Porter Diamond Model Quiz

<p>Governments can take proactive steps to enhance a country's competitiveness. (B)</p> Signup and view all the answers

<p>A diamond (D)</p> Signup and view all the answers

<p>Factor conditions (B)</p> Signup and view all the answers

<p>Stimulating differentiation and innovation (B)</p> Signup and view all the answers

<p>Facilitating innovation through idea exchange (D)</p> Signup and view all the answers

<p>Increased production and technological advancements (A)</p> Signup and view all the answers

<p>Extent of transparency and knowledge transfer (A)</p> Signup and view all the answers

<p>Factor conditions (D)</p> Signup and view all the answers

<p>Natural resources (D)</p> Signup and view all the answers

<p>Promoting anti-trust laws (A)</p> Signup and view all the answers

<p>Skillful workforce development (A)</p> Signup and view all the answers

<p>Japan (B)</p> Signup and view all the answers

<p>It forces companies to develop unique strengths and capabilities. (D)</p> Signup and view all the answers

<p>Resources that are developed within a country, such as skilled labor and infrastructure. (A)</p> Signup and view all the answers

<p>Saudi Arabia because of its oil wealth. (B)</p> Signup and view all the answers

<p>International reputation of companies in the market. (D)</p> Signup and view all the answers

<p>It determines favorable conditions for industry development. (C)</p> Signup and view all the answers

<p>It promotes companies to improve quality and innovate. (B)</p> Signup and view all the answers

<p>They provide alliances that enhance value and competitiveness. (D)</p> Signup and view all the answers

<p>It enables companies to become globally competitive. (B)</p> Signup and view all the answers

<p>It offers early insights into future global needs. (A)</p> Signup and view all the answers

<p>Having high-quality inputs from suppliers. (B)</p> Signup and view all the answers

<p>The factors that provide competitive advantage to a national market. (B)</p> Signup and view all the answers

<p>Access to financial resources (D)</p> Signup and view all the answers

<p>To guide strategy for national market investment and operations. (C)</p> Signup and view all the answers

<p>A diamond (D)</p> Signup and view all the answers

<p>Factor conditions (D)</p> Signup and view all the answers

<p>Firm strategy, structure, and rivalry (A)</p> Signup and view all the answers

<p>Factor conditions (C)</p> Signup and view all the answers

<p>Industries that supply materials or services that enhance a primary industry's competitiveness (B)</p> Signup and view all the answers

<p>Government policy (B)</p> Signup and view all the answers

<p>To analyze competitive advantages in international markets (A)</p> Signup and view all the answers

A model that explains why some nations are more competitive than others in specific industries.

The factors within a nation that influence the competitive advantage of its industries, including factors like demand conditions, factor conditions, related and supporting industries, and company strategy, structure, and rivalry.

The nature and size of the domestic demand for the product or service in question. This includes the sophistication of the demand and the pressure it puts on firms to innovate and improve their products or services.

Factors of production such as labor, capital, land, and infrastructure that are available to firms in the nation. These factors need to be both highly specialized and readily available for the nation’s industries to develop and maintain a competitive advantage.

The presence of related and supporting industries in the nation. These industries provide specialized inputs, expertise, and infrastructure that can support the development and competitiveness of the primary industry.

The way companies are organized, managed, and compete within a country. Intense competition pushes innovation.

Industries that support the main industry. Strong suppliers and complementary businesses are crucial.

The Porter Diamond Model explains how a country can gain a competitive advantage in a particular industry over other countries. It considers factors like the country's strategy, rivalry, related industries, demand conditions, and factor conditions.

The Porter Diamond Model focuses on the inter-connected factors that influence a country's competitive advantage in an industry. These include: national strategy, rivalry, related industries, demand conditions, and factor conditions.

The Porter Diamond Model helps businesses understand the benefits of setting up operations or investing in a particular country. It provides a framework to analyze the competitive advantage of a specific country.

The Porter Diamond Model helps countries understand their strengths, weaknesses, and opportunities for specific industries. This knowledge can inform policies and strategies to support industries and enhance competitiveness.

The Porter Diamond Model can be applied to diverse industries, allowing businesses and governments to assess various factors impacting a country's competitive advantage.

Factors that a country can create for itself, like skilled labor, technological innovation, infrastructure, and capital.

The Porter Diamond Model emphasizes that these created factors are more important than natural resources for a country's economic success.

A nation's ability to create and develop factor conditions is crucial for its economic competitiveness.

A country's success is often determined by its ability to develop its human capital and technological capabilities rather than its naturally occurring assets.

Countries can implement policies like anti-trust laws to encourage competition and stimulate the development of factor conditions.

The intense competition among companies within a nation. Strong domestic competition pushes innovation and leads to international success.

A larger market creates both growth opportunities and challenges for companies. Sophisticated customers drive companies to improve quality, innovate, and stay competitive.

Local demand provides a foundation for industries to succeed. Companies that cater to domestic customers gain valuable insights into global markets and preferences, giving them a competitive advantage.

Strong alliances with other companies, particularly suppliers, are vital for success. Suppliers provide high-quality inputs, timely feedback, and collaboration opportunities, contributing to a company's competitiveness.

Silicon Valley's success is a prime example of how a cluster of related industries creates a powerful ecosystem. This concentration of companies amplifies innovation, collaboration, and growth.

Supporting industries are vital for a nation's economic success. They ensure the flow of high-quality inputs, fostering innovation and competitiveness across different sectors.