The country of Arcadia has clusters of associated businesses and suppliers which include individual dye and textile manufacturing firms,chemical plants,and leather manufacturing companies,most of which are well reputed and internationally competitive.This has made Arcadia a major force in the global economic market.Which of the following factors of Michael Porter's diamond model is responsible for giving Arcadia an edge over its competitors?

Question

Quizplus · Accepted Answer

The related and supporting industries factor of Porter's diamond model is responsible for giving Arcadia an edge over its competitors, as the presence of clusters of associated businesses and suppliers in the region creates an environment of shared knowledge, expertise, and mutually beneficial relationships which can enhance competitiveness and innovation.

The Country of Arcadia Has Clusters of Associated Businesses and Suppliers