Nobody downloaded yet

Modern Business in Comparative Perspective - Essay Example

Comments (0) Cite this document
Summary
The theory of competitive advantage underlines four factors that are known as the diamond; these factors include national demand, competition, related…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.9% of users find it useful
Modern Business in Comparative Perspective
Read TextPreview

Extract of sample "Modern Business in Comparative Perspective"

Download file to see previous pages Theorists such as Krugman, Chandler, and Rugman have developed theories that eliminate the weaknesses of the diamond model.
According to Porter, he argues that the success of a nation is dependent on the prosperity of its firms. The nation acts as home base essential for an organization’s economic growth and provides competitive advantages.
Porter uses the Diamond concept in determining economic growth rate of a nation. The Diamond concept offers a concept of understanding firms and their management of resources. It also gives the competitive advantages of different businesses in a nation.
The first attribute is the factor condition, which is crucial to organizations growth. This attribute helps in improving cluster structure. The cluster structure involves the relation between customer, skill, technology, and distribution of products. These clusters are vital in attaining economic success at a national level. – example ? The Italian tile industry gained competitive advantage because of the cluster structure of the business. Organizations in the industry relate well with customers and they have workers who have essential skills of producing the product. The industry has also succeeded because of the use of the kiln technology, which helps in minimizing the cost of energy used to produce tiles. The industry developed this technology after the oil crisis of the 1980s, which motivated companies to develop new ways of remaining competitive.
The second attribute is demand conditions, which concerns with home market nature such as home demand influence. The home demand can be affected by customer’s wants and needs (e.g local demand of product). The domestic demand plays a significant role in shaping an organization’s innovativeness and ability to upgrade, which are vital in determining breakthrough of the organization in the national market. – example? The wine producing industry in France has developed ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Modern Business in Comparative Perspective Essay - 6”, n.d.)
Modern Business in Comparative Perspective Essay - 6. Retrieved from https://studentshare.org/business/1680584-modern-business-in-comparative-perspective
(Modern Business in Comparative Perspective Essay - 6)
Modern Business in Comparative Perspective Essay - 6. https://studentshare.org/business/1680584-modern-business-in-comparative-perspective.
“Modern Business in Comparative Perspective Essay - 6”, n.d. https://studentshare.org/business/1680584-modern-business-in-comparative-perspective.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Modern Business in Comparative Perspective

Modern Business in Comparative Perspective

...? Modern Business in Comparative Perspective According to Porter (1990) the competitive advantage of an industry is determined by the ability of the industry to innovate, develop its product and processes as well as to compete. In ‘The Competitive Advantage of Nation’ Porter states that the competitive advantage of the nation can be sourced from the four factors that forms the ‘nation diamond’. The study focuses on the view of different critics and does an in-depth analysis of the Porter’s Diamond Model. Porter has suggested four factors in the Diamond model; they are factor conditions, demand conditions, supporting industries and firm structure and strategy (Allio,...
8 Pages(2000 words)Essay

Modern Business in Comparative Perspective

...Modern Business in Comparative Perspective Table of Contents Table of Contents 2 Introduction 3 Critical Evaluation of Porter’s Diamond Model 4 National Competitiveness as per Porter’s Diamond Model 6 Late Development Theory and Missing Dimensions in Porter 7 Porter Downplay the Role of the State, Given the Historical Importance of the Developmental State in Industrialisation and Improving National Competitiveness 8 Factor and Demand Conditions Purely National in Their Creation 9 Conclusion 11 References 12 14 Introduction Michael Porter developed an economic model recognized as Diamond Model. The model has been described in the book ‘The Competitive Advantage of...
10 Pages(2500 words)Essay

Modern Business in Comparative Perspective (EXAM PREPARATION)

...How accurate is the argument that national economic success rests on leadership in systems of production and operations management? BODY (JAPAN V.SUS – compare the production and operation management) Management techniques In the year 2002, Japan’s transportation industry had to motivate their employees in order to improve their production. The management of the country ensures that it provides training to its staff to update their skills. On the other hand, the US managers in most companies are using management by objective, for instance, Coca-Cola Company ensures that it direct the operations of its employees towards the set objectives. Production is another approach that Japan, uses to realize success in its...
6 Pages(1500 words)Essay

