Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

From our discussion on markets in class, we arrived at the idea of developing a competitiveness study for Telecoms, Power, and Health in the economy.

From our discussion on markets in class, we arrived at the idea of developing a competitiveness study for Telecoms, Power, and Health in the economy. The competitiveness of a sector allows an industry to maintain and improve its position in the global market. Sectoral competitiveness can thus be seen as a measure of "fitness" in performance and its outlook. The key is a sector's relative productivity and its ability to create value-added. There are two main dimensions to this:

  • Vertical, relating to the "fitness" of the sector's internal dynamics vis--vis the global marketplace, i.e., firm-level strategies and business models.
  • Horizontal, relating to the "fitness" of the business environment, i.e., regulatory environment and other framework conditions.

Developing effective competitiveness policies and programmes at the sector level demands an in-depth understanding of the complex factors that drive the competitiveness of economies, sectors, and clusters. It also requires a strong appreciation of how public agencies can best use scarce resources to maximise opportunities and respond to challenges.

Your group must provide in-depth insight into the drivers of competitiveness for the sector to design effective growth policies. Your work should providea clear and up-to-date understanding of the sector's competitiveness (as it is now and how it might develop), allowing policymakers to knowledgeably engage with the sector in developing horizontal and vertical policy.

Your task includes the following:

  • Identifying the critical aspects of the sector (performance, structure, processes, and inputs) that can be described by reliable data sources or other available documentation.
  • Identifying the competitive position of the sector in relation to leading competitors.
  • Identifying which horizontal aspects (e.g., regulation, labour force skills, infrastructure, energy supply, etc) are critical issues for the sector.
  • Presenting the strategic outlook for the sector, identifying threats, opportunities, and policy challenges/issues.

To rigorously examine the competitiveness of the sector in the framework we have identified above and also to design a feasible policy strategy to enhance and sustain sector competitiveness, the following shall guide the composition of the sector competitiveness report:

  • The collection and presentation of data
  • A synthetic literature reviews.
  • Assessment of the sector's competitive position in Nigeria and continental markets
  • Analysis of regulatory and other framework conditions which have an impact on the competitiveness of the sector.
  • A strategic outlook

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Business Risk Approach

Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg

8th edition

978-0538476232

Students also viewed these Economics questions