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Competing in a global context (International competition: (Imperative to…
Competing in a global context
Globalisation
Globalisation is facilitated by:
Many world economies are reducing barriers to trade, with laws and regulation embracing the globalisation agenda. (10)
WTO and IMF key institutions to encourage and aid the flow of goods, capital, people and information across national borders.
Revolutionary technological advancements – internet, instant communication, transportation solutions (cargo ships)
Social media and other mass media platforms (film) driving awareness of brands and influencing global demand
FDI
Increased prosperity and jobs: forging new emerging markets
Prevalence of MNUs:
Access to knowledge 9.1 – for innovation
Convergence
Innovate around international best practises
Increased scrutiny of practises transparency need to pursue most effective strategy. Minimise crisis
Divergence
Adapting to local conditions or internal culture
Crossvergence
glocalisation Global knowledge diverging to local requirements, latest globalisation expansion concept
Shaping world culture
International competition:
Imperative to analyse the competitive position and dynamics of a country to assess opportunities and threats (weak infrastructure government instability.)
Porters diamond model
Comparative advantage
Exchange rates and currency fluctuations
How competitors are reacting to globalisation
porters five forces
New pressures and influence on organisations from the global trading environment:
Relevance of context within the global trade environment significance. Importance for Marketing function of MNUs to realise opportunities and threats to shape long-term strategy
Marketing process
Marketing function to translate language marketing programmes in alignment with values and history no offense from differences in understanding.