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Compose a 2750 words essay on A Double Diamond Comparison of the Automotive Industry of China, India, and South Korea. Needs to be plagiarism free!The prime merit of executing the model of Double Diam
Compose a 2750 words essay on A Double Diamond Comparison of the Automotive Industry of China, India, and South Korea. Needs to be plagiarism free!
The prime merit of executing the model of Double Diamond is that the model forces different government leaders as well as businesses to think about management strategies and public policies in a different ways. The model has been viewed to depict certain valuable factors or attributes through which competitive advantages can be generated by a considerable level.
It has been apparently observed in this similar circumstance that various industries have applied this particular model in order to enhance as well as raise their competitiveness by focusing upon the different attributes of the model. According to Porter, the four broad attributes of the model determines the competence level at large. A detailed explanation of these attributes has been provided hereunder:
Related and supporting industries refer to one of the most pervasive findings of Porter’s model. The findings state that when there lays large industry presence in an area then it will certainly increase market competition and higher risk of losing employment
Firm strategy, structure and rivalry refer to the business market competition that eventually makes the organisations to develop their different products and attain superior competitive position over their chief market contenders (Tallman, 2010)
In order to explain the differences between the Double Diamond Model and Porter’s Diamond Model, it has been apparently observed that the newly revised model of Porter i.e. Double Diamond Model emphasises upon certain important aspects through which superior competitiveness can be attained. The aspects comprise technological innovation, domestic competition and general infrastructure among others. It has been viewed in this particular context that the newly revised Double Diamond Model elaborately discusses various significant factors that can raise competitiveness by a greater extent as compared to Porter’s Diamond Model. The
