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Lec 17 18 International Marketing and Strategic Management

international marketing strategy

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Kim V
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6 views19 pages

Lec 17 18 International Marketing and Strategic Management

international marketing strategy

Uploaded by

Kim V
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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International marketing and strategy

Strategic Management –
Defined

Art & science of formulating,


implementing, and evaluating,
cross-functional decisions that
enable an organization to achieve
its objectives.
Strategy Formulation

Vision & Mission

External Opportunities & Threats

Internal Strengths & Weaknesses

Long-Term Objectives

Alternative Strategies

Strategy Selection
Strategy Implementation

Annual Objectives

Policies

Employee Motivation

Resource Allocation
Strategy Evaluation

Internal Review

External Review

Performance Metrics

Corrective Actions
Achieving Sustained
Competitive Advantage

1. Adapting to change in external trends,


internal capabilities and resources

2. Effectively formulating, implementing &


evaluating strategies
Adapting to Change – Key
Strategic Management
Questions
• What kind of business should
we become?
• Are we in the right fields
• Are there new competitors
• What strategies should we
pursue?
• How are our customers
changing?
Key Terms

Vision Statement –
What do we want to become?

Mission Statement –
What is our business?
Key Terms

Opportunities & Threats (External)


Analysis of Trends:
• Economic
• Social
• Cultural
• Demographic/Environmental
• Political, Legal, Governmental
• Technological
• Competitors
Key Terms

Strengths & Weaknesses (Internal)

Typically located in functional areas of the firm


• Management
• Marketing
• Finance/Accounting
• Production/Operations
• Research & Development
• Computer Information Systems
Key Terms

Strategies

Means by which long-term objectives are


achieved
Comprehensive strategic management
model
External
Audit

Generate, Implement Implement Measure &


Vision Long-Term
Evaluate, Strategies: Strategies: Evaluate
& Objectives
Select Mgmt Issues Marketing, Performance
Mission
Strategies Fin/Acct,
R&D

Internal
Audit
Benefits of Strategic
Management

Financial Benefits

• Improvement in sales
• Improvement in profitability
• Productivity improvement
Benefits of Strategic
Management

Non-Financial Benefits

• Improved understanding of competitors strategies


• Enhanced awareness of threats
• Reduced resistance to change
• Enhanced problem-prevention capabilities
Business Ethics & Strategic
Management

Code of business ethics –

Provides basis on which policies can be


devised to guide daily behavior and
decisions in the workplace
Advantages of International
Operations

Absorb excess capacity


Reduce unit costs
Spread risk over wider markets
Low-cost production facilities
Disadvantages of International
Operations

Difficult communications
Underestimate foreign competition
Cultural barriers to effective management
Complications arising from currency
differences
 THANK YOU

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