What are the Determinants that affect Porter's Diamond Model?a.Firm Strategy, Structure and Rivalryb.Supporting and Related Industriesc.The Demand Situationd.All of these
Question
What are the Determinants that affect Porter's Diamond Model?a.Firm Strategy, Structure and Rivalryb.Supporting and Related Industriesc.The Demand Situationd.All of these
Solution
All of these options (Firm Strategy, Structure and Rivalry; Supporting and Related Industries; The Demand Situation) are determinants that affect Porter's Diamond Model.
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Firm Strategy, Structure and Rivalry: This refers to the basic fact that competition leads to businesses finding ways to increase production and to the development of technological innovations. The strategy and structure of firms and the nature of domestic rivalry play a crucial role in shaping the competitiveness of a nation.
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Supporting and Related Industries: The presence of suppliers and related industries that are internationally competitive can result in increased performance of firms in the industry. They can share and coordinate skills, which can lead to the exchange of information and innovation.
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The Demand Situation: The nature of home demand for an industry's product or service influences the shaping of particular factor conditions. It has a direct impact on the shaping of the nation's competitiveness.
So, the answer is d. All of these.
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