International competition shapes domestic industry dynamics from "summary" of Competitive Strategy by Michael E. Porter
The interplay between international and domestic competition is a critical factor in determining the dynamics of industries within a country. When companies in an industry face competition from foreign firms, they are forced to improve their efficiency and effectiveness in order to survive and thrive in the global marketplace. This pressure from international competitors can lead to increased innovation, cost reduction, and overall competitiveness within domestic industries. International competition also shapes domestic industry dynamics by influencing strategic decision-making. Companies must consider the competitive landscape on a global scale when formulating their business strategies. They may need to adapt their products, processes, and marketing approaches to meet the demands of international markets a...
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