Global Perspective Presentation

Overview and Insights

A business strategy: A strategy means a plan of action that is aimed at achieving certain goals in the short and in the long run. In such, business strategy could be defined as the set of plans that business managers, owners, leaders, and operators develop in order to attain business goals. What is the ultimate business (any business) goal? Profits! More and more profits.

So, how do international businesses generate those profits in a world that has diverse markets, factors of production, preferences, tastes, barriers, regulations, economic development, belief systems, and political structure? How to go there and what to bring with you? Or what to send there and what to get from there? How do you do what you need to do there and lower your production costs? The answer to those questions depends on the structure and the content of the business strategy.

A couple of key strategies to consider:

The global standardization strategy: it focuses on using the same design, shape, look, components, and ingredients of the product for all its markets. This leads to lower operating costs and, thus, leads to higher profitability.
The localization strategy: rather than following the “one size fits all” approach, this strategy aims to achieve profitability by focusing on customizing the product and/or services that better fit the target market. It takes into consideration various market traits, such as taste, preference, income, demographic distribution, customer behavior, and cultural preferences or barriers, when designing and/or introducing a product.

Assignment Description

Pick two businesses or organizations that operate internationally (multinational corporations, businesses, organizations, or entrepreneurs) where one uses a standardization strategy, and the other uses a localization strategy. Then briefly evaluate the difference in both approaches, and provide a recommendation for profit growth.

Narration: You are highly encouraged to narrate your PowerPoint slides and add your voice and energy to your presentation.

Answer Preview for Global Perspective Presentation

APA

300 Words