Global Strategy and the Use of Porter’s Diamond Model
OVERVIEW The primary purpose of this assignment is to get you to reflect on your learning experiences in the Global Strategy subject and identify learnings that you can use in your future work. LAYOUT, FORMAT AND LENGTH The essay must be no more than 2,000 words in length (excluding tables/figures, referencing in-text citations and cover page). Excess word count penalties may apply. Since your reflections contain your own insights into the chosen theory, framework or concept, feel free to write in the first person (e.g. “Based on my use of the framework I believe it is…”). Ensure that your essay has a logical flow and makes use of relevant (sub)headings where appropriate. Clarity of expression, grammar and overall coherence form part of the assessment. Students who may have difficulty in this regard are encouraged to utilise the services provided by the Academic Skills Unit
Refrain from using artificial intelligence software in the preparation of this assignment
Make sure to acknowledge your sources. There is no need to reference your own Assignments 1 and 2; with GS lecture slides an in-text reference such as “GS Seminar Week4” is sufficient. Use the APA System of referencing
On the cover page, list your name, student number and accurate word count.
Global Strategy
Author’s Name
The Institutional Affiliation
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Instructor Name
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Table of Contents
Introduction. 3
Brief Description of Porter’s Diamond Model 3
Porter’s Diamond Model’s Overview.. 3
Assessment of Porter’s Diamond Model in Global Strategy. 4
Reflections on Porter’s Diamond Model 6
Personal Understanding and Insights. 6
Application and Challenges - Navigating Model for German Bionic’s Strategy. 7
Conclusion. 9
References. 11
Introduction
The global strategy program has been enlightening in exploring the complexities of international business affairs and has provided deep insights into the forces that propel global competitiveness. With the focus on the global strategy for successfully expanding business, Porter’s Diamond Model is one of the valuable tools among the myriad theories, frameworks, and concepts (TFC) presented. The paper aims to examine this model in depth, reflecting on its nuances and my own experiences using it. Such reflection is required to accurately assess the model’s effectiveness and its overall influence on comprehending global strategic dynamics.
Brief Description of Porter’s Diamond Model
Porter’s Diamond Model’s Overview
To evaluate German Bionic’s potential entry into the Australian market, I used Porter’s Diamond Model, which offers an extensive structure for assessing national competitiveness. With a holistic understanding of the global business environment, its multifaceted approach assists in determining key factors, from local demand situations to supporting industries. According to Vlados (2019), Porter’s Diamond Model provides a logical framework to comprehend how certain nations and the industries within them have a competitive advantage internationally. According to the model, specific national circumstances can spur industries to achieve advanced global success.
The model’s anatomy comprises four determining factors. Firstly, factor conditions examine a country’s resources, distinguishing fundamental factors like natural resources from advanced factors like skilled labor. Although fundamental, advanced factors create competitive advantage as they constantly evolve. Furthermore, demand Conditions center around the characteristics of the local market. The demand for high-quality goods from discerning local consumers forces industries to innovate, increasing their ability to compete globally. The third point emphasizes the interconnectedness of industries, highlighting the relationships and support they offer to one another. Successful, related industries can boost a nation’s other sectors’ performance. Firm strategy, structure, and rivalry, the fourth determinant, highlight how businesses organize and strategize within a country (Sukardi, Rusdiawan & Wardana, 2019). This way, companies are frequently honed to compete more globally by intense domestic competition.
Considering the focus on the German Bionic’s entry in Australia, I evaluated based on the Diamond Model that the