Nobody downloaded yet

Management - Essay Example

Comments (0) Cite this document
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 PAPER95.3% of users find it useful
Read TextPreview

Extract of sample

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
(“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
Along with the management skills, managers should possess some degree of technical skills (i.e. help wait on tables, occasional food preparation etc in the chosen case study) to manage employees and their problems in an effective manner (Basic Skills for Project Managers).
2 Pages(500 words)Essay
After researching on the product market, the entrepreneur then goes on to establish the business enterprise. However,the strategies used in running the business determine its success and survival in the market.This is dependent on the management theory used by the business.
3 Pages(750 words)Essay
Introduction The development of globalization in markets worldwide has allowed businesses to achieve a high growth within a relatively short period of time. However, the decrease of time in the expansion of business activities, as a consequence of globalization, has been followed by the increase of relevant risk (Vellani 2007, 134).
7 Pages(1750 words)Essay
The role of a manager is to properly oversee the assigned tasks of management. He is the person who decides what course of action will be adopted in the wake of managing tasks. He is responsible for delegating work
2 Pages(500 words)Essay
Basic definitions of management and organization structure are discussed in this paper. Initially management was considered as an art of directing and controlling people. But now it is considered a science of using expertise of personnel to its maximum potential.
5 Pages(1250 words)Essay
Talent management is one of the vital functions of the human resources department of a company. In order to manage the talents effectively the HR
3 Pages(750 words)Essay
For the project success, it is essential to identify and categorize any potential risk then evaluate them in the end (Ward &
8 Pages(2000 words)Essay
anizing, selecting and involvement of the best qualified staffing and the ability to lead people, each organization has chances to achieve the best outcomes as for the itself as for the stakeholders involved. Proper management ensure setting of such activities as planning and
6 Pages(1500 words)Essay
Management - Performance Management
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.
8 Pages(2000 words)Essay
Project Management Risk Management
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.
6 Pages(1500 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 Management for FREE!
logo footer
Contact us:
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us