Impact Of Globalization On The Global Business Environment...

Executive Summary Competitiveness of a country is defined as the set of institutions, policies and factors that contribute to the level of productivity (World Economic Forum, 2015). Numerous empirical evidences show that productivity is the most fundamental element in explaining the level of prosperity of companies and Americans. So the United States is competitive to the extent that corporations operating in this country are able to achieve success in the global economy while supporting increasing wages and high living standards for the average citizen (HBS U.S Competitiveness Project, 2015). In short, competitiveness is a shared prosperity that firms win and citizens thrive. US competitiveness ranking experienced a fluctuation during†¦show more content†¦In addition, Professor Michael Porter’s opinion, which links the weakening position to the lack of a coherent national strategy, is included. In the final part, external environment analysis is applied to provide a view on national priorities. SWOT analysis is then conducted to address important aspects that should be improved. Because a new president will be elected in 2016, top five issues, which the new president needs to pay special attention to improve the domestic and international business environment, are listed. 1. Current Situation of US Competitiveness GCI is used to reveal the pivotal aspects and their interrelations that determine the level of current and future prosperity (World Economic Forum, 2015). The aim of analyzing GCI is to establish a mutual understanding of the key strengths and weaknesses of a country, so that policymakers, enterprises and society representatives can work together to enhance opportunities and address challenges. The framework of GCI (Figure 1) is showed to indicate what pillars are involved for assessment. Figure 1: The GCI Framework Source: World Economic Forum The latest GCR reveals that the United States retains the 3rd place compared to 2014. Figure 2 demonstrates the respective ranking of twelve pillars, which constitute the GCI as a whole. Figure 2: The Ranking of the United States in Each Pillar Source: GCR, 2015 From the shared prosperity perspective, unfortunately, the United