In this episode of "IN Practice Podcast" we will discuss how companies are constantly seeking ways to gain a competitive advantage in today's globalized economy. One theory that has gained popularity is Michael Porter's competitive advantage of nations, also known as the diamond framework. The diamond framework identifies four key factors contributing to a nation's competitive advantage: factor conditions; related and supporting industries; firm strategy; structure and rivalry; and demand conditions. These factors work together to create an environment that fosters innovation, productivity, and competitiveness.