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Graded Discussion Board No. 02
Due Date: June 28, 2012
Objective of Discussion
The objective of this discussion is to get the students familiar with the concept of “Nation’s competitive advantage” and generate a discussion with reference to Pakistan.
Real time scenario
The theory of Nation’s competitive advantage, coined by Michael Porter, is one of the most researched theories in academia and has vital practical implications in international marketing and economic expansion. This theory refers to the capability of a nation to produce a specific good or service with supreme quality at lowest opportunity cost. Today, instead of allocating scarce resources in producing every possible good or service within the country, countries are allocating their resources in producing those goods and services in which they have absolute competitive advantage. Competitive advantage is strongly associated with innovation that can be observed as exclusive product designs, latest production process and modern marketing approaches. World Economic Forum issues world ranking of Global Competitiveness every year where the countries are ranked on the following criteria of competiveness.
ü Macro economy
ü Health and primary education
ü Higher education and training
ü Market efficiency
ü Technological readiness
ü Business sophistication
The discouraging fact is that Pakistan has ranked on 118th position in 2011-12 in Global Competiveness ranking whereas most of the Asian countries have moved in first 30 positions. 118th position depicts that the performance of Pakistan in aforementioned areas is very poor and we are wasting out scarce resources. Pakistan possesses textile industry, fan industry, sports industry, carpet industry, leather industry, stone industry last but not the least agricultural and agro-based industry still the competitive ranking is worth alarming and discouraging.
Point of Discussion (POD)
You are supposed to analyze the aforementioned scenario and identify those factors that have adversely damaged the competiveness of Pakistan in the global world.
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