To evaluate industry structure, firm strategy, and value creation
To profile the features and functions of the value chain
To assess how managers configure and coordinate a value chain
To explain global integration and local responsiveness
To profile the types of strategies firms use in international business
To explain the rationales for governmental policies that enhance and restrict trade
To show the effects of pressure groups on trade policies
To describe the potential and actual effects of governmental intervention on the free flow of trade
To illustrate the major means by which trade is restricted and regulated
To demonstrate the business uncertainties and business opportunities created by governmental trade policies
01 Globalization and International BusinessBrent Weeks
To define globalization and international business and show how they affect each other
To understand why companies engage in international business and why international business growth has accelerated
To discuss globalization’s future and the major criticisms of globalization
To become familiar with different ways in which a company can accomplish its global objectives
To apply social science disciplines to understanding the differences between international and domestic business
02 The Cultural Environments Facing BusinessBrent Weeks
To understand methods for learning about cultural environments
To analyze the major causes of cultural difference and change
To discuss behavioral factors influencing countries’ business practices
To understand guidelines for cultural adjustment
To explain the rationales for governmental policies that enhance and restrict trade
To show the effects of pressure groups on trade policies
To describe the potential and actual effects of governmental intervention on the free flow of trade
To illustrate the major means by which trade is restricted and regulated
To demonstrate the business uncertainties and business opportunities created by governmental trade policies
01 Globalization and International BusinessBrent Weeks
To define globalization and international business and show how they affect each other
To understand why companies engage in international business and why international business growth has accelerated
To discuss globalization’s future and the major criticisms of globalization
To become familiar with different ways in which a company can accomplish its global objectives
To apply social science disciplines to understanding the differences between international and domestic business
02 The Cultural Environments Facing BusinessBrent Weeks
To understand methods for learning about cultural environments
To analyze the major causes of cultural difference and change
To discuss behavioral factors influencing countries’ business practices
To understand guidelines for cultural adjustment
06 International Trade and Factor MobilityBrent Weeks
To understand theories of international trade
To explain how free trade improves global efficiency
To identify factors affecting national trade patterns
To explain why a country’s export capabilities are dynamic
To understand why production factors, especially labor and capital, move internationally
To explain the relationship between foreign trade and international factor mobility
> To define globalization and international business and show how they affect each other
> To understand why companies engage in international business and why international business growth has accelerated
> To discuss globalization’s future and the major criticisms of globalization
> To become familiar with different ways in which a company can accomplish its global objectives
> To apply social science disciplines to understanding the differences between international and domestic business
> To define globalization and international business and show how they affect each other
04 The Economic Environments Facing BusinessBrent Weeks
To communicate the importance of economic analysis
To discuss the idea of economic freedom
To profile the characteristics of the types of economic systems
To introduce the notion of state capitalism
To profile indicators of economic development, performance, and potential
To grasp company strategies for sequencing the penetration of countries
To see how scanning techniques can help managers both limit geographic alternatives and consider otherwise overlooked areas
To discern the major opportunity and risk variables a company should consider when deciding whether and where to expand abroad
To know the methods and problems of collecting and comparing international information
To understand some simplifying tools for helping decide where to operate
To consider how companies allocate emphasis among the countries where they operate
To comprehend why location decisions do not necessarily compare different countries’ possibilities
To examine the broad foundation of ethical behavior
To demonstrate the cultural and legal foundations of ethical behavior
To discuss the importance of social responsibility when operating internationally, especially in the areas of sustainability
To discuss some key issues in the social activities and consequences of globalized business
To examine corporate responses to globalization in the form of codes of conduct, among other things
To learn the fundamentals of foreign exchange
To identify the major characteristics of the foreign-exchange market and how governments control the flow of currencies across national borders
To describe how the foreign-exchange market works
To examine the different institutions that deal in foreign exchange
To understand why companies deal in foreign exchange
03 The Political and Legal Environments Facing BusinessBrent Weeks
To discuss the philosophy and practices of the political environment
To profile trends in contemporary political systems
To explain the idea of political risk and approaches to managing it
To discuss the philosophy and practices of the legal system
To describe trends in contemporary legal systems
To explain legal issues facing international companies
Factors associated with Entry Mode
Timing of an Entry
FIRST MOVER ADVANTAGE
Scale of Entry & Strategic Commitments
ENTRY MODES
Explain exporting, turnkey projects and licensing entry modes with their advantages and disadvantages.
Explain franchising, joint venture and wholly owned subsidiaries with its advantages and disadvantages.
SELECTING ENTRY MODE
PROS & CONS OF ACQUISITION
PROS &CONS OF GREENFIELD VENTURES
What is strategic alliance?
What are the advantage and disadvantages of strategic alliance?
What are the factors contributing to the success of an alliance?
