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The prosperity of a nation is created but it's not inherited. The success of a company is determined by its innovativeness and upgrading of its infrastructure. Pressure and challenges are some of the factors that dictate whether a company will have a greater competitive advantage over that of its competitors…
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The porter diamond factors of competitive advantages of a nation include; the government, factor conditions, port competition, related and supporting industry as well as the demand conditions that should be applied in all organizations so as to have high competitive advantages over their competitors.
However, the framework may not be applied in most organization as it does not incorporate the multinational activities. The introduction of the generalized double diamond model has led to the significant changes within the organization. This framework takes into consideration the multinational activities whereas the porters' original diamond model takes into account the traditional home-based activities. In addition the porter's diamond framework makes an explicit connection between the geographical and the international industries therefore the industries can easily access raw materials for their company and can also market their products where they can get market for their produce.
Companies gain competitive advantages through getting involved in the innovative processes within their organizations. The approaches of innovation involve use of the latest technology and gaining knowledge on how to carry out the activities of an organization effectively. The innovation processes are manifested through using new product designs, new production processes, having marketing approaches as well as conducting training campaigns within the organizations. Porter Diamond framework The Porter Diamond framework was initiated by Michael Porter and is used in determining the competitive advantages of a country or a region. According to porter 1990, it states that the competitive advantage of a country is created and sustained by going through a highly localized process. However, the diamond framework determinants of countries or regions do not necessarily contribute to the success of a country. Porter analyzed the factors that contributed to the international companies' success and why they were successful than other companies .He observed that success was as a result of implementing the porters favorable national diamonds factors. The extended porter diamond factors of competitive advantages of a nation include; the government, factor conditions, port competition, related and supporting industry as well as the demand conditions (Fuss, and Waverman, 2006). These interlinked advanced factors for the competitive advantages for countries or regions in the porters' diamond framework are; Factor conditions; Porters says that the main factors of production are created but not inherited. The specialized factors of production are capital, skilled labor and infrastructure. The general use of the factors and the non-factors such as the raw materials and unskilled labor can be easily made for a company and therefore do not generate sustained competitive advan
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...?Conflict Diamonds < < The trade in conflict diamonds has got to end. We are all familiar with the glamorous connotationsof the diamond – draped around the wrists and necks of ladies at social events, and encased in engagement rings the world over. Diamonds have been marketed as a symbol of love, of fidelity, of longevity. But for the people of some African countries, after decades of suffering and bloodshed, the diamond is a source of conflict, and a spiller of blood. Conflict diamonds are those illegally traded to fund war and insurrections, commonly in Central and West African nations. In the late 1990s, this trade caught the attention of the world as the protracted conflict in Sierra Leone reached its devastating...
... that this model has not been tested in most of the developing countries, but those rare researches that have been conducted to validate the diamond model, affirm that the diamond model of Porter is intrinsically better. Rugman and Verbeke (1993) proposed an article to study the interaction between international and national determinants of a country, which leads to competitive success of a country at global level. Rugman and Verbeke (1993) stated that the model can be made even better and therefore, suggested extending the Porter’sDiamondframework and used a variant, i.e. SWOT analysis in order to functionalize the Porter’sDiamond model (Rugman and Verbeke, 1993). Narula (1993) stated that the diamond model of Porter is a static one...
... Diamond; A Journey To The Heart Of An Obsession Mathew Hart’s “Diamond; a journey to the heart of an obsession” narrates the story of the large pink from a Brazilian riverbed. The small-scale miner in the area made this discovery. The miners needed people with greater experience in the mining industry to sell the rock. The book displays the scrutiny of rocks in the business in values of weight, shape, clarity. Every gemstone has its own gleam and character, low on some and great on others. When the brokers see the rock, it strikes interests immediately. Hart tells of the geology of the great stones. A boy in a South Africa found the first stone in the 1869 lying on a firm. This created the greatest cartel in the history of the business...
...Diamond Mining in Sierra Leone and in Botswana, the Economic Impact Diamonds, treasured by all, have been the good and the bad of economic independence in Africa. This is especially true when we review that of Botswana and Sierra Leone. Two different kinds of mining are most active in each of these countries. Two totally different ways of managing the resource have been present. There has been not only economic but political struggle and continued struggle over the manner in which the land is being used. We will attempt, in this paper, to discuss the differences in management of the resource by the two governments as well as the depth of the type of mining involved.
Botswana gained it's independence in 1966. It previously had been...
