car industry in Australia. summarize Porter’s Diamond theory and LINK it to the current situation for car industry in Australia, what happened ? why did they stop ?

car industry in Australia. summarize Porter’s Diamond theory and LINK it to the current situation for car industry in Australia, what happened ? why did they stop ? in 1500 words. Order Description its a group report 4500 words about car industry in Australia. summarize Porter’s Diamond theory and LINK it to the current situation for car industry in Australia, what happened ? why did they stop ? in 1500 words. These points about Porter’s theory : > Michael Porter (1990) tried to explain why a nation achieves international success in a particular industry > identified four attributes that promote or impede the creation of competitive advantage > Factor endowments “ a nation’s position in factors of production necessary to compete in a given industry > can lead to competitive advantage > can be either basic (natural resources, climate, location) or advanced (skilled labor, infrastructure, technological know-how) > Demand conditions “ the nature of home demand for the industry’s product or service > influences the development of capabilities > sophisticated and demanding customers pressure firms to be competitive > Relating and supporting industries “ the presence or absence of supplier industries and related industries that are internationally competitive > can spill over and contribute to other industries > successful industries tend to be grouped in clusters in countries > Firm strategy, structure, and rivalry “ the conditions governing how companies are created, organized, and managed, and the nature of domestic rivalry > different management ideologies > vigorous domestic rivalry creates pressures to innovate, to improve quality, to reduce costs, and to invest in upgrading advanced features > Government policy can > affect demand through product standards > influence rivalry through regulation and antitrust laws > impact the availability of highly educated workers and advanced transportation infrastructure. > The four attributes, government policy, and chance work as a reinforcing system, complementing each other and in combination creating the conditions appropriate for competitive advantage > So far, Porter’s theory has not been sufficiently tested to know how well it holds up

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