Lessons From Late Movers
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The document discusses strategies for companies from peripheral countries to break into global markets dominated by multinationals from Europe, Japan, and the US. It outlines factors like overcoming the "liability of origin", pushing expansion from domestic success, pulling in expertise from abroad, benchmarking foreign competitors, confronting industry traditions, protecting past capabilities, and investing in new capabilities. Late movers can learn from global players entering their home markets and copy or innovate business models.
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School of Management
Michael Porter’s Diamond Model:
Sources of National Competitive Advantage
Firm strategy, structure, and rivalry – the presence of strong competitors at home serves as a national competitive advantage
Factor conditions – labour, natural resources, capital, technology, entrepreneurship, and know how
Demand conditions at home – the strengths and sophistication of customer demand
Related and supporting industries – availability of clusters of suppliers and complementary firms with distinctive competences
RMIT University
School of Management
*
School of Management
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Industrial ClustersA concentration of suppliers and supporting firms from the same industry located within the same geographic area
Examples include: the Silicon Valley, fashion cluster in northern Italy, pharma cluster in Switzerland, footwear industry in Pusan, South Korea, and the IT industry in Bangalore, India
Can serve as a nation’s export platform
RMIT University
School of Management
*
School of Management
National PolicyProactive economic development plan enacted by the government to nurture or support promising industries sectors. Typical initiatives:
Tax incentives
Investment incentives
Monetary and fiscal policies
Rigorous educational systems
Investment in national infrastructure
Strong legal and regulatory systems(Examples: Japan, Dubai, and Ireland)
RMIT University
School of Management
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School of Management
Activity 1: Diamond ModelPlease discuss the concept of Porter’s diamond model and apply it to one industry in one country.
RMIT University
School of Management
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School of Management
Bartlett and Ghoshal’s Model of Internationalization Strategy
RMIT University
School of Management
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School of Management
Source: Adapted from Bartlett and Ghoshal (1991)., Managing Acrocc Border, Harvar.
Growth Strategies: Growth Drivers - Innovation and Entrepreneurship
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This presentation analyzes the different strategies adopted by multinational enterprises (MNEs) to coordinate their international operations. It describes international, multi-domestic, global, and transnational strategies, highlighting their strengths and weaknesses. As a case study, it examines Procter & Gamble's strategy over time, from initially using an international approach in the 1930s, to adopting multi-domestic and eventually transnational strategies as it expanded globally. The transnational strategy allows P&G to balance global efficiency with local responsiveness but also poses management challenges to coordinate decision-making across subsidiaries.
Entrepreneurial Mindset M1
The document discusses entrepreneurship and innovation. It defines entrepreneurs as risk-takers who identify opportunities, take action to exploit opportunities, and establish competitive advantages. Entrepreneurs invent new products/services, spot gaps in markets, and improve existing entities. Innovation is creating commercial products from inventions or bringing new inventions into use. Most innovations are incremental improvements, while radical innovations provide technological breakthroughs. Entrepreneurs integrate knowledge and resources to commercialize inventions, and sometimes acquire other companies to rapidly expand product lines and revenues, though acquisitions risk reducing internal innovation. The document uses Henry Royce and the founding of Rolls-Royce as an example of entrepreneurship and innovation.
An International Story To Success Marketing
An international beauty company started in 1909 by a young chemist and has since acquired leading local brands, invested in all countries to diversify risks, maintained growth in European and American markets, and built a larger distribution chain than competitors. The company sets itself apart through product innovation, research and development across international markets, adapting products to cultural expectations while standardizing formulas.
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Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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- 1. Going Global Presented by: Diana Lim April 21, 2011 Lessons from Late Movers
- 4. $25 Made in Indonesia $25 Made in Japan
- 5. $15 Made in Indonesia $25 Made in Japan