Module 8 • Operations management
Case study
South Africa improves competitiveness South Africa improved its ranking in the World Economic Forum’s (WEF’s) latest Global Competitiveness Index, climbing four places to 50th out of 142 countries surveyed, while claiming top spot for regulation of exchanges and second place for soundness of banks.
The annual Global Competitiveness Report was first released in 1979 and has since evolved into the prime authority on relative competitiveness among most of the world’s nations.
Respondent numbers have grown over the years, with the 2011-12 report covering 142 countries and some 14 000 respondents.
Gains in key areas South Africa’s overall ranking, after slipping nine places last year – from 45 to 54 – recovered to 50 in 2011-12, thanks mainly to impressive gains in accountability of private institutions, strength of investor protection and technological readiness. The country was ranked: • 1st for regulation of securities exchange. • 1st for strength of auditing and reporting standards. • 2nd for soundness of banks. • 2nd for efficacy of corporate boards. • 3rd for protection of minority shareholders’ interests. • 3rd for availability of financial services. • 4th for financing through the local equities market. • 7th for effectiveness of anti-monopoly policy. • 8th for legal rights.
“Since these factors are categorised by the World Economic Forum as sustainability issues, their superior ratings are indicative of a highly positive long-term outlook for the South African economy,”
2nd in Africa; 2nd among BRICS
Among its fellow BRICS nations, South Africa is ranked second only to China (in 26th place), ahead of Brazil (53rd), India (56th) and Russia (66th).
Matola said the narrative of the WEF report clearly indicated trust in South Africa, at a time when trust was returning only slowly in many parts of the world. “We could have fared considerably better had we not lost further ground in the categories in which we scored poorly last year – labour policies, health and education.
“We need to improve our rankings in these criteria if we are to continuously move up the rankings.”
34% market data, 66% perception Matola said the results were “an indication that the reality and perception of competitiveness in South Africa is improving at a pace ahead of that of many other countries. SAinfo reporter
Read more:
http://www.southafrica.info/business/economy/competitiveness-070911. htm#ixzz1wLRYA9Xh
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