Nobody downloaded yet

Management - Essay Example

Comments (0) Cite this document
Summary
Management Introduction ‘Porter’s Diamond theory’, formulated by Michael Porter, intends to recognise the competitive positioning of firms in a specific industry taking into concern, the various micro as well as macro elements identifiable within the external business environment of any company at the industry level…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.4% of users find it useful
Management
Read TextPreview

Extract of sample
"Management"

Download file to see previous pages To be precise, the model measures the extent of competitive advantages that a firm possesses within a particular industry setting (Pascal, Widiantoro, Nguyen & Sharief, 2011). Emphasising on this understanding, the discussion henceforth will intend to discuss about the competitive positions of services industry in Canada. The extent of competitiveness of this industrial sector will be ascertained with the assistance of Porter’s Diamond Theory. Determination of Competitive Position of Services Industry in Canada by Porter’s Diamond Theory ‘Porter’s Diamond theory’ has been devised with the motive of determining the conditions of local environment where a firm is operational. This model identifies both internal as well as external capabilities of a firm in order to determine its competitiveness. The theory has been devised with the intention of ascertaining the competitive position of a firm with the advancement of technological factors. Barragan (2005) also noted that companies improve competitiveness with increased productivity and acquiring innovation through the use of advanced technologies. Indigenous firms are identified to be the major contributor towards the development of the economic conditions of a country which mostly represent the service organisations (Barragan, 2005). Notably, there are six variables which are included in the model. Among the six variables, four factors are identified as the determinants of the level of competitiveness a firm possesses which include ‘the related and supplier industries’, demand conditions and ‘firm strategy, structure and rivalry’. The other two factors are considered as indirect factors or outside sources such as government and chance which are determined to be influencing the competitiveness as well as performance of a firm (Karacsony, 2008). The six variables of the model can be precisely identified from the graphical representation below. Porter's Diamond model framework Source: (Markus, 2008) Factor Conditions Factor conditions comprise of numerous factors which include skilful labour forces, availability of natural resources and adopting advanced technologies. These factors are recognised to be necessary to drive enhanced performances as well as to compete effectively in the global market segments. In this regard, companies performing business operations with greater accessibility of natural resources as well as with ample labour forces at economically profitable rate will assist a company to attain competitive advantages. Moreover, companies adopt advanced technologies and Research and Development (R&D) facilities with the intention of creating better innovative and differential products for better competitiveness. The availability of these factors at a low rate is quite likely to aid the companies towards performing their business activities successfully within a competitive market environment (Bakan & Dogan, 2012; Cini & Nater, 2010). Canada is demonstrated to excel in relation to services industry which has been currently reported to be accountable for a growth of over 70% in relation to Gross Domestic Product (GDP). Moreover, this industrial sector is also responsible for providing employment opportunities to around three quarter of the population of Canada. This business sector comprises of industries which offers intangible products as well as services. Furthermore, the companies which ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Management Essay Example | Topics and Well Written Essays - 2000 words - 7”, n.d.)
Management Essay Example | Topics and Well Written Essays - 2000 words - 7. Retrieved from https://studentshare.org/management/1473885-management
(Management Essay Example | Topics and Well Written Essays - 2000 Words - 7)
Management Essay Example | Topics and Well Written Essays - 2000 Words - 7. https://studentshare.org/management/1473885-management.
“Management Essay Example | Topics and Well Written Essays - 2000 Words - 7”, n.d. https://studentshare.org/management/1473885-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
MANAGEMENT
...?Running Head: MANAGEMENT Management s Management The contemporary business organizations work in dynamic and volatile working conditions. Consequently it is vital for such organizations to take necessary steps to create and execute the plans for the changing environments. Strategic planning is a modern technique that facilitates various businesses and companies to meet their goals in efficient and sound manner. The administrators apply strategic planning for their companies are in a position to take hands-on methodologies to reap benefits for their companies. The strategic organizations are able to exploit the benefits and opportunities with clear targets as well as required resources...
5 Pages(1250 words)Research Paper
Management
...? Workplace Stress Management Assignment) Introduction A Spirited workforce is one of the competitive advantagesof every modern organization. Therefore, organizations today heed their genuine concern to issues associated with workplace stress with intent to enhance HR cohesion and thereby the overall business sustainability. Workplace stress is one of the major constraints to the sustainable growth of a firm. Any sort of physical or mental turmoil or emotional responses to work related issues can be termed as workplace stress. The condition is attributed to numerous factors including personal as well as organizational environments. Though stress has a direct impact on the individuals concerned, it will also indirectly affect... the...
7 Pages(1750 words)Essay
Management
