Does America have competitive advantage in the textile and garment industry? For a country to have a competitive advantage, it is necessary to understand Michael Porter’s Theory of National Competitive Advantage. Michael Porter introduced a model that allows analysing why some nations are more competitive than others are, and why some industries within nations are more competitive than others are, in his book The Competitive Advantage of Nations. This model of determining factors of national advantage has become known as Porters Diamond. It suggests that the national home base of an organization plays an important role in shaping the extent to which it is likely to achieve advantage on a global scale.
We can measures the gross national product. Mechanization or industrialization are ingredients in the process of economic growth. the development of modernization theory in order to modernize the rest of the world in line with American development is interestingly significant in the history of development
Creation of a new value driven With an emphasis on creativity (Creativity driven growth) focusing on adding value/value to the group, Thailand has the ability to race already includes a focus on. Promoting the competitiveness of the product groups that are potential/Thailand core competencies (Core Competency) is a specific.And to add to the development of the competitiveness of the industrial sector in Thailand. To engage in the global economic system, and to support access to the ASEAN Economic Community or AEC is systematic and extremely high performance is necessary to understand the status of industry
Measures to assess advantages should involve accurately identifying drivers that can be leveraged (Day & Wensley, 1988). Since competitive advantage is hard to measure, it can be inferred from sustained periods of above average performance. By applying the VRIO framework these sources of sustainable competitive advantage can be uncovered (Barney, 1991; Rouse & Daellenbach, 1999) and their contribution to the overall assortment should be determined (Juttner & Wehrli, 1994). Firms should monitor "positive sum competition" where rivalry between firms expands and shapes the industry revealing new positions of advantage and eroding current ones (Porter, 2008). Pfizers case study (Chandler & Samaroo, 2010) proves that since the external environment remains dynamic it challenges the internal environment to overcome deficiencies or build new capabilities (Hart,
Two schools of thought exist on the drivers of innovation: the market-based view and resource-based view of innovation. The market-based view of innovation is founded on the premise that innovative organisations attempt to exploit changing market conditions. Market conditions are said to provide the initial conditions that govern the direction and quantity of an organisations innovative activities. Tidd et al (2001) assert that innovative organisations are those that scan their environment to absorb and process information regarding potential innovation. The ability of the organisation to align its strategies with identified enablers and constraints in their environment are found to highly influence its competitive advantage (Barrett et al.
This is based on the resulting desired effects that include: ownership advantages; location advantages; and internalisation advantages (Agarwal & Ramaswami 1991). Ownership advantages relate to an organisation’s ability to develop (especially differentiated products), its multinational experience and the organisation’s size. These components represent an organisation’s skill and assets. Ideally, for any organisation to successfully compete with other companies in the host country, they need to possess superior or advanced set of these assets and skills to enable it earn significant economic returns capable of surpassing the higher costs they will incur in foreign market servicing (Agarwal & Ramaswami 1991). In addition, with the capability of manufacturing differentiated products, an organisation or firm possesses higher control modes that eventually leads to increased efficiency.
Therefore, productivity is the cornerstone of economic growth and it occurs when various raw materials and other productive prerequisites, such as manpower and technology, are used to make some final product that is sold to and used by consumers. Competition promotes efficiency and productivity (Teo, 2003) and it directs resources to its most efficient use. In addition, a low degree of competition within a country is likely to lead to a high variation in efficiency and productive performance and consequently to sub-optimal productivity. Wilson (2008) stated that competitiveness measures are in-essence subset of measures of economic progress. He showed at Table 2.1 the example of two competitiveness measures (Global Competitiveness Index (GCI) and World Competitiveness Yearbook) that their determinants can measure the economic
Camp (1989) defined benchmarking as a search for the industry best practices that lead to superior performance. ii. Kaiser (1992) defined benchmarking as a process for rigorously measuring your performance versus the best-in-class companies and for using the analysis to meet or surpass the best-in-class. iii. Benchmarking is a fundamental business or investment skill that supports quality excellence (Bogan, Christopher and English, 1994) By their nature, best practices are dynamic and progressive.
The findings of multiple regressions suggest that the developed model is statistically valid and has the potential for subsequent development for use. ... ... middle of paper ... ...Management Journal, vol 28, no. 2. Toor, S-U- & Ogunlana, SO 2009, 'Beyond the 'iron triangle':Stakeholder perception of key performance indicators (KPIs) for large-scale public sector development projects', International Journal of Project Management. Warchol, J & Amadi-Echendu, J 2007, 'Critical success factors for brown-field capital and renewal projects', SA Journal of Industrial Engineering, vol 18, no.
Journal of manufacturing technology management, Emerald Group Publishing Limited, 15(3), 254-266 Bodek, N. (2004). The need for Lean Training: Journal of Management Policy and Practice 14(3), 78-81 Feigenbaum, (1990). Total quality management and sustainable competitive advantage, Journal of Quality Management, 5 (2000), 5-26 Hackman R. J. (1995). The Effective Design of Work Under Total Quality Management: Informs, Institute of operational research and the management science, 11, (1), 102-117 _______________ __________________ Thesis Supervisor Head Research IURC