Question

Using the Porter's diamond, define the philippines services sectors 4 attribute

Answer 1

Answer: while competing with others countries some countries benefit alot internationally while some are not . There are many factors that benefit many countries to compete globally and became successful in global market . firm strategy is very important to compete globally .In order to compete in international market it is very important to first compete with the domestic one . for doing so firm should develop in research and development . it should adopt proper strategy an technology to compete first with domestic rival , if the firm is successful in competing with domestic firms than only there is chance of doing good in global market also .

natural resources are the another factor , some countries have more natural resources while some have less of it. suppose as for example saudi arab is the largest oi producing country , worldwide it produce more oil and export it in different countries . according to porter there is need for the continuous upgradation in the existing created factor conditions , thus country as a whole will be very competitive if it have factors and also ability to upgrade it . there should be good infrastructure , innovation , ans use of better tachnology .

porter does not consider the function of invisible hand . economy according to porter does not move freely and stabilize automatically . here there is need for the intervention of government so that economy can funtion efficiently . government can help companies to become more competitive .

related and supported industries are the another major factors . industries grow more if supportive industries are more . industries depent on each other and if they support each other in profit generation than that will benefit all in international market.