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The Competitiveness of the Nation on the Basis of the Diamond Model - Term Paper Example

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The paper 'The Competitiveness of the Nation on the Basis of the Diamond Model' presents competition among nations which is an age-old tradition that has been in place since the early Greeks and Romans. Nations have competed for resources or to establish their supremacy over others…
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The Competitiveness of the Nation on the Basis of the Diamond Model
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Download file to see previous pages An economy might implies a strong nation with enough resources to sustain its population or to maintain a strong military power. The case of the United States of America is a classic example in this regard. The nation has the unique status of being the sole economic and military superpower of the world. There have been numerous theories to suggest as to what may be the possible reasons for such supremacy. It has been widely stated that the prosperity of a nation is built and generated over a period of time rather than being acquired. Michel Porter (1990) also stated that the prosperity and success of a nation are not created by virtue of its physical resources which are a far critique from the laws of economics. Alternatively, it has been argued that the competitive advantage and prosperity of a nation in the modern world depends on the ability of the nation to constantly develop and create new ideas which are distinct from the others (Porter, 1990, p.73). The case of Japan is a classic example in this regard, as it has emerged as one of the world’s mort prosperous and successful nations without having access to key resources. A deeper analysis of the success story of Japan reveals the innovativeness of its business organizations to deliver more value to the products. This value results in creating economic value and goodwill. Numerous examples of innovation can be traced to the nation including success stories of organizations like Honda, Toyota, and Sony which have created a competitive advantage and have carved a niche for themselves as well as the nation of their origin. Innovativeness of the nation is also reflected from the fact that successful management techniques like Kaizen which have become the standards for present-day business organizations (Ankle, n.d., p.233).
The present study would analyze the competitive advantage of China in its pursuit of being an economic and military superpower. The choice of the nation assumes significance considering the fact that it is the fastest-growing economy of the world. The growth of this nation has largely been attributed to the skill set of its large labor force which offers a supply of cheap labor. ...Download file to see next pagesRead More
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