Services (n=58; and
Consumer Services (n=17. The age of the firms ranged from 1 to greater than
40 years with the median range of the sampled firms from 20 to 29 years.
process innovation, and IT investment regressed on the dependent variable of Figure 1 Conceptual Model H3
+IT Investment Innovation Product/Process Firm Performance Return on Assets/Return on Sales/Sales Growth/Market
The variance inflation factor (VIF) scores for the three measures were below 1. 5, which is much lower
â€oeno new lines of products, services, or programs were introduced during the past three years†versus â€oemore than half
of our product lines or services were introduced during the past three years†and (3) â€oechanges in product lines have
IT Asset Investment. Management infor -mation systems scholars (e g.,, Sakagu -chi and Dibrell 1998; Mahmood and
to look at their investments in IT assets e g.,, hardware, software, and person -nel) relative to other competitors within
(2) total IT investment;(3 number of IT employees; and (4 number of personal computers and ter
0. 88 for IT asset investment and firm financial performance. The correlation matrix indicated that multicollinearity
investment, resulting in H1 being sup -ported. The squared multiple correlation comparable to R2 in regression analysis
**3. IT Investment 2. 85 1. 04 0. 88 0. 29**0. 22 **4. Firm Performance 3. 32 0. 96 0. 88 0. 20**0. 19**0. 48
order to optimize investment in innova -tion activities, IT initiatives should be aligned with innovation.
reveals that through investment in product and process innovations, firms Table 2 Structural Model Parameter Estimates and Goodness-of-fit
Value of IT Assets â Total IT Investment 0. 15*3. 59 Producing Specialty Products â Invest in R&d 0. 17*3. 11
market expectations and opportunities Being an innovator in a fast-moving market may confer advantages associated
services marginalized by technologically superior competitors With regards to IT, in many respects our findings appear to support conten
with investments in IT enhance their firms†relative performance along two essential dimensions: profitability and
Perhaps, a lack of investment in IT over time may render the firm incapable of
opportunities for future research. With only one key respondent per firm respondents could have skewed a per
Relating to Structure, Competition and Performance of Small Technology-Based Firms, †Small Busi -ness Economics 16 (1), 37†51
Barney, J. 1991. â€oefirm Resources and Sustained Competitive Advantage, †Journal of Management 17, 99†120
Enterprises in a Concentrated Indus -try Environment, †Journal of Small Business Management 44 (1), 64†80
Blumentritt, T, . and W. M. Danis (2006 â€oebusiness Strategy Types and Innova -tive Practices, †Journal of Managerial
-grated View of Resource Investments and the Incremental-Choice Process, †Academy of Management Review 18
New Competitive Environments: The JOURNAL OF SMALL BUSINESS MANAGEMENT214 Case for Strategic Resonance, †Journal
Strategy, Systems and Environment upon Innovation in Family Firms, †Family business Review 19 (1), 1†10
Natural Environment, Innovation, and Firm Performance: A Comparative Study, †Family business Review 19 (4 275†288
-ness Economics 9 (1), 53†66 Fiol, C. M. 1996. â€oesqueezing Harder Doesn†t Always Work:
Developmental Entrepreneurship 8 (1 1†17 Hambrick, D c.,M. A. Gelekanycz, and J. W. Fredrickson (1993.
