I need help developing a global business strategy for a fictional US-based firm

Question

I need help developing a global business strategy for a fictional US-based firm desiring to expand intoAustria. I have to include and develop all of the following objectives in the paper:

1. Analyze the business structure necessary in each country to encourage success and benefit the firm as a whole.

2. Discuss the key roles ethics and cultural diversity must and will play in this expansion.

3. Discuss entry strategies in light of the political, legal, cultural and economic make-up of each country.

4. Describe the role that Information Technology and the Internet will play within this emerging global firm.

5. Explain the advantages or disadvantages of manufacturing and material location in each country.

6. Describe your approach to marketing and advertising in each country.

7. Describe your approach to human resource management.

Explanation / Answer

1.

Business policies and plans for global trade related processes comprises the necessity for overseas coordination and assimilation which needs comprehensive universal approach that consolidates fundamental procedures with slight adjustments to adjust with the international market demand and needs.

It’s important for business to adopt policies and strategies that can help to implement product improvements and modernization techniques that can in fact support product to grow over a period of time in their product life cycle stages which can gradually then be used as a base by the organizations to enter the global markets.

2.

It’s essential for business to build a precisely enunciated set of fundamental basic ethics as the foundation for international trade strategies, plans and decision-making policies. Organizations must bring into line its decisions making process with its core basic beliefs and moral values which can basically be correlated with trustworthiness, self-respect, accountability and while functioning with other nations it is significant to be familiar with dissimilarities in values, beliefs and principles.

3.

There are numerous methods by which an organization can enter an overseas marketplace however it cannot be stated that one single market entry business policy and approach can be suitable for all global markets. For instance direct exporting method can be most appropriate business approach in one market while in another you may need to set up a joint venture and in another you may need to coordinate with other business entities in the business process related activities to enter the global market.

4.

Modernization and improvement is the most innovative way to attain success in this digital era which means adopting policies and procedures in the business processes that can help to attain a constructive transformation in terms of worth, excellence and output which can be achieved by using the developed and ascertained technical know-how skills available in the global market.

For instance precise and correct business planning, effective marketing, worldwide trades, methodical and organized business administration, real time one-to-one care, prompt consumer support and long term industry development and progress can be attained and accomplished at the most favorable level by adopting and implementing the latest available technological skills and knowledge globally.

5.

International business policy and approach can help an organization to influence and control economies of scale. For instance if a business trades the same product globally it can procure its raw materials in large quantity thus practically helping to save the business with few thousands of dollars per year which can be in terms of savings in employment, packaging, business promotion and advertising, material expenses etc.

6.

For an organization the most crucial element in their global business strategy and approach should be adopt to a business plan and tactic that can successfully correlate business plans and policies with global markets by developing the most suitable and appropriate trade strategies by adopting the most suitable and appropriate methods to effectively and efficiently promote products in the global market.

It's very important and significant for business to form a well-organized, results-driven advertising and promotion policy that can be best suited for products to be sold globally where you can implement universally applicable regularization to promote products in order to achieve a greater consumer base and improve trade and revenues.

7.

As the demographic structure and arrangement of the labor force in global market alters the method to be adopted to motivate them and their anticipations also varies thus it’s very crucial for HR to recognize and appreciate what is most esteemed and cherished by these employees.

It’s important for HR to adapt a policy and approach in their motivations, reimbursements and preservation strategies for employees that are not just determined by monetary compensation. Thus organizations need to ensure that employees are dedicated, dynamic and there is low labor turnover which is very crucial as it can considerably affect the labor costs and overall revenues for the business.

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