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INTERNATIONAL BUSINESS STRATEGY |
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International business literature has become less interested in the reasons why internationalisation occurred in the first place and more concerned with the strategic analysis of the established multinational corporation operating in a number of countries (Robin John, 1997:213). In the literature of the 1980s and 1990s, the fundamental international strategic choice was the extent to which the multinational corporation’s posture was one of global integration and standardization, or one of differentiation and responsiveness to national and local difference (Kobrin, 1991) and others have pointed out that the origins of this conflict in the decision making of the international firm go back at least as far as John Fayerweather in 1969 who contrasted pressures for unification with the fragmentation influences of different national environments (Fayerweather, 1969) However, other writers, notably Martinez and Jarillo (1989) and Bartlett and Ghoshal (1989), have argued that this fundamental tension may be transcended by the adoption of more complex global or ‘transnational’ strategies, that are multidimensional and seek to achieve both global efficiency and local responsiveness. ... They outline factors promoting or retarding the globalization of international business are then discussed, as well as some of the empirical evidence on global integration. In this essay different international strategies, which have important implications for the location of economic activities will be explored. It will also argue that there is a need to co-ordinate international subsidiaries and the control multinational company centralization. First there will be an explanation of how international strategy is formulated, giving emphasising external and internal environmental assessment, followed by a description of how strategy is implemented, with particular attention to location, ownership decisions and functional area implementation. ... John provides a comprehensive definition of strategy formulation as the process of evaluating the enterprise’s external environment and its internal strengths (John, 1997:213). ... Information gathering is a critical phase of international strategic planning (Rugman, 2000:217). ... An internal analysis of the international firm helps to identify the firm’s specific strengths and weakness and its sources of competitive advantage (Robin John, 1997:191). ... He asserts that an analysis of the value chain can help a company to determine the type of strategy that will be most effective. ... Each geographic area or business until will then be assigned a profitability goal which, if attained, will result in the multinational enterprise reaching its overall desired profitability. (Rugman, 2000:226) Now strategy implementation will be outlined. Strategy implementation is the process of attaining goals by using the organizational structure to execute the formulated strategy properly (Rugman, 2000:226). ... Ownership of international operations has become an important issue in recent years(Rugman, 2000:228). He proposes that in truth, the real issue of ownership is whether or not the company is contributing to the overall economic good of the country where it is doing business. He outlines countries that want to remain economically strong must be able to attract international investors who will provide jobs that allow their workers to increase their skills and build products that are demanded on the world market. |
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Title: INTERNATIONAL BUSINESS STRATEGY
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