Introduction
Michael Porter proposed a model that helps in analyzing that why some countries or industries are more competitive or having competitive advantage over other countries or industries. The porter’s diamond model suggests that the national home base of an organization plays an important role in shaping the extent to which it is likely to achieve advantage on a global scale. It has four elements named as: factor conditions, demand conditions, related and support industries, and company strategy, structure and rivalry. Porter also proposed that government and chance are another two elements that support this model of gaining competitive advantage but not takes part directly in it. (Recklies, 2001), (Smit, 2010)
Porter’s Diamond Model …show more content…
The hotel industry also based on the management and employees relationship, management networking, and well-trained workers. The rivalry is in its strongest form exist in the hotel industry. In all this diamond model government creates policies and governs how the natural resources are exploited, how firms interact within industries and how businesses are run in general (Litvinova, …show more content…
But for all in this entire process, first step is to understand the essence of the factors condition that what one has in the form of inputs and what it lacks. Understand the demand condition to build strategies by utilizing the factors condition and collaborate with related or supporting industries. By doing so, a firm gain its competitive strategy, structure, and break the competition for it in order to attain national competitive edge and gradually internationally competitive
Michael Porter proposed a model that helps in analyzing that why some countries or industries are more competitive or having competitive advantage over other countries or industries. The porter’s diamond model suggests that the national home base of an organization plays an important role in shaping the extent to which it is likely to achieve advantage on a global scale. It has four elements named as: factor conditions, demand conditions, related and support industries, and company strategy, structure and rivalry. Porter also proposed that government and chance are another two elements that support this model of gaining competitive advantage but not takes part directly in it. (Recklies, 2001), (Smit, 2010)
Porter’s Diamond Model …show more content…
The hotel industry also based on the management and employees relationship, management networking, and well-trained workers. The rivalry is in its strongest form exist in the hotel industry. In all this diamond model government creates policies and governs how the natural resources are exploited, how firms interact within industries and how businesses are run in general (Litvinova, …show more content…
But for all in this entire process, first step is to understand the essence of the factors condition that what one has in the form of inputs and what it lacks. Understand the demand condition to build strategies by utilizing the factors condition and collaborate with related or supporting industries. By doing so, a firm gain its competitive strategy, structure, and break the competition for it in order to attain national competitive edge and gradually internationally competitive