Michael Porter Has Identified Four Key Elements to Explain Why

question 251

Multiple Choice

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

• A)the balance of trade wheel.
• B)the points of difference effect.
• C)the trade feedback effect.
• D)the international trade pyramid.
• E)the diamond of national competitive advantage.

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Definitions:

Scope of Representation

The range of activities and issues that a union or attorney can address on behalf of members or clients.

Soul of Representation

The essence or core principle of acting on behalf of others in contexts like political or workplace representation.

21st Century

The current century, spanning from the year 2001 to 2100, characterized by significant advancements in technology and globalization.

Traditional Union Models

Organizational frameworks and strategies used by labor unions that emphasize collective bargaining, strikes, and other forms of industrial action to negotiate with employers.