In the past European companies were ruling the corporate world, but now it is losing their shin to America.
All big market leaders from Europe are facing stiff business from US rival, many of them has lost into the mist of American’s unprecedented growth and their grasp on the world market.
Airline giant Airbus has lost most of its market shares to its only competitor American Boeing. Europe’s leading engineering group Siemens, which known for its quality products has lost its creditability, even in the eyes of its own customers.
Name like PSA Peugeot Citroen, is not new for luxury seekers, but unfortunately its outdated models pushed it back to the last seat to watch Detroit’s made eye catching models, which not only get a applaud from the customers but successfully grab the market also.
It is not just Airbus, Peugeot and Siemens, but other prominent European companies in turmoil include Daimler and Renault. Global competitions lingered European market representatives. Many disheartened once business leaders worry that the turmoil among Europe’s finest could herald the end of their success in the past ten years whereas jubilant entrepreneurs take it as a challenge.
Economy structure might be a huge factor for the European degradation from the acme. Study reveals that Europe’s productivity is one-third lower to the American’s. The lethargic productivity has reduced the possibility chance of competing with the advanced economies. Europe is facing desperate needs for the innovative ideas and a competitive environment to implement them too.
Political motivation should be behind the every deal, if, from now Europe wants to guide the world again. Europe has to leave aside the past, but they needs to ponder over their plans to float their flagship brands on the world competitive business dais.
Although Europe has successfully introduced their mutual currency euro, but little more effective and productive initiates has to be taken.
Image: Gapingvoid
Source: Economist
