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Lecture%204%20Multinational%20Strategy

Lecture%204%20Multinational%20Strategy - Strategic...

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Strategic Management Decide on appropriate steps to achieve long- term objectives Purpose is to create and sustain a competitive advantage Trends: Media, Info Technology, Growing Interdependence of countries 11/10/11 MGT 4190 1
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Reasons to Compete Internationally Reactive Globalization of competition Trade barriers Regulations and restrictions Customer demands 11/10/11 MGT 4190 2
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Reasons to Compete Internationally Proactive Economies of Scale Growth opportunities Resource access and cost savings Incentives 11/10/11 MGT 4190 3
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Porter’s Five Force Intl Model Competitors Competitors Competitors Competitors Competitors Buyers/Suppliers Buyers/Suppliers Suppliers Entrants Buyers Substitutes Substitutes/ Entrants Substitutes/ Entrants Buyers Substitutes Suppliers Entrants Substitutes Buyers Suppliers Entrants Source:  Managing Information  Strategically, 1993 Seeking competitive advantage 11/10/11 4 MGT 4190
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Strategic Formulation Process Analyze Current Performance and Define mission/objectives Identify Governance Assess external opportunities and threats Assess internal strengths and weaknesses Consider alternative strategies Choose Strategy Implement Strategy Control and Evaluate 11/10/11 MGT 4190 5
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Strategic Formulation Process First phase is the planning/analysis phase Second phase is the execution phase Second phase should cycle back into the first phase….continuous process improvement 11/10/11 MGT 4190 6
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Strategy Formulation Mission and Objective Mission is overall reason the corporation exists Objectives flow from the mission and guide the strategy Cover marketing, production, finance, profitability, research and development etc, etc 11/10/11 MGT 4190 7
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Strategy Formulation Governance How to protect shareholder interests against the fact that managers work for themselves How to look after the interests of national/local stake-holders 11/10/11 MGT 4190 8
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Strategy Formulation Environmental Assessment Gathering information and forecasting relevant trends, competitive actions and circumstances that
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