Please enable JavaScript.
Coggle requires JavaScript to display documents.
INTERNATIONAL BUSINESS MANAGEMENT (International Strategies (MultiDomestic…
INTERNATIONAL BUSINESS MANAGEMENT
Ethics in international business
All types of business must always be covered by business ethics. Understanding ethics not as a set of values, but as the precept to always work well, according to the moral guidelines and the philosophy of the company. Ethics in international business is becoming increasingly important to the extent that through international business bad international trade practices could be developed.
International Business, International Management, and International Strategy .
International Businesst
International activities are those that involve crossing the borders betweennation-states.
A commercial or industrial enterprise that sells goods or services to customers.
Business that crosses national borders, that is, it includes the comparative study of business as an organizational form in different countries, cross-border activities of businesses, and interactions of business with the international environment.
International Strategy
International strategic management is the comprehensive set of commitments, decisions, and actions by firms to gain competitiveness internationally
The field of IS deals with (1) the major intended and emergent initiatives, including cross-border initiatives, (2) taken by general managers on behalf of owners, (3) involving utilization of domestic and/or foreign resources (4) to enhance the performance (5) of firms (6) in the international environment.
International Management
Crossing borders should be defined broadly as including not only tangible and intangible cross-border transfers but also the transfer of “management resources, philosophies and practices” across national borders (Boddewyn et al. 2004, 198)
Both the crossing of national borders and the internal and external environmental diversity that organizations and their managers experience when functioning outside their home state,” which for organizations implies “an interaction between two or more cultures” (2004, 200)
Mental transformation generated by experiences and exchanges
Opportunities and challenges faced when internationalizating business
The internationalization of companies is a retouching involves multiple barriers: cultural, geographical, demographic, social, economic and even environmental barriers.
The great challenge of the professional in international business is to overcome these barriers and take advantage of the potential of the international market.
The manager role in the internationalization process
At the management level of an organization, managers play a fundamental role that is "reduced" to decision making. Although it seems easy, the future of it depends on making decisions in organizations. Hence the great responsibility that managers have.
Managerial decision- making in business internationalization
Openess of desicion making
Decision making cannot be a closed, periodic or regular process. The dried ones are taken when needed
Consensus desicion making
The managers are not alone. The work team is essential in the development and making of the company's decisions
Willingness to take risk
Informally it has been said that he who does not risk does not win
International Strategies
MultiDomestic Strategy – is focused on differentiating its product offerings to adapt to local markets. Decisions tend to be decentralized to permit the firm to tailor its products to respond rapidly to changes in demand.
Global Strategy – emphasizes economies of scale due to standardization of product offerings, and the
centralization of operations in a few locations
Transnational Strategy – considers optimization and efficiencies associated with local adaptation and
learning
International Strategy – is based on the diffusion and adaptation of the parent company’s knowledge and
expertise to foreign markets