...TOPIC: Does Porter fail to explain how the factor and demand conditions that mould a nation’s corporate strategies, business structures, and industrial clusters are established? What other theories and evidence might assist such an explanation?
i. Introduction. Suggest answer to the question and outline how to validate your suggested answer by clarifying the analytical structure
According to J. Porter, A Harvard University Professor, The four factors of his diamond theory are:
a. Factor Conditions. Factory costs like labour, overhead, land, natural resources, capital and infrastructure that are created. Special factors included skilled labour, capital and infrastructure. Non key factors like unskilled labour and raw...
...MBA Dissertation Is Porter’s national diamond of competitiveness a relevant theoretical framework to explain the competitive advantage in a global industry with strategic importance: the case of the tungsten carbide industries in selected European countries
A dissertation submitted in partial fulfilment of the requirements for the degree of Masters of Business Administration (MBA) of Robert Kennedy College Zurich and the University of Wales
Winslow, United Kingdom
March 07th 2012
Thanks to my supervisor Prof. Francois Therin and all staff and fellow students at Robert Kennedy College Zurich for their support.
I also wish to thank all my colleagues working in the European tungsten carbide industry...
... is simply an annex to “Diamond” prototype; in this case, it applies significantly to management of particular firms and not necessarily the countries.
Porter’sDiamondFramework (Porter, 2008)
Demand conditions in the Mexican Retail industry
As far as internationalization of business organisations is concerned, a home market that is trend setting is essential in providing a sustainable competitive advantage in the global markets. When the local market is large and robust, it offers pushes firms to be innovative and produce goods and services that appeal to the changing consumer preferences and tastes. In this case, the components of demand often appear to be “powers of buyers,” which are the forces responsible for shaping the market...
... in explaining home and host location strategies
Porter’sDiamond model indicates that the competitive nature of nations is determined by the ability of the industry to upgrade its position and innovation. It indicates that the nation’s ability is also an influencing factor in providing a home base for firms to improve their services in terms of features, technology, and quality (Cavusgil et al, 2014). One of the advantages of the model is that it identifies 4 interrelated factors that create the important national environment where firms are initiated, develop and acquire sustainable competitive advantages. Through the use of Diamondframework, firms are able to undertake necessary research that is useful for internationalisation process...
...INTRODUCTION Michael Porter’s theory of competitive advantage explains how countries become the best in producing various products. The theory of competitive advantage underlines four factors that are known as the diamond; these factors include national demand, competition, related industries, and availability of factors. Porter postulates that countries that combine these factors are the ones that achieve competitive advantage. Although the diamond model explains largely about a country’s source of competitive advantage, this model has weaknesses that make it insufficient in explaining competitive advantage. Theorists such as Krugman, Chandler, and Rugman have developed theories that eliminate the weaknesses of the diamond model.
...Porter’sDiamondPorter’sDiamond Michael Porter was born in 1947 and is a leading ity on competitive advantage, clusters and international strategy. The Porter’sdiamond provides a framework for the understanding of a nation’s position in the global competition. In his theory, he introduces a set of interconnected suppliers and industries in the concept of clusters.
He explains the various factors for competitive advantage in his diamondframework. The first aspect is the strategy and structure of firms. He explains that competition makes businesses to increase their innovation and productivity. Second, he describes the demand conditions factor. Here, he explains that firms face pressure due to increased demand, and this forces them...
...Discuss the introduction of the Euro & the European Constitution in terms of framework, ity & aspirations Like all other world bodies, there was a need to bring all the European nations to a single platform. This was all the more needed because the rulers of the respective nations wanted their own particular identity and this brings us to the question that if they needed such an identity what was the need of having European Union (EU)? They could have easily made a body comprising of two or for that matter three countries and enacted their own policies and gone about it in the long run but bringing all the European nations together to a single platform only means that there was a courteous move behind the very same... the introduction of the...
Dijkzeul & Beigbeder (2003: 209) define logical framework as “a tool which provides a structure for specifying the components of a program, and the logical linkages between a set of means and ends”. Thus it describes a project in a logical fashion and is a way of testing the logic of a plan of action. Project work when conceived in the form of a project cycle with consecutive phases simplifies the enormity of the task by tackling each phase of the work as an independent unit in itself. Each stage of development in any project requires the performance of a particular area of the work so that the project is completed in a series of phases (Hira and Parfitt, 2004: 34).
