Modern Business in Comparative Perspective Essay - 6

Modern Business in Comparative thought - Essay ExampleTheorists such as Krugman, Chandler, and Rugman progress to developed theories that eliminate the weaknesses of the diamond model.According to Porter, he argues that the success of a nation is dependent on the prosperity of its firms. The nation acts as home stern essential for an organizations economic growth and provides competitive advantages.Porter uses the Diamond concept in determining economic growth rate of a nation. The Diamond concept offers a concept of concord firms and their management of resources. It also gives the competitive advantages of different businesses in a nation.The first attribute is the factor condition, which is all-important(a) to organizations growth. This attribute helps in improving cluster structure. The cluster structure involves the relation between customer, skill, technology, and distribution of products. These clusters are vital in attaining economic success at a national level. lesso n ? The Italian roofing tile industry gained competitive advantage because of the cluster structure of the business. Organizations in the industry relate well with customers and they have workers who have essential skills of producing the product. The industry has also succeeded because of the use of the kiln technology, which helps in minimizing the cost of energy used to let tiles. The industry developed this technology after the oil crisis of the 1980s, which motivated companies to develop new ways of stay competitive.The second attribute is take on conditions, which concerns with home market nature such as home demand influence. The home demand can be affected by customers wants and needs (e.g topical anesthetic demand of product). The domestic demand plays a significant role in shaping an organizations innovativeness and ability to upgrade, which are vital in determining breakthrough of the organization in the national market. example? The wine producing industry in France has developed