Business to Business (B2B) Exchanges – Virtual Market on Internet
Ever since we stepped into internet world, we find a sea of change in the way people buy, communicate and socialize with one another. Internet has succeeded in erasing the boundaries and bringing markets together. Today it is possible for one to sit in the comfort of his home or office and search for information […]
International Retailing Branding Strategies
Over the years, the retailers have adopted several unique strategies and ways of dealing with the challenges. We shall briefly discuss the two major strategies adapted by the international retailers in their areas of global operations. Differentiation by Unique Customer Experience Some of the features that highlight the international retailer product is the standardization in […]
Role of Coupons in Retail Marketing
What is Retailing? The sale of products to the customers from a fixed location (malls, department stores, super markets and so on) in small quantities for their end use is called as retailing. Coupons play an important role in promoting the retail stores and making the brand popular amongst the masses. What are Coupons? Any […]
Components of a Successful Integrated Marketing Strategy
Integrated marketing strategy integrates relevant marketing tools to deliver similar message to a larger audience. Remember, an integrated marketing strategy is successful only when it creates awareness of a particular brand among a large number of end-users. Remember, a marketer needs to carefully blend and make the best possible use of all promotional tools so […]
Product Managers Role at Each Stage of Product Life Cycle
In the dynamic world of product management, understanding the nuances of the Product Life Cycle is not just rewarding but key to success. PLC is a step-by-step guide that helps manage a product right from its idea stage to phasing out the product. For the product manager, this is the map that ensures optimization of […]
The most important and widest degree of business objective is termed as the vision of the organization. This is a declaration of large ambition. It concerns with the position that the organization expects to achieve in the future. The vision is related to the strategic intent of the organization. It is an effort by managers to recognize the space between the existing situation of the organization and required position to be attained in the future. It is maintained that the vision of the organization has to be connected to core competences and to potential environmental conditions.
An organization intending to have a global business in requires a transnational strategy. Such a strategy demands a global vision. This entails that the entire world is considered as a possible market place. Competition is looked up on as a worldwide feature. Function are to be are constituted to take advantage global benefits. Operations have to be managed on a global scale. In addition, possibly most prominently, the organization has to possess a transnational attitude, culture and view point.
It can be seen that a global strategy is, to a considerable degree, a business attitude or mode of thinking possible in an organization. Consequently it is critical to comprehend about the level to which a business is adjusted to have a global perspective. It can be claimed that the scheme of values of an organization, which will comprise of its past and growth, its techniques and routines, its foresight and organizational culture will form managerial viewpoint in the direction global strategy.
A valuable structure for classifying the philosophy of an organization is provided by the EPRG matrix. As per this matrix philosophy of an organization will belong to one of the four groups which are as below
Each one of these above mentioned philosophies have connotations for the probable strategy of the business implementing it. It is the responsibility of the Manager to evaluate the principal philosophy of the business. The manager has to find out the degree to which it is to be equipped to sustain and promote a worldwide attitude to business.
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