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Shaping Business Opportunities :globe_with_meridians: (COMPETING IN A…
Shaping Business Opportunities :globe_with_meridians:
COMPETING IN A GLOBAL CONTEXT :satellite_antenna:
Global Trade Environment
Aim: achieve stability
Changes in trade
Digital Technology
Transportation Developments
Organisations
Intergrating global and local forces = glocalisation
Converge-> International best practice
Diverge-> local needs
Crossvergence/glocalisation
(differentiate/innovate)
Why trade globally?
Comparative advantage
Competitive position
Counter-trends: Nationalism
International Operations
Strategy: offshoring/re-shoring
Vertically integrated supply chain/Outsourcing
International Marketing
Appropriate adaptation to local context
HRM within globalisation
International labour market
Employers greater power/employees less bargaining power
Economies: inter-dependent
Global imbalances/FINANCE
Protectionism and nativism/
MNC deters healthy competition
Urbanisation
Tax competition/avoidance
BEPS Project
Foreign Exchange Market: Volatile exchange rates
Government intervention
Balance of payment = comparative position
Surplus/deficit countries
Economic stability
IMF
World Bank
BUILDING LONG-TERM SUCCESS :hammer_and_pick:
Operational Risk
Potential risk/event resulting in negative consequences
Hazard (source)
Risk assessment matrix (assess likelihood/impact)
Risk mitigation
Employment Relations
Value Player
Value orientated workforce
Industrial Relations: collective bargaining
HRM: individualised empowerment?
Opportunities and Challenges
Flexible working: employee benefit?
Quality
Compares intended outcome with actual outcome
Leadership and Management
Leadership: vision, trust, top-down/bottom-up, forward thinking
Management: plan, control, inward looking
Ideas in time
Short-term: quick return
Medium-term: relaunch
Long-term: new vision
Relationship marketing
Maximise lifetime value of customer
Accounting
Short-term decisions deter long-term value
Reliable measurement
INNOVATION :bulb:
Opportunities within strategic windows
Fostering innovative culture - implementing systems that enhance efficiency, quality, promote need for new big ideas
Innovation within business functions:
Needs holistic approach: Globalisation
Marketing and operations strategic coordination
Marketing
Mission statement clearly articulates purpose
Marketing Mix
Operations
Transformation processes: input–process–output framework
Design, planning and improvement of processes
Operations strategy reconciliation process:
market driven Walley (2017) - operations performance - tradeoffs according
Financing
liquidity
alternatives: crowd funding, micro-finance
Analysis of external (macro- and micro-) business environment = understand context, adapt to changing economic conditions
Trading globally
economic benefits: migrant workers, outsourcing
Barriers: trade tariffs- protectionism/nationalism, government revenue