Strategic Management In Dynamic Environments Essays Examples

Type of paper: Essay

Topic: Strategy, World, Furniture, Company, Business, Market, Dubai, Products

Pages: 2

Words: 550

Published: 2021/01/30

Global strategy refers to an approach that is formulated in consideration with the globalization aspect of an organization. Thus, a global strategy takes into account the global markets of a company’s products as well as, the best locations of the company which would be very competitive in accruing more global consumers for the company’s product (David, 2005). As such, a global strategy also provides the company with information on the optimal presence for efficient value chain management of the company’s operations. Lastly, the global strategy of an organization also inculcates the best global competitive advantage that would benefit the company in different parts of the world. Amongst the best practices that are incorporated in a global strategy is the adoption of advanced technology so as to ensure cost effectiveness of the company’s strategies.
Technology also enhances the organization in achieving the required levels of local responsiveness in various countries of operation. There exists a range of diverse global strategies which are all concerned at improving the levels of globalization of a particular organization. Foremost, a multi-domestic global strategy emphasizes on modification of the company’s products so as to fit the local demand in the country of operation. Hence, multi-domestic strategies are crafted with the objective of wooing the local market in any given location of operation in the world. Secondly, a transnational strategy is one that puts into consideration a balance within a variety of locations around the globe. Hence, a company is able to market a single product across various global markets but this is achieved by incorporating uniform standards which would suit diverse global markets. Lastly, there exists a franchising strategy which works by the parent company inculcating its global product in the local companies so as to grasp the foreign markets by using its trademark.
Hence, in this type of strategy, a company acquires other firms but it incorporates its trademark so as to penetrate into the particular local markets. In determining whether a global strategy would work in a particular country it is imperative to conduct an in depth research of the country’s suitability to the product on sale (Jeyarathnam, 2008). Countries which would be better suited for efficient global strategy include; Brazil, Nigeria and Dubai. These countries have been found to be competitive in furniture business mostly due to their strategic locations. To begin with, Brazil offers a very sufficient location in regards to raw materials for furniture due to its proximity to exotic woods which would be procured from the vast Amazon forest. Another competitive advantage for Brazil is due to the diverse markets for furniture. Secondly, Nigeria forms a strategic location in the continent of Africa due to its good economy, as well as, availability of wood from the large forests in the country.
The main bottleneck for Nigeria would be lack of ready market for furniture. However, this would be alleviated by incorporating an exporting strategy in the business. Lastly, Dubai also forms a good location for furniture global strategy due to the readily available market and high demand for all forms of furniture (Spulber, 2007). However, the drawback for Dubai as furniture destination would be the lack of the necessary raw materials to manufacture the required furniture. It would therefore be advisable to import raw materials for mass production. The best choice amongst the three countries would be Dubai. Furniture is a luxury product which would be best sold in a high economy country such as Dubai. It is possible that somebody would argue against Dubai given the fact that it does not provide the relevant raw materials for production of furniture which would pose as an extra cost of doing business. However, to prove them wrong it is possible for the furniture made in Dubai to break even and also offer higher profit margins due to the lucrative position of the furniture industry in the country. Thus, it is possible to sell furniture at a higher price in Dubai than the other countries hence, ensuring the viability of the global strategy in this Arab country.

References

David, F. R. (2005). Strategic management: Concepts and cases. Upper Saddle River, N.J: Pearson Prentice Hall.
Jeyarathnam, M. (2008). Strategic management. Mumbai: Himalaya Pub. House.
Spulber, D. F. (2007). Global competitive strategy. Cambridge: Cambridge University Press.

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WePapers. (2021, January, 30) Strategic Management In Dynamic Environments Essays Examples. Retrieved February 23, 2024, from https://www.wepapers.com/samples/strategic-management-in-dynamic-environments-essays-examples/
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Strategic Management In Dynamic Environments Essays Examples. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/strategic-management-in-dynamic-environments-essays-examples/. Published Jan 30, 2021. Accessed February 23, 2024.
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