Porters diamond national competitive advantage theory

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Porter’s diamond – National Competitive Advantage Theory, not the countries (strategy, structures, rivalry - spurs innovation) Factor Condition (cheap), Demand Condition, Supporting Q8 Expand Sales Acquire and diversify resources Gain Knowledge Follow competition/customer Q9 Advances in technology and communication (internet) Removal of trade barriers (GATT) Growth of supporting industries Free market – competition Integration of world financial market Q10 Country (political), Cultural language barriers, culture/beliefs, Financial (foreign exchange), Commercial
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Q11 1)common law – based on precedent, preceeding/previous cases/ history – judiciary in nature judge has power subject to interpretation 2)Civil Law (codified) – legilstaived based on *Roman Cathlic 3)Theocratic 4)Mix Law Q12 Individual Paradgn – minmum government intervention, mostly in free market economy *Capitalism Communitalizaed – Government tend to be prestigious, it can be decomratic or autoractic *Socialsm Q13 G7 – U.S. + Canada+ Japan + U.K. + France + Germany + Italy GAAT – General agreement on trade and tarrif – 23 countries created GATT in 1944, to remove trade barriers to promote world trade WOT – GAAT has changed to WTO in 1995, international property protection agricultural and service industries Q15
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