IBM- Vasuki.doc - All institution has to make global competition as strategic goal No institution whether business or university or a hospital can hope

IBM- Vasuki.doc - All institution has to make global...

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All institution has to make global competition as strategic goal. No institution whether business or university or a hospital can hope to survive later-on to succeed unless it measured up to the standard send by the leader. Set by the leader in its fate any place in the world. Today world is moving towards borderless business. Thanks to the WTO which has mandated diminishing barriers for cross border business. Today’s challenge is how individuals and business will face this unstoppable globalization and to learn how to leave with it, manage it and take the benefit. Firms need global orientation even to survive in the domestic market. The finest example of global co is Aravind Mills Stores a raw material where there is low cost without sacrificing quality. Manufacture wherever in the world where cost is less. Sell the goods globally where the prices are high. Raise finance globally. Forged (collaboration) to manage all these hire managers any where from the world. To reach this level by Aravind mills the level of business master graduation for the company of evolution According to Keegal “Global marketing is the process of focusing the resources i.e., people, money and physical assets and objectives on organization on global marketing opportunities and threats. GMP- Good Manufacturing Practice Special problems in International business Special difference between domestic and international business Differences in the business environment Political Cultural Legal Currency Difference in language Differences in the marketing infrastructure Trade and investment decision NTB Non Tariff Barriers High cost of distance Differences in practices Why we should go international business: 1. Profit 2. Growth opportunity 3. Going beyond domestic market
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4. Competitive (quality, quantity, delivery) 5. Government policies and regulations 6. Many government offers many incentives to foreign company and investment also 7. Agricultural product export development authority 8. Monopoly 9. Strategic vision 10. International Orientation EPRG Endocentric, Polycentric Regiocentric Geocentric (Global orientation) Epnocentrium is a predominantly a home country operation they view overseas operations as secretary to domestic operation. The top management view domestic and personal to superior to foreign and always overseas market development done in home office. Overseas is done by export department and its home market. According to keegal 50 years ago most business in US put operate quit successfully with epnocentric orientation, today US business epnocentirum has become a threat that means Policentric Orientation: it is multinational orientation. It recognize as importance of inherent differences in overseas market. An environment of each market is separately consider while formulating the marketing strategy. Polycentrium just opposite of Epnocentrium The important merit of poli is adoption of market strategy to local condition.
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