Question: Introduction to International Business 1) Explain using suitable examples Michael Porters National Competitive Advantage Theory. (25 marks) Here I have given all the 6 points,

Introduction to International Business

1) Explain using suitable examples Michael Porters National Competitive Advantage Theory. (25 marks)

Here I have given all the 6 points, please elaborate according to the points given below. a short paragraph will do for each point.

Factor endowments basic factors and advanced factors (4 marks)

Demand conditions Sophisticated and demanding buyers in the home market drives companies to be competitive (4 marks)

Related and supporting industries the existence of supporting industries that provide the inputs to industries that give a nation competitive advantage in a certain industry (4 marks)

Firm Strategy, structure, and rivalry Strategic decisions made by the firm that that effects its future competitiveness. Competitiveness between domestic rivals enhances global competitiveness. Eg Toyota vs Honda, Mercedes vs BMW (4 marks)

Role of government Government policies, tariffs, import/export regulations (4 marks)

Chance events terrorists attacks, natural disasters, technological breakthroughs. (4 marks)

Guide:

Michael Porters theory of National Competitive Advantage explains why some countries are leaders in the production of certain products. For example, Japan is known for its automobile industry and USA is known for its technology.

Porter believes that are four key factors that determines a countrys competitiveness in a certain industry and also two other factors that also play an important role in countrys industry that has a competitive advantage.

What are these six factors? Using appropriate examples to explain these factors.

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