Global Business Strategy Essay Example | Topics and Well Written Essays - 2000 words

Global Business Strategy - quiz ExampleGlobalization of firms of all sizes and from a variety of industries is a watch word which must be reck mavind with in todays competitive world markets. To be successful a company should induct a, a consumer oriented approach and should understand customer needs worldwide, along with a comprehensive ball-shaped line of descent system As the world becomes smaller and smaller, it is worthy more and more evident that business firms will increasingly face tougheneder competition. The purpose of utilizing different types of business strategies on a global crustal plate is to increase the firms ability to produce a higher quality product at a lower cost on a world scale. A global business system usually comprises of a global product and a brand name, presence throughout the world market. The fruit activities of the business also will be located worldwide so as to gain maximum advantages, co ordination of strategies and activities.The glob al business strategy must be based on normalisation of product, branding and advertising. Globalization and business From the perspective of business, interest in globalization centers on two study facts globalization of markets and globalization of supply chain. The globalization of markets suggested that technological change, social, political and economicalal development have, in recent decades driven the world towards a global village or converging commonality a homogenize unified global market in terms of consumer taste and product preferences. While there is strong evidence that many markets are become increasingly global in certain aspects, an approach to strategy that concentrates almost exclusively on standardization and costs represent an oversimplification of the situation. The global environment is becoming increasingly complex and requires more sophisticated approach to strategy. As per (Ali, 2000, pg.8) Global corporations should treat globalization as a view an d outlook that broadens and energizes human mind and perspectives As the market become global, consumers are becoming more sophisticated, demanding products that are differentiated rather than standardized. A further complexity is that globalization is not check to simply to consumer markets but also relates to the global chain of mountains of all of organizations business operations and its ability to struggle on a global scale. Global business strategy is an approach to strategy that embraces the worldwide scope of organizations activities, a view that the whole world is a potential market. Globalization has given business the hazard to configure its activities so as to take account of vocational and other advantages arising from difference in resources, skills and economic conditions in different parts of the world. The Concept of Strategy with Relate to Business Strategy concerns organizational information about the business and its environment and the development of knowle dge that produces core competences which position the organization favorably with watch to the variable in the environment. Strategic management is comparatively young discipline and, in consequences, there is huge debate over which approach manager should adopt in devising their strategies. Strategic management is the current process companies use to form a vision, analyze their external environment and their internal organization, and select one or more strategies to use the