- Drawing upon the new trade theory and Porters theory of national competitive advantage, outline the case that would build national competitive advantage in one of the following industries: biotechnology, pharmaceuticals, high tech electronics, or agriculture)
- Based on your selected country and selected industry:
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- Define National Competitive Advantage known as Porter’s Diamond
- Apply each part of the diamond by researching your country and considering the industry selected.
- What are the factor endowment or conditions? Research Land, labor and capital. The most important aspect of the Porter’s theory are the factor conditions. Factor conditions are those elements that Porter believes a country’s can create for itself, such as a large pool of , technological innovation, , and capital.
- What are the related and supporting industries needed in order for your selected industry to be successful in your selected country? are they available? Related supporting industries refer to upstream and downstream industries that facilitate innovation through exchanging ideas. These can spur innovation depending on the degree of transparency and knowledge transfer. Related supporting industries in the Diamond model correspond to the suppliers and customers who can represent either threats or opportunities in the Five Forces model.
- What are the demand conditions? are they internal or external? are they strong enough to make the industry viable? How?
- Firm strategy, structure, and rivalry. What should the firm’s strategy be in order to succeed? The concentration of market power, degree of competition, and ability of rival firms to enter a nation’s market are influential here. This point is related to the forces of competitors and barriers to new market entrants in of business strategy.
- External Factors: Government Regulation and Chance, explain the current situation
- Explain its implications. Is it possible for the selected industry to build a national competitive advantage in the selected country, why or why not?
- What kind of policies would you recommend that the government adopt? Are these policies at variance with the basic free trade philosophy? (Review content introduced in Chapter 6)
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Determine the appropriate/professional resources needed, and gather resources effectively and efficiently.
- Make sure to use at least 4 direct and indirect citations to validate your information
- Make sure you are mentioning your resources throughout your essay to validate your quotes and citations
- Follow
- Include a Citations Section
- You may use the textbook as a reference but your validation should come from external sources.
- DO NOT USE WIKIPEDIA as a source.
Step 2: Formatting the Essay
- THE HEADING: include the title in your essay
- For example: National Differences in Political, Economic, and Legal Systems – Greece
- THE BODY OF THE ESSAY:
- Essay length (900-1000 words)
- Follow MLA formatting ()
- The first paragraph must introduce the subject to be discussed
- The paragraphs that follow should include the response to the questions above
- Be introspective, apply the knowledge learned and also share your personal opinion based on your research.
PART TWO: Grading (50 points)
Criteria:
- Substantive, thoughtful and reflective input that demonstrate student understands the subject matter
- MLA formatting guidelines are followed ()
- At least 4 citations, direct and indirect citations and resources are used
- Word count meets at least the minimum expectations as listed above
- Essay is free from grammatical and spelling errors
- THE HEADING: include the title in your essay
- Apply each part of the diamond by researching your country and considering the industry selected.
- Define National Competitive Advantage known as Porter’s Diamond
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