Swiss Chocolate Industry Analysis
An industry is defined as the compartmentalization of groups of companies that are linked first to their business activities. Banking industry is one of the most successful industry in Lebanon, it participates in more than 8.5% of the national GPD. We have many industry here in Lebanon to talk about such as food and beverage industry, tourism industry, agriculture industry, clothes industry, and many more. In this essay we will discuss about the chocolate industry. Swiss chocolate is catheterized as the highest standard in the world of the best chocolate since 1819, while Lebanon is known as “the Switzerland of the Middle East” Globalization nowadays plays an important role in understanding effect of country of origin [COO] on food products. …show more content…
That’s why companies should always innovate. “Following Adam Smith (1937) and David Ricardo 's (1962) attempts to explain the mechanisms of industry competitiveness through absolute advantage theory and comparative advantage theory, many scholars have proposed various economic theories to advance our understanding of this phenomenon (Dorfman, 1991). Among them, Porter 's competitive advantage theory has been recognized as one of the most influential (e.g. Adner and Zemsky, 2006; Pavlou and Slawy, 2004)” Usually consumers are too picky, they want the best quality at a cheap price that’s how they push the company to do its best to deliver the best quality. The third diamond is “the related and supporting industries”; when the product become popular in a certain country, companies will move their location in order to open its stores near them, it will create clusters which lead to the knowledge advantage. It will create a close relationship at work, exchanging idea, opinions, and innovations. For example Nestle will move or open a new branch to a near popular chocolate factory in Switzerland. The last diamond of national advantage is “Firm strategy, structure, and rivalry” when the percentage of competitiveness increase; the production of good products and services will directly increase in order to reach the goal and satisfy the customer. It will also lead to encourage small businesses to become a medium company, and the medium company to a large company and of course to more innovate in large companies while producing new products … Attaining success worldwide makes an industry prestigious reinforcing its advantage. In addition, when you notice that your competitor or neighbor at work is working hard, you are directly pushed to increase your
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