Porter's Diamond of National Advantage

Topics:
Strategy Formulation
Tags:
Diamond,
Endowment,
Government,
Management,
Porter Five Forces,
Quick MBA.com,
Strategy
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Quick MBA.com

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Overview: Classical theories of international trade propose that comparative advantage resides in the factor endowments that a country may be fortunate enough to inherit. Factor endowments include land, natural resources, labor, and the size of the local population. Michael E. Porter argued that a nation could create new advanced factor endowments such as skilled labor, a strong technology and knowledge base, government support, and culture. Porter used a diamond shaped diagram as the basis of a framework to illustrate the determinants of national advantage. This diamond represents the national playing field that countries establish for their industries. The diamond consists of factor conditions, demand conditions, related and supporting industries and firm strategy. All these factors have been discussed in length in the article.

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Format: HTML | Date: Jan 2003 | Pages: 1

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