MOS 4410 - Chapter 7 - International Strategy Creating Value in Global Markets.docx

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Management and Organizational Studies
Management and Organizational Studies 4410A/B
Raymond Leduc

Chapter 7 International StrategyCreating Value in Global MarketsThe Global EconomyA Brief OverviewForeign markets provide many opportunities for firms to increase their revenue base and their profitability Trade among nations has increased dramaticallyby 2015 the trade across nations will exceed the trade within nations Rise of globalization and market capitalism around the world has contributed to the economic boom in the New Economy where KNOWLEDGE is the key source of competitive advantage and value creationTaxes and decades of illdesigned economic policies have kept Guatemalas masses in povertyMarketing to the bottom of the pyramid allows multinational firms to target their goods and services to the nearly 5 billion poor people in the world who live in developing countriesFactors Affecting a Nations Competitiveness Michael Porterthere are 4 broad attributed of nations that constitute the diamond of national advantage1Factor EndowmentsNations position in factors of production such as skilled labour or infrastructureLand labour and capital are the building blocks that create usable consumer goods and servicesFactors of production must be developed that are industry specific and firm specific Pool of resources they have at their disposal is less important than thespeed and efficiency with which these resources are deployedknowledge and skills created within a country that are rare valuable difficult to imitate rapidly and efficiently deployedcompetitive advantage2Demand ConditionsThe nature of homemarket demand for the industrys product
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