Porters Diamond Model - 3545 Words

University Of Greenwich BA(hons) in business studies Module name : international business management module Teacher : Ian Norman student Name : Mokbul Hossain Student Id : 000762547 Question: As a management consultant advising a country of your choice, explain how u can use Porter s Diamond model to evaluate and improve the nation s competitive position. Introduction Business world is getting complicated day by day .Companies want to do business like participating in the competition for profit or market share. We are now at globalisation era where a local company is to compete with international company (Daniels et al, 2007). Challenge for marketing strategy is to find a method of earn a†¦show more content†¦He also stated that general factors, mainly unskilled labour and raw materials are easy to acquire and cannot lead to sustainable competitive advantage. Specialized factors are difficult to replicate but require significant amount of investment. Certain disadvantage in factors of production compels innovation which often leads to national comparative advantage. Hence Porter (1998) distinguished the basic and advanced factors. 2. Demand Conditions – This refers to the nature of local demand of an industry’s products and services. Both aspects of demand, quality and quantity are to be considered on an equal note. This is particularly true in cases where local demand of a product is higher than that in foreign markets. In such cases companies devote more effort and investment to that particular product to gain a competitive advantage which often leads to firms commencing export of that product. This also refers to increasing buyer pressure on requirement for high quality and service in industries. This pressure on industries compels them to enhance standard to the level that allows them to compete on an international scale. This is related to a sophisticated domestic market as it leads to firms producing superior quality products which also enable local firms to remain competitive in the global market. 3. Related and SupportingShow MoreRelatedThe Diamond Model by Michael Porter1117 Words   |  5 PagesMichael Porter developed Porter’s Diamond, also known as The Diamond Model, in 1990 in his book ‘The Competitive Advantage of Nations’. The four determinants of Porter’s diamond must operate as a system rather than individually. It provides the answers to ‘Why does nation achieve international success in a particular industry?’ (Porter, 1998:71). Despite the universal application of Porter’s diamond framework, many critics argued that the model is flawed. This essay aims to discuss the differentRead MoreInternational Business Strategies : Porter s Diamond Model1391 Words   |  6 Pagesinternationalise, in any given sector, big or small. This essay will discuss Porter’s diamond model and its four main determinates, as well as illustrating them with two case companies, which include one of the UK’s largest retailers, Marks and Spencer, as well as the USA’s, Walmart. The main objective is to discuss the model to determine if it is of any use in terms of explaining home and host location strategies. Porter quotes â€Å"A nation’s competitiveness depends on the capacity of its industry to innovateRead MoreInternational Business Systems And Porter s Diamond Model1258 Words   |  6 PagesPorter’s Diamond Model provides companies with four reliant factors that fully depend on the state of each other to achieve success within a competitive environment. However, Curran (2001) claims that Porter’s Diamond Model does not fully explain a country’s competitive advantage since only two factors provide evidence of their competitive position. The used factors are company rivalry, strategy, and factor endowments. With reference to the competitive positions of countries within major economiesRead MorePorter s Diamond Model : Case Study1405 Words   |  6 PagesPorter’s D iamond Model: The industry has grown very rapidly in the last decade due to intense competition and was exposed to immense technological advancement possibilities as well. Considering the growth rate and current market state; the telecommunications of Bangladesh has the following implication of Porter’s diamond model, which is further explained below in details: Factor Endowment: 1) Human Resources- Bangladesh is famous for providing cheap labor which comes due to highRead MoreIn Certain Cases Porters Diamond of Competitive Advantage May Not Be an Appropriate Framework for the Analysis of a Nations Sources of Competitive Advantage.1621 Words   |  7 Pagestool of the book is the diamond of competitive advantage (figure 1). This model is based on four country specific determinants and two external variables. Porters four determinants and two outside forces interact in a diamond of competitive advantage, with the nature of a countrys international competitiveness depending upon the type and quality of these interactions. However, because it is fundamentally a home-based model of international competitiveness, the diamond theory is criticized byRead MoreDiscuss in Detail the Application of Professor Michael Potters Diamond Model in the Kenyan Vision 2030: Advantages and Implications1124 Words   |  5 PagesBibliography Alan M. Rugman and Alain Verbeke1993, [35(4)] How to Operationalize Porter’s Diamond of International Competitiveness; Thunderbird International Business Review (ISSN 1096-4762) Wiley United States Charles W.L. Hill 2008, International Business; McGraw Hill United States ISBN 0073381349 John D. Daniels, Lee H. Radebaugh and Daniel P. Sullivan 2006, International Business: Environments and Operations; Prentice Hall United States ISBN 0131869426 Michael E. Porter1990, Competitive AdvantagesRead MorePorters Diamond1657 Words   |  7 PagesPorter’s Diamond is a useful concept in explaining home and host location strategies of international business? Illustrate your answer with references to at least two case companies† The main aim of International business is to build and sustain competitiveness for economic value creation in both domestic and overseas markets (Besanko et al. 2007). Internalisation business theory however has a variety of models that can identify the environmental analysis of specific countries. These models are usedRead MoreThe Concept Of National Competitiveness1492 Words   |  6 Pagesgame. Harvard’s Michael Porter approaches the subject from a different view, asserting that defining competitiveness as gaining a trade surplus is not appropriate. ( Kitson, Martin, Tyler, 2004). Porter argues that expanding exports through a weaker currency and low wages while importing sophisticated goods that the nation cannot produce competitively may create a trade surplus but will lower the standard of living in the nation( Kitson, Martin, Tyler, 2004). Porter breaks competitiveness downRead MoreEssay about Michael Porter’s Theory1568 Words   |  7 Pagesof Porter†™s theory are its comprehensiveness, the dynamic Diamond theoretical system and analysis form both inductive and deductive sides. Meanwhile, it is at a disadvantage in its assumption. Thus, this essay will explore both sides of Porter’s theory. Porters model includes four key elements. The Diamond model is depicted as figure 1, where the four forces jointly constitute a firms global competitiveness in a given industry ( Porter,1990) Firm strategy, structure, and rivalry Demand conditions Read MorePorters Theory of National Competitive Advantage1717 Words   |  7 Pagesthat they inherit to create advantage for themselves on international markets. What Porter contends is that there are advanced factor endowments that nations can cultivate in order to give them competitive advantages in international trade. These advanced factor endowments are firm strategy, structure and rivalry; factor conditions; demand conditions; and related and supporting industries (QuickMBA, 2010). Porter contends that nations cans specifically cultivate skilled labor, a strong technology

