Essays on Taiwans Plan to Develop Industry Clusters Assignment

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The paper "Taiwan’ s Plan to Develop Industry Clusters" is a wonderful example of an assignment on business. In this report, the researcher will attempt to analyze and explain the diamond model; how Taiwan has been top the global competitive index through its industry clusters in reference to the diamond model, contribution of industry clusters to global business, and how international managers can take advantage of them, discussions of corporate social responsibility in relation to international business, definition, and examples of corporate social irresponsibility and the costs of corporate social irresponsibility to the offending organization and its stakeholders. Question one 1.1 Diamond model The diamond model was created by Michael Porter for the competitive advantages of countries hence enabling students, researchers, various experts, and scholars an opportunity to understand a country’ s competitive position in the global competition.

This model is used to analyze the strategies countries are using to increase their competitive positions in the global market (Athman and Austin, 2009). Traditionally, the economic theory mentioned that factors such as land, location, natural resources, labor, and local population size determined the comparative advantage for countries.

Since these factor endowments have no chance of being influenced, the theory fits in a passive view towards the national economic activity. Porter argues that these factors cannot be used in any way to build sustained industrial growth. According to Porter, the abundance of these factors outlined in the economic theory undermines competitive advantage in the real sense. He, therefore, introduced a certain concept of clusters or teams of interconnected suppliers, firms, institutions, and related industries that arise in specific locations. Porter outlined four advanced factors that are interlinked to create a competitive advantage for a nation or region (Alice, 2002).

These factors are; firm strategy, rivalry, and structure (dynamic conditions dominate the world and direct competition is what impels companies to work on improving productivity and innovation), demand conditions(firms in the economy are facing pressure from increasing demands in the market hence need to improve their competitiveness through innovative and high-quality goods and services), related supporting industries (spatial proximity of downstream and upstream industries enhances the exchange of information thus promoting the continuous exchange of innovations and ideas) and factor conditions.

References

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