Global Strategic Planning

A firm's strategic choice of entry strategy depends on a careful evaluation of the advantages and disadvantages of each option, the firm's capabilities and resources, critical environmental factors, and the contribution each choice would make to the company's overall mission and objectives.

Cultural differences, such as time horizon, uncertainty avoidance, and power distance, influence the choice of entry strategy between countries, with some cultures preferring non-equity modes of entry and others preferring equity modes.

Evaluating environmental factors is crucial in selecting an entry strategy as it helps firms understand the opportunities and challenges in the new market and adjust their strategy accordingly.

<p>The firm's overall mission and objectives influence the choice of entry strategy by guiding the selection of an approach that aligns with the company's goals and values.</p> Signup and view all the answers

<p>Considering multiple entry strategies allows firms to evaluate the advantages and disadvantages of each option, enabling them to select the most effective approach for their specific situation.</p> Signup and view all the answers

<p>Customer behavior and market structures differ across regions, but are similar within a region.</p> Signup and view all the answers

<p>Different infrastructure, socio-economic, regulatory, environmental, and geographic challenges.</p> Signup and view all the answers

<p>One size does not fit all, and different countries have different risk/return profiles.</p> Signup and view all the answers

<p>Supply-chain management is very important to success.</p> Signup and view all the answers

<p>Potential for innovation, not just new customers.</p> Signup and view all the answers

<p>The operating model should be tailored to the specific needs of the emerging market.</p> Signup and view all the answers

<p>Establishing mission and objectives is crucial in global strategic planning as it provides direction and focus to the organization, enabling it to allocate resources effectively and make informed decisions.</p> Signup and view all the answers

<p>Environmental scanning involves gathering and analyzing data on external factors that may impact the organization, such as economic, political, and social trends, to inform strategic decision-making.</p> Signup and view all the answers

<p>Internal analysis involves assessing an organization's internal strengths, weaknesses, opportunities, and threats (SWOT analysis) to identify its capabilities and competitive advantages.</p> Signup and view all the answers

<p>Factors to consider include the organization's mission and objectives, internal capabilities, external environmental factors, and available resources.</p> Signup and view all the answers

<p>Institutional factors, such as government regulations, cultural norms, and industry standards, can impact international competition by influencing the cost of doing business, access to markets, and the competitive landscape.</p> Signup and view all the answers

<p>E-business strategic decision-making involves using technology to support international business operations, facilitating communication, collaboration, and transactional processes across borders.</p> Signup and view all the answers