...?Running Head: Management Management [Institute’s TABLE OF CONTENTS Introduction to Management 3 Management Functions 4 Management Roles 7 Difference between Managers and Leaders 7 Importance of Management 8 Management Approaches/Theories 9 Application of Management Approaches in Real Life 11 Conclusion 12 References 13 Introduction to Management As the world has entered the twenty first century, it has experienced revolutionary changes in many facets of business community. The advancements have not only come under experience in the economic, political, and social sectors...
10 Pages(2500 words)Research Paper
Management
...? MANAGEMENT Essay on VODAFONE’s COMMUNICATION - Internal & External Lecturer: Due on: Communication is the exchange of message between people for the purpose of achieving common meanings. There are two types of communications, verbal communication and the other is non verbal communication. Verbal communication involves both oral and written exchange of words. Written communication can be done via reports, presentations, letters, applications, e-mails, memorandums, newsletters, policy manuals, etc. They provide a record of the communication and allow a clear and well thought message to be communicated; however, this mean is expensive and time consuming with delayed response time. On the other hand oral communication takes...
5 Pages(1250 words)Essay
Management - Performance Management
...?Introduction The modern business environment is characterized by a high level of competitive rivalry, and for this reason performance management is such an important issue. It enables the management of an organization to increase and improve organizational capability and outcomes. Implementing a performance management system is essential because without such a system the management cannot determine organizational goals. There are different aspects to performance management such as performance planning, monitoring, reviewing performance, and appraising individual performance. Clearly, performance management is important to organizational goals because it assesses the overall performance of the organization. Planning performance... is an...
8 Pages(2000 words)Essay
Strategic Management Business & Management
...STRATEGIC MANAGEMENT AND FINANCIAL ANALYSIS OF JZ BENNY Table of Contents Table of content Introduction 2 External Analysis ... 3 a. Political .. 3 b. Economic 4 c. Social .. 4 d. Technological . 5 Internal analysis .. 6 a. Strengths 6 b. Weaknesses . 7 Expectations and Purpose ... 7 Competitive strategy ... 8 Financial analysis.... 10 Conclusion .. 10 Reference 12 Introduction JZ Benny is limited public company dealing in retail clothing. It was founded in 1926 by Jack Benny who opened a clothing shop in Muswell Hill in London. Through the years, the company has enjoyed relative growth recording increased profit earnings and enlarging its market share. This has seen it open more retail outlet shops in England...
10 Pages(2500 words)Case Study
Project Management Risk Management
...Risk Template Risk Management plays one of the most important roles in the overall project management. It is often argued that the project managers forget to include the risk element into the overall project management and often face situations for which they are unprepared to deal with. In order to effectively control the project, it is of great importance that the project managers must clearly identify the risks before starting the project and outline their responses against the various risks identified so that an effective and efficient strategy can be developed to meet the uncertainties related with the project. It is further argued that the project...
6 Pages(1500 words)Essay
Management or management function
...To achieve the goals in the highly competitive business environment, organizations must have their own concepts and must have functions to be able toachieve their objectives. The four functions of management are basically planning, organizing, directing and controlling. However, an organization is faced with different circumstances and under different situations different functions have to be executed. A manager faces situations such as change in the organization. Change in an organization can be brought about by various factors such as culture change, downsizing, redundancy, layoffs, mergers and acquisitions, change due to expansion, and even due to the advancements in technology. This paper will discuss...
5 Pages(1250 words)Essay
Scope management (project management)
...SCOPE MANAGEMENT Topic Characteristics of well-written and poorly-written solution requirements Searching through the internet, there are several features of well-written requirements that are found. A set of these requirements were suggested by Coley Consulting Group. The group generalizes a well-written solution requirement into three major headings. Under each heading, there are sub-headings that complete the list with eight major requirements needed to make a well-written requirement. The table below summarizes the eight features of well-written requirements. Main Feature Sub-Features Communication Complete Clear Consistent control Chosen Chaseable Certified Construction Credible Clean Adopted from Coley Group... and feasible...
3 Pages(750 words)Case Study
Project management: Risk management
...Project management: Risk management  How the process will be implemented The process of designing the entire house shall be followed by the real actualization of the project. The process of digging the site will usher in the eventual building. The building will start with the foundation structure, which lays the basis upon which the entire structure shall revolve around. The tunneling of trenches shall be followed by the erection of walls and roofs. The walls shall be plumbed with proper sheathing as the roofs are competently fitted into convenient trusses (Reinhardt, 2008).  After the completion of the foundation, proper design shall be carried out to ensure that the living room, the garage, the storage...
2 Pages(500 words)Assignment
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 Management for FREE!
Contact Us