Trinidad, Elaisa Niña Marie D.

BSA 4-1

Keynote on Competitiveness by Michael Porter

For Michael Porter, to achieve prosperity, there has to be a shared

understanding of what really creates prosperity and shared understanding

among stakeholders for them to collaborate in creating those circumstances.

We have to have a shared understanding of what success looks like, because

each of us has different ideology and perspective.

If we want progress in our standard of living and to become more

prosperous, we need to increase our competitiveness. There is

competitiveness if we can do things simultaneously. For an economy to be

competitive, firms should be able to compete and the standard of living of the

average people should also be improving. If not, if only the firms being able to

compete or if only citizens has a lot of benefits, it is not competitiveness.

In order to create an environment where both business and citizens

prosper, we have to be productive. Being productive is being able to create a

lot of output per day of work. To maintain competitiveness, we need resources,

macroeconomic competitiveness and micro-economic competitiveness.

 Having a good business environment, provides the necessary conditions

for growth.