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Essay / Research Paper Abstract
5 pages in length. It is a well-known adage that a Jack of all trades is also a master of none, a wise saying that not only applies to individuals who spread themselves too thin but can also represent the economic practices of super power countries like the United States. Determining whether or not engaging in targeted industrial development is the right decision for remaining competitive in the global environment is an assessment based upon myriad factors that – when taken both independently and as a collective sum – illustrates why this approach might work for some nations yet not others. The United States has historically enjoyed a tremendous wealth of significantly vast and varied industrial development that has allowed for the nation as a single entity, as well as the states acting as self-governing agents on their own behalf, to reap the economic benefit of many industries. Being that this overall broad-brush approach to economic stability has proved viable amidst growing global competition, there is no truly worthwhile reason to change tactics midstream. Bibliography lists 4 sources.
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5 pages (~225 words per page)
File: LM1_TLCTargInds.rtf
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Unformatted sample text from the term paper:
that not only applies to individuals who spread themselves too thin but can also represent the economic practices of super power countries like the United States. Determining whether or
not engaging in targeted industrial development is the right decision for remaining competitive in the global environment is an assessment based upon myriad factors that - when taken both independently
and as a collective sum - illustrates why this approach might work for some nations yet not others. The United States has historically enjoyed a tremendous wealth of significantly
vast and varied industrial development that has allowed for the nation as a single entity, as well as the states acting as self-governing agents on their own behalf, to reap
the economic benefit of many industries. Being that this overall broad-brush approach to economic stability has proved viable amidst growing global competition, there is no truly worthwhile reason to
change tactics midstream. There need not be a number of reasons why a particular option simply does not work for a given entity when a single argument equals the weight
of a dozen. To move Americas economic infrastructure from its current expansive state to one that pares it down to but a fraction of what has long been the
norm may be given more credence if it were not for the fact that industry targeting requires a certain level of fortune telling for it to be even remotely successful.
Barkley et al (2005) drive this point home when they note how a prerequisite to targeting industries "is the identification of future regional competitive advantage based on past labor
force characteristics, unique regional attributes, and proximity to input and product markets." Moreover, the right pairing must be established between a given regions competitive advantage and those industries inherently
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