Contemporary concept of business competitiveness

Abstract

Business competitiveness topic is widely discussed among researchers in various science disciplines and areas. Industries and companies have been forced to adapt their activity to various changes that have a significant impact on their competitiveness. The authors revise contemporary concept of business competitiveness. Competitiveness provides direction for long-term economic growth, contributes to increasing asset value and competitive advantages, attracts more investment. Therefore, this study aims to assess how well the existing literature on competitiveness. The competitive situation of the market allows for a company to retain its customers for the long term, and to this end, providing quick and flexible service and ensuring the availability of products are of key importance. Existing research is largely based on a variety of innovative models and indicators, with a relatively small difference being the assumed operational relationship of competitive factors at different scales. Many researchers describe competitiveness at the national level. Scott and Lodge (1985) describe competitiveness as the intrinsic ability of a product to create, produce, distribute, service and/or produce a product in international trade. The tumultuous beginning of the this century has brought new challenge to companies and industries. The main criteria and sources of competitiveness at the country, industry and company level are updating the connotations of competitiveness. Individual competitiveness frameworks and models were reviewed and classified. After, the paper includes bibliometric literature study on the competitiveness in the period 2021-2023 and examines trends, as well as prospects for future research. The findings of the bibliometric analysis confirmed that research on competitiveness is mainly focused on the global market and company level.