International Strategies Revised
Today’s business market calls for effective and visionary strategies. Making decisions is important due to the increased uncertainties that are prevalent. Therefore, the approaches are more complex because of the interdependent nature of the decision-making. Examples of international strategies include the multinational and global schemes. While in a multinational setting national subsidiaries adapt to local conditions, the global policies integrate national markets with a purpose to maximize global efficiency while selling similar low-cost goods across the world.
Localisation brings about benefits that are revenue based and encourages efforts aimed at reaching all customer niches and gaining high responsiveness (Azevedo et al. 2000). Therefore, it is upon the company to weigh between standardization costs and potential revenue generation that characterize adaptation. The multinational companies employ decentralized federation and distribution of resources with delegation of responsibilities resulting in foreign operations while answering to local differences. The vision is to establish strategies with a polycentric view of the world through domestic references. As a result, there will be customization of the market mix for individual markets that inform the final design of operations while responding to local demands.
Global organizations involve the universal integration in designing and implemen…
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