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  • 1. Chapter 8: Strategy Formulation and Implementation<br />Taylor Minter, Marco Pasquinelli, and Sarah Stanley<br />
  • 2. Objectives<br />Define and elaborate on strategic management<br />Understand four basic options for international strategies for MNCs<br />Explain how to formulate strategy<br />Discuss how to implement strategy<br />
  • 3. Agenda<br />Define strategic management<br />Explain the three basic steps to form a strategy<br />Examine the four approaches to strategy<br />Explore the implementation process<br />Discuss the case study<br />
  • 4. Strategic Management (SM)<br />What is your definition?<br />Process of determining an organization’s basic mission and long-term objectives, then implementing a plan of action for attaining these goals.<br />Why is SM important in organizations?<br />Dilbert<br />
  • 5. Strategic Management<br />Why do we need SM?<br />Keep track of increasingly diversified operations in an international environment<br />Coordinate and integrate these operations with a unified and agreed-on focus<br />Examples <br />
  • 6. The Strategic Management Process<br />External<br />Analysis<br />Strategic<br />Choice<br />Strategy<br />Implementation<br />Competitive<br />Advantage<br />Objectives<br />Internal<br />Analysis<br />
  • 7. Environmental Scanning<br />
  • 8. Internal Resource Analysis<br />Evaluates current managerial, technical, material, and financial resources and capabilities to better assess its internal strengths and weaknesses.<br />Key success factor (KSF) – is a factor that is necessary for a firm to compete effectively in a market niche<br />
  • 9. Goal Setting For Strategy Formulation<br />Profitability<br />Marketing<br />Operations<br />Finance<br />Human Resources<br />
  • 10. Formulating and Implementing Strategy<br />Economic - worldwide strategy based on cost leadership, differentiation, and segmentation<br />Political- utilizing strategies that are country-responsive and designed to protect local market niches<br />¥ € $<br />
  • 11. Discussion<br />COCA COLA<br />dELL<br />Released Sprite Tea in China<br />A combo of China’s 2 most popular beverages<br />Breathe new life in China beverage market<br />Way to gain more of Chinese market<br />Switched to a just in time processing system to cut down on costs and inventories<br />Computers are now build to order<br />
  • 12. Formulating and Implementing Strategy<br />Administrative Coordination- the MNC makes strategic decisions based on the merits of the individual situation rather than using a predetermined economically or politically driven strategy<br />
  • 13. Formulating and Implementing Strategy<br />Quality- utilizes strategies of total quality management to meet or exceed customers’ expectations and continuously improve products or services<br />Tate’s Chicken<br />Show us your pizza<br />Man hungry<br />
  • 14. Global vs. Regional Strategies<br />Globalization vs. national responsiveness<br />Matrix<br />Global strategy<br />International strategy<br />Transnational strategy<br />Multi-domestic strategy<br />McDonalds<br />
  • 15. Global vs. Regional<br />Some international management experts contend that globalization and national responsiveness are diametrically opposed forces, and that to accommodate one, a multinational must relax its efforts in the other. In what way is this an accurate statement? In what way is it incomplete or inaccurate?<br />
  • 16. Strategy Implementation<br />It provides goods and services in accord with the plan of action<br />When is a time in your life or job that you have implemented a strategy? <br />
  • 17. Implementation<br />The first stages of strategy implementation are choosing your location<br />Consider which country<br />Then choose the specific location in the country<br />
  • 18. Implementation<br />To implement the strategy three areas must be used<br />Marketing<br />Production <br />Finance <br />
  • 19. Special Circumstances<br />When a MNC is dealing with an emerging market, which is in an unstable country and a riskier investment so strategies need to be adjusted<br />First-Mover Strategies <br />“Base of the Pyramid” Strategy <br />What are the benefits of the two I<br />and is one better than the other?<br />
  • 20. Special Circumstances<br />International Entrepreneurship- a combination of innovative, proactive, and risk-seeking behavior that crosses national boundaries and is intended to create value for organizations<br />New Ventures/born global- firms that engage in significant international activities shortly after being established<br />
  • 21. Case Study<br />What type of entry and ownership approach would you recommend? Defend your choice.<br />How could the partners use the four Ps of marketing to help implement strategy?<br />If production must be globally coordinated, will visions have a major problem? Why or why not?<br />

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