International-Business-Dr-R-Chandran-E-book
International-Business-Dr-R-Chandran-E-book International-Business-Dr-R-Chandran-E-book
Stage # 5 Stage # 6 through production Review all the pitfalls and gear up to other regions Emerging as global enterprise nearby countries and build brand name Analyse the potential in various regions. Evaluate the partners, investment climate and Socio- Cultural background Produce, distribute, invest and build corporate image and face competition SPEED OF GLOBAL EXPANSION 148 International Business- Dr. R. Chandran The network members become patrons. Comparing and selection of right locations, right partners and right markets Global production Global investments Global brand name Status of global company Having begun the journey towards globalization, a company must still address the question as to how fast it should expand globally. Rapid globalization enables a firm to grow aggressively but it can also spread managerial, organizational and financial resources quickly. The absence of one of these resources can jeopardize a company’s ability to perform. Faster global expansion is more appropriate under the following condition: A. It is easy for competitors to replicate a firm’s recipe for success. This possibility is obvious for fast food and retailing companies such as Kentucky Fried Chicken and Starbucks. Once the concept has been created in a market, competitors can come in and easily replicate it with relatively low investment. B. The scale of economies is extremely important. Mass production through cost reduction leads to rapid success. Firms which come in later may lose out in a specific sector. This is the reason why tyre manufacturers such as Goodyear, Michelin and Bridgestone, which went global at rapid rate now have considerable advantage over other firms such as Pirelli and Continental, which were slower in entering the global market. Only for Private Circulation
149 International Business- Dr. R. Chandran C. The management is highly capable of managing global operations. For example, consider the case of global companies such as Anglo Dutch conglomerate Unilever or the Swedish-Swiss company ABB. If these companies successfully introduce a new product line in one country, it is relatively easy, and also logical, for them to globalize this line rapidly. THE ROLE OF GLOBAL MANAGERS – CRITERIA FOR SUCCESS The management, which may be very successful domestically may not be able to maintain the same level of performance level in its global operations. Global operations require the investment of extremely large sums of money and the managers have to live up to high expectations. To handle business in a global context and make an organization successful, the managerial team requires certain unique qualities. 1. They should have a strong information base. 2. They should possess multi-lingual skills. 3. The managerial cadre should be adaptable in its approach. 4. They should understand the strategies of their competitors. 5. Cost management should be meticulous. 6. The persons should be highly innovative and be able to identify new avenues. 7. They must be able to understand and implement all the organizational policies. 8. The leader must be acceptable, not only to his team, but also to institutions like banks, which support the company. In short, the managerial team should consist of personnel who are multilingual, multi-cultural, adaptable, informative, multi-functional, efficient and enthusiastic. Only then will a company be able to succeed in its global operations. Only for Private Circulation
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149<br />
<strong>International</strong> <strong>Business</strong>- <strong>Dr</strong>. R. <strong>Chandran</strong><br />
C. The management is highly capable of managing global operations. For<br />
example, consider the case of global companies such as Anglo Dutch<br />
conglomerate Unilever or the Swedish-Swiss company ABB. If these<br />
companies successfully introduce a new product line in one country, it is<br />
relatively easy, and also logical, for them to globalize this line rapidly.<br />
THE ROLE OF GLOBAL MANAGERS – CRITERIA FOR<br />
SUCCESS<br />
The management, which may be very successful domestically may not be<br />
able to maintain the same level of performance level in its global operations.<br />
Global operations require the investment of extremely large sums of money<br />
and the managers have to live up to high expectations. To handle business in<br />
a global context and make an organization successful, the managerial team<br />
requires certain unique qualities.<br />
1. They should have a strong information base.<br />
2. They should possess multi-lingual skills.<br />
3. The managerial cadre should be adaptable in its approach.<br />
4. They should understand the strategies of their competitors.<br />
5. Cost management should be meticulous.<br />
6. The persons should be highly innovative and be able to identify new<br />
avenues.<br />
7. They must be able to understand and implement all the organizational<br />
policies.<br />
8. The leader must be acceptable, not only to his team, but also to<br />
institutions like banks, which support the company.<br />
In short, the managerial team should consist of personnel who are multilingual,<br />
multi-cultural, adaptable, informative, multi-functional, efficient<br />
and enthusiastic. Only then will a company be able to succeed in its<br />
global operations.<br />
Only for Private Circulation
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