Implementation of Global Strategies
Implementation of Global Strategies
6-8 Pages
Key Assignment
Your work on your strategic global marketing plan is complete. You now have a plan that will implement, manage, and support a global strategy, but it is far from organized. You e-mail Deborah to inform her that you are almost ready and that the initial planning is complete. A little while later, the phone rings and you see Deborah’s name on the caller ID.
“Hi, Deborah. What’s up?” you ask.
“I’d like you to present to the advisory board next week,” Deborah says. “They are very curious about your findings and would like to know if globalization is a good opportunity for the company. The board wants to finalize their strategic plan, and this may be a key part of it.”
After you hang up, you begin thinking through the different items that you will need to cover.
As you finalize the marketing plan, complete the following:
- Is globalization a good move for the company?
- What is your rationale behind this decision? Synthesize analysis conducted in previous units, including strategic considerations, cultural considerations, competitive analysis and balanced scorecard.
- What geographic location should be a target for global expansion?
- What background information can you provide to support this decision?
- How will this decision support the overall goal of growth and expansion?
- How would you refute someone with the opposing perspective?
Answer preview
With the growing business expectations accompanied by increased competition, it is vital to adopt globalization as a tool for expansion and growth. On the process of adopting growth strategies, institutions must research both the internal and external environment of the institution. In this case, evaluation of culture, competition, a balanced scorecard, and various strategic considerations should be used in decision making. The growing businesses must also evaluate the niche in the target location and must be in an excellent position to make a significant influence in the new place. With the actively growing world, globalization is the best strategy for a company willing to remain competitive and achieve its goals in the era of free trade markets.
The necessity of globalization for the company
Globalization is vital for an institution as it avails fitting room for an increase in sales. It is the dream of any company to achieve growth as stipulated in its mission, vision, and objectives. Taping potential markets in new region…