Modern Business in Comparative Perspective (EXAM PREPARATION)

...Modern Business in Comparative Perspective Insert Insert Introduction Introduction Most countries now days are using modern technologies to carry out their daylily operations. Therefore, this study is going to perform an analysis of various countries to find out their means to success. For instance, we are going to discuss how different apply various production techniques to boost their production level. In addition, the paper will also carry out an analysis of various management styles that leaders in respect countries employ to meet their set objective. However, the paper is also going to compare how different countries are using...
6 Pages(1500 words)Essay

Modern Business in Comparative Perspective

.... In an attempt to comply with the social corporate responsibility, Germany has a joint decision making regulations that stipulate the adjustment of profits of both the employer and the worker in order to avoid conflicts. In addition, every business is required to set up a workplace business council while the corporation holistically has a centralized council. The board of directors in this system just like Japan is a two-tier system (Frankline & Douglus, 1994). In comparative literature, Germany and Japan are considered to belong to the same family system of economies since they are coordinated non-marketed in relation to the industrial relations (Richard, 2012). This is unlike in the US...
8 Pages(2000 words)Essay

Modern Business in Comparative Perspective

...Modern Business in Comparative Perspective Table of Contents Introduction 3 Managerial Enterprise 3 Personal Capitalism 6 Business Groups and Networks 6 Chandler’s Concepts to Explanations of Chinese Business 8 Comparison Between Chandler’s Core Ideas And Concepts Of Porter 9 Conclusion 10 References 11 Introduction Alfred D. Chandler’s has developed the model of “business enterprise”. The model is related to strategic management and so has resulted in the development of the large-scale industrial enterprises. The business enterprise model focuses on organisational innovations that in turn results success of the organisation in the long run. The paper analyses the extent to which the model developed by Chandler explains... the...
8 Pages(2000 words)Essay

Modern Business in Comparative Perspective (EXAM PREPARATION)

...Modern Business in Comparative Perspective al affiliation Introduction Chandler’s model of integrated management suggests that industries are better off with a well-organized management layout rather than management based on personal capitalism. He argues that this professional management comes up with better decisions and projects that are crucial to the organization unlike personal management which may be biased. Integrated managerial enterprises aims at expanding the economies of scale and scope in the economies. This paper discusses the chandler’s theories in relation to ancient and modern trends in countries such as China, Japan, Germany and the...
5 Pages(1250 words)Essay

Modern bsuiness in comparative perspective

.... It is such questions that this essay seeks to address with the major focus on Porter’s national competitive advantage theory in explaining the characteristics and performance of the business systems of major economies. Various other theories in existence Apart from Porter’s national competitive theory, various theories have been fronted the behaviour, characteristics and performance of business systems of major economies. These theories are referred to as international trade theories. They fall into two categories; that is the historical trade theories also known as classical and mainly centre on the perspective of a country; they are country based. The second category is the...
9 Pages(2250 words)Essay

MODERN BUSINESS in Comparative Perspective (EXAM PREPARATION)

.... Moreover, Germany which was and still rich in natural resources like coal and iron, and a rich soil makes Germany to have an advantage. Additionally, the introduction of industrial protection in 1879 encouraged trade and growth of businesses. Japan (2nd Paragraph) In Japan, the threat by the west to economic backwardness and national sovereignty was the initial stage for the formation of a modern state. The banking industry emerged to provide investment capital and fund for local trade. In 1870, the ministry of industry was created to operate certain industries as well as check the economic policy of the organization. The private sector was also involved in the development of Japans economy. China...
2 Pages(500 words)Essay

MODERN BUSINESS in Comparative Perspective (EXAM PREPARATION)

...INDUSTRIAL REVOLUTION al Affiliation) Introduction Industrial revolution is the changes in the social and economic changes that resulted from the use of hand tools to machines and the development of large-scale industrial production. in the early 1800, industrial growth began in the United States which continued through the civil war in America. After the civil war, the American industy changed drastically. Hand labour was replaced with machines and this changed the ways of manufacturing. The railway distributed goods far and wide thus increasing the production level of the industries. The industrial growth had some effects like new business centers in the cities and people moved to look for employment in the cities. The...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Modern Business in Comparative Perspective for FREE!

Contact Us