Journal of Intellectual Capital 6 (2 237†252 Izushi, H. 2003. â€oeimpacts of the Length
Corporate Entrepreneurship, †Entre -preneurship Theory and Practice l5 53†66 Johannessen, J. A j. Olaisen, and B
Enterprises, †Journal of Computer Information systems 45 (3), 88†95 King, S f, . and T. F. Burgess (2006
Dynamic Model of Enterprise System Innovation, †International Journal of Information management 26, 59†69 Kohli, R,
Investments on Firm Value: The Case of Y2k-Compliance Costs, †Journal of Information systems 14, 95†108
-Sized Enterprises, †Journal of Small Business Management 37 (2), 106†114 Nussbaum, B.,R. Berner, and D. Brady
Effect of IT Investment on Firm Per -formance, †Information Resources Management Journal 19, 43†69
) The Small Business Economy A Report to the President on Small Firms Prepared By the U s. Small Busi
in a Service Orientated Economy, †Journal of Services Research 5 (1 5†20 Trott, P,
. and A. Hoecht (2004). â€oeenter -prise Resource Planning and the Price of Efficiency: The Trade Off between
Variables, †Entrepreneurship Theory and Practice 18 (2), 47†69 Zahra, S. A d. O. Neubaum, and B
for a number of selected economies in each of the five following regions: Europe and North america, Asia and
most competitive economies. Along with the United States, three Asian economies also figure in top 10
with Singapore remaining the second-most competitive economy in the world, and Hong kong SAR and Japan
placing 9th and 10th Switzerland retains its 1st place position again this year as a result of its continuing strong performance
that offers excellent on-the-job-training opportunities both citizens and private companies that are proactive at adapting the latest technologies, and labor markets
macroeconomic environment is among the most stable in the world (8th) at a time when many neighboring
economies continue to struggle in this area While Switzerland demonstrates many competitive strengths, maintaining its innovative capacity will require
all 144 economies as well as an interactive data platform are available at www. weforum. org/gcr
skills needed for a rapidly changing global economy Finland moves up one place since last year to
a changing environment and has laid the groundwork for high levels of technological adoption and innovation
economies. Finland†s macroeconomic environment weakens slightly on the back of rising inflation (above 3
percent), but fares comparatively well when contrasted with other euro-area economies Sweden, overtaken by Finland, falls one place to
4th position. Like Switzerland, the country has been placing significant emphasis on creating the conditions for innovation-led growth.
The quality of its public institutions remains first-rate, with a very high degree of efficiency, trust, and transparency.
macroeconomic environment (13th), with a balanced budget and manageable public debt levels. These characteristics come together to make Sweden one of
the most productive and competitive economies in the world The netherlands continues to progress in the rankings, moving up to 5th place this year.
of GDP in 2011), its macroeconomic environment is more stable than that of a number of other advanced
economies. Last but not least, the quality of its infrastructure is among the best in the world, reflecting
competition (8th) and low market dominance by large companies (2nd. Germany†s business sector is very
features continue to make its economy extremely productive, a number of escalating and unaddressed weaknesses have lowered the US ranking in recent
opportunities afforded by the sheer size of its domestic economy†the largest in the world by far†these qualities
country†s macroeconomic environment (110th, down from 85th last year) represents the greatest drag on its
As the second-placed Asian economy behind Singapore (2nd), Hong kong SAR rises to 9th position
below levels found in other advanced economies 53rd). ) Improving educational outcomes will also help boost Hong Kong†s innovative capacity, which remains
high-value-added goods and services. The country†s overall competitive performance, however, continues to be dragged down by severe macroeconomic
European economies have faced a number of challenges in the past few years. Although they had been recovering from the significant difficulties brought about by the
global economic crisis, rising concerns about the sustainability of sovereign debt in Greece and a number
the region, rising inflation, and great concern about the effects of these difficulties on other parts of the
most competitive economies in the world. As described above, six of them are among the top 10.
America feature among the most competitive economies worldwide, with the United states occupying the 7th position and Canada the 14th
environment and has laid the ground for their high levels of technological adoption and innovation. A continued
compared with other advanced economies (it is ranked 7th for health and primary education and 15th for
macroeconomic environment is ranked an impressive 3rd out of all countries (up from 4th last year), driven
competition (28th), and further improving its environment for research and development Austria is ranked 16th this year, up three places
since last year, with small improvements across a number of areas. The country benefits from excellent
math and science education, topnotch management schools, and a strong propensity for on-the-job training that contribute to an overall high capacity to innovate
of competition and an environment that facilitates new business creation. Business operations are also distinguished by high levels of sophistication and
macroeconomic environment is burdened by persistent deficit spending and high public debt France is ranked 21st, down three places from
infrastructure, and communications. The health of the workforce and the quality and quantity of education
Yet the country†s macroeconomic environment continues to raise significant concern (131st), although matters seem to be moving in the right direction following the
macroeconomic environment (123rd) and financial markets (97th) remain areas of concern Despite its very delicate macroeconomic situation
which provides a large pool of skilled labor force that if properly mobilized, could help the country†s much
economies has continued relentlessly to grow, hindering the capacity of the country, its banking system, and
of companies, easier access to venture capital, and intensified collaboration between universities and the private sector would help the country to move toward a
in the world†which allows for significant economies of scale. However, Italy†s overall competitiveness
structural weaknesses in its economy. Its labor market remains extremely rigid†it is ranked 127th for its labor
is ranked 97th overall for its institutional environment The efforts being undertaken by the present government to address such concerns,
The country†s economy grew by 8. 4 percent in 2011 and benefits from considerable progress in a
institutional framework and greater competition in local markets have also been registered; these will further strengthen the country†s competitive position.
