Porter argues that a nation's firms gain competitive advantage if Group of answer choices the country has an abundant supply of

Question

3 years ago

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Porter argues that a nation's firms gain competitive advantage if Group of answer choices the country has an abundant supply of

unskilled workers. their domestic consumers lack technical awareness. their domestic consumers are demanding. they function in a labor-intensive market

Business

1 answer:

Anit [1.1K] · Answer 1 · 2022-01-19T13:30:24+03:00

Answer: their domestic consumers are demanding

Explanation:

In Porter's Diamond Strategy, he explains why some nations are more competitive than others. One of the factors mentioned was the DEMAND CONDITIONS.

He posited that home demand has a huge influence on how favourable domestic industries are.

How?

A larger market at home presents companies with challenges as well as more opportunities to grow and become better and more efficient.

Striving to satiate such a demand will enable companies to scale new heights and they will learn more about consumer behavior much quicker. They will then use this knowledge to apply and conquer new markets thanks to being forced to adapt early by their own domestic market.

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