German enterprises in the globalisation process - personnel as the success factor

Accelerated globalisation as a result of the catching-up process of the newly industrialising countries of Asia, in particular, has changed the environment for entrepreneurial decisions tremendously. Competition pressure has intensified exponentially and will increasingly include the technological products and services in which the industrialised countries have had their comparative advantages. Unlike other industrialised countries, the German economy has been able to hold on to its position in world trade by improving its competitiveness especially by reducing its unit costs. Stepped up competition offers at the same time growth opportunities in huge markets. In order to cope with the risks and to exploit the opportunities, enterprises must consolidate their pioneering technological positions and simultaneously further lower their unit costs. Top positions of enterprises in innovation and productivity are the result of top performance of skilled personnel and management. Firms with foresight realise that personnel has become the crucial success factor of entrepreneurial decisions, and realign their personnel policies and personnel management in order to prevail in the intensified global competition with highly competent and motivated personnel in spite of aging staff and a reduced pool of new junior talent. This article identifies suitable measures of contemporary personnel management.