Its impressive economic performance accompanied by a huge current account surplus of $304 billion in 2007, serves as a beacon to the audacious foreign investor. A multitude of factors has contributed to this phenomenal success of a country with more than one sixth of the world’s population. In brief it is a burgeoning market for luxuries and semi-luxuries. I seek to focus the attention of the company management on the three fundamental but interrelated factors – strategy, context and performance. Strategic initiatives of a nation are basically determined by a set of broader predefined policy objectives that outweigh otherwise unimportant presumptuous goals. Context acquires both a national and an international sig...
The subsequent framework would engender a theoretically determined structure of aims thus bringing up and addressing related issues.
Management functions - planning, leading, organizing and controlling or coordinating – have both a theoretical and conceptual determination and their functional level parameters include such organizational goal-related outcomes (Cleland & Gareis, 2006). For instance, the following process diagram of a personal management framework shows the managerial functions can be more meaningful in an individualized organizational context where the manger’s own capabilities and skills are brought into sharp focus in comparison with the daily and routine functions.
...INTTRODUCTION This paper is about the European Aero manufacturer, Airbus and its latest offering, the Airbus A 380. Much has been written about theAirbus A 380 and how it is the next generation of aircraft that makes it easier for long haul flights to carry more passengers with fewer or no stops enroute. After the Airbus A 380 was introduced, many called it a revolution in air travel with its emphasis on luxury travel as well as better amenities for economy class travel. In this paper, I look at the Airbus 380 from a critical perspective by analyzing the competition and using tools like SWOT and Porter’s Five Forces.
In this section, I look at the strategic position of Airbus in the context of the parameters that have...
This advantage is gained by the nation by increasing demand for that commodity by other nations. Either the nation with the competitive advantage has gained this edge because of the cheap labor available in their region, or it is due to the amazingly high quality of resources that are available within their region. The reason can be any – but once the competitive advantage has been gained, it goes a long way in helping the nation to rule the international market for that commodity and it even gives the nation the power to dictate prices at times, especially if there is the scarcity of that commodity or the raw materials needed to make that commodity in other parts of the world, or if the commodity is a staple good or a fast-...
...Assessment of Airline Service Quality through Performance Excellence Framework and its Effect on Profitability Acknowledgement Table of Contents
Table of Contents 4
List of Figures 9
Chapter 1: Introduction 10
1.1Chapter overview 10
1.2 Background of the study 10
1.3 Statement of aims and objectives 11
1.4 Main research question 12
1.5 Related sub-questions 12
1.6 Scope and limitation of the study 13
1.7 Significance of the study 13
1.8 Ethical considerations 14
Chapter 2: Review of Academic Literature 15
2.1 Chapter overview 15
2.2 The Baldrige Performance Excellence Framework 15
2.3 Nature of past service quality studies 19
2.4 Service quality measures 21
2.5 On-time performance and cost...
...Mistery, Deepak. “The Gift of Law: Liberty, Legitimacy, and ity in The Social Contract.” South African Journal of Philosophy 27.2 (2008 130-140. Print.
In this study, Mistrey has examined the concept of free will as put forth by Rousseau and pointed out some logical pitfalls in them. He has concluded that it is not simply the ‘we’ or ‘I’ that make laws for ourselves/myself, as Rousseau has said. What Mistrey tries is to prove the commutability of free will and how an ‘other’ is always present in our presumed self-exercises of free will. He has shown that even when Rousseau tries to put so much importance on the will of the individual or a society in his work, The Social Contract, the identity of that will is unclear... Deepak. “The Gift of...
Relevant information of methods used from the Multifactorial Attitudes Questionnaire, Kruskal- Wallis test to ordinal regression have been elaborated. The results, conclusions, and recommendations are clarified in the research work. Potential benefit is that it makes participants recognize that old need to be given care and inspire attitude change. The harm is that the participants may demand more from their employees relating to the topic. Approval of the Ethics Committee is noted. The findings are categorically explained. The themes include ageism, resources, professional esteem, and working environment. The findings have been explained under each sub-heading. The data have been presented with regard to each question an...
... organizational supply chain strategy is determined by the interrelationship of its industry framework, unique value proposal, various internal processes and managerial focus. These elements include factors that drive the formulation of a stable supply chain strategy (Perez, 2013).
The Porsche industrial framework reflects the stakeholder’s interaction in the production and market process to meet customer specifications. This involves technological advancements and economical factors that translate to competition in the motor vehicle industry. This framework is driven by different factors that affect the supply chain mechanism, all interrelated in respective ways. German is the biggest market for motor vehicle industry...
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