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The presentation is an extensive discussion of the various aspects involved in formulating successful business strategies. The presentation opens by showing that while a corporate giant like Wal-Mart may have been successful in the United States, it initially failed aboard because it was not able to strategize properly on the intricacies of entering a foreign market, a problem that it later solved. The presentation goes on to discussing the different proactive and reactive reasons for entering foreign markets, with a focus on Mexico’s Cemex which “is aggressively growing via worldwide acquisitions.
” Once sufficient reasons for entering a foreign market has been established, the next course of action is to assess the country that is targeted on various levels.
These levels include political and currency stability, the level of nationalism of the country in protecting its local businesses and the competitiveness of its businesses in the international economic sphere. There are several sources of information for this assessment which can include business databases, clipping sources, and internal sources.
If the country targeted passes the assessment, the next step is conducting internal and competitive analyses.
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The internal analysis determines if the company has enough technological capability, distribution channels, and promotion strength to operate in the foreign market while the competitive analysis compares the companies’ abilities with those of the competitors that it would be facing. The company should “the world as an undifferentiated worldwide marketplace” in order to take advantage of a global strategy.
The use of technology is explained by comparing between e-global and e-local strategies and it is explained that e-global is more applicable when there is a global scope for the services offered, the transport logistics is manageable, and the business model can be easily hijacked if pulled off locally.
Different entry strategies can be used when entering the foreign market and this ranges from exporting to acquiring subsidiaries. Lastly, the timing and scheduling of entry should be strategize in order to be sensitive to cultural difference across markets.
Successful Business Strategies. (2020, Jun 02). Retrieved from https://studymoose.com/successful-business-strategies-essay
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