The generalized double diamond approach to international competitiveness

Abstract

Porter's single, home-based, diamond is relevant for larger triad economies like the United States and Japan. For smaller countries a generalized double diamond approach is required. This approach requires analysis of both the home diamond of the small country and the diamond of its largest trading and investment partner. This new framework is applied to Canada and South Korea. The generalized double diamond is a better way to relate foreign direct investment and the role of government to the competitiveness of firms, industries and nations.