Which of the four elements of the diamond model do you believe has the strongest influence on a firm’s fate when it competes in international markets?
Though I believe all four elements of the diamond model each play their own very important role on the fate of a firm, I believe the element that has the strongest influence on a firm’s fate is the strategy, structure, and rivalry among domestic competitors element. Without sound business strategies and structure, no company will be highly successfully. It is imperative for businesses to figure out the best strategy for their company in order to survive and thrive. Also, having to compete with other companies in the domestic region gives the company a chance to alter beginning strategies and structure in order to overcome challenges that competition brings. If a firm is able to beat out its domestic rivals, there is a good chance that it will succeed in the international market as well.
ANSWER THIS QUESTION:
Provide an example of a company that demonstrates this ability to compete internationally and how this company demonstrates this ability.