Porter Diamond Model Quiz

<p>Michael Porter (C)</p> Signup and view all the answers

<p>To guide investment strategies in national markets (A)</p> Signup and view all the answers

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

<p>The degree of transparency and knowledge transfer (D)</p> Signup and view all the answers

<p>It can leverage a skilled labor force and technology innovations. (D)</p> Signup and view all the answers

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

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

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

<p>To analyze the merits of investing in national markets. (C)</p> Signup and view all the answers

<p>Globalization of markets (D)</p> Signup and view all the answers

<p>A diamond-shaped diagram (C)</p> Signup and view all the answers

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

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

<p>They create pressure to innovate and improve quality. (D)</p> Signup and view all the answers

<p>They are essential for the growth of the main industry. (C)</p> Signup and view all the answers

<p>Constantly upgrading created factors through skill development (B)</p> Signup and view all the answers

<p>It generates intense competition and challenges for businesses. (C)</p> Signup and view all the answers

<p>Extracting raw materials for production (C)</p> Signup and view all the answers

<p>Delivering end products to consumers (B)</p> Signup and view all the answers

<p>Refining crude oil (A)</p> Signup and view all the answers

<p>Upstream operations occur before downstream processes. (C)</p> Signup and view all the answers

<p>The various segments producing and distributing products (B)</p> Signup and view all the answers

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

<p>They can stimulate competition and enforce anti-trust laws. (B)</p> Signup and view all the answers

<p>By producing a large number of engineers to drive technological innovation. (D)</p> Signup and view all the answers

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

<p>Encouraging technological innovation. (D)</p> Signup and view all the answers

A framework that identifies the factors that contribute to a country's competitive advantage in a global market.

The conditions within a country that affect its ability to compete in a global marketplace.

The nature of the demand in a particular country, including the size and sophistication of the market.

The presence of related and supporting industries that can provide inputs, expertise, and innovation.

The intensity of competition within a country's domestic market.

The Porter Diamond Model examines the factors that contribute to national comparative economic advantage.

These are the industries that support and are related to the main industry. For example, a strong car manufacturing industry might be supported by robust steel and rubber industries.

This factor refers to the competitive landscape within a country, including the strategies, structures, and rivalry among firms. A highly competitive landscape can drive efficiency and innovation.

The constant upgrading of skills and knowledge to gain a competitive edge.

Demanding domestic customers push companies to innovate and improve quality, giving them a head start in global markets.

The Porter Diamond model emphasizes the significance of factor conditions, which are the elements a country can develop to enhance its competitive advantage.

Countries can cultivate factor conditions by investing in education, research and development, infrastructure, and other strategic areas.

Japan's success in engineering and innovation is a testament to the power of developing factor conditions. It shows that nations can overcome resource limitations by focusing on human capital and technological advancement.

Governments can play a vital role in shaping factor conditions by creating policies that foster competition, support innovation, and encourage investment in education and infrastructure.

The part of the oil and gas industry that involves exploring for, extracting, and transporting raw materials like crude oil and natural gas.

The part of the oil and gas industry that processes, refines, and distributes finished petroleum products to consumers.

The complete set of activities involved in bringing a product from its raw material form to the end consumer.

The process of getting raw materials ready for manufacturing.

The process of getting manufactured goods from a factory to the end user.