1. 400-600 words As the firm looks for ways to offset
400-600 wordsAs the firm looks for ways to offset the domestic downturn in sales,
Deborah, the CEO of your company, wants to determine if a global strategy is a good fit for
the organization. She has designated you as the manager for this project. You will work
with your team to develop a global marketing plan for your organization.You begin your
research in deciding if and what the global strategy should be. You get your team together
and begin to discuss a plan on how you will research this possibility.You start the meeting
by saying “Let’s brainstorm and start to get a plan together for a possible globalization
strategy. Tiffany, I’d like you work with me to begin researching possible locations.”Tiffany
says, “I think we need to research some locations, but I think there is more to it than that.
There still needs to be a decision on the type of strategy or approach we are taking. Would
we use a multidomestic approach, a global approach, or a transnational approach? I’m still
not entirely convinced a global strategy is the answer.”“Great point, Tiffany. It is obvious to
me as well that we need to explore a strategy that will put us in a better position to handle
the economic downturn. We have to provide the board with the facts. They seem to be
leaning in the direction of a global strategy, but I’m not sure it’s the right move either. That’s
why we need to do research.”Domestic profit margins have dropped by 2% this quarter.
You wonder how you and your team can help fix this. Is a global strategy the answer, or
should the company continue to focus on the domestic market?You call a team meeting to
learn about the progress of their research. Tiffany, one of your team members, begins the
discussion. “I think we need to look at some of the internal factors,” she says. “We know
what our capabilities are on the domestic front, but what about in the global market? We
have a fairly strong market presence here in higher-end markets, but how does that
translate globally?”Discuss the following:How do you define a global strategy?Identify a
minimum of 3 possible countries for globalization. Research each of these locations in the
furniture industry, and discuss both the pros and cons of including them in a global
strategy.Of the three countries, what one country would you choose for globalization and
why?