Management
12th Edition
ISBN: 9781305393462
Author: DAFT, Richard L.
Publisher: South-Western College Pub
expand_more
expand_more
format_list_bulleted
Question
Chapter 8, Problem 10DQ
Summary Introduction
To determine:
Whether globalization is a strategy that best suits the enterprise and what factors would influence the decisions?
Introduction:
Globalization is the modern process of businesses developing international influence or operating on an international scale. It is a primary process of interacting and integrating with other individuals, companies and governments of different nations. This process is often driven by international trade, investment and technological advancements leading to alternative growth strategies that exposes business beyond local boundaries. Glocalization is the process of designing and conducting business according to local and global requirements. Multi- domestic is a process that aims to maximize local responsiveness by customizing their product, service and marketing strategy to match different countries.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Traveling and working internationally can lead to a life of adventure and unique career experiences. For businesses, selecting the right candidates to take on foreign assignments can propel, delay, or deny the success of international ventures.
As an international manager, identify key competencies you would look for in choosing expatriates. What might be some of their concerns in taking on overseas assignments? What are some best practices in supporting experts during and after their assignments?
What do you think are the importance and benefits of having an effective strategic plan for any tourism and hospitality business?
You are a successful entrepreneur operating a local business for the last five years in your chosenindustry. Since your business has grown over the years you have now decided to take your businessoverseas and are considering two options. The first is to enter another Asian country with yourproduct/service and the other is to enter a country in Europe.
Choose ONE of the two chosen countries and the organization above, explain how thefollowing international business theories can be used when making the decision to gointernational? Please include the limitations of these theories and how they can impact internationalexpansion.
1. Raymond Vernon’s product life cycle2. John Dunning’s eclectic theory3. Porters Diamond model4. Johanson and Vahlne’s Uppsala model5. Hofstede's cultural dimensions theory model
Chapter 8 Solutions
Management
Ch. 8 - Prob. 1OTJVCCh. 8 - Prob. 2OTJVCCh. 8 - Prob. 3OTJVCCh. 8 - Prob. 1DQCh. 8 - Prob. 2DQCh. 8 - Prob. 3DQCh. 8 - Prob. 4DQCh. 8 - Prob. 5DQCh. 8 - Prob. 6DQCh. 8 - Prob. 7DQ
Ch. 8 - Prob. 8DQCh. 8 - Prob. 9DQCh. 8 - Prob. 10DQCh. 8 - Prob. 1EECh. 8 - Prob. 2EECh. 8 - Prob. 3EECh. 8 - Prob. 4EECh. 8 - Prob. 5EECh. 8 - Prob. 6EECh. 8 - Prob. 7EECh. 8 - Prob. 8EECh. 8 - Prob. 9EECh. 8 - Prob. 10EECh. 8 - Prob. 1SGBCh. 8 - Prob. 1EDCh. 8 - Prob. 2EDCh. 8 - Prob. 3EDCh. 8 - Prob. 1CFCACh. 8 - Prob. 2CFCACh. 8 - Prob. 3CFCA
Knowledge Booster
Similar questions
- The form and substance of a company’s response to global market opportunities depend greatly on management’s assumptions or beliefs—both conscious and unconscious—about the nature of the world. The worldview of a company’s personnel can be described in three different orientations. State these three management orientations and discuss each one of them with examples. THE 3 MAMNAGMENT ORIENTATIONS ARE : •Ethnocentric Orientation •Polycentric Orientation •Geocentric Orientationarrow_forwardSenior Management of a US business, developer and online gaming marketer, has agreed to expand internationally in Asia. You are a market analyst and must render your advice to the management by addressing the following questions:To evaluate global business opportunities and to suggest where the enterprise can go, choose a suitable analytical instrument to analyse an Asian nation with strong potential.arrow_forwardWhy do some companies become global while others remain local or regional?arrow_forward
- Write an essay in which:You define what an international or global company is. Indicate the advantages and disadvantages of developing business on a global level.arrow_forwardWhen companies expand into global markets, they must be aware of the different cultural environments they are entering. A successful business model in one country may not be successful in another. U.S. companies, such as Walmart, Best Buy, and Home Depot, for example, have struggled in certain overseas markets due to their inability to meet the needs and expectations of the local culture. Read the hypothetical description of an overseas country, and then answer the following question. People in this country tend to go to stores several times a week to get what they need rather than making one big trip less frequently. They prefer fresh food products to frozen ones, and they also like to sample food items before purchasing them. They like their homes and places of business to have character, with ornate decorations and vibrant colors. A U.S. store opens in this country and exhibits the following characteristics. Which of these characteristics will be problematic for the success of the…arrow_forwardIn your opinion, what are some of the most effective strategies for achieving sustainable competitive advantage in a global industry/market segment? Why do you think these strategies are effective? Are there any examples of companies that have successfully achieved sustainable competitive advantage in a global industry/market segment? What can we learn from these companies? How can companies stay up-to-date with the latest trends and developments in a global industry/market segment? What are some strategies for staying ahead of the competition?arrow_forward
- As businesses, both individuals and companies, begin to think and then operate globally, they face environmental challenges that complicate efforts to expand revenue and increase profits. Success requires executives understand the political, legal, cultural, economic conditions and circumstances that influence market structures, business conditions, industry dynamics, and competitive situations. As we see below, executives running internationally minded United States companies consider a host of factors when evaluating new markets to enter. In their view, the barriers to global expansion, both inside and outside the United States, are primarily _______, _______, and _______. A) Political B) Cultural C) Linguistic D) Economic E) Legalarrow_forwardplease use Nestle as the caribbean company and Canada as the international market You are hired as a consultant by Tokyo Inc. to prepare a report based on the undermentioned criteria.You will choose a known Caribbean Company in the agro-processing sector and its product (s) withinformation available on the internet, that does not currently operate outside the Caribbean CARICOMregion. You will conduct a comprehensive study of the international business environment, that is, thegeography, culture, government, history, economics, and politics of a new country, outside of the region,from which you believe the company and its product (s) could operate profitably. Propose a strategy forinternationalization. Looking particularly at entry strategies that could be utilized as discussed in the course.You will need to keep in mind the domestic realities of the company and its product (s) by conducting asituation analysis to start. You are also required to suggest an international strategy after…arrow_forwardYou are a successful entrepreneur operating a local business for the last five years in your chosenindustry. Since your business has grown over the years you have now decided to take your businessoverseas and are considering two options. The first is to enter another Asian country with yourproduct/service and the other is to enter a country in Europe. Justify market entry & exit strategies that can be perused by the organisation and potential risksthat can be envisaged? The answer should be for ONE of the two chosen countries.arrow_forward
- You are a startup business and would like to get into the export market. Your company owns the patent for a beauty product that is in high demand. Your problem is that you are small and do not have a lot of cash. Before you jump into the export market, you must develop a strategic plan. What is your plan and, based on that, what would be the most effective method of entering the export market?arrow_forwardWhat are potential challenges a CEO may face in the future doing business on a global scale?arrow_forward"International businesses still greatly underestimate the strategic constraints and challenges formal and informal institutions represent in the specific countries and markets they want to operate in." Discuss this statement under the following heading, using illustrative examples throughout your answers. Certain analytical frameworks help the business practitioner to assess external environments and internal capakilities. Describe and assess the usefulness of PESTEL, CAGE and SWOT analysis.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
