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The article highlights the major proponents of change and gives critical insight into the innovative approach that enables the businesses to compete against their rivals.
The article succinctly argues that in the contemporary environment of globalization and recessive economy, the businesses need to evolve strategies that cater to the masses and meet the changing need of the people. The article also emphasizes that cost innovative strategies have become essential for businesses to maintain competitive advantage. The various means the businesses can effectively survive and maintain market position is moving away from premium products and make efforts for mass production of goods and services that are customised to the changing demands of current cash strapped customers. People want more value from the competitively priced goods. Another cost effective way the businesses are adopting is shifting their manufacturing and R&D facilities to the emerging new economies where the production and research cost is considerably low.
The article also proposes that the emerging markets are crucial in the era of globalization and can be defined as the new area with high income and where the demand for the product can be created with relative success. Thus, the businesses must expand their operations in developing economies like India and China and exploit the market conditions. Last but not the least important are the innovative marketing techniques that need to be adopted to reach the masses. Hence the authors have suggested communication through alternative channels like posters, carry bags, luggage carts etc where the companies can put their name. These are low cost advertising channels and eminently suitable for the current recessive trend.
I agree with the authors concern for adopting creative approach to sustain business in difficult time. While many big corporations and multinationals have found it hard to survive in the
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onclusion 25 11.Recommendation 25 Reference 26 1. Executive Summary This paper involves the multiple aspects and requirements for global strategic management. Therefore, in order to offer a better description, the entities paper focuses on the international business and strategic management of Air Products & Chemicals, Inc, a U.S.-based leading manufacturer and seller of packaged gas and chemical.
33). These factors can either be specific for the industry, or may be generalized and affect everyone. For instance, the global recession would be considered to be an external driver. The way to analyze this would be by conducting a PEST analysis. The first component of a PEST analysis would be the political environment, which would include government legislation and political risk.
The PEST and 7S analysis has been done to give an idea about the environmental condition in the country. This will analyse the various political, economic, social and technological factors in UK. The SWOT analysis highlighting the strengths and other significant aspects has also been discussed to give an idea about the retail market.
Packaged gases are sold under the Merchant Gases Segment. The company pack atmospheric (oxygen, nitrogen and argon), specialty gases and processed gases (hydrogen and Helium) in small quantities in cylinders or dewars. Packaged gases are mainly sold in Europe, Asia and Brazil.
Organization needs to understand these issues and how they can correspond to both globalization and corporate strategic management. In this paper we will discuss the impact of globalization on corporate strategic management and certain issues like global crises related to workforce, offshore outsourcing and etc are discussed in this paper.
The strategic challenge is to determine what product Apple should develop next to increase sales, and what features would customers want in this next product.
Apple’s success with iPod and iTunes was based on product differentiation
Apple has been one of those companies that could successfully shift their business with time. Established in the year of 1976 by two college dropout friends named Steve Jobs and Steve Wozniak on April 01 at the family garage, Apple drew huge attention within few years of its
ssibility but independent coffee shops which served wine, beer and liquor along with the coffee may pose a threat, and bagel and donut shops do pose as a threat.
(2) & (3) Threat of new entrants and existing competition: Since Starbucks has already built a positive image; a new
The problem with McDonald’s is that the fast food chain failed to carry out its outsourcing operation in an effective manner. When outsourcing any particular job an organization needs to first identify what jobs they should and what jobs they
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