Working individually and collaboratively, companies can catalyze major improvements in the local business environment in the regions in which they have major operations. Factors affecting the local business environment—discussed in more detail in Michael Porter’s work on economic development—include the availability of a skilled workforce, supplier availability, institutions, infrastructure, and regulatory framework.
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The diamond Model
Strong clusters, strong communities
Building a strong local cluster improves company productivity and growth while raising regional competitiveness. Local cluster development strengthens the link between a company’s success and community success.
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