Financial Competitive environment of this globalized world gave Michael E. Porter to write down the strategy that how a nation could compete or tackle the issue of establishing a successful business. The primary purpose of writing his new work was to unfold the very idea of strategic competitive race among the nations of different states of the world. He give a plan for those nations that are fail to qualify for the international standards of business and to enter into the leading industrial sectors of the world. His work include extensive research and the collection of data of various national’s industries, corporations and trading policies of developed countries of the world.
By providing the idea of grouping in industrial sector of the state, the writer explains that develop companies can became the role model for those units that are not gaining much from their respective struggle to get into the space of international financial hub. He provides different steps, and a systematic plan for the development of the trade and corporation. According to the writer, the present era of dependency on the exchanges of money let different states to exchange their productions and to rely on each other’s equipment. Moreover he wrote about the advancement in the technological additions that are used in running business activities.
Solar photovoltaic industry of China has been applied under the model of the author. The business progress of the said industry has be upgraded and integrated. It became the competitive role model for other corporation. It also instigate the wave of new rivalry inside the national trading and ultimately proven as the developed industry of the China. The diamond model of the writer would be very useful for the regions that are inter related with each other, specifically on the terms of financial transactions. Hence the new work prove as the new innovation in the global market place.
Michael E. Porter (1990), the competitive advantage of nations, Business and Economics.
Zhen yu-youb, shuang ying-zang, Jian Zuo (2011) Renewable and Sustainable Energy Reviews, Critical Analysis of Photovoltaic industry in China, vol 15, issue 09.