To describe the International Monetary Fund and its role in the determination of exchange rates
To discuss the major exchange-rate arrangements that countries use
To explain how the European Monetary System works and how the euro became the currency of the euro zone
To identify the major determinants of exchange rates
To show how managers try to forecast exchange-rate movements
To explain how exchange rate movements influence business decisions
Global marketing - products & services for consumersRECONNECT
This is the lecture of course "Global Marketing"
This slideshare network of RECONNECT will provide all the presentation related to case studies, project presentations, educational, motivational slides & much more.
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06 International Trade and Factor MobilityBrent Weeks
To understand theories of international trade
To explain how free trade improves global efficiency
To identify factors affecting national trade patterns
To explain why a country’s export capabilities are dynamic
To understand why production factors, especially labor and capital, move internationally
To explain the relationship between foreign trade and international factor mobility
> To define globalization and international business and show how they affect each other
> To understand why companies engage in international business and why international business growth has accelerated
> To discuss globalization’s future and the major criticisms of globalization
> To become familiar with different ways in which a company can accomplish its global objectives
> To apply social science disciplines to understanding the differences between international and domestic business
> To define globalization and international business and show how they affect each other
04 The Economic Environments Facing BusinessBrent Weeks
To communicate the importance of economic analysis
To discuss the idea of economic freedom
To profile the characteristics of the types of economic systems
To introduce the notion of state capitalism
To profile indicators of economic development, performance, and potential
To grasp company strategies for sequencing the penetration of countries
To see how scanning techniques can help managers both limit geographic alternatives and consider otherwise overlooked areas
To discern the major opportunity and risk variables a company should consider when deciding whether and where to expand abroad
To know the methods and problems of collecting and comparing international information
To understand some simplifying tools for helping decide where to operate
To consider how companies allocate emphasis among the countries where they operate
To comprehend why location decisions do not necessarily compare different countries’ possibilities
To examine the broad foundation of ethical behavior
To demonstrate the cultural and legal foundations of ethical behavior
To discuss the importance of social responsibility when operating internationally, especially in the areas of sustainability
To discuss some key issues in the social activities and consequences of globalized business
To examine corporate responses to globalization in the form of codes of conduct, among other things
To learn the fundamentals of foreign exchange
To identify the major characteristics of the foreign-exchange market and how governments control the flow of currencies across national borders
To describe how the foreign-exchange market works
To examine the different institutions that deal in foreign exchange
To understand why companies deal in foreign exchange
03 The Political and Legal Environments Facing BusinessBrent Weeks
To discuss the philosophy and practices of the political environment
To profile trends in contemporary political systems
To explain the idea of political risk and approaches to managing it
To discuss the philosophy and practices of the legal system
To describe trends in contemporary legal systems
To explain legal issues facing international companies
Factors associated with Entry Mode
Timing of an Entry
FIRST MOVER ADVANTAGE
Scale of Entry & Strategic Commitments
ENTRY MODES
Explain exporting, turnkey projects and licensing entry modes with their advantages and disadvantages.
Explain franchising, joint venture and wholly owned subsidiaries with its advantages and disadvantages.
SELECTING ENTRY MODE
PROS & CONS OF ACQUISITION
PROS &CONS OF GREENFIELD VENTURES
What is strategic alliance?
What are the advantage and disadvantages of strategic alliance?
What are the factors contributing to the success of an alliance?
To describe the International Monetary Fund and its role in the determination of exchange rates
To discuss the major exchange-rate arrangements that countries use
To explain how the European Monetary System works and how the euro became the currency of the euro zone
To identify the major determinants of exchange rates
To show how managers try to forecast exchange-rate movements
To explain how exchange rate movements influence business decisions
Global marketing - products & services for consumersRECONNECT
This is the lecture of course "Global Marketing"
This slideshare network of RECONNECT will provide all the presentation related to case studies, project presentations, educational, motivational slides & much more.
Follow Reconnect on slide share.
Official fb page: facebook.com/reconnectt
Official fb group: facebook.com/groups/reconnecting.tech/
Rights are reserved for this presentation. Please inbox 1st to get permission to use this
15 The Organization of International BusinessBrent Weeks
Profile the evolving process of organizing a company for international business
Describe the features of classical structures
Describe the features of neoclassical structures
Discuss the systems used to coordinate and control international activities
Profile the role and characteristics of organization culture
04 process design_Operations ManagementBrent Weeks
A) What is process design?
B) What effects should process design have?
C) Process types – the volume–variety effect on process design
D) Detailed process design
A) What is strategy and what is operations strategy?
B) The ‘top-down’ and ‘bottom-up’ perspectives
C) The market requirements and operations resources perspectives
D) The process of operations strategy
A) Operations performance is vital for any organization
B) The quality objective
C) The speed objective
D) The dependability objective
E) The flexibility objective
F) The cost objective
G) Trade-offs between performance objectives
A) What is operations management?
