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Strategy Composition
Deborah believes that the current research is narrow-minded and she would like to understand the different ways her company can expand their brand in the global market. In order to expand her brand, Deborah must create and follow strategies that will help her company gain a competitive advantage, in their given market. Having a competitive advantage is important because it enables a company, to perform at a higher level than competitors (Grant, 2013). The other strategies that will benefit John and Deborah’s company profile are joint venture, acquisition, partnership with a local firm or strategic alliance.
Joint Venture
One of the most powerful tools, when entering the foreign market is a joint venture. In simple forms, a joint venture is working or teaming up with a local company (Allen, 2014). Joint venture is a strategic agreement of two or companies to combine and share the market, assets, profits and burdens of each company. Joint ventures are an increasing popular business strategy for maintaining competitiveness in the global and domestic market (Sarkissian, 2014).
Joint ventures are divided into several categories. One type is fully integrated joint ventures and encompass all areas of the business including distribution, sales, marketing and manufacturing. A research joint venture is another type and shares the risks and expenses of research, needed for the company and market. A third type is production joint ventures and helps manufacture higher quality, less expensive, new or different products.
If John and Deborah chose to enter the market with a joint venture, they should seek a local company within their market. By creating a joint venture agreement with a local company, it allows John an...
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...John and Deborah can use to help gain access to a new market and help their brand. It is important to keep in mind that having multiple strategies will help ensure John and Deborah are successful in entering new markets and building their brand name.
References
Allen, S. (2014). Joint venturing 101 what is a joint venture and how do they work? Retrieved April 28, 2014, from http://entrepreneurs.about.com/od/beyondstartup/a/jointventures.htm
Grant, R. (2013). Contemporary strategy analysis (8th ed.). Hoboken, NJ: John Wiley & sons.
Kokemuller, N. (2014). Describe the difference between joint ventures & alliances. Retrieved April 28, 2014, from http://www.ehow.com/info_12129869_describe-difference-between-joint-ventures-alliances.html
Sarkissian, A. (2014). About joint ventures. Retrieved April 28, 2014, from http://www.ehow.com/about_5104456_joint-ventures.html
What is an entrepreneur? definition and meaning. 2016. Business Dictionary. [ONLINE] Available at: http://www.businessdictionary.com/definition/entrepreneur.html. [Accessed 05 April 2016].
"Lobbyist & Lobbying. What Is a Lobbyist. What Does a Lobbyist Do?" Meyers & Associates. Web. 18 Apr. 2014.
MacNab, JJ. “What Is a Sovereign Citizen?” Forbes. February 13, 2012. Accessed May 25, 2014. http://www.forbes.com/sites/jjmacnab/2012/02/13/what-is-a-sovereign-citizen/.
3. Conover, A. (2016). What Google Analytics Can Do For Your Business. Retrieved March, 7, 2016, from http://pointofsale.com/On-Managing/What-Google-Analytics-Can-Do-for-Your-Business.html
... it is can at times be about co-operation and this is evident in the merger of BHP and Billiton in 2001. What BHP Billiton should have learnt from this analysis is that if they continue to diversify, look for new opportunities in emerging markets and maintain a good public image than maintaining success will not be as difficult as it is to build it up in todays times. It is also important to note as it has been evident in the past that the joint ventures and mergers are becoming increasingly more popular as it opens up many different avenues into conducting business in other parts of the world as well as giving more power and control to MNCs in controlling markets, in an increasingly more globalized world we must put at best foot forward to diversify and integrate business and cultures to remain globally competitive.
Business strategy is the means by which firm’s plans to achieve its goals and objectives. It can also be termed as organization long-term planning. The strategy covers periods between 3-5 years and sometimes longer. Businesses use two major types of strategy, general or generic and competitive strategies. The overall strategy involves strategies of growth, globalization and retrenchment. The competitive advantage includes low pricing, product and customer differentiation. We will look at the business strategy used by Marks and Spenser (Cole, 1997). The company is a British multinational located at Westminster London and specializes in clothes and luxurious food products.
Sarkar, A. N., & Singh, J. (2005). New paradigm in evolving brand management strategy. Journal of Management Research, 5(2), 80-90. Retrieved from http://search.proquest.com/docview/237238894?accountid=28644
Pick a local (city, region, or country) brand that has been very successful competing against the bigger global brands in its product category. What are the elements of its strategy that have enabled it to achieve this success? Be prepared to discuss and defend your list of elements with your classmates. Each business has an identity that conveys messages to the consumer about the quality, benefits and values of the product. A brand is defined as a combination of element that consumers use to identify a product.
Beschorner, T (2012, Sep 30). What is Corporate Social Responsibility (CSR)?. retrieved May 6, 2014, from YouTube Web Site: http://www.youtube.com/watch?v=E0NkGtNU_9w
The strategic alliance approached by selling Mazda’s 25% share to Ford motor company. So it was a strategic alliance and shared ownership type. Shared ownership alliance is actually one special form of joint venture.
The topic under review is strategic alliances. This particular form of non-equity alliance between firms in the same industry (competitors) is becoming an increasingly popular way of conducting business in the global environment. Many different reasons of why such alliances are occurring have been recognized. These include: the increasing globalization of the world's economy resulting in intensified global competition, the proliferation and disbursement of technology, and the shortening of product life-cycles. This critique will use Kenichi Ohmae's viewpoint on strategic alliances as a benchmark for comparison. Firstly, a summary of Ohmae's article will be provided. Secondly, in order to critique Ohmae's opinion, it will be necessary to review other literature on the topic. Thirdly, a discussion of the various viewpoints and studies, that have hence arisen, will be discussed in detail. Finally, conclusions will be drawn with implications for companies operating in today's global environment, together with suggestions for future research on strategic alliances.
After a period of continuing growth, the stagnant sales growth of the automotive industry in the late 1970s led all car makers to start to look for methods to fit the new climate. With the purpose of using money on research and development more effectively, spreading the risk of making main components in greater volume, and accessing to new market which were hard to enter, more and more automobile producers reached to the conclusion of collaborating with others. In addition, to remain independent, joint venture seemed to be the best answer. (Campbell, Stonehouse & Houston 2002)
Tallman, S., & Shenkar, O. (2004). International Cooperative Ventures Strategies: Outward Investment and Small Firms from NICs. Management International Review. Vol. 39 (5), 299-315.
S. Bragg. (2010, June 7). What is responsibility accounting? definition and meaning. Retrieved from www.accountingtools.com/: http://www.accountingtools.com/questions-and-answers/what-is-responsibility-accounting.html
The main topic for this Extended Essay is to analyze the effectiveness of company’s market strategy. A marketing strategy can be defined as a process that helps a business to optimize the opportunities in order to complete business objectives, which mainly gain profits. It includes all basic and long-term field activities of marketing that deal with the analyzing of initial strategy, evaluation of the strategy, and making of a new strategy if the initial strategy is found to be ineffective or even might cause loss. (Homburg, Kuester and Krohmer 2009) To make sure the effectiveness of marketing strategy, its crucial to establish the right marketing mix which cover all the element needed in marketing a product. (Clark, et al. 2009)