Management Essay Example | Topics and Well Written Essays - 2000 words - 7

Management - show ExampleTo be precise, the model measures the extent of agonistic advantages that a firm possesses within a detail industry setting (Pascal, Widiantoro, Nguyen & Sharief, 2011). Emphasising on this understanding, the discussion henceforth will intend to discuss about the belligerent positions of operate industry in Canada. The extent of belligerentness of this industrial sector will be ascertain with the assistance of Porters Diamond Theory. Determination of Competitive Position of Services Industry in Canada by Porters Diamond Theory Porters Diamond theory has been devised with the spring of determining the conditions of local environment where a firm is operational. This model identifies both internal as wellhead as external capabilities of a firm in order to determine its competitiveness. The theory has been devised with the intention of ascertaining the competitive position of a firm with the advancement of technological factors. Barragan (2005) also not ed that companies improve competitiveness with increase productivity and acquiring innovation through the use of advanced technologies. Indigenous firms are identified to be the major contributor towards the development of the economic conditions of a country which mostly represent the service organisations (Barragan, 2005). Notably, on that point are six variables which are included in the model. Among the six variables, four factors are identified as the determinants of the level of competitiveness a firm possesses which include the related and supplier industries, demand conditions and firm strategy, structure and rivalry. The other two factors are considered as indirect factors or outside sources such as government and chance which are determined to be influencing the competitiveness as well as achievement of a firm (Karacsony, 2008). The six variables of the model can be precisely identified from the graphical original below. Porters Diamond model framework Source (Markus, 2008) Factor Conditions Factor conditions comprise of numerous factors which include smart tug forces, accessibility of natural resources and adopting advanced technologies. These factors are recognised to be necessary to drive heighten performances as well as to compete effectively in the global market segments. In this regard, companies playacting business operations with greater accessibility of natural resources as well as with ample labour forces at economically profitable rate will assist a company to attain competitive advantages. Moreover, companies adopt advanced technologies and Research and Development (R&D) facilities with the intention of creating better innovative and differential products for better competitiveness. The availability of these factors at a low rate is quite likely to aid the companies towards performing their business activities successfully within a competitive market environment (Bakan & Dogan, 2012 Cini & Nater, 2010). Canada is demonstrated to excel in relation to services industry which has been currently reported to be accountable for a growth of over 70% in relation to Gross Domestic Product (GDP). Moreover, this industrial sector is also responsible for providing employment opportunities to just about three quarter of the population of Canada. This business sector comprises of industries which offers intangible products as well as services. Furthermore, the companies which