characterized by intense local competition (16th. Turkey also benefits from its reasonably developed infrastructure 51st), particularly roads and air transport, although ports
European economies, Portugal continues to suffer from a deteriorating macroeconomic environment (116th) †despite the recent progress in curbing public deficitsâ€
and a worrisome state of the banking system (119th) that has shut down access to affordable financing, affecting
97th), or venture capital (97th) for their investment projects. In addition, labor markets are considered too rigid (137th) and the level of local competition low
82nd), mainly the result of a lack of liberalization in some services. Several of the structural reforms that Portugal
has implemented recently are directed to addressing all these weaknesses. Ensuring their proper implementation will be crucial to increasing Portugal†s competitive edge
-related investments could continue to affect the capacity of firms to innovate (40th) and therefore the capacity of
the country to transform its economy and move toward higher-value-added activities 6 The Global Competitiveness Report 2012†2013:
Following a protracted economic crisis, Ukraine bounces back to 73rd position in this year†s GCI. The
healthier macroeconomic environment than in previous years. The budget deficit was cut to 2. 7 percent of
inflation was reduced, although it still remains fairly high at almost 8 percent. Overall, Ukraine maintains
Putting economic growth on a more stable footing in future will require Ukraine to address important challenges.
gains from instilling more competition into the goods and services markets (117th) and continuing the reform of the
financial and banking sector (114th Kazakhstan moves back up to 51st, a similar position to the one it held a few years ago.
level of competition (136th) †caused by inefficient anti -monopoly policies (124th) and high restrictions on trade
higher levels of productivity in the economy. Moreover as the country moves toward a more advanced
macroeconomic environment pillar, dropping to rock bottom 144th position this year. Similarly, Greece†s financial markets are assessed more poorly than in
economies have improved greatly their competitiveness over the past years. The excellent performance of some of the regional champions is reflected in the presence
where the economy ranks 8th; its solid educational performance (9th; and its sophisticated business sector 13th), which is inclined to innovate (14th.
stabilizing its macroeconomic environment, which would require fiscal consolidation to reduce the budget deficit Reversing the negative trend of recent years, the
9th) and a sound macroeconomic environment (10th with a government budget surplus above 2 percent of
economies last year, Australia retains its rank of 20th and score of 5. 1, just behind Korea.
the third lowest ratio among the advanced economies behind only Estonia and Luxembourg. The main area
the boom in commodity exports Following improvements in last year†s Report Malaysia maintains its score but drops four places
as other economies move ahead. The most notable advantages are found in Malaysia†s efficient and
competitive market for goods and services (11th) and its remarkably supportive financial sector (6th), as well as its business-friendly institutional framework.
region where many economies suffer from the lack of transparency and the presence of red tape, Malaysia
economy by the end of the decade China (29th) loses some ground in this year†s
economies by a wide margin, 2 ahead of second-placed Brazil (48th) by almost 20 ranks.
pillar, insufficient domestic and foreign competition is of particular concern, as the various barriers to entry
despite a prolonged episode of high inflation. China runs a moderate budget deficit; boasts a low, albeit
advanced economies. Moreover, China receives relatively high marks in health and basic education (35th) and enrollment figures for higher education are also on the
macroeconomic environment continues to improve†albeit marginally (27th, up one spot) †as the budget
quality (51st) and the macroeconomic environment is stable, judging by the country†s 25th rank on the related
Inflation was reduced to around 5 percent in recent years after frequent episodes of double-digit inflation in the past decade.
These positive developments are reflected in the improving although still low, country credit rating Because the country has entered the efficiency
of the economy. Additional productivity gains could be reaped by boosting technological readiness (85th), which
and ill-adapted to the needs of the economy (84th Indeed, the Indian business community repeatedly cites
Meanwhile, the macroeconomic environment (99th continues to be characterized by large and repeated public deficits and the highest debt-to-GDP ratio among
On a more positive note, inflation returned to single-digit territory in 2011 Despite these considerable challenges, India does
environment also exhibits marked improvement (36th up 18) and represents one of the strongest aspects of
environment pillar to 106th after it had recorded a 20 -place gain in the previous edition.
