33:620:301 Study Guide - Final Guide: Franchising, Startup Company, World Trade Organization
5 Jul 2016
School
Department
Course
Professor
Document Summary
Global strategy: competing internationally, core strategies for international businesses, strategic options for entering international markets, building competitive advantage in international markets, strategies for competing in emerging markets. Why enter foreign markets: access new customers, exploit core competencies, spread business risk, lower costs, access resources/capabilities. International business complexities: home-country advantages, location-based value chain advantages, government policies, tax rates, and economic conditions, currency exchange rate risks, differences in buyer tastes & preferences for products and services. Lower costs due to scale & scope economies. Greater efficiencies due to the ability to transfer best practices across markets. More innovation from knowledge sharing & capability transfer. Benefit of a global brand & reputation: disadvantages: Less responsive to changes in local market conditions. Multi-domestic strategy (think local, act local: advantages: Meet the specific needs of each market more precisely. Respond more swiftly to localized changes in demand. Target reactions to the moves of local rivals. Respond more quickly to local opportunities & threats: disadvantages:
