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There Are Different Strategies In The Global Marketplace. Identify Them And Discuss At Least Two In Depth. Analyse Examples Of Companies Which Have Successfully Applied Them.

2021 words - 8 pages

Introduction: This assignment attempts to present different strategies present on the global market and used by varoius companies.Presentation: In order to understand all what is a content of this assignment it is vital to answer one question. What really is a global economy or maybe much modern expression globalisation?According to different interpretations globalisation became a buzzword recently. However setting strategy for a worldwide business requires making choices along various strategic dimensions. Current developments of international business environment are generally referred to as results of globalization. Whether to globalize and how to do it is the one of the most important issues for managers around the world. The popular saying "think globally act locally" is not as easy as some managers think. There are many factors which push the companies towards globalization by expanding their activities in foreign markets. According to Yip there are three steps essential in developing global strategy:oDeveloping the core strategy - the basis of sustainable competitive advantage. In most cases it is developed firstly in the country of company originoInternationalizing the core strategy through international expansion of activities and through adaptationoGlobalizing the international strategy through integrating the strategy worldwideAs the company goes global there can be different approaches towards building it's global strategy.Some of them expose their economic values such as profits or market share. Within this approach we can differentiate three main strategies:1.The strategy of cost leadership - the global companies aim to reduce costs to the lowest level possible and to achieve the scale effect when entering new markets. Their main competitive method is price and operational effectiveness. Good example of such a strategy is Ikea - producer and distributor of trendy cheap furniture.2.The strategy of differentiation - in this instance the organisations constantly try to create new products and introduce them to the market. They focus on research and development and try to built the marketing image of the qualities differentiating their products from those of competitors'.3.The strategy of concentration (niche) - the firms try to reach the needs of narrow group of customers with specific needs. The company must decide on the customer segment and specialise in satisfying this group's needs in a very professional way. When we look at Swatch we can see that they focus on young people who want good Swiss watch with very reasonable price and very original design.The enterprises that cannot decide firmly on any on this strategies and walk the path between them - are being called by M. Porter - the companies that got stuck.In the literature we can also find some other interpretations of startegies.- Low price strategy. Organisations, which use that strategy, concentrate on costs reductions. It means continuous investments in new technologies,...

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