Competitive Advantage ”A company can outperform its rivals only if it establishes a difference that it can reserve”. - Michael Porter The unique skills and assets a company has to outperform its rivals are the sources of competitive advantage. The competitive advantage results from implementing a value creating strategy that is not implemented simultaneously by its competitors. The strategy attains sustainability if the competitors are unable to erode the strategic advantage the company has
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of multiculturalism far outweigh the benefits.’ To what extent do you agree? (40 marks) Multiculturalism is complex in that it has numerous definitions and has a different meaning‚ whether positive or negative‚ depending on individual opinion and governmental ideologies. The main idea is that different ethnic‚ racial‚ religious or cultural groups coexist‚ not necessarily in harmony‚ alongside one another and a county’s system promotes ethnic diversity within its society. Multiculturalism does
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Ethnic and Racial Studies Vol. 34 No. 12 December 2011 pp. 21532172 Multiculturalism as nation-building in Australia: Inclusive national identity and the embrace of diversity Anthony Moran Abstract This article discusses the relationship between multiculturalism and national identity‚ focusing on the Australian context. It argues that inclusive national identity can accommodate and support multiculturalism‚ and serve as an important source of cohesion and unity in ethnically and culturally diverse
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universities. The students may either find a job after leaving their school or further their studies in university. Some of the well to do students may opt for foreign universities. But there are advantages and disadvantages while students pursuing their studies in foreign universities. The advantage of pursuing studies in foreign universities is‚ they have better exposure and wider knowledge. Foreign universities are prestigious and reputable. They hired experienced lectures to teach the students
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What are the differences between absolute advantage and comparative advantage? Absolute advantage and comparative advantage are two basic concepts to international trade and perhaps two most important concepts in international trade theory. Under absolute advantage‚ one country can produce more output per unit of productive input than another. With comparative advantage‚ if one country has an absolute (dis)advantage in every type of output‚ the other might benefit from specializing in and exporting
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For most countries multiculturalism is the norm. During the last few generations many people have experienced living in a multicultural society and even learnt to somewhat adapt to such a lifestyle. Nonetheless‚ both the positive and negative effects of multiculturalism are actively debated all over the globe‚ with multiculturalism having both its supporters and its critics. A mixture of cultures in a country and‚ on a larger scale‚ in the world is normally down to immigration. Immigration is constantly
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Multiculturalism is the appreciation‚ acceptance or promotion of multiple cultures. Multiculralists believe that in a multi-ethnic society‚ culture difference should be preserved and celebrated because such a vision sees diversity as a positive force‚ increasing richness of communities and actually encouraging tolerance. Multiculturalism supporters embrace diversity as a positive force‚ encouraging and enabling different cultures to learn about each others art‚ literature and philosophy as well
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Multi-cultured societies are mixtures of many ethnic groups. Some people think the advantages of multi-cultured societies outweigh the disadvantages. Do you agree or disagree? I definitely agree with the statement that cosmopolitan societies are better for the overall progress of a country. That is perhaps why nations such as the U.S.A.‚ Canada and Australia‚ which are primarily multi-cultural societies‚ enjoy great prosperity‚ stability and harmony. In the following paragraphs I shall provide
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I have chosen the Comparative Advantage Theory for my key term to discuss. I chose this term because it has a great importance on world trade clearly help shape the pattern of world trade‚ and also to get a better understanding of the concept. Comparative Advantage is the benefit or advantage of an economy to be able to produce a commodity at a lesser opportunity cost. According to Satterlee (2009)‚ opportunity cost is the value of what had to be given up‚ or forgone‚ to consume or achieve the object
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The Absolute Advantage concept is generally attributed to Adam Smith for his 1776 publication An Inquiry into the Nature and Causes of the Wealth of Nations in which he countered mercantilist ideas. Adam Smith argued that it was impossible for all nations to become rich at the same time by following mercantilism because the export of one nation is another nation’s import and instead stated that all nations would gain simultaneously if they practiced free trade and specialized in accordance with their
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