If you are in the process of studying global strategy, you’ve come to the right place. Here, we explain its definition, main objectives, and required resources. You will also find some amazing global strategy examples, along with some essay samples to help you along the way.
✨ Top-3 Global Strategy Examples
- US Multinational Company: Organizational Behavior
- Leadership Development in a Global Environment
- Federal Express Company: Global Environment' Strategies
🌐 What Is Global Strategy: Definition
The definition of global strategy is fairly straightforward. In short, it is a strategy developed by a company to expand into the international market. A global strategy is a detailed plan that businesses pursue if they aim to expand or target growth internationally.
The entry of a company into the international market often brings previously unknown benefits if it has not expanded beyond its home country. There are different strategies unique for each business. Still, whatever approach is imposed, it’s usually beneficial for both the company and the consumers as it expands trade, opens global supply chains, and encourages economic activity.
What Are the Main Objectives of the Global Strategy?
Not all companies have the capacity to facilitate expansion internationally. However, if a business decides to go that route, it is important to think of its main objectives regarding global strategy. These can be to increase the sales of goods and services abroad or to gain more brand exposure, leading to greater credibility and an improved reputation.
What Are the Resources Required in Building a Global Strategy?
The primary resources in building a global strategy are funds, quality maintenance, a set timeframe, commitment and effort from the higher-ups, and innovation. Companies must also consider whether they must develop and adapt their resources for domestic markets. McDonald’s global strategy example is a masterclass of properly adapting key resources and adjusting marketing strategies.
📊 Types of Global Strategy in Strategic Management
The three main types of global strategies are standardization, international, and multinational. Here’s what each strategy entails:
- The standardization strategy involves selling the same product in every location. The central management makes critical decisions about the product and is not delegated to the local markets. The Apple global strategy involving the iPad is an example of standardization. iPads are the same wherever you buy them.
- Most businesses begin their global expansion with the international strategy. This includes exporting or importing goods and services while keeping a head office or offices in their country of origin. Usually, international strategies prioritize the company’s domestic market while doing business abroad, which is why the head office is still maintained at home.
- The multinational strategy differs from the international strategy. It entails catering to each local market and having physical business locations and employees based in multiple places.
🔝 Global Strategy Example Companies: Top 5
- Walmart.
After acquiring local businesses, the Walmart global strategy involves adapting its operations to local customer behaviors. It succeeds by reaching out to a wide range of consumer sectors. - Dunkin’ Donuts.
Dunkin’ Donuts believes that cultural differences should be embraced, not shunned. Following this philosophy, it developed the Grapefruit Coolata in Korea, Mango Chocolate Donut in Lebanon, and Dunclairs in Russia. - Nike.
“Nike By You” is one platform the company uses to appeal to its international market. Nike can produce personalized products that fit various cultural preferences and styles by putting the power of design in the hands of the consumer. - Coca-Cola.
Another fine global strategy example worthy of imitation is that of Coca-Cola. The company concentrates on minor community programs and devotes significant time and money to small-scale charitable efforts. - Victoria’s Secret.
The popular lingerie chain looks and feels the same no matter where you buy your clothes. As a point of entry, it relies primarily on an export model and the opening of stores in smaller locations such as malls and airports.
There are many approaches to the global strategy that a business can undertake. We hope that this article helped you understand them better. To learn more about this topic, read the essay samples below!
📝 Global Business Strategy Research Paper Examples
- Under Armour Company's GlobalizationBusiness essay sample: Under Armour deals with high-quality athletic wear that meets the diverse needs of sports. It has been able to venture into global markets and manage global business commendable.
- General Electric Company's Global Business ManagementBusiness essay sample: General Electric is currently manufacturing products ranging from household appliances to aviation products besides offering financial services.
- Steel Industry: Thriving in a Competitive Global EnvironmentBusiness essay sample: The global steel industry is highly competitive as large multinational corporations struggle to expand their market share beyond their national borders.
- Global Business Management: Japanese Market PlaceBusiness essay sample: The political environment in Japan has evolved over the past decades from dictatorship to constitutional monarch.
- Risks and Opportunities in Managing Global TeamsBusiness essay sample: This report will focus on an in-depth exploration of risks and opportunities from global teams and managerial processes to mitigate threats in a volatile business environment.
- Uber Strategy: Global & Internal Uber Business Strategy AnalysisBusiness essay sample: What is Uber’s business strategy? 🚕 The company was founded as an easy-to-use and fast taxi service. 💨 Read this Uber strategy analysis to explore the model that skyrocketed Uber business strategy. 🚀
- Sharp Corporation: Global StrategyBusiness essay sample: The success of Sharp Corporation is a result of its focus on strategies. The discussion will focus on the global strategy of the company: both internal and external elements.
- Company Problem Solution: Global CommunicationsBusiness essay sample: This paper looks at the various problems facing the company and the initiatives the company can take to ensure its survival in the global market.
- Managing in a Global ContextBusiness essay sample: This paper discusses the importance of managing people in a global context, organizational development, change management and its' psychology and managers' role.
- Southwest Airlines' Business Strategy in the Global EnvironmentBusiness essay sample: The Southwest Airlines company is credited for its successful model which applies low pricing mechanisms to retain and attract its customers.
- Global Business Strategies OverviewBusiness essay sample: Globalization is the process in which businesses and technologies spread throughout the world. It is the worldwide movement toward economic, financial, trade and communications integration.
- Kraft Foods and Cadbury's Global Marketing EthicsBusiness essay sample: The analysis of the market, where Kraft Foods and Cadbury operate, should be performed on the basis of the precise differentiation of the foods.
- Global Business Cultural Analysis: SwedenBusiness essay sample: Sweden is found in the Scandinavian Peninsula in Northern Europe and is the third-largest country compared to other European Union countries.
- Strategic Alliance As a Competitive StrategyBusiness essay sample: Any strategic alliance aims at creating value. The companies must realize the advantages of a strategic alliance through a merger, global competitiveness, and cost-saving approach.
- Planning Tools in Management AccountingBusiness essay sample: There are several types of budgeting, including sales, production, selling and administration, and material, labor, and expenses budgets.