Inflation approached The Global Competitiveness Report 2012†2013: Country Profile Highlights 9  2012 World Economic Forum
to stem inflation, the State bank of Vietnam tightened its monetary policy, thus making access to credit
economic growth, remains a major challenge for the country despite some improvement in recent years, with particular concerns about the quality of roads (120th
Strong external demand for local commodities, especially from China and other Asian economies, coupled with good macroeconomic
management have allowed the countries in the region to put their short-and medium-term growth outlooks
on a â€oeglide path to steady growth. †3 With expected growth rates of 3. 4 percent and 4. 2 percent for 2012 and
the economic growth of China and other Asian emerging economies, and the sovereign debt crisis in Southern
Europe that is affecting the economic growth forecast in all of Europe. Against this backdrop, boosting national competitiveness by raising productivity is the best way
to ensure economic growth over the longer term and increase the region†s resilience to economic shocks
Over the past year, although several countries have made once again good progress in raising competitiveness, the region as a whole continued to
of competition, and a low capacity to generate new knowledge to strengthen R&d innovation in the region
remains the most competitive economy in Latin america A very solid macroeconomic framework (14th) with very low levels of public debt (10th) and a government
As the economy steadily moves toward a higher stage of development, many economic activities will require higher levels of skills and
innovation in order to increase their competitiveness potential Panama, at 40th place and nine ranks up since last
position as the most competitive economy in Central America. Panama leverages its traditional strengths with
the worrying inflation rate of nearly 6 percent; its efficient financial markets (9th; and its relatively high levels of
competition (31st) and openness to FDI (9th. The country has made also progress in addressing some of the most
investments (34th) appear now to contribute more to improving the country†s innovative capacity (94th), which
national economy. However, little progress is observed in Panama†s institutional setup, where public trust in politicians (101st) is low,
79th), or venture capital (94th. As a result, the business community continues to face important challenges in
engaging in new investment projects. Notwithstanding these serious weaknesses, which sharply affect economic activity, the country still benefits from well
-functioning institutions (24th) and good infrastructure 22nd). ) Moreover, a very high quality educational system 11th), a high use of ICT (32nd),
a service-oriented economy despite the low R&d investment (72nd) and technological innovation capacity 91st
Entering the top 50, Brazil goes up five positions to attain 48th place on the back of a relative improvement
inflation rate of nearly 7 percent†and the rise in the use of ICT (54th. Overall, Brazil†s fairly sophisticated
fairly easy access to financing (40th) for its investment projects. Notwithstanding these strengths, the country
for a skilled labor force. Moreover, despite increasing efforts to facilitate entrepreneurship, especially for small companies, the procedures and time to start a business
remain among the highest in the sample (130th and 139th, respectively) and taxation is perceived to be too
the competitive edge of the economy. The functioning of public institutions is assessed still poorly (100th) because
competition (100th), especially in some key strategic sectors, also hinders an efficient allocation of resources
that spills over into most sectors of the economy Finally, Mexico†s innovative potential is hampered by
the low quality of education (100th) especially in math and science (124th), the low use of ICT (81st), and the
122nd), affecting the conditions for entrepreneurship Continuing its rise of the past several years, Peru
Furthermore, as the economy moves to higher levels of development and explores ways to diversify away from its large mining sector, its low quality
As the economy continues to improve steadily, with a growth rate of 4. 5 percent, unaddressed challenges in these areas that
As Uruguay†s economy moves toward higher levels of development, some doubts arise about the ability of the traditionally praised educational
and the intensity of local competition 46th). ) However, its competitiveness is hampered by a weak public institutional setup (130th) and hindered by
investments (90th. The weak quality of its transport infrastructure (93rd) also negatively affects its national
local firms with a skilled labor force. Argentina†s weak government efficiency (142nd) and high levels of undue
by increasing domestic competition (143rd) and reducing the barriers to entrepreneurship, increase the flexibility of the labor markets (142nd),
and ease access to financing by deepening the financial market could result in important efficiency gains that could boost Argentina†s
126th) resulting in inflation rates above 20 percent and a budget deficit above 5 percent of national GDP, as well
competition (144th), excessive red tape when starting a business (141st), and high trade tariffs (125th) as well
affect the development of business opportunities. Finally although tertiary education enrollment is one of the 12 The Global Competitiveness Report 2012†2013:
Morocco move up in the rankings, while economies that were affected more significantly by unrest and political
competitive economy in the region by moving up three places to 11th position, sustained by improvements in
its macroeconomic environment, the efficiency of its markets for goods and services, and its institutional framework.
