According to Michael Porter,a nation's competitiveness depends on the capacity of its industry to:
A)Establish trade surpluses
B)Maintain transparency
C)Buy out competitors
D)Innovate and upgrade
E)Cheat and steal

Question

Quizplus · Accepted Answer

Michael Porter emphasizes the importance of innovation and upgrading in a nation's competitiveness. He argues that for sustained economic growth and development, industries must continually improve their products and services and develop new ones to meet changing market demands. This can be achieved through investments in research and development, education, and technology infrastructure. While trade surpluses and transparency are important factors, they are not the primary drivers of a nation's competitiveness according to Porter. Option C, buying out competitors, is not a sustainable approach and may ultimately lead to a lack of innovation in the industry. Option E, cheating and stealing, is not a legitimate or ethical means of achieving competitiveness.

According to Michael Porter,a Nation's Competitiveness Depends on the Capacity