It looks at some of the most important factors, institutions, and processes that affect international business and studies the political environment of business, which has been particularly volatile over the last five years. The test of an intervening process model. Under what conditions does globalisation enable the private sector to develop independent organisational bases and create effective relationships with the state? An examination of the potential impact on new venture start-ups in the UK Global Strategy for Business Dissertation Topics Global business strategy focuses on understanding the main strategic issues that organisations face when they operate as a global business.
They go on by mentioning that, within international marketing, companies are involved in making global decisions in one or more variables of the marketing mix.
Consequently, companies who wish to enter international markets are faced with the challenge of considering the options of whether to standardize or adapt the elements of their marketing mix. In the contrast, the most challenging decision that a company may face in internationalization is the degree of standardization or adaptation in its operations.
Whether a company chooses to standardize or adapt its operations depends on its attitudes toward different cultures. These attitudes are defined by three orientations toward foreign culture: Further, standardization is a practice of setting identical characteristics for a particular good or service.
Product standardization is an efficient method to reduce costs and increase quality. By minimizing the differences in your products, you are able to rapidly increase production, streamline distribution, decrease raw material costs and reinforce product branding.
The best product standardization strategies allow you to balance the need for targeted adaptation with the cost savings of standardization.
Piston industry — Standard sizes of pistons are produced for different products. So that they can be easily available in the market in case of requirements. Its developed standardized products are marketed worldwide with a standardized marketing mix.
However, there are many obstacles to the application of uniform marketing policies. Such as reduction of choices, less flexibility, small ranges, obstacles to progress, varieties of consumer attitudes, competitive environment etc…. Adaptation is a marketing strategy where new products or services are modified based on existing products and services.
However, this is not to suggest that in doing so they pioneer in innovation. In order to meet the needs of international customers, the firm may need to adapt its product to suit individual or regional markets.
The company will also need to establish a brand that can be applied globally or tailored to fit into the local market. Product adaptation strategies are also being considered as perhaps the most influential aspect of Multi-National Corporations MNCs. There are many factors affecting to use adaptation strategies.
Red-symbol of good luck Gold-symbol of wealth and happiness.To conclude, the goals of market complexity and cost reduction may influence firms to consider standardisation where as customer orientation may lead them towards adaptation but by incorporating both will help firms gain a competitive advantage and above average returns.
Standardization vs. adaptation of the marketing mix in foreign markets has been one of the key research areas in international marketing since late s.
Several authors have presented many Essay about Standardisation Versus Adaptation in a Globalisation Context Standardisation versus Help; Contact Us. Home Essays Advantage & Disadvantages of Standardisation and Adaptation Strategies Standardisation and Adaptation Discuss the advantages and disadvantages of standardization strategies and adaptation strategies in a global environment.
Product adaptation is the changes and special modifications are made in order to adjust to each market. Adaptation is a marketing strategy where new products or services are modified based on existing products and services.
Its been a long time, since the two opposing international marketing strategies have been debated upon – standardisation versus adaptation of Fair Use Policy Help Centre.
The diesel engine (also known as a compression-ignition or CI engine), named after Rudolf Diesel, is an internal combustion engine in which ignition of the fuel, which is injected into the combustion chamber, is caused by the elevated temperature of the air in the cylinder due to the mechanical compression (adiabatic compression).Diesel engines work by compressing only the air.