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Hello, I am looking for someone to write an article on Michael Porters (1998) work on industrial clusters has been seen as a new and potentially fruitful way of understanding how innovation can be sti
Hello, I am looking for someone to write an article on Michael Porters (1998) work on industrial clusters has been seen as a new and potentially fruitful way of understanding how innovation can be stimulated in particular regions and firms. What are the main features of Porters cluster model and wha. It needs to be at least 2250 words. Market intelligence is a tool that is used to determine the position of the market. Day-to-day information will provide benefits to the company to enter into global and international market. The intelligence is necessary to analyse so that effective decisions could be made to enable the business to achieve the primary goal of the company (Traill & Pitts, 1998).
Technical solutions refer to the solutions that are identified to solve the problem that is related to the servicing or technical department of the company. The company could get benefit by making effective solutions to the problem faced by them while working in the industry. Competitive solutions are supported by the model to increase production and capture wide global market (Park et al., 2012).
Pooled purchasing refers to buying the product or material at the time when more benefits could be derived from it. Cluster model describes that pooled purchasing is helpful in increasing the production of the company, and the company would be able to derive more benefits by purchasing raw material in bulk quantity (Traill & Pitts, 1998).
Porter believes that skilled labour is required for increasing the production and reducing the cost of the company. A skilled workforce is the asset of the company, and they must be utilized to derive effective benefits to the company. Skilled workforce is more important than unskilled force as they could effectively use technological advancements and increase the production efficiency of the company (Park et al., 2012).
Access to high cost refers to the ability of the company to purchase machinery and equipment that are used by the company to increase its efficiency and productivity. These resources are sometimes imported from other countries that cost high to the company. The model States that the company must analyse that if it can access those resources that possess high cost in the market (Park et al., 2012).
