The Competitiveness and Strategies in Global Financial System

Abstract

The concept of strategic change in financial systems consists of various internal and external environmental elements. Effective company strategies determine the fate of companies in volatile market conditions. Companies in financial systems have to adopt new technologies and implement new strategies in order to achieve a competitive position in the marketplace. Developing competitive ideas and strategies relies on organizational change. It is shaped by internal and external factors that mostly provide the formation of strategic change. In this regard, market developments and the changing structure of demand are of vital importance. In this chapter, a strategic approach to competitiveness in financial system is developed. Moreover, the fundamentals of competitiveness on financial and economic systems are evaluated, and the interaction between financial development and global competitiveness is assessed.