The New Age of Innovation: Driving Cocreated Value Through

Format: Hardcover

Language: English

Format: PDF / Kindle / ePub

Size: 10.91 MB

Downloadable formats: PDF

Fons Trompenaars: Transcultural Competence: reconcile dilemmas to collaborate and innovate In today’s connected, fast-paced world, transcultural competence is more important than it already was. Corollary strengths include being reflective, receptive and perceptive. Stay engaged with your team members and know where they can benefit from training, mentoring and other forms of development. Focusing on a narrow market niche within an industry. A Resource-based View (RBV) of the competitive advantages emerged on the premise that it is only the resources of a firm that create the competitive advantages.

Pages: 304

Publisher: McGraw-Hill Education; 1 edition (April 29, 2008)

ISBN: 0071598286

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Determinants of National Advantage • Factors of production: the inputs necessary to compete in any industry- Labour, land, natural resources, capital, infrastructure and an educated workforce • Demand conditions: nature and size of domestic buyers’ needs can lead to scale-efficient facilities, efficiency can lead to domination in own / other countries Related & supporting industries: supporting services, facilities, suppliers especially for support in design and distribution Firm strategy, structure and rivalry: Cooperative and competitive systems • Reasons for pursuing an international strategy range from • New opportunities, market expansion, product life cycle extension • Higher potential for product demand and better value realisation • IPR opportunities, access to technology or R&D or distribution channels • Economies of scale or learning • Location advantage- access to raw materials, low cost labour, key customers and energy sources Multidomestic strategy- Strategy and operating decisions are decentralized to strategic business units (SBU) in each country • Products & services tailored to local markets • SBUs independent across countries • Assumes markets differ by country or regions • Competition focus in each market • Common strategy of EU firms due to variety of cultures & markets Global strategy- Products are standardized across national markets • Business-level strategy decisions Transnational strategy- Seeks to achieve both global efficiency and local responsiveness • Difficult to achieve because of simultaneous requirements • Strong central control and coordination to achieve efficiency • Decentralization to achieve local market responsiveness • Must pursue organizational learning to achieve competitive advantage Choice of International Entry Mode Type of Entry Characteristics High cost, low control Exporting Low cost, low risk, little control, low returns Shared costs, shared resources, shared risks, problems of integration Quick access to new market, high cost, complex negotiations, problems of merging with domestic operations Complex, often costly, time consuming, high risk, maximum control, potential above-average returns Dynamics The firm has no foreign manufacturing expertise and requires investment only in distribution Learning to Think download online savannahmcgowan.com.

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