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The Nature of Firm Strategy,structure,and Rivalry Is the Final Determinant

question 96

Essay

The nature of firm strategy,structure,and rivalry is the final determinant of a nation's diamond.What does this statement refer to? How does domestic rivalry differ from foreign rivalry? Please explain in detail.


Definitions:

Business Activity

Any action undertaken by individuals or companies involving the production, distribution, or sale of goods and services.

Principals

In a commercial context, the parties who enter into a contract or agreement, authorizing agents to act on their behalf in transactions.

Contracts

Legally binding agreements between two or more parties that create mutual obligations enforceable by law.

Actual Authority

The specific power given to an agent by a principal, derived from their agreement and can be express or implied based on their actions.

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