Essay on A Career in Forensic Accounting - 947 Words

Forensic Accounting There are many different avenues that one could take in the field of accounting. It is a lucrative career with many areas of interest to be followed. I have chosen Forensic Accounting to further review and research. This paper will define forensic accounting, describe what it takes to be a forensic accountant, give some statistics about forensic accounting, and give my feedback on this potential career path. Forensic accounting is the use of investigative and analytical skills for the purpose of resolving financial issues in a court of law. Forensic accountants need skills in accounting, auditing, finance, quantitative methods, certain areas of laws, research and investigative skills to collect, analyze and†¦show more content†¦Next, let’s take a look at what it takes to become a forensic accountant. According to AICPA.org, there is a lot of work to be done before you can call yourself a forensic accountant. You must first be licensed as a Ce rtified Public Accountant. Then you must pass the Certified Financial Forensics examination, complete the CFF Credential application, and pay the credentialing fees. You need 1,000 hours of business experience in Forensic accounting within 5 years, and 75 hours of forensic accounting related Continued Professional Education. After all this completed, you can sign the Declaration of Intent to comply with the requirements of CFF recertification. There are many schools that offer specific courses and degree programs in forensic accounting, such as Southern New Hampshire University. They are generally master level programs. The most important item is the work experience. There are specific traits or skills that make a good forensic accountant. According to the U.S. Bureau of Labor and Statistics website there are 5 important skills you must have: †¢ Analytical skills – as an auditor you must identify the problem issues and offer solutions †¢ Communication skills – you must be able to listen and then report back your finding and conclusions to your audience †¢ Detail oriented – you must payShow MoreRelatedForensic Accounting1628 Words   |  7 PagesFORENSIC ACCOUNTING MORE THAN JUST NUMBERS The field of accounting is no longer just for those who enjoy crunching numbers. Preparing financial statements, internal auditing, and tax accounting are only the tip of the iceberg. In today s society of the money hungry, the sue happy, and the financially unfit, a new breed of accountant; the Forensic Accountant has emerged. Although Investigative Accounting has been around for years, it has only recently begun to transform into the scienceRead MoreThe Career Field Of A Forensic Accountant Essay900 Words   |  4 Pagesclass about the career field I plan to go into after college. The following information informs you about what must be done in order to become a Forensic Accountant and how life is as a Forensic Accountant in today’s society. Introduction I was asked to research a job in the career field I plan to work in after graduating, then write an informal report on the information I gathered. The job I chose for my report is a Forensic Accountant. A Forensic Accountant is when one uses accounting skills to investigateRead MoreThe Role of Accounting in Business Society631 Words   |  3 PagesRole of Accounting in Business and Society According to Merriam-Webster the full definition of accounting is the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results. An accountant is one who is skilled in the practice of accounting or who is in charge of public or private accounts. (http://www.merriam-webster.com, n.d.) Someone who has obtained a bachelor’s degree in accounting can pursue many different accounting career fieldsRead MoreForensic Accounting : The Field Of Accounting1585 Words   |  7 PagesThe field of accounting goes deeper than the general business field and requires specialized actions. Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business. This system can contain various steps, procedures, and processes that led you to your final results. Some of these various types of accounting include tax, managerial, financial, governmental, private, and forensic accounting. So as you can see, even in this extremely specialized field youRead MoreSkills of a Forensic Accountant1348 Words   |  5 PagesForensic Accountant Skills Forensic accountants need many skills, but the top five most important skills are analytical ability, a desire to be ethical, an interest in being detail oriented, being insightful, and being responsive. All of these skills are seriously needed by those who are focused on forensic accounting, since these individuals must look into fraudulent and suspicious activity that is seen in a company (Buckhoff Schrader, 2000). Additionally, some companies hire forensic accountantsRead MoreForensic Accountants Essay1744 Words   |  7 PagesForensic Accountants Helene M. Snyder Dr. Ann Pohir-Vieth Contemporary Business 508 August 8, 2012 Determine the most Important Five Skills that a Forensic Accountant Needs to Possess and Evaluate the Need for each Skill Students interested in the Forensic Accountant profession are required to possess many skills because this is the hottest career in accounting. People who work in this career investigate white collar crimes such as business fraud, incorrect financial reporting, and illegalRead MoreCareer in Accounting1577 Words   |  7 PagesCareers in Accounting One of the major careers being practiced today is accountancy. Thousands of people are completing their degrees in accounting because there seems to be a bright future for accountants with the appropriate qualifications. Accountants, in their career, help ensure that the organizations are running more efficiently, public records are kept more accurately, and taxes are paid properly and on time. They perform important functions by offering a wide volume of business and accountingRead MoreTop 10 Highest Paid Jobs1140 Words   |  5 PagesForensic Science (Forensics) has been around for centuries, more like the beginning of the 700s when the Chinese began using fingerprints to indicate a person’s identity. Looking out, Fo-rensic Science has been improving more and more every year. There are now several more jobs in this field, which of course, require a specific path to take a part of. In the article, â€Å"Top 10 Highest Paid Jobs in Forensic Science,† it gives a medi an av-erage of the pay and slight insight of what these high payingRead MoreMy Career Pl Paulo Coelho1673 Words   |  7 PagesMy Career Plan As Paulo Coelho puts it, â€Å"When you want something, the entire universe conspires in helping you to achieve it†. The moment I read this line in the book The Alchemist, I thought it did not make any sense. However, I later realized that what this quote means for me is that when I decide what I want, I just go for it. It took me some time to realize I wanted to be an accountant. I first had to learn about my weaknesses and strengths before knowing what career was right for me. My loveRead MoreThe Role and Responsibilities of a Forensic Accountant1605 Words   |  6 PagesIntroduction Accounting skills are useful for companies and individuals who are trying to maximize their profits and maintain a competitive advantage, but forensic accounting can help bring justice and peace of mind for many others by illuminating financial processes that can help explain criminal actions and behaviors. The purpose of this essay is to describe the five most important skills a forensic accountant may possess in order to become successful. This essay will describe each one of these

