TMA02 B300 Part 2 Policy issues Essay Example | Topics and Well Written Essays - 2000 words

TMA02 B300 Part 2 Policy issues - Essay ExampleThe Diamond Model consists of four attributes which are interlinked and interrelated with each other. These four attributes must be present in order to ensure rapid growth and development in the industrial sector. Porter utter that national competitive advantage is based upon the application of smart and prudent strategies. Flexible, agile, and reliable government policies will assist in the creation of advanced industries. other variables like productivity, quality, familiarity base, innovation, and creativity were identified as enhancing the competitive edge of nations. This research paper will explain the four attributes of the Diamond Model. It will psychoanalyze the impact of four attributes on national policy.Previous theories related to industrial development and production focused on the availability of human and material resources. still these theories were considered to be flawed because of their linear and simplistic lin e of reasoning. Most developing countries have abundant material and human resources, yet they have failed to improve economical standards of living. Porter sought to address these concerns by proposing the theory of competitive advantage. National strategy is based upon the application of smart and prudent methods. Governments should have clear and on the nose goals which encourage investment and business growth. Porter argued that labor intensive industries lead to the production of low level products and services (Suneja, 2002 Pg 113). Competitive advantage helps in knowledge acquisition, quality, innovation, and productivity. It creates highly efficient and effective industries that can eventually target the international market.Porter assumed that competitive advantage occurs in a systematic and organized manner. An organization focuses on a single process or attribute in order to develop its capabilities. The systematic