Porter's Diamond Theory

Introduction
Since it was published, Michael Porters Competitive Advantage of Nations has become a work of huge influence
- not only in the world of ideas just now too in the agenda of governments. The contribution is a significant one. only when a
subject so extensive could not possibly be covered in one book, and with a work so well noticed we are justified
in subjecting its explanation to captious scrutiny. Our approach does not stand as a stand-in for what Porter
says; the criticism is not that he is in error, but that his thesis is incomplete. This discussion of methodology,
culture, the role of history, politics, etc., is offered by way of a supplementary. The cite is that inattention to
matters of culture and the cultural dynamic is Porters some eventful omission. Compared to this disregard of
the explanatory power of the idea of culture, the other points that we explore - his neglect for example of the
history - are useful but more peripheral aspects of the question: How can nations best grapple? Another vein of
criticism lies not in the birdcall that he ignores something but that he gives it insufficient attention, and this is
particularly so in the case of industrial policy.
What, then, are his claims?



Porter says that most theories of trade look solely at cost, treating quality and
severalize products in a footnote. A new possibility moldiness reflect a rich conception of competition that includes
part markets, differentiated products, technology differences and economies of scale. He argues that a
new theory must explain why firms from particular nations choose part strategies than those from others
competing in particular industries. He believes that much traditional sentiment has embodied an essentially static
view focusing on notes efficiency due to factor scale advantages. His sharpest area of melody is the importance of
competitiveness, a theme he repeatedly returns to, and he thinks that a new theory must make improvement
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