Porters Diamond Model

In summary, marketing is very important for a business to achieve success. Many businesses have a difficult time in this area. With the stiff competition, businesses struggle to stand out among others. Other companies resort in unethical and unfair schemes just to win the competition. But eventually find themselves in great loss and failure. As businesses all over the world enter into a gigantic marketplace, every business owner is faced with convoluted market competition. Nevertheless, any entrepreneur can be different and become successful in this matter. In every product sold and in every service provided, patience and hard work should take precedence to ensure quality. Products and services should be marketed honestly, planning should not be done with evil

To obtain a global competitive advantage one must first understand all the factor conditions associated with each individual country. Factor conditions are resources that a business may be able to utilize to best formulate and execute a strategic plan that will ultimately provide a competitive advantage. Michael Porter lists these five factors as human resources, physical resources, knowledge resources, capital resources, and infrastructure resources.

In increasingly competitive markets, consumers have better choices over where they buy their products. For an organisation to meet its business objectives, it has to find out what consumers require and then identify the best way in which it can satisfy these needs and wants. Creating a competitive advantage can be difficult. A unique marketing strategy with clear objectives is vital to ensure effective promotional activity.

Improving marketing has become a top priority of successful inventors and corporations. Most corporations’ research different groups and needs in the marketplace, satisfy the consumers in a superior way by targeting their wants and needs. All marketing strategies are built on segmentation, targeting, positioning, and then position its offering so that the target market recognizes the company’s image and terrific offerings. There are many different business areas which will sometimes play a huge factor such as, finance, accounting, information systems, marketing, and strategic management.

Topic: Does Porter’s ‘Diamond’ concept convincingly explain the achievements of major national business systems, or are their weaknesses, theoretically and empirically, in his arguments?

Michael porter provided a model that consists of five forces within an industry and considering those five forces a company can identify its strengths & weaknesses within that industry in which it thinks to operate.

* In this era, businesses faces lots of pressure to grow and compete and one of them are market pressure. ‘Market pressures come from global economy and strong competition, the changing nature of the workforce and powerful customer’ (Turban, E. et al 2007, pg 33).

Although reputable academics like Dunning and Rugman has developed an extended version of Porter’s Diamond model, it is evident that their work has not fully disproved his framework and simply highlighted the incompleteness of his work as there remains many benefits as to how his Diamond model justifies national

In the article “The Competitive Advantage of Nations” Michael Porter describes a diamond shaped relationship of forces that define a country’s potential for being competitive in a specified industry. The four points on the diamond representing the different forces are: factor conditions; demand conditions; firm strategy, structure and rivalry; and related and supporting industries. According to Porter, the four points apply pressure to each other resulting in a national

Each nation operates and establishes four main attributes which constitute the diamond of national advantage; these attributes are factor conditions, demand condition, related and supporting industries and firm strategy, structure, and rivalry. When identifying these attributes, it may helps companies to learn how to compete; and each point of the whole system can affect directly for achieving international competitive advantage in the company. We can cite the pressures to invest and innovate, the goals of the managers and owners, the information available that shapes the opportunities, the direction in which they deploy their skills and the availability of skills and resources. First factor conditions according to an economic view that the factors of production are labor, natural resources, land… all these determine the flow of trade. But in the sophisticated companies it creates the most important factor of production such as skilled human resources and performance. Considering and involving heavy and specialized investment which constitutes an advantage in knowledge intensive industries. Sometimes nations succeed

Although reputable academics like Dunning and Rugman has developed an extended version of Porter’s Diamond model, it is evident that their work has not fully disproved his framework and simply highlighted the incompleteness of his work as there remains many benefits as to how his Diamond model justifies national

ASSESSING THE POWER OF PORTER'S DIAMOND MODEL IN THE AUTOMOBILE INDUSTRY IN MEXICO AFTER TEN YEARS OF NAFTA

Today business successful is all about marketing strategy; the companies do not sell a product or service to all customers in the market. But on the other hand, the marketing research and

Michael E. Porter is a person of importance in regards to the competitiveness and economic development of nations and on competitive strategy. According to the Harvard Business School, “Michael Porter is the founder of the modern strategy field and one of the world’s most influential thinkers on management and competitiveness” (Isc.hbs.edu, 2015). He argued that in order for companies to achieve a beneficial position within or outside a market, in addition as outshine

These factors can be set into five categories: Physical, HR, Knowledge, Infrastructure and Capital Resources (Karkkainen V., 2008). There are two types of factors consist of: basic factors and advanced factors. Basic factors contain labour, basic educational system, raw material and national resources. Advanced factors contain skilled labour, modern infrastructure and highly education. Example about how factor condition influences the global competitiveness of a country; Egypt government develop infrastructure in the last three years such as transport systems, communication, payment system, post and system used to transfer money. Egyptian telecom companies illustrate the diamond. It has a relatively high number of communication engineers per