During the last half of the twentieth century, many barriers to international trade fell and a wave of firms began pursuing global strategies to gain a competitive advantage. However, some industries benefit more from globalization than do others, and some nations have a comparative advantage over other nations in certain industries. To create a successful global strategy, managers first must understand the nature of global industries and the dynamics of global competition. An international strategy means that internationally scattered subsidiaries act independently and operate as if they were local companies, with minimum coordination from the parent company. Global strategy leads to a wide variety of business strategies, and a high level of adaptation to the local business environment. The challenge here is to develop one single strategy that can be applied throughout the world while at the same time maintaining the flexibility to adapt that strategy to the local business environment when necessary.
Management Strategies for Global Businesses
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The scarcity of qualified managers has become a major constraint on the speed with which multinational companies can expand their international sales. The growth of the knowledge-based society, along with the pressures of opening up emerging markets, has led cutting-edge global companies to recognize now more than ever that human resources and intellectual capital are as significant as financial assets in building sustainable competitive advantage. To follow their lead, chief executives in other multinational companies will have to bridge the yawning chasm between their companies' human resources rhetoric and reality. Good H. These international managers must then be meshed into a cohesive network in which they quickly identify and leverage good ideas worldwide.
Global and International Strategies
Led by China and India, the rise of emerging Asia is transforming the structure of the global economy. By , if not sooner, China will almost certainly overtake the U. By then, India is likely to have overtaken Japan to become the world's third largest economy, after China and the U. Added together, by , these developments are likely to make Asia's economy larger than those of the U.
Global Business Strategy pp Cite as. This chapter examines management strategy theories for global businesses. Should investments be made in regions such as China or Southeast Asia with existing substantial business establishments, or should expansions into new markets such as India, the Middle East, and Africa be considered?