firm's international competitiveness

Question 1

what is porter’s diamond

Answer 1

model which describes the effect that attributes of domestic markets have on the competitive advantages of firms/nations in international markets

Question 2

what does porter’s diamond entail

Answer 2

firm strategy, structure and rivalry
demand conditions
related and supporting industries
factor conditions
all pointing at the competitive advantage

Question 3

what is factor conditions

Answer 3

include the nation’s production resources including; infrastructure, labour force, land and natural resources

Question 4

what is poter’s 5 forces

Answer 4

framework to analyze the state of competition/profit potential in an industry

Question 5

what are the poter’s 5 forces

Answer 5

1. competition in industry
2. potential of new entrants into industry
3. power of suppliers
4. powers of consumers
5. threat of substitute product

Question 6

what is marketing myopia

Answer 6

failure of a company to define its purpose from a broad consumer orientation

Question 7

what is the customer perceived value

Answer 7

(product +service benefit) / (direct + indirect costs)

Question 8

what is in the competitive triangle

Answer 8

consumer, firm A, firm B

Question 9

what is VRIO resources

Answer 9

resource analysis framework

Question 10

what does VRIO stand for

Answer 10

valuable to firm?
rare among competitors?
difficult to imitate?
organized to explicit?

Question 11

what is core competences

Answer 11

resources and capabilities that comprise that strategic advantages of a business