International BusinessStrategy301REN

Introduction to Strategy

Unit: 1 Knowledgecast: 2

• Demonstrate a sound appreciation of current strategic management concepts.

Module Learning Outcomes

Multiple Perspectives

Nature of Strategy Making

Process

Profit Maximisation Outcomes Pluralist

Deliberate

Emergent

Classical Systemic

Evolutionary Processual

• External Demands

Forces for cross-border integration and coordination

Forces for national differentiation and responsiveness

Forces for worldwide innovation and learning

Increasingly Liberalized Environment for Trade

Expanding Spiral of Globalization

Internationalisation Drivers

• Internal Demands

Economies of Scale

Economies of Scope

Factor Costs

Internationalisation Drivers

• For industry globalization to take place: Underlying drivers (economies of scale and scope, etc.)

have to be in place But always triggered by actions of one of two global

“change agents”

• Examples: British Airways (airlines) Starbucks (premium coffee shops) ISS (cleaning services)

Global Competitors as Change Agents

• Cultural differences• Consumer tastes and preferences• Ways of doing business• National infrastructure• Technical standards (e.g., voltage, TV broadcast, etc.)• Distribution channels (e.g., supermarkets vs. bazaars)• Government demands• National laws and regulations• Host country pressures and demands• Local competitors• Appeal to nationalism

Forces for Local Responsiveness

• Demonstrate a sound appreciation of current strategic management concepts.

Knowledgecast Summary

Heraldic Shields

Getting to Know Each Other

When selected to work in an internal, cross- functional

team, it is important that the team get to know each other quickly in order to understand what each other can bring to the project and therefore understand

their own role and responsibilities.

The purpose of this seminar is for you to get to know your fellow team members as quickly as possible by undertaking the following activity.

Seminar

Balloon DebateBusiness Balloon Debate: As a team of management consultants you

arebidding for some work with a new client who is looking to develop theirStrategy and needs your expertise and experience.

Prepare a case to justify your inclusion in the team.

Remember this is a persuasive piece of work upon which you are going to

receive some pretty direct feedback!

Further details of this group activity are available in Moodle.

Seminar

Researching Strategy: You are required to carry out an independent research activity toidentify a minimum of three other definitions of strategy from

bothacademic and non-academic sources. Please record the

definition, its source and whether it is an academic or non-academic definition on paper or digitally and bring it to the session.

When you have gathered the alternative definitions, share them with your team in order to make notes comparing and

contrasting the definitions (max 250 words).

Group Activity