Intention in the design of London Aquatic Centre †Free Samples

Question: Discuss about the Design of London Aquatic Centre. Answer: Intention in the design of London Aquatic Centre The London Aquatic Centre was designed with the intentions of presenting the fluid geometries of water. The design offers the concepts of water in motion while creating space for accommodating more people[1]. The intentions of fluid geometry are also presented with the design of the wave enclosing pool which is enclosed at the center of the building. Moreover, from the design, it is clear that Zaha Hadid wanted to connect the design of the building with the surrounding environment. The building is designed to reflect to the riverside landscape of Olympic Park which is near. Moreover, the fluidity design intentions are also evident from the type of roof used[2]. The roof sweeps up from the ground providing a concept of fluid wave. Even the interior design is able to reflect the fluid concepts all through. Waves are key part of the intentions which Zaha Hadid had while designing the building. References Futagawa, Yoshio. GA document 118. Tokyo: A.D.A. EDITA, 2011. Jodidio, Philip. Zaha Hadid, 1950-2016: The Explosion Reforming Space. Koln Taschen GmbH. 2016.

Social Science Students and Researchers †Free Samples to Students

Question: Diacuss about the Social Science Students and Researchers. Answer: Introduction: Observation is one of the essential tools used when carrying out a qualitative research approach (Ritchie et al., 2013). Gathering relevant information by means of observation of significant people/consumers, analysing their actions and real-life situations, are the main elements constituting an observational research. Kimberley Clarks Huggies brand used this approach when all the other traditional approaches failed to supply desired results, after the sales of baby wipes dropped considerably, right before their launch of a line of other baby products. They provided glass-cameras to sample management consumers and observed their daily struggles with diapers; accordingly, they reinvented their products in a way that would make them easily dispensable and disposable with one hand. Merits: This particular method has multiple merits for using mostly primary data for resource. The data collected by this approach is usually reliable, unbiased and accurate. It enhances the all-over accuracy of the research result. It significantly brings down dependency on external factors. Use of modern technological gadgets make the process much easier by allowing to make observations for long durations, without disrupting the interviewees schedule (Rauschnabel, Brem Ro, 2015) Demerits: However, one of the demerits is that it is a time-consuming process. Along with that, it does not comply with the opinions of the consumers as much as it complies with their behaviour response. I agree with my peer that observing the concurrent behaviours that take place in a natural environment primarily constitutes the research methodology. It enjoys various merits of its own, which includesreducing dependence on consumer opinion, rather analysing their daily activities and behavioural responses for more accurate data than feedback surveys or interviews can provide. Another merit is that it helps a marketer to distinguish real issue from initial issue. Considering the Kimberley Clarks use of observational research for Huggies prodducts, it revealed underlying issues of neglect towards mothers and children and identified the real issue from the initial issue of losing sales. References Rauschnabel, P. A., Brem, A., Ro, Y. (2015). Augmented reality smart glasses: definition, conceptual insights, and managerial importance.Unpublished Working Paper, The University of Michigan-Dearborn, College of Business Management. Ritchie, J., Lewis, J., Nicholls, C. M., Ormston, R. (Eds.). (2013).Qualitative research practice: A guide for social science students and researchers. Sage.