Its strong performance in terms of competitiveness rests on solid foundations made up of a high-quality institutional framework, a stable
macroeconomic environment (2nd), and an efficient goods market (10th. Low levels of corruption and undue
vulnerability to commodity price fluctuations will require diversification into other sectors of the economy and
reinforcing some areas of competitiveness. Qatar†s efforts to strengthen its financial sector appear to be
to international trade and investment Saudi arabia maintains the second-best place in the region and falls by one position from 17th to 18th
Its macroeconomic environment benefits from rising energy prices, which buoyed the budget balance into an even higher surplus in 2011.
its economy, which will require a more skilled and educated workforce. Last but not least, although some progress has been recorded over the past years, the
continues to lag behind other Gulf economies The United arab emirates gains three places in the GCI to take the 24th position.
development path will require further investment to boost health and educational outcomes. Raising the bar with
environment, particularly evident in the ease of access to venture capital (3rd), has contributed to making Israel
The Global Competitiveness Report 2012†2013: Country Profile Highlights 13  2012 World Economic Forum
educational quality†particularly in math and science 89th) †could undermine the country†s innovation
macroeconomic environment (64th), where increased budgetary discipline with a view to reducing debt levels 121st) would help the country maintain stability and
support economic growth going into the future Jordan improves by seven positions to 64th rank The country was affected considerably by the global
financial and economic crisis in recent years. GDP growth slowed down to 2. 3 percent annually in 2010 and
environment should remain on the agenda and should be accompanied by growth-enhancing structural reforms. According to the GCI, there is significant room
openness to international trade and investment, which would trigger efficiency gains in the domestic economy
as well as transfer of knowledge and technology. Tariff barriers remain high in international comparison (104th and regulatory barriers to FDI remain in place (70th.
Many economic policy challenges lie ahead for the new government to put the country on a sustainable
across the domestic economy. According to the GCI three areas are of particular importance. First, the
macroeconomic environment has deteriorated over recent years to reach 138th position mainly because of widening fiscal deficit, rising public indebtedness
domestic competition would result in efficiency gains and contribute to energizing the economy by allowing for
new entrants. And third, making labor markets flexible 135th) and more efficient (141st) would allow the country
from the global economic crisis, when GDP growth dropped to 2. 8 percent in 2009. These developments
While some African economies improve with respect to national competitiveness this year South africa and Mauritius, the two African countries
third-placed among the BRICS economies. The country benefits from the large size of its economy, particularly
by regional standards (it ranks 25th in the market size 14 The Global Competitiveness Report 2012†2013:
most competitive economy in the region. However in order to further enhance its competitiveness, the country will need to address some weaknesses
crime (90th) do not contribute to an environment that fosters competitiveness. Another major concern remains the health of the workforce, which is ranked
and a good security environment. Its labor markets are efficient, its financial markets are relatively well
although the quality of education†particularly in math and science†is perceived to be rather poor by the
of the top five economies in the region. Among the country†s strengths are its relatively reliable and
Botswana†s macroeconomic environment remains of some concern and is ranked 81st this year. However Botswana†s primary weaknesses continue to be related
functioning institutional environment (52nd), with well -protected property rights, an independent judiciary and reasonably strong public trust in politicians.
The economy is also supported by financial markets that are developed well by international standards (24th) and a relatively efficient
and a drop in inflation although it remains in the double digits) and a financial sector that is recovering from its 2009 crisis. The country
companies with opportunities for economies of scale Nigeria†s businesses are sophisticated also by regional standards (66th), with some cluster development
improvement since last year, the institutional environment does not support a competitive economy because of concerns about the protection of property rights
ethics and corruption, undue influence, and government inefficiencies. The security situation in the country continues to be dire
environment†including the dollarization of its economy in early 2009, which brought down inflation and interest
rates†the situation continues to be bad enough to place Zimbabwe among the lowest-ranked countries
improvements across many areas to lift the economy onto a sustainable growth and development path
stability is undermined further by double-digit inflation although recent efforts seem to be bearing some fruit in
competitiveness, including critical investments across all modes of infrastructure (rank 129th), establishing a regulatory framework that encourages competition
to foster economic diversification, and developing a sound financial market (134th. Also critical, in view of the country†s rapidly growing population and high
Overtext Web Module V3.0 Alpha
Copyright Semantic-Knowledge, 1994-2011