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Strategic Visioning in International Market

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  • Unit No: 0
  • Level: High school
  • Pages: 5 / Words 1298
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Table of Content

  1. Introduction

Introduction

Strategic vision has global experience of developing tools to measure human behaviour, decision making and perceptions (Honig, 2004). It is well understood that comprehensive theory of human behaviour creates efficient strategies for effective decision making in business development and communication in many fields. This report is prepared for the purpose of understanding problems that global businesses face while exploiting international business opportunities.

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McDonald at the global level

Organization that operates in the global market faces many difficulties on regular basis. The firm faces many problems such as ethical issues, technological, economic, social and political issues depending on the nation in which organizations are establishing their business (Meixell and Gargeya, 2005). McDonald is an international restaurant chain and has businesses in many countries. The firm is still growing at incredible rate at the global level. The firm is under a tremendous stress while dealing with different cultures and environmental factors of establishing restaurant chain in various countries. In global environment, every country possesses different food habits and preferences depending on their culture and religion. Organization is required to design its products and services according to the culture of the market in which they are entering. It is very difficult for the business to compete at the global level. There is a need to perform high level of research and development activities. It is evident that research of the market is essential before taking an entry into it. There are many differences within the demographic conditions of different nations. It is because people belong to different culture and ethnic backgrounds. Their choice of consumption of products depends on their behaviour and social factors.
For instance, McDonald has built its global empire based on the consistency of its products such as fries, burgers and sandwiches, etc. Since the origin of firm is from US, the burgers and sandwiches were made of beef and pork. However, while entering business in India, firm has changed its beef burger to veg potato burger. Similarly, in Islamic countries also, the firm was facing issues related to cultural and social factors (Sekaran, 2006).

Samsung at the Global Level

Moreover, Samsung's smartphone business was also struggling while exploring international markets. People were dissatisfied with the services and prices of Samsung. However, its competitors were taking the benefits. However, while entering Smartphone business in an economic country like India, the sales of firm was in poor condition. It is because generally the Indian consumers are highly price conscious. Their purchase decisions are very concentrated and attentive. Responding to that firm implemented the idea of bringing economic phones in the country (Zikmund, Babin, Carr and Griffin, 2012). However, now Samsung has product range for all customer segments in India and business is profitable and in stable condition.

Pestle Analysis

Similarly, the firm uses different strategies in every country based on their social and economic factors. Thereby, while exploring business globally, the organizations should analyse all the political, economic, social, technological, legal and environmental factors through PESTEL analysis. PESTLE is a strategic tool to analyse all the factors that affect the businesses. These factors