Michael Porter Has Identified Four Key Elements in a Nation's

question 197

Multiple Choice

Michael Porter has identified four key elements in a nation's competitive advantage.They are factor conditions,related and supporting industries; and company strategy,structure,and rivalry; and:

• A)demand conditions.
• B)consumer behaviour.
• C)industrial diversity.
• D)governmental regulation.

---

Definitions:

Esteem Needs

According to Maslow's hierarchy, the human need for respect, self-esteem, and recognition from others.

Self-Actualization

A concept in psychology, particularly within the humanistic approach, referring to the realization of one's full potential, expressing one's creativity, quest for spiritual enlightenment, pursuit of knowledge, and desire to give to society.

Biological Drive

Innate impulses in living organisms that motivate behavior necessary for the survival of the individual and the species, such as hunger, thirst, and reproduction.

Social Needs

Fundamental human requirements for belonging, love, and affection from social groups and relationships.