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Strategic options for competing internationally is your company

Discussion Question #1: What are your firm’s primary strengths and weaknesses? What are the key trends (opportunities/threats) in the environment affecting this industry? What do you think should be the top three strategic priorities for this firm moving forward?

Discussion Question #2: Which of the three strategic options for competing internationally is your company currently utilizing (multi-country, global, or hybrid)? How (through which method) did they establish a competitive presence abroad (exporting, foreign licensing, franchising, acquisitions, and/or strategic alliances)?

Discussion Question #3: What does the strategic group map of your firm’s industry look like? What decision factors did you use to construct it? Which strategic groups do you think are in the best positions to compete — here and abroad? The worst positions?

Discussion Question #4: What are the key international business risks facing your company today? What recommendations would you make for your company to improve its competitiveness in the global market, while mitigating any current and future risks?

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Sample Answer

 

 

Discussion Question #1: Strengths, Weaknesses, Opportunities, and Threats (SWOT Analysis)

  • Strengths: Identify the internal capabilities and resources that give your firm a competitive advantage. This could include brand recognition, technological expertise, a strong distribution network, or a skilled workforce.
  • Weaknesses: Analyze internal limitations that hinder your firm’s performance. This could involve limited research and development, a weak financial position, outdated technology, or a lack of marketing expertise.
  • Opportunities: Explore external factors that present favorable conditions for growth. This could involve emerging markets, new technologies, changing customer preferences, or weaknesses of competitors.
  • Threats: Identify external factors that pose risks to your firm’s success. This could involve new regulations, economic downturns, technological disruptions, or the increasing strength of competitors.

Full Answer Section

 

 

 

Strategic Priorities: Based on your SWOT analysis, identify the top three strategic priorities for your firm. These priorities should leverage strengths and opportunities while mitigating weaknesses and threats.

Discussion Question #2: International Competitive Strategy

  • Identify Current Strategy:Determine which international competitive strategy your company is currently using:
    • Multi-country:Companies tailor their products and marketing to each national market.
    • Global:Companies offer standardized products and marketing strategies across all markets.
    • Hybrid:Companies combine elements of both multi-country and global strategies.
  • Competitive Presence Abroad:Analyze the method(s) your company used to establish a presence in international markets:
    • Exporting:Selling products directly to foreign buyers.
    • Foreign licensing:Granting a foreign company the right to produce or sell your product.
    • Franchising:Granting a foreign company the right to operate a business using your brand and model.
    • Acquisitions:Purchasing existing foreign companies.
    • Strategic alliances:Partnering with foreign companies to share resources and expertise.

Discussion Question #3: Strategic Group Map

  • Strategic Group Map:Create a visual representation of your firm’s industry, where firms are grouped based on similar competitive strategies and performance metrics. Use two key decision factors (e.g., product differentiation, cost leadership) to position firms on the map.
  • Competitive Positions:Analyze which strategic groups are best positioned based on their proximity to ideal strategic positions within the map. Consider factors like profitability, growth potential, and future market trends.

Discussion Question #4: International Business Risks and Recommendations

  • International Business Risks:Identify the key risks your company faces in the global market, such as:
    • Political risks:Changes in government policies or political instability in foreign markets.
    • Economic risks:Currency fluctuations, economic downturns, or inflation in foreign markets.
    • Legal risks:Differences in legal systems and regulations across countries.
    • Cultural risks:Differences in consumer preferences, business practices, and cultural values.
  • Recommendations for Competitiveness:Suggest strategies to improve your company’s competitiveness in the global market:
    • Market Research:Conduct thorough market research to understand international customer needs and market trends.
    • Localization:Adapt products, marketing messages, and business practices to specific international markets.
    • Partnerships:Develop strategic partnerships with local firms to gain market access and expertise.
    • Global Supply Chain Management:Establish efficient global supply chains to optimize costs and manage risks.

By considering these frameworks, you can analyze any company’s strategic position and develop recommendations for future success.

 

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