Competitive advantage of a nation in the global arena: a quantitative advancement to Porter's diamond applied to the UK, USA and BRIC nations

Abstract

᭹ Improvements in technology, communication and infrastructure are driving aspects of globalization to new heights. In the light of this, there are interesting debates on the growth of the BRIC nations (Brazil, Russia, India and China) relative to the competitive advantage of the main OECD nations. This paper utilizes the framework within Porter's diamond of competitive advantage and develops a quantitative approach to determine the competitive advantage of a nation. ᭹ This approach has so far eluded most contemporary discussions surrounding Porter's diamond.This paper attempts to redress this balance by providing a more robust framework for assessing the relative global competitive advantage of a nation. Applying this approach to the BRIC nations, the UK and the USA has yielded some interesting results indicating that the UK is currently the most competitive nation and that China will soon position itself as a truly competitive one.analyse the competitiveness of a nation. In this respect, Porter's diamond (1990) has been the subject of much debate and discussion over the recent past. The fact that Porter's diamond only explored ten nations and that even within the ten countries, only significant clusters were explored, means that the diamond theory still has considerable potential for improvement and application. Studies such as Cartwright (1993) and Brouthers and Brouthers (1997) have focused on this area. Porter (1990) states that a nation's competitive advantage is not dependent on its natural resources alone; it depends on innovation and Strat. Change 15: 283-294 (2006) Published online in Wiley InterScience (www.interscience.wiley.com)

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