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5 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Overview |
Analyzes the competitive advantage of nations or regions. How firm's based in a particular part of the world are able to create competitive advantage in a specific industries E.g. shipping = Singapore Banking = English / Swiss |
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1) Favorable Factor |
Presence of factors at that particular country which are favorable / supports that specific industry. These factors can be Basic (Natural) eg., Sea port, population, oil, and; Advance (Man made) eg., create industries to give training to people. Eg. Japan has developed a global presence by producing large number of engineers that have helped developed technological innovation in Japanese industries. |
Basic and Advanced. |
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2) Related and Supporting Industries |
The presence of related and supporting industries in a region can enhance competitiveness. When there are strong suppliers, competitors, and complimentary businesses in the same area it can create innovation and efficiency. To keep tourism industry on top you will need the following supporting industries: Transportation (airlines, railways, public transport). Accomodation (hotels, guesthouse) Restaurants (local + international cuisine) Entertainment + cultural attractions Retail and sovenir shops |
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3) Demand in Homeland |
Local demand becomes a trigger that pushes and blasts an industry. Large and sophisticated domestic market (high level of awareness) can push companies to innovate and meet high - quality standards. |
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4) Firm's Strategy, Structure amd Rivalry |
Ownership - Family owned businesses prioritize long-term sustainability over short-term profits.
Investor's Perspective - Venture Capitalists, Imstitutional investors or individual Shareholders amd their different risk appetite. |
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