B) Operations management is important in all types of organization
C) The input–transformation–output process
D) The process hierarchy
E) Operations processes have different characteristics
F) The activities of operations management
12 inventory planning and control_Operations ManagementBrent Weeks
A) What is inventory?
B) Why is inventory necessary?
C) Some disadvantages of holding inventory
D) The volume decision – how much to order
E) The timing decision – when to place an order
F) Inventory analysis and control systems
13 supply chain planning and control_Operations ManagementBrent Weeks
A) What is supply chain management?
B) The activities of supply chain management
C) Types of relationships in supply chains
D) Supply chain behavior
E) Supply chain improvement
11 capacity planning and control_Operations ManagementBrent Weeks
A) What is capacity management?
B) Measuring demand and capacity
C) The alternative capacity plans
D) Choosing a capacity planning and control approach
E) Capacity planning as a queuing problem
03 distributive negotiation slicing the pieBrent Weeks
The Bargaining Zone and The Negotiation Dance; Negotiator’s surplus; Pie-Slicing Strategies; The Most Commonly Asked Questions; The Power of Fairness; Avoiding Problems through Wise Pie-Slicing
02 preparation what to do before negotiationBrent Weeks
The Fixed-Pie Perception; Mixed–Motive Enterprise; Preparation: Self-Assessment; Preparation: Assessing the Other Party; Preparation: Assessing the Situation
Negotiation Skills as Core Leadership competency; What Does it Mean to Be an “Effective Negotiator”; Major Traps of Negotiation; Negotiation Myths; Why are people ineffective negotiators; Principles of the Negotiator
Key Challenges of Multiparty Negotiations; Key Strategies for Dealing with Multiparty Negotiations; Coalitions; (Dis)Advantages to Using Agents; Strategies for Effectively Working with agents; Constituents; Challenges That Face Negotiating Teams; Strategies for Improving Team Negotiations; Challenges of intergroup Negotiations; Strategies for optimizing Intergroup Negotiations
06 establishing trust & building relationshilpBrent Weeks
What do negotiators care about; People side of win-win; Types of Trust in Relationship; Building Trust: Rational and Deliberate Mechanism; Building Trust: Psychological Strategies; What Leads to Mistrust; Process for Repairing Broken Trust; Reputation; Relationships in Negotiation
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RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
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Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
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Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Chapter 11: The Strategy of International Business
The Learning Objectives for this chapter are
To evaluate industry structure, firm strategy, and value creation
To profile the features and functions of the value chain
To assess how managers configure and coordinate a value chain
To explain global integration and local responsiveness
To profile the types of strategies firms use in international business
This Figure shows how a firm’s strategy is influenced by outside forces. In particular, the environment for multinational companies is shaped by cultural, political, legal, economic, trade, monetary, governmental, and institutional forces.
The goal for managers is to design a strategy that allows the company to compete successfully in international markets and sustain its growth.
Learning Objective 1: To evaluate industry structure, firm strategy, and value creation.
An industry is composed of those companies engaged in a particular type of enterprise. How an industry is structured influences the profitability of companies, particularly in situations where there is perfect competition. Industry structure involves the relationships among suppliers of inputs, buyers of outputs, substitute products, potential new entrants, and rivalry among competing firms.
Does industry structure change? Yes, many things can prompt a change including new products, new firms, new markets, and new managers. If changes are significant, firms may have to reassess their strategy.
Perfect competition presumes many buyers and sellers such that no individual affects price or quantity, there is perfect information for both producers and consumers, that there are few, if any, barriers to entry and exit, that full mobility of resources exists, and that firms and buyers have perfect knowledge.
Do perfect markets exist? Well, most industries aren’t perfect, and companies typically have different levels of profitability. In fact, industries that are most attractive typically have imperfect competition that allows companies to seek above-average profits. It is in these industries that the power of innovative executives becomes so apparent as they devise strategies that create value.
Strategy can help managers assess a company’s position, identify where it should go, and determine how to get there.
Companies create value using either a cost leadership strategy or a differentiation strategy. The former reduces costs below those of competitors for a given level of quality, while the latter involves developing products that customers value and that rivals find hard, if not impossible, to match or copy.
Another way to think about the two approaches is that a differentiation strategy focuses on innovation while a cost leadership strategy emphasizes efficiency.
Learning Objective 2: To profile the features and functions of the value chain.
Regardless of which strategy a firms uses, cost leadership or differentiation, it can be helpful to think of the value creation process using the value chain. The value chain separates the notion of “creating value” into a series of discrete, sequential activities.
This Figure shows the different primary and support activities in the value chain.
This Table provides details on the different activities that make up the primary and support activities in the value chain.
Learning Objective 3: To assess how managers configure and coordinate a value chain.
