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Author Question: What are the unique challenges of the international strategic management process? Briefly describe ... (Read 111 times)

Evvie72

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on: Jul 7, 2018
What are the unique challenges of the international strategic management process? Briefly describe the international strategic management process.
 
  What will be an ideal response?

Question 2

In order for local responsiveness to effectively increase a firm's competitiveness, which of the following is necessary?
 
  A) Local managers need to be able to make decisions based on local needs.
  B) Corporate executives must standardize marketing and merchandising.
  C) Employees must be hired and trained only within a local region.
  D) A firm's bankers and financial managers must be locally based.
International Business: A Managerial Perspective ¦ Griffin, Pustay ¦ 9th Edition
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rnehls

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Reply #1 on: Jul 7, 2018
Answer to Question 1

Some possible answers include language, culture, politics, economy, currency, legal and accounting systems, governmental interference, and labor. In domestic operations, English is universally used, while in international operation the use of local language is required in many situations. In domestic operations, culture is relatively homogeneous, while it is quite diverse in international operations. Politics are stable and somewhat unimportant domestically but could be volatile internationally. The economy is uniform domestically but varies internationally. Finally, governmental interference is extensive and subject to change in international operations but minimal in domestic operations. The steps in the process are to 1.develop a mission statement, 2. perform a SWOT analysis, 3. set strategic goals, 4. develop tactical goals and plans, and 5. develop a control framework.

Answer to Question 2

A


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