Free Essay On Strategic Management In Dynamic Environments

Type of paper: Essay

Topic: Business, Strategy, World, Finance, Company, Marketing, Globalization, Competition

Pages: 2

Words: 550

Published: 2021/02/05

Undertaking a successful business venture requires a broad scope of a combination of skills. A business needs tactics and strategies that will ensure its existence and continued success. Among these, marketing strategies form the backbone upon which the success of the business relies. A marketing strategy forms the foundation for a marketing plan. A perfect strategy for marketing is one which will guide the vision, mission and the objectives of the business both globally and locally. We introduce the concept of resources. A resource is anything that has economic value. For a business to operate, it requires various resources that will help run its operations.
We focus on the global strategies of a company. Global strategy refers to the plans and ways that a company may adopt to get into the world’s large markets. When a company is planning on its globalization objectives, it has to put into consideration resources and their availability. (Clark, 2004) Resources could be in terms of finances. A business will require funds to finance its global achievement quest. Resources in terms of services are necessary so as to provide all the threshold bits such as legal requirements, insurance and such, which a business needs.
Resources could also be in terms of manpower. Employees are required to see to it that the various plans reach their full implementation. The workforce is responsible for inter-linking all the other resources involved to bring the success of the business. The company will also require operational premises in its quest. Such should be fitted with appropriate facilities such as modern computers with integrated networking systems that cover all global tracks. (Laanti, 2007). When all these resources are combined, the generate a steering force that the firm will use for its global conquest.
.Taking a case example of China, the second largest economy in the world, we can look at some of these resources. Such a country has resources of concern that should be put into consideration when eyeing globalization. Financial resources come into the first category. These resources include a capital requirement that will run the operations and activities of the organization. Without adequate funds, the strategies laid down cannot be achieved. (Clark, 2004)
The other resource is time. Time is the key determining factor for any strategies that a business has designed. Time dictates when an activity should start and when it should end. In terms of strategy gaining, time will provide the basis when the plans should be developed, and their implementation actualised. The duration for achieving the plan is vital and has to be upheld. There is also a human resource, which includes the labor providers. These include the workers such as the CEOs, supervisors, technicians and so on. (Laanti, 2007) The workforce should be well skilled to tackle the laid plan of the business efficiently. A large pool of qualified personnel will lead to a faster globalization for the organization
In addition, there are also physical and intangible resources. The physical resources will include such as premises where coordination of activities occurs. These premises have other structures such as computer systems and other sophisticated machines and devices. These help in making work easier and achieving of the strategy faster. The intangible category has the services such as insurance and legal frameworks which the enterprise requires in it operations. (Daniels, 2000)
When spreading the global marketing strategies into other countries, the availability of the above resources in the target country will have a significant effect on the decision-making. Decisions are made on the basis of availability of these resources. In a country like China, resources may be freely available. It means that moving to operate a business in such locality will be very appropriate. All this is because there are all catalysts required to ensure the easier penetration into the international or global markets. If it is finances, skilled manpower, dynamic services such as insurance and all others, all are available. (Clark, 2004) It acts in the favor of making a decision of venturing into such regions. They are attractive business-wise.
The impact of this availability on the set competitive strategy globally can is explained in several ways. First, with adequate finances, the competition can be easily handled. The reason is that any capital requirement is readily accounted. The competitors who have a lower hand on finances will not be a threat. Well skilled and experienced personnel will help the business handle its operations in a first-class manner, professionally. (Daniels, 2000) It will ensure pro-efficient performance that the competitors will have a hard deal to beat.
In conclusion, every target that has been set must be accompanied by a set of strategies. These serve as guidelines to the original plan, and when equipped with the necessary accessories such as adequate financing, success is achieved.
Clark, G. Palaskas, T, Tracey, P., & Tsampra, (2004). Globalization and Competitive Strategy in Europe's Vulnerable Regions: Firm, Industry, and Country Impacts in Labour-intensive Industries. Regional Studies. Doi:10.1080/0034340042000292656
Daniels, J. D., Radebaugh, T., Erwee, R., Hough, J., & Neuland, E. W. (2000). Global business: Environments and Strategies: Managing for global competitive advantage. Oxford: Oxford University Press.
Laanti, R., Gabrielsson, M., & Gabrielsson, P. (2007). The globalization strategies in business-to-business born global firms in the wireless technology industry. Industrial Marketing Management. doi:10.1016/j.indmarman.2006.10.03

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