The fundamental of competition has shifted significantly to the creation and assimilation of knowledge hence, role of the nation has grown.
In this paper the emphasis will be given on the automobile sector in Kuwait. It can be seen that it is well known sector in the market. The paper will take into consideration Porter diamond model and also focus will be given on how to attract and retain the foreign direct investment in the country.
It can be analyzed that Kuwait is considered as one of the best sector in automobile industry. In this it can be stated that the companies can easily attain growth at the time of implementing the overall activities in Kuwait. There are many advantages that can help the company to achieve success in the competitive market. It can be seen that Kuwait has proper transportation and also the distribution policies which can help to market the products and services in the competitive market. Kuwait companies are always considered as an international platform in which the companies are willing to invest for long time (Westeren et al., 2018).
There are companies who are focusing on investing money in the foreign countries so that it can be easy to attain the competitive advantage. Foreign direct investment is also considered as the platform through which it can be easy to monitor and control the ownership in the activities of the company in one country and by the company which is situated in another country. It can be stated from the important foreign portfolio that the activities have the direct control which is necessary to be maintained. Globalization is also considered the factor that can impact the companies and foreign direct investment is considered as the important factor that can help to compete with the competitors on the international platform (Fang et al., 2018).
FDI is also considered to stimulate the target country economic expansion and also the working environment is created in favor so that it can be easy for the local industries and investors to attain success in the competitive market. The FDI is also taken into consideration as it is considered as the platform that can help the investors to create and improve the companies who are focusing on grabbing the new opportunities in the market. This can help to enhance the overall purchasing power and can also boost the overall economic criteria. It is suggested that the companies should emphasize on taking into consideration FDI so that it can be easy to grab the target market and also it will help to enhance the overall profitability in the competitive market.
By maintaining the process of retaining and attracting the foreign direct investment it can be seen that companies can benefit and can enhance the revenue on the international platform. The government should emphasize on considering the strategy formulation so that it can be simple to attract and retain the foreign direct investment. To achieve success it can be seen that government should be involved in the activities and also there should be proper foreign direct investment in Kuwait. Also, it is important for the managers to focus on facilitating the overall involvement of the third party. It can be stated that unique and proper investment climate should be generated by the countries for attracting and retaining the FDI. It can be seen that reform and policies also have an important role as it can help in maintaining the overall activities (Phillips and Moutinho,2017).
It is one of the important models that can help to focus on the competitive market on the global platform. It can be seen that this model can help in maintaining the overall structure with the national competitiveness. There are various factors which are related to this model.
Factor condition
It is one of the factor that can help in focusing on the manufacturing and production and take into consideration natural resources and labors. It can be stated that automobile sector requires trained and skilled employees so that it can be easy for them to manage the activities. Also by having proper skill labor it can be simple to attain the competitive advantage in the market. The main aim is to focus on considering and retain the companies so that it can be easy to maintain the overall process of investment in the market. It will also help to enhance the FDI in the particular nation (Smit, 2010).
Demand conditions
It is related with the size and nature of the market. In this the focus is given on analyzing the need of the customers on the national and international platform. This can also help in focusing on proper decisions which will help to maintain success in the automobile industry.
Firm structure, strategy and rivalry
It can be seen that distribution and promotional activities are considered by the small retailers in the country. It is important for the country to focus on maintaining the dynamic structure. In this the automobile companies are focusing on growing and it can help to attract the customers. By having proper structure it can be simple for the company to maintain the competitive advantage and it will also help to motivate the employees to give their best towards the activities which are assigned to them in the workplace (Fainshmidt, Smith and Judge, 2016).
Related and supporting industries
It can be stated that research and development is considered as one of the important factor and it also affect the entire growth of the company. It can be seen that Kuwait emphasizes on considering the overall structure which will help to accomplish goals and objectives in the market.
So, it can be stated that porter diamond model helps in managing the competition level prevailing in the market. Through this model, it can be simple to focus on identification and evaluation of the elements that can help to create the benefits on the national level. It has been seen that it can also help in maintaining the overall strategies and policies which are considered to measure the overall strategy considered by the company (Kiggundu and DeGhetto, 2015).
It can be stated that the four policies that should be considered by the government are related to optimum utilization of the resources. It is important to focus on optimum utilization of the resources so that it can help in maintaining the overall level of competition in the market. It is important for the government to generate the new ways and strategies as it can help in grabbing the market share in the competitive market. It can be seen that optimum utilization of the resources can be done by emphasizing on the overall financial position of the company.
The next policy that should be considered by Kuwait government that should emphasize on the research and development team so that it can be simple to maintain the FDI in the country. Also, the change in infrastructure can result in maintaining the overall sale of the automobile products and it can help in enhancing the overall FDI capability in the international platform. Training and development should also be there so that it can be easy to manage the skills and overall workers on the international platform. The skilled and innovative team can assist the company to focus on managing the overall products and services of the customers on the global platform (Wonglimpiyarat, 2015).
Also it can be seen that it is important for the Kuwait government to focus on using the latest technology and resources so that good image can be maintained in the market. Innovative technology can help to boost the overall working pattern of the employees in the automobile industry. It is important to consider the policies so that it can be easy to enhance the overall profits in the competitive market (Akaeze and Akaeze, 2017).
It can been seen that government should emphasize on managing the overall policy network approach so that it can be easy to boost the overall development of the company in the competitive market. Policy network approach should also focus on managing the overall policies and approach which can maintain the overall relations of the companies with the use of the resources. The policy network approach should be considered by the government so that it can be simple to manage the overall capacity on the overall platform of the automobile industry. This will also help to manage the overall activities of the company which will increase the overall profitability of the company in the competitive market (Burns, 2017).
By focusing on the porter diamond model the company emphasizes on analyzing the elements that can help to enhance the benefits on the national platform. So, the policies and strategies can help to consider and measure the overall strategies implemented in the market. It can help in managing the overall activities of the automobile industry and can also boost the overall profits in the competitive market.
References
Akaeze, N.S. and Akaeze, C.O., 2017. Skills Required by Consultants for Success within the Competitive Auto Sales Business Environments. Journal of Business Theory and Practice, 5(1), p.42.
Burns, P., 2017. New venture creation: A framework for entrepreneurial start-ups. Palgrave.
Fainshmidt, S., Smith, A. and Judge, W.Q., 2016. National Competitiveness and Porter’s Diamond Model: The Role of MNE Penetration and Governance Quality. Global Strategy Journal, 6(2), pp.81-104.
Fang, K., Zhou, Y., Wang, S., Ye, R. and Guo, S., 2018. Assessing national renewable energy competitiveness of the G20: A revised Porter’s Diamond Model. Renewable and Sustainable Energy Reviews, 93(6), pp.719-731.
Kiggundu, M.N. and DeGhetto, K., 2015. Regional integration: Review of the management literature and implications for theory, policy, and practice. Africa Journal of Management, 1(4), pp.303-332.
Phillips, P. and Moutinho, L., 2017. Contemporary issues in strategic management. Routledge.
Smit, A.J., 2010. The competitive advantage of nations: is Porter’s Diamond Framework a new theory that explains the international competitiveness of countries?. Southern African Business Review, 14(1).
Westeren, K.I., Cader, H., de Fátima Sales, M., Similä, J.O. and Staduto, J., 2018. Competitiveness and Knowledge: An International Comparison of Traditional Firms. Routledge.
Wonglimpiyarat, J., 2015. New economics of innovation: Strategies to support high-tech SMEs. The Journal of High Technology Management Research, 26(2), pp.186-195.
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