The Competitiveness of Nations: Literature Review

Abstract

Countries strive to ensure that they are and remain competitive. Many countries such as Germany, Denmark, United States of America, South Korea, Italy, Sweden, Switzerland and Japan have employed strategies to ensure that the local product are competitive against those from other countries. These countries adopted the Porters’ Diamond Model to ensure that they have a competitive edge. Porters’ Diamond Model is made up of the following four (4) factors; demand conditions, related and supporting industries, factor conditions and organization, strategy, structure and rivalry. The manipulation of these factors helps countries improve their competitiveness.