Week 8 ISM Spring2011 - International Strategic Management...

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1 International Strategic Management Week 6 DR PAULA TOMSETT This week Week 8 PechaKucha presentations: Dominique, Minh, Kate, Wilfenc Aida, Giggs, Tom, Chantoll Mid-term Exam Revision The purpose of a revision presentation by the lecturer is to remind students of key concepts it is not to give you the answers or the questions that will be on an exam. 2 PechaKucha presentations Dominique Minh Kate Wilfenc 3 Strategy as Theory How to compete successfully Firms have both intended and emergent strategies One firm’s strategies may not work in all situations Past success does not guarantee future success It is often difficult to change strategy 4 4 Strategy Plan VS Strategy Action Strategy Plan is “explicit, rigorous formal planning” versus Strategy Action is “a set of flexible, goal-oriented actions” 5 5 The Essence of Strategy 6 SWOT: Point A is firm’s strengths & weaknesses; Point B = opportunities & threats; “know yourself and know your competitors”. 6
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2 1. Why do firms differ? Cultural differences between Western firms and Japanese companies Networks of relationships have powerful effect - keiretsu, guanxi,chaebol, blat 2. What determines the scope of the firm? Associated with growth, diversification, consolidation, downsizing 7 7 8 Fundamental Question 3 How do firms behave? 8 8 Fundamental Question 4 What determines the international success or failure of firms? Industry-based view - degree of competitiveness in the industry Resource-based view - firm specific differences in capabilities Institution-based view - institutional forces, such as economic reforms and government policy 9 9 What Is Global Strategy? Traditional view – firms provide standardized products and/or services on a worldwide basis; any strategy outside one’s home country Definition of global strategy: Strategies of firms around the globe Both international and non-international (domestic) Both developed and emerging economies 10 10 What is Globalization? A pendulum view – explains the ups and downs of globalization since WW11. China and Soviet Union tried to be come self-sufficient. Sth American countries and India tried to
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Week 8 ISM Spring2011 - International Strategic Management...

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