What is global strategy ?
Global strategy, as defined in global business terms, is an organization’s strategic guide to pursuing various geographic markets. It consists of the Global Business Environment in which Global corporations, Multinationals and other firms operate. Sometimes the firms involves itself in importing and exporting
To appreciate how a business functions, we need to know something about economic theory, economic environment in which it operate. Most global firms will need an organisational structure, perhaps a matrix structure, to compete in the global environment.
Businesses need a knowledge of how resources and competitive advantage are necessary as well as the knowledge of the competition within a industry. A PESTEL analysis or an industry analysis may prove useful here To enter new markets, sometimes firms need to develop new products that can compete with domestic competitors or perhaps cater to a new segment.
Developing and introducing a new product is often an expensive and time consuming process. There are several strategies including generic strategies that are available to a company that wishes to introduce a new product. The success of placing a new product in the market place will greatly vary according to how this essential step is carried through.
Some key aspects of the subject listed below. Clicking on each theme should lead to resources specific to the theme.
When to Go Global?
A list of Free Textbooks to help you understand the subject better is available too.