International Strategic Management

International Strategic Management
Comperhensive and Ongoing management planning process aimed at formulating and implementing strategies that enable a firm to compete effectively internationally

Fundamental Questions

• What product and / or services does the firm intend to sell?
• Where and how will make it those product or services?
• Where and how will it sell them?
• Where and how will it acquire the necessary resources?
• How does it expect to out perform its competitors?

Factors Affecting International Strategic Management

• Language
• Culture
• Politics
• Economy
• Govermental Interference
• Labor
• Labor Relations
• Financing
• Market Research
• Advertising
• Money
• Transportation / Communication
• Control
• Contract

Sources of Competitive Advantage for International Business

• Global efficiencies
• Multinational Flexibility
• Worldwide Learning

Strategic Alternatives

• Home replication strategy
• Multidomestic strategy
• Global strategy
• Transnational strategy

Component of Int'l Strategy

• Distinctive competence
• Scope of Operations
• Resources deployment
• Synergy

Steps in International Strategy Formulation

• Develop a Mission Statement
• Perform a SWOT analysis
• Set Strategic Goals
• Develop Tactical Goals and Plans
• Develop a Control Framework

Levels of International Strategy

• Corporate Strategy
• Business Strategy
• Functional Strategy