What is the strength of catering to multiple niches?
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Possibly getting economies of scope
Narrow Target approach
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Focuses on a single niche/segment
What is Functional Level Strategy?
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Strategies followed by the specialized departments or areas of a business
-Ex. Human Resources, sales, finance
Technological Factors:
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Changes in product/services and how they are made and delivered
-Smartphone
Define what we mean by the term "multidomestic strategy"
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A company's international strategy crafted country by country to be
responsive to critical needs and competitive conditions in each country
where it operates
What is Suboptimization?
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, When maximizing the performance of one area (department) leads to
lower performances for the entire organization.
What are the strengths of multidomestic strategy?
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Customizing products to meet a country's need
-Specialize toward every country they're involved in
What is the strength of related diversification?
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Synergy
What are the characteristics of firms that successfully follow the differentiation
approach?
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-Emphasize product/service innovations
-Culture based on continuous product/service innovation
What are the characteristics of firms that successfully follow a low cost approach?
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-Cultures based on low costs
-Sell commodities
-Focus on process innovation
-Focus on product/service innovations that reduce costs
-Make sure the product is of acceptable usefulness
Should Intended and Realized strategies be the same in a well managed company?
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No
What is an industry?
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A group of firms selling similar or identical products from the viewpoint of
the consumer
What are the 3 "pillars" of sustainability?
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Give this one a try later!
Possibly getting economies of scope
Narrow Target approach
Give this one a try later!
Focuses on a single niche/segment
What is Functional Level Strategy?
,Give this one a try later!
Strategies followed by the specialized departments or areas of a business
-Ex. Human Resources, sales, finance
Technological Factors:
Give this one a try later!
Changes in product/services and how they are made and delivered
-Smartphone
Define what we mean by the term "multidomestic strategy"
Give this one a try later!
A company's international strategy crafted country by country to be
responsive to critical needs and competitive conditions in each country
where it operates
What is Suboptimization?
Give this one a try later!
, When maximizing the performance of one area (department) leads to
lower performances for the entire organization.
What are the strengths of multidomestic strategy?
Give this one a try later!
Customizing products to meet a country's need
-Specialize toward every country they're involved in
What is the strength of related diversification?
Give this one a try later!
Synergy
What are the characteristics of firms that successfully follow the differentiation
approach?
Give this one a try later!
-Emphasize product/service innovations
-Culture based on continuous product/service innovation
What are the characteristics of firms that successfully follow a low cost approach?
, Give this one a try later!
-Cultures based on low costs
-Sell commodities
-Focus on process innovation
-Focus on product/service innovations that reduce costs
-Make sure the product is of acceptable usefulness
Should Intended and Realized strategies be the same in a well managed company?
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No
What is an industry?
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A group of firms selling similar or identical products from the viewpoint of
the consumer
What are the 3 "pillars" of sustainability?
Give this one a try later!
