Michael Porter Has Identified Four Key Elements to Explain Why

question 13

Multiple Choice

Michael Porter has identified four key elements to explain why some companies and industries succeed globally while others fail. These four elements collectively are called:

• A)industrial diversity.
• B)trade feedback effect.
• C)the "diamond" of national competitive advantage.
• D)balance of trade.

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Definitions:

Monetary Bonus

A financial reward given to an employee beyond their regular salary or wages.

Self-Transcendence

A state or action of going beyond one's own interests, concerns, or personal experiences, often associated with spiritual or altruistic experiences.

Self-Actualization

Materializing or achieving one's natural capabilities and potential, seen as a fundamental drive or essential requirement in everyone.

Economic Security

Refers to the condition of having stable income or other resources to support a standard of living now and in the foreseeable future.