GMS 522 - Global Strategic Planning exam with complete solutions.
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Course
GMS522
Institution
GMS522
Global Strategy Planning Process
the following are steps to:
1. Define the Business
2. Formulate the Global Business Strategy
3. Develop the Global Marketing Strategy
4. Implement the Global Marketing Strategy
Strategic Business Unit (SBU)
represents groupings within the organization bas...
GMS 522 - Global Strategic Planning exam
with complete solutions
Global Strategy Planning Process
the following are steps to:
1. Define the Business
2. Formulate the Global Business Strategy
3. Develop the Global Marketing Strategy
4. Implement the Global Marketing Strategy
Strategic Business Unit (SBU)
represents groupings within the organization based on, for example, the type of
customers to be served (e.g. government or industrial) or the products or
services demanded by those customers
Define the Business
first step in global strategic planning process;strategic planning is usually
undertaken at the level of the SBU - fundamental questions asked:
-"What business are we really in?"
-"Who are our competitors?"
-"Who are our customers?"
Formulate the Global Business Strategy
second step in global strategic planning process; to accomplish this task, the
firm must select a strategic orientation and adopt a country-market focus
Porter's Generic Strategies
Cost Leadership
, a Porter generic strategy; superior technology gives firm lowest cost in the
industry across a broad range of market segments - must have barriers to entry
Differentiation
a Porter generic strategy; firm has a broad range of products with unique features
that are highly valued by consumers
Cost Focus
a Porter generic strategy; low cost advantage but only in a narrow segment of the
market
Focused Differentiation
a Porter generic strategy; product differentiation but within a narrow segment of
the market
Country Market Focus
part of formulating the global strategy (step 2); internal company strengths &
external attractiveness (e.g. market growth rates and level of competition)
Hyper-competitive Market
a situation in which there is a lot of very strong competition between companies,
markets are changing ver quickly and it's easy to enter a new market; not
possible for one company to keep a competitive advantage for very long
The 7S Framework
Tactics for Disruption
part of the 7S framework; seizing advantage by:
-Shifting the rules
-Signaling
-Simultaneous & sequential strategic thrusts
Vision for Disruption
part of the 7S framework; identifying & creating opportunities for temporary
disruption through understanding:
-Stakeholder satisfaction
-Strategic soothsaying
Capability for Disruption
part of the 7S framework; developing the capability for:
-Speed
-Surprise
Country Diversification
seeking to build a diverse portfolio of country markets, thereby reducing reliance
on any one
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