Find out as much as you can about the international trade of the country you selected in module 1. Answer the following two questions in a 2 page paper and post it by the end of this module. Please be sure to use the proper paper format.
Visit these websites:
World Bank Data from Indicators: Exports, ODA, Services, Goods, Imports http://worldbank.org
Globalization Index: http://globalization.kof.ethz.ch/
World Trade Organization: http://wto.org
Determine how international trade affects how easy it is for your country to do business.
SLP 2 Assignment Expectations
Continue to write about the country you selected in Module 1.
Write 2 pages discussing the type(s) of international trade aspects of your country.
Illustrate how open or not your country is to international trade. List supporting references and cite sources.
Use appropriate writing style (organization, grammar, & spelling- see Writing Guidelines).
A Global Strategy
Defining and understanding generic competitive strategies and formulating a strategy. How do managers deal with business on a global level contrasted with a domestic level in a rational and strategic manner?
Deciding upon a strategy in an international context presents many challenges. To do this, we begin by classifying the various approaches to overseas strategy. One way to do that is to divide strategies into the dispersed multidomestic, centralized international, integrated global, and transnational approaches.
Each approach has its own characteristics, imperatives, advantages, and disadvantages as follows:
The multidomestic approach locates the firm autonomously in separate countries; responds to national operational, product, and market requirements; and affords flexibility. It customizes products and marketing strategies to the local needs. It is advantageous when local pressures are high and cost pressures low. Philips NV uses the multidomestic approach.
The international approach transfers distinctive competencies to foreign markets; responds to national operational requirements and worldwide product and market requirements, and offers control, standardization, and choice locations for various functions that afford economies of scale. This strategy is appropriate when there is a high demand for that competency in a foreign country, while the need to customize it locally is relatively low. McDonald’s Company is an example of an organization that uses an international approach.
The global approach responds to a low-cost strategy, with a standardized product and marketing worldwide. The costs of customization are thus avoided. This strategy does not apply to consumer goods markets. Intel Corporation is an example of an organization that uses the global approach.
The transnational approach is ideal; it customizes products and marketing strategies to local needs and demands; it transfers competencies; it takes advantage of cost savings. Caterpillar Inc. pursues the transnational approach.
Professor Michael Porter from Harvard University is a guru of strategic management. He is a major player in the field of strategy and established it as an essential business management discipline.
Michael Porter developed fundamental frameworks for use in strategic management, such as “Porter’s Five Forces Model”, “Generic Strategies”, and ”The Porter Diamond” .
Peng, M. (2014) Chapter 1: Strategizing Around the Globe, Global Strategy, 3rd Edition, South-Western Cengage Learning, http://www.utdallas.edu/~mikepeng/documents/GS3E_CH1_intro_1207.pdf
Steers, R., Nardon, L. (2006) Chapter 10: Developing Global Business Stratigies, Managing in the Global Economy, M.E. Sharpe, Inc, Armonk, NY [Available in Ebrary]
Deresky, H. (2008) Formulating Strategy, International Management, Perason Education International, http://www.staunstrup.net/BA_Int_Sales/SOL_2_sem/Int_Man_kap_6.PDF
Humphrey, S. (2010) Introduction to Global Strategy, London School of Business and Finance http://www.youtube.com/watch?v=vII1HJcCxTk
Lynch, R., (2013) How Do You Build a Global Strategy? Global Stragegy, http://www.global-strategy.net/how-do-you-build-a-global-strategy/
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