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There is the need to identify the best method to satisfy the customer’s needs, demands or wants, for the efficiency organizational objectives should be made or focused according to sources company have. Customers play an important role in the international market, the strategies need to design according to the consumers tastes and preferences because people of different countries have different preferences which needed to be understood by the companies, wants to get the advantage in the competitive or international market. In PESTLE, analysis there is information regarding politics, economics, social, technological, legal and environmental. From the technological perspective every company need to be the advance, PESTLE analysis is best in this way, to control the international marketing functions, companies should have knowledge about what is going on in the global market. Example for the competitive advantage a company needs to focus on technological perspective, to see the preferences from customer preferences, should design liberal economic policies, and review the level of economic growth, and from focusing on these perspectives any company could survive in the international market.Īlso Study: Pros and Cons of Globalization Research Paper Exampleįor the international competitive advantages, the strategies need to be the advance, which enables companies to attain an appreciation of the complexities in the international market. As we studied in the chapter, there are various strategies that could participate in the globalization and international strategies.
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Globalization of the companies are influencing the international market to invest in the companies, it is the need of the companies to develop the strategies, which promote their organization internationally organizations need to design or develop the skills, knowledge and aptitude to compete in the international market. Influences Of Globalization On International Strategy Development Choice of the market is the important decision. In the last, it is concluded that organizations should decide carefully about internationals markets. It applied diversification strategy and changed products from meat and chicken towards vegetables. For example, McDonalds changed its products according to the taste of Indian customers. Companies should identify that what type of diversification in products and services is successful in the market. Theory of diversification should be applied in this case. It is important to note that international strategy is different from domestic strategy. Companies fail in internationals markets due to lack of information about international markets and customers choices. SWOT analysis is an important choice for companies in this case. Analysis of firm’s internal as well as external strategy is important for the success of international expansion. Diversification is another important choice for companies in order to be successful in international markets. Business should also identify market information of the international markets in order to be successful. Business should first identify its competitive advantage before expanding into international markets. The success of international strategy is based on the identifying strategy to create value in the global market. The International strategy should be based on increasing firm value. Also Study: Positives and Negatives of Globalization for Business