Chapter08_HodgettsRev

Chapter08_HodgettsRev - 1 PowerPoint slides by R. Dennis...

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1 PowerPoint slides by R. Dennis Middlemist, Professor of Management, Colorado State University
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Chapter 8 Strategy Formulation and Implementation 1. IDENTIFY the basic steps in strategic planning, including environmental scanning, internal resource analysis of the MNC’s strengths and weaknesses, and goal formulation. 2. DESCRIBE how an MNC implements the strategic plan, such as how it chooses a site for overseas operations. 3. REVIEW the three major functions of marketing, production, and finance that are used in implementing a strategic plan. The specific objectives of this chapter are:
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Chapter 8 Strategy Formulation and Implementation 1. DESCRIBE how an MNC implements the strategic plan, such as how it chooses a site for overseas operations. 2. REVIEW the three major functions of marketing, production, and finance that are used in implementing a strategic plan. 3. EXPLAIN specialized strategies appropriate for emerging markets and international new ventures. The specific objectives of this chapter are:
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4 Strategic Management Strategic management Process of determining an organization’s basic mission and long-term objectives, and then implementing a plan of action for pursuing this mission and attaining these objectives Growing need for strategic management is related to Increasingly diversified operations in a continuously changing international environment.
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5 Approaches to Strategic Planning Economic Imperative Quality Imperative Political Imperative Administrativ e Coordination
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6 Approaches to Strategic Planning Economic imperative focused MNCs employ a worldwide strategy based on cost leadership, differentiation, and segmentation They often sell products for which a large portion of value is added in the upstream activities of the industry’s value chain Research and development Manufacturing Distribution Strategy also used when the product is regarded as a generic good and therefore does not have to be sold based on name brand or support service Economic Imperative
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Approaches to Strategic Planning MNCs using the political imperative approach to strategic planning are country- responsive; their approach is designed to protect local market niches Success of the product or service depends heavily on Marketing Sales Service These MNCs often use a country-centered or multidomestic strategy. Political
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Chapter08_HodgettsRev - 1 PowerPoint slides by R. Dennis...

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