Multinational companies have to efficiently distribute value activities and link them effectively. This can be done using a concentrated strategy or using a dispersed approach. The goal is to put value activities in the optimal location in the world to exploit location economies - the economies that arise from performing a value activity in the most productive location or locations given prevailing economic, political, legal, and cultural conditions.
What influences the configuration of the value chain? Several things do including the quality of the business environment, innovation context, resource costs, logistics, digitization, and scale economies.
The business environment can affect the ease of doing business. Generally, it easiest to do business in high income countries.
Innovation context is important because going forward, the pace of innovation accelerates. In fact, the singularity principle suggests that the change will be so fast that it will seem to be expanding at infinite speed.
Resource costs like wage rates, worker productivity, resource availability and so on can also affect the configuration of the value chain.
Logistics refers to how companies obtain, produce, and exchange material and services in the proper place and in proper quantities for the proper activity. Companies try to minimize the expense associated with logistics.
Digitization involves converting an analog product into a string of zeros and ones. Digital activities can be located just about anywhere, and in fact today it’s allowing activities to be dispersed that had always been concentrated in a few locations. X-rays can now be taken in one country and read in another. Similarly, legal services can be outsourced to optimal locations.
Finally, firms want to gain economies of scale where possible. This often requires companies to concentrate the value chain.
Once the firm has worked out the best configuration of the value chain, it must work on linking the various activities. This is known as coordination.
Several factors influence coordination. Operationally, companies must deal with different languages, time zones, and so on as they pull together the different parts of the global value chain. While still quite challenging, improvements in communication have made this task easier today.
A firm’s core competencies also affect coordination. Keep in mind that this special ability, outlook, or skill can emerge from different areas in the firm. For example, a firm’s core competencies may be a result of product development or employee productivity. Similarly, a firm may have core competencies in manufacturing expertise, marketing, or leadership.
Finally, it’s important to consider the role of subsidiaries. The Internet and the real time connectivity it provides has changed the nature of this process. Today, information can flow easily between subsidiaries and the different parts of the value chain allowing for much greater and richer coordination. Firms have even embraced the power of social networks as a means of improving coordination.
Once the value chain is configured and coordinated, it’s time to consider change. Managers need to view the value chain and its configuration as a fluid concept – one that could change at any point depending on the factors that influence it. Some managers are able to anticipate change and adapt accordingly. For others, it’s an ongoing struggle.
Learning Objective 4: To explain global integration and local responsiveness.
When firms develop their strategies they face two conflicting pressures. On one hand they have pressure to standardize and concentrate configuration. On the other hand, they face pressure to disperse configuration and adapt coordination.
When there are strong pressures for global integration, firms will need to concentrate configuration and standardize coordination. The globalization of markets along with the efficiency gains that come with standardization are two main drivers of global integration. Standardization is attractive because of the cost savings it creates for both the firm and the consumer.
Despite the benefits of global integration, firms may find that there is considerable pressure to be locally responsive. A major reason to be locally responsive is the need to respond to consumer preferences. Consumers may be willing to pay a premium to get what they really want. In some case, local government policies dictate certain strategies.
This Figure shows how different industries fall in the integration/responsiveness grid. Managers can use the IR grid to determine strategy based on the different pressures they are facing.
Learning Objective 5: To profile the types of strategies firms use in international business.
There are four generic strategies used by multinational companies: the international, multidomestic, global, and transnational strategies.
The international strategy works well when the multinational has a core competency that foreign rivals lack, and pressures for local responsiveness and for global integration are both low. However, because key aspects of the value chain are centralized at headquarters there is little input from foreign markets and opportunities may be missed.
The multidomestic strategy makes sense when pressures for local responsiveness are high, and those for global integration are low. Because it involves adapting value added activities to local market conditions, it is a costly strategy to implement.
The global strategy works well when worldwide standardization is possible. This is usually the case for commodities, for example. However, keep in mind that because it emphasizes cost reductions is does not allow for local responsiveness, a situation that can be problematic if market conditions change.
Companies following a transnational strategy balance the conflicting pressures for local responsiveness with those for global integration. They emphasize global learning and the diffusion of knowledge throughout the organization. Keep in mind that while this strategy seems to allow firms to get the best of both worlds, it’s complicated and difficult to implement.
What strategies will firms follow in the future? No one really knows. Some people think the multinational company will continue to evolve. This new, globally integrated company will design its strategy, configure its activities, and coordinate its processes to connect everything, everywhere, 24/7. Others think that this new version of the multinational will emerge, but on a smaller scale. These new Micro-Multinationals go global immediately.
The term Glorecalization has been used to describe another type of firm – one that balances global and local demands, but at the same time organizes the value chain on a regional basis.
Finally, the Cybercorp refers to a firm that operates in a world where Internet technologies define boundaries.