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Lecture Crafting and executing strategy: The quest for competitive advantage - Chapter 7

Chapter 7: Competing in foreign markets. This chapter includes contents: Why companies expand into foreign markets; cross-country differences in cultural, demographic, and market conditions; the concepts of multi-country competition and global competition; strategy options for entering and competing in foreign markets; the quest for competitive advantage in foreign markets; profit sanctuaries, cross-market subsidization, and global strategic offensives; strategic alliances and joint ventures with foreign partners; competing in emerging foreign markets. | Competing in Foreign Markets 7 Chapter Screen graphics created by: Jana F. Kuzmicki, Ph.D. Troy State University-Florida and Western Region Chapter Roadmap Why Companies Expand into Foreign Markets Cross-Country Differences in Cultural, Demographic, and Market Conditions The Concepts of Multi-country Competition and Global Competition Strategy Options for Entering and Competing in Foreign Markets The Quest for Competitive Advantage in Foreign Markets Profit Sanctuaries, Cross-Market Subsidization, and Global Strategic Offensives Strategic Alliances and Joint Ventures with Foreign Partners Competing in Emerging Foreign Markets The Four Big Strategic Issues in Competing Multinationally Whether to customize a company’s offerings in each different country market to match preferences of local buyers or offer a mostly standardized product worldwide Whether to employ essentially the same basic competitive strategy in all countries or modify the strategy country by country Where to locate a company’s production facilities, distribution centers, and customer service operations to realize the greatest locational advantages Whether and how to efficiently transfer a company’s resource strengths and capabilities from one country to another to secure competitive advantage What Is the Motivation for Competing Internationally? Gain access to new customers Capitalize on core competencies Help achieve lower costs Spread business risk across wider market base Obtain access to valuable natural resources International vs. Global Competition International Competitor Global Competitor Company operates in a select few foreign countries, with modest ambitions to expand further Company markets products in 50 to 100 countries and is expanding operations into additional country markets annually Cross-Country Differences in Cultural, Demographic, and Market Conditions Cultures and lifestyles differ among countries Differences in market demographics Variations in manufacturing and distribution | Competing in Foreign Markets 7 Chapter Screen graphics created by: Jana F. Kuzmicki, Ph.D. Troy State University-Florida and Western Region Chapter Roadmap Why Companies Expand into Foreign Markets Cross-Country Differences in Cultural, Demographic, and Market Conditions The Concepts of Multi-country Competition and Global Competition Strategy Options for Entering and Competing in Foreign Markets The Quest for Competitive Advantage in Foreign Markets Profit Sanctuaries, Cross-Market Subsidization, and Global Strategic Offensives Strategic Alliances and Joint Ventures with Foreign Partners Competing in Emerging Foreign Markets The Four Big Strategic Issues in Competing Multinationally Whether to customize a company’s offerings in each different country market to match preferences of local buyers or offer a mostly standardized product worldwide Whether to employ essentially the same basic competitive strategy in all countries or modify the strategy country by country Where to locate a .