Question

List four factors that influence how successful the companies in an industry cluster will be when they compete internationally.

Answer 1

Four factors that would influence how successful the companies would be in the industry clusters when they compete internationally are:

1. Demand: The first factor that would affect the industial influence for the organisations would be the demand factor. The consumer's demand affects the international competition. What and how the consumer would demand for the products of various organisations in a industry affects the working of the organisation.

2. Firm's strategy: Another factor affecting the working of the organisation in the industry is the strategy the firm would be following. The cost strategy, differential strategy, focus strategy etc would be utilised the firm to analyse the market and the consumer of how to the products would be sold.

3. Resources competencies: Third factor contributing would the resources employed for the organisation to produce and to operate the actions. The competencies of the resources, how the resources are channelised by the organistion and used would result in the strategic position of the organisation.

4. Competition: At last, the last factor contributing towards the achievement of the success would be competition shared among the organisations. Various organisation compete in the industry. How the competition level of one organisation is affecting the working ot another, is again an important factor.