The global environment

STRATEGIC ORIENTATIONS OF GLOBAL FIRMS 5
Exhibit 2 Strategic Orientations of Global Firms 6
COMPLEXITY OF THE GLOBAL ENVIRONMENT 6
CONTROL PROBLEMS OF THE GLOBAL 7
GLOBAL STRATEGIC PLANNING 8
MULTIDOMESTIC INDUSTRIES 8
GLOBAL INDUSTRIES 8
MARKET REQUIREMENTS AND PRODUCT CHARACTERISTICS 9
Exhibit 3 Global Strategy in Action 10
COMPETITIVE STRATEGIES FOR FIRMS IN FOREIGN MARKETS 10
NICHE MARKET EXPORTING 10
LICENSING AND CONTRACT MANUFACTURING 11
FRANCHISING 11
JOINT VENTURES 11
FOREIGN BRANCHING 12
EQUITY INVESTMENT 12
WHOLLY OWNED SUBSIDIARIES 12
CONCLUSION 14
REFERENCES 15
INTRODUCTION
Special complications confront a firm involved in the globalization of its operations. Globalization refers to the strategy of approaching worldwide markets with standardized products. Such markets are most commonly created by end consumers that prefer lower-priced, standardized products over higher-priced, customized products and by global corporations that use their worldwide operations to compete in local markets. Global corporations headquartered in one country with subsidiaries in other countries experience difficulties that are understandably associated with operating in several distinctly different competitive arenas.
During this my work about global environment I will:
• Explain the importance of a company’s decision to globalize.
• Describe the four main strategic orientations of global firms.
• Present the complexity of the global environment and the control problems that are faced by global firms.
• Discuss major issues in global strategic planning, including the differences of multinational and global firms.
• Describe the market requirements and product characteristics in global competition.
• Evaluate the competitive strategies for firms in foreign markets, including niche market exporting, licensing and contract manufacturing, franchising, joint ventures, foreign branching, private equity, and wholly owned subsidiaries.
WHY FIRMS GLOBALIZE
The technological advantage once enjoyed by the United States has declined dramatically during the past 30 years. In the late 1950s, more than 80 percent of the world’s major technological innovations were first introduced in the United States. By 1990, the figure had declined to less than 50 percent. In contrast, France is making impressive advances...

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