Financial Aspects of Competitiveness in the Sustainable Development of the Company

• Author: Mihail Dimitriu
• Position: Centre for Financial and Monetary Researchers
• Pages: 497-502

Financial Aspects of Competitiveness in the

Sustainable Development of the Company

Mihail Dimitriu 1

1 Centre for Financial and Monetary Researchers – Victor Slăvescu, dimitriu689@yahoo.com

Abstract. Competitiveness of firms is a most important problem and now the negative impact of financial

crisis bring in discussion was in which Romanian firms may survive on the Unique European market. We

think that in present are necessary the following: 1 . Increased competitiveness should not be regarded as a

process of exploiting short-term advantages (e.g. low cost of labour), but as a p rocess of building an

economic structure based on capital investment and process R & D innovation; 2. Competitiveness in

complying with the legal community, or financial efforts in environmental protection, are significant

segments o f the real economy of Romania can not integrate into t he European Single Market; 3. Of t he 6

priorities of the NDP 2007-2013 (Competitiveness, Transport Infrastructure, Environment, Human

Resources, Ru ral Development, regional development), the lowest financial allocation for Competitiveness

(8.9% of total). Moreover, attracting European funds in the list is left behind to "graphics" originally made by

Romania; 4. Now is a general series of vulnerabilities t hat lead to additional costs, such as uncertainty

regarding the sustainability and stability of policy options, solut ions for restructuring and economic

development, large uncertainties regarding the ability to translate words into concrete actions and establish

priorities in macroeconomic objectives and others

Keywords: Competitiveness, Financial crisis, Sustainable development.

Competitiveness of firms in Romania has always been raised, both as concept and as practical action.

And now the financial crisis puts into question the way in which Romanian companies can survive in

the single European market.

We believe that currently the following are required:

1 Competitiveness - strategic objective

Increased competitiveness "should not be regarded as a process of exploiting short-term advantages

(e.g. low cost of labour), but as a process of building an economic structure based on capital

investment and process R & D innovation.

Therefore, the main objective of the priority on the competitiveness of the NDP 2007-2013 i s

"increased productivity Romanian enterprises to reduce disparities in productivity compared to

average EU level. It aims to generate in 2015 an average productivity increase of approx. 5.5% per

year, allowing Romania to reach a level of approximately 55% of the European Union. This objective

macroeconomic endorsed by the Romanian Government, however, is far from being achieved, at least

based on current information. If the essence reducing disparities effort consists of massive financial

investment, then the current national and international situation make it not be done.

2 Competitiveness and financial efforts

Free market access to products and services require substantial financial efforts of companies to

purchase and implement advanced technologies and equipment, clean and efficient energy (including

investments for the implementation of technology transfer and use of renewable energy), and to

develop own ability to innovate. Competitiveness in complying with the legal community, or financial

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