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Economy > Business efficiency: Countries Compared

Ian Graham, Staff Editor

Author: Ian Graham, Staff Editor

The International Institute for Management Development measures business efficiency based on five factors: productivity, labor market, finance, management practices, and attitudes and values.

Productivity criteria include: GDP per employed person; the percentage of change in real GDP per employed person; GDP per person employed per hour; related GDP per person employed in agriculture; related GDP per person employed in industry; and related GDP per person employed in services.

Some of the labor market criteria include: total hourly compensation for manufacturing workers; gross annual income in services professions; salary, bonuses and long-term incentives for management; average number of working hours per year; annual number of working days lost to industrial disputes per 1000 population; and the labor force as a percentage of the population.

Finance criteria include: banking sector assets as a percentage of GDP; number of credit cards issued and credit card transactions per capita; and value traded on stock markets.

Under management practices, examples of the criteria examined are: the adaptability of companies; the implementation of ethical practices; the emphasis placed on customer satisfaction; and the extent of entrepreneurship in the economy.

Attitudes and values criteria include: attitudes towards globalization; whether a country’s image abroad encourages business development; and if the national culture is open to foreign ideas.

DEFINITION: Based upon a business efficiency index where '100' represents the highest level of business efficiency.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH
1 United States 100 2005
2 Hong Kong 93.07 2005
3 Singapore 89.68 2005
4 Iceland 85.35 2005
5 Canada 82.65 2005
6 Finland 82.63 2005
7 Denmark 82.55 2005
8 Switzerland 82.53 2005
9 Australia 81.97 2005
10 Luxembourg 80.31 2005
11 Taiwan 78.32 2005
12 Ireland 77.85 2005
13 Netherlands 77.4 2005
14 Sweden 76.26 2005
15 Norway 76.16 2005
16 New Zealand 75.46 2005
17 Austria 74.33 2005
18 Chile 72.18 2005
Non-religious countries average (profile) 72.11 2005
Group of 7 countries (G7) average (profile) 71.1 2005
High income OECD countries average (profile) 69.6 2005
19 Japan 68.65 2005
20 United Kingdom 68.52 2005
21 Germany 67.84 2005
22 Belgium 67.46 2005
23 Israel 67.3 2005
24 Estonia 66.71 2005
25 Thailand 66.01 2005
26 Malaysia 65.84 2005
Eurozone average (profile) 64.98 2005
27 South Korea 64.24 2005
28 France 64.2 2005
29 China 63.22 2005
NATO countries average (profile) 63.05 2005
30 Czech Republic 60.13 2005
31 Hungary 59.87 2005
32 Spain 59.43 2005
33 India 59.05 2005
34 Slovakia 58.62 2005
35 Jordan 52.68 2005
36 Portugal 52.43 2005
37 South Africa 51.95 2005
38 Colombia 51.41 2005
39 Turkey 51.29 2005
40 Philippines 51.1 2005
41 Greece 50.33 2005
42 Brazil 49.86 2005
43 Slovenia 49.3 2005
44 Italy 45.82 2005
45 Russia 43.59 2005
46 Romania 41.78 2005
47 Mexico 41.48 2005
48 Poland 39.02 2005
49 Argentina 37.83 2005
50 Indonesia 33.81 2005
51 Venezuela 30.28 2005

Citation

"Countries Compared by Economy > Business efficiency. International Statistics at NationMaster.com", IMD International, 2005. Aggregates compiled by NationMaster. Retrieved from http://www.nationmaster.com/country-info/stats/Economy/Business-efficiency

Economy > Business efficiency: Countries Compared Map

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Interesting observations about Economy > Business efficiency

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The International Institute for Management Development measures business efficiency based on five factors: productivity, labor market, finance, management practices, and attitudes and values.

Productivity criteria include: GDP per employed person; the percentage of change in real GDP per employed person; GDP per person employed per hour; related GDP per person employed in agriculture; related GDP per person employed in industry; and related GDP per person employed in services.

Some of the labor market criteria include: total hourly compensation for manufacturing workers; gross annual income in services professions; salary, bonuses and long-term incentives for management; average number of working hours per year; annual number of working days lost to industrial disputes per 1000 population; and the labor force as a percentage of the population.

Finance criteria include: banking sector assets as a percentage of GDP; number of credit cards issued and credit card transactions per capita; and value traded on stock markets.

Under management practices, examples of the criteria examined are: the adaptability of companies; the implementation of ethical practices; the emphasis placed on customer satisfaction; and the extent of entrepreneurship in the economy.

Attitudes and values criteria include: attitudes towards globalization; whether a country’s image abroad encourages business development; and if the national culture is open to foreign ideas.

Posted on 29 Apr 2005

Ian Graham, Staff Editor

Ian Graham, Staff Editor

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