STRATch 7-8

96問 • 1年前

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refers to the economic condition that there is an increase in international exchange including trade in goods and services as well as exchange of money information and ideas

globalization

he concluded that there are four broad attributes of nation that individually and a system constitute what is termed _____________ and is 4 years study concluding web this attributes collectively determine the playing field that reach nation establishes for its industries

Michael Porter the diamond of national advantage

porters determinants of national competitive advantage

factor endowments/condition demand conditions related and supporting industries firm strategy structure and rivalry

the mixed up resources a country has four economic activity the factors of production include not only labor capital and natural resources but also factors that can be created

factor endowments/condition

factor conditions basic factors: advanced factors:

natural resources : natural resources mineral resource oil resources water resources human resources and research capabilities : wind and solar energy natural gas resources land resources animal resources

recreate the demands that consumers plays on an industry for goods and services consumers who demand highly specific sophisticated products and services force firms to be more innovative to meet such demand

demand condition

enable frames the more effectively manage inputs for example countries with the strong supplier based benefit for adding efficiency in downstream activities . that is because a competitive supplier based helps a firm obtain inputs using its effective timely methods it contributes to introducing manufacturing cost

related and supporting industries

firms develop ______ and _____ to compete with other firms in the same country that are trying to capture the same customer market. ______is party coloring in missions with strong consumer development conditions is strong supplier bases and high new and potential from related industries - provide a strongman for reference to innovative find new resources of competitive advantage

firm strategies , structured, and rivalry

potential benefits of international expansion includes

increase market size take advantage of arbitrage opportunities extend a products life cycle optimize the location of every value chain activities explore reverse innovation

the last item optimize the location of every activity in value chain-- three strategic advantage

performance and enhancement cost reduction risk reduction

decision to locate a corporate in order to draw a point super technical and professional talent

performance enhancement

emphasis on where to source of raw materials of many multinational companies

cost reductions

firms can cope with such risk by spreading high cost elements of their manufacturing operations across a few carefully chosen around the world such decision can help lower the overall risk profile of a frame with regard to currency economic and political risk manufacturing activities of short

risk reduction

three main types of risk

political and economic risk currency risk management risk

country is vary significantly and their level of political riskm. such risk can lead to such problems as the destruction of property social and rest military termiola demonstration violent conflict and the realism non-payment of goods and services and the appropriation of a firm's assets in a country and employment of laws associated with the protection of property rights addresses a key trust to global trade counterfeiting

political and economic risk

____ fluctuation can post substantial risk. a company with operation in several countries must constantly monitored exchange rate between its own currency and that of the host company

currency risk

may be considered the challenges and risk that managers face when they must response to the inevitable difference that they encounter in foreign markets this take a variety of forms : culture language income levels customer preference distribution system and so on

management risk

two of the emerging trends and international business

outsourcing and offshoring

occurs when a firm decides to utilize other firms to perform value creating activity that were previously perform in house

outsourcing

takes place when a frame desire to shift an activity that they were previously performing in a domestic location to a foreign location

offshoring

which is indicative of the extent to which outsourcing and offshoring have become part of global commerce and new trend that overcomes some of the potential challenges associated with offshoring :outsourcing tech services to low cost relationships

global delivery approach

diverging global supply chains and outsourcing non-core can help reduce production and labor cost companies may source raw materials components or services from countries with comparative advantages in terms of cost or expertise

global sourcing and outsourcing

consumer preference cultural norms and buying behavior vary significantly a class countries and regions firms need to adopt their product services and marketing strategies that resonate with local taste values and customs to gain acceptance and trust in diverse markets

cultural differences

is usually the phrase approach most business take with global expansion sporting are importing goods and services while maintaining ahead office or offices in their home country is a process of strategizing business expansion in the globe market. it involves the business plan and detail on how the business will spread overseas

international strategy

types of international strategies

multidomestic strategy global strategy transnational strategy

afirm using a ______ does not focus on cost of efficiency but emphasizes responsiveness to local requirements within each of its markets

multidomestic strategy

a firm using _____ sacrifice responsiveness to local requirements within each of its markets in favor of emphasizing lower cost and better efficiency this strategy is the complete opposite of multi domestic strategy

global strategy

a firm using ____ middle ground between a multi domestic strategy and of global strategies such a firm tries to balance necessary for lower cost and efficiency with the need to adjust the local preference within various countries

transnational strategy

a firm has many options available to it when it decide to expand into international markets by variety of modes of foreign country that include

exporting licensing franchising strategy alliance and joint ventures wholly owned subsidiaries

consists of reducing goods and one country and selling them in another this modes enables a frame to invest the least amount of resources in terms of product its organization and its overall corporate strategy

exporting

exporting has both advantage and disadvantage

its advantage or that it is a low cost parties way to enter foreign markets and it may provide frame with local resolution tours who can help them benefit from their valuable expertise and knowledge of local markets

there are also some disadvantages associated with exporting

sporting frame has little control over how their products are marketed or sold in the foreign market

are both business agreements in which certain product aspect are shared in exchange for a fee

licensing and franchising

agreement pertains to a business enterprise and operations

franchising

agreement only applies to rate of trademarks

licensing

franchising typically work best for _______ while licensing are more conductive to ______

service-based business product-based business

t-f are both licensing and franchising are both forms of contractual arrangements franchise contracts typically broader range of factor in an operation and have a longer period during which the argument is in effect franchising has advantage of limiting the priest exposure that a firm has in obvious markets while expanding the revenue based of the parent company

refers ti the business arrangement between two or more parties in which the parties come together to pool their sources with the main motive of completing the specific task.

joint ventures

refers the business arrangement between the two or more parties to meet the particular shop by remaining meant that

strategic alliance

trf joint ventures and strategic alliance have become increasingly popular way for firms to enter and succeed in marine markets in recent years these two forms of partnership differ in that joint ventures entail the creation of the third party legal entity whereas strategy alliance do not . in an addition strategy focus on initiative that are smaller in scope than joint ventures

a situation in which a company national company owns 100% of the stock in the venture

wholly owned subsidiaries

there are two means by which a firm can establish a wholly owned subsidiaries

accusation of an existing company are developing a total new cooperation termed a "greenfield venture"

trf wholly owned subsidiary are most appropriate when a firm could ready has the appropriate knowledge and capabilities that can be readily leverage to multiple locations

trf while assuring the most controlled fully own subterior supposed to arte typical the most expensive and risky of the various mode of entry. unlike strategic alliance and joint ventures the risk is bome by the corporation. the risk associate with doing business and account new countries such as political cultural and legal neurons may be mitigated by hiring local talent

process where the entrepreneurs interpret explore and evaluate their plans ideas and policies in systematic manner in order to achieve their aim goals

entrepreneurial strategy

new value can be created in many different context

start ventures major corporation family owned business non-profit organizations establisher institution

refers to the creation of new value by an existing organization on new ventures that involves the assumption of risk

entrepreneurial venture

3 factors

entrepreneurial opportunities entrepreneurial resources entrepreneurial Leadership

opportunities come from the past work experience having hobbies chance encounters

entrepreneurial opportunities

process involves two phrases of entrepreneurial opportunities

opportunity discovery opportunity evaluation

may occur unintentionally because the discovery of opportunity is open spontaneous and unexpected are the result of the deliberate search for new venture opportunities or creative solution to problems

opportunity discovery

involves evaluating an opportunity to determine where it is the strong enough to be a developing it on your venture involves feasibility analysis to assess cost and benefits

opportunity evaluation

for an opportunity to be viable it must have four quality

attractive achievable durable value creating

there must be market demand for the product or service

attractive

must be practical and physically possible

durable

must be attractive long enough for the development and deployment to be successful

durable

benefits must surpass the cause of development by a profitable margin

value creating

essential elements of successful entrepreneurial launch most important resources is usually ____

resources money

resource requirements of entrepreneurial firms

financial resources human capital social capital government resources

start help firms need financing levels of available financing is often a strong determinant of how the business is launched and its success

financial resources

bankers , venture capitalist and an investors that invested in startup firms and small businesses agree the most important assets and entrepreneurial print can have as the strong and skills

human capital

new countries founded by entrepreneurs with instensive social control without social

social capital

important resources for many young and small businesses it provides support for entrepreneurs into key areas financing and the government contracting

government resources

it involves courage believes in one's conviction and the energy to work hard under difficult circumstances

entrepreneurial Leadership

three entrepreneurial leadership characteristics

vision dedication and drive commitment excellence

examples of 10 management lesson

it's all about perseverance understand the value of membership client communication is the key capitalization is crucial communicating and wavering honesty or integrity stay on top of the curve take ownership in your client success never stop marketing

best strategy for the enterprise will be determined to some extant by

available opportunity, sufficient resources and skill and dedicated entrepreneurial team others condition in the business

describe several approaches that firms may attack to get an initial foothold in industry

entry strategy or entry wedge

firm with radical new product or highly innovative service may engage in creating new ways to solve all problems are meeting customers needs

pioneering new entry

potential pit falls of a pioneering new entry

customer may not accept the new product or services competitors may quickly to imitate it sustaining an advantage may require heavy expenses and advertising or protecting intellectual property

use when products are services that have been successful in one market niche

imitative new entry

major pitfall of imitative new entry

it may be difficult to ever build a sustainable competitive advantage

is a type of imitation strategy that often works very well because outcomes value reliable products that they can trust

franchising

new entrance are somewhere between pure imitation or pure pioneering they offer a product or services that is somewhat new and sufficiently different to create new value for customer and capture a market share

adaptive new entry

pitfalls of adaptive new entry

the value proposition may not be perceived as unique close competitors that copy the new frames adaptation as a way to hold on to his customers once the attractive entrant achieved initial success the challenge is to keep the idea fresh

i represented to illustrate how companies that venture into market spaces where there is little or no competition

blue ocean strategy

will perform those that limit growth to incremental improvements in competitive crowded industries

red ocean

companies that identify and pursue blue ocean strategy

create and contested maker space make the competition irrelevant create and capture new demand break the value /cost trade off pursue differentiation and low cost simultaneously

generic strategy

overall low cost differentiate focus

entrepreneurial firms achieve success by doing more with less by holding down cost and making more efficient use of resources than larger competitors new venture can open over lower prices and still be profitable

Overall low cost

attempting to do something different either by using technology

differentiation

or niche strategy provide an effective entry strategy for many experiences niche represent the small segment within market

focus

best way for new venture and businesses combining the best features of low cost differentiation and focus strategy

combination strategies

why do companies launch the new competitive actions

improve market position capitalize and growing demand expand production capacity provide an innovative new solution obtain first mover advantage

prior to actually observing a competitive actions effort is needed to become aware of potential competitive actions they might be planning

threat analysis

two factors i used to assess whether or not companies are close competitors

market commonality resource similarity

whether or not competitors are buying are the same customers and how many markets they share in common

market commonality

the degree to which survivals draw on the same types of resource to compete

resources similarity

types of competitive actions

strategic actions tactical actions

represent major commitments of distinctive and specific resources to strategic objectives

strategic actions

include requirements are extension of the strategies usually involving minor resource commitments

tactical actions

is a company has high concentration of its business in a particular industries market for its sales

market dependency

types of internal resources and environments are competitors has must be evaluated when assessing its capability to respond

competitors resources

whether a company should response to competitive challenge depends on who launched the attack against it have the ability and motivation to mom overwhelming counter attacks

actors reputation

retaining from reacting of all as well as holding back from initiating an attack competition among the big auto makers is example

forbearance

was coined to suggest that companies of and benefit most of a combination of competing and cooperating

co-opetition

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Jennie Rose Carpo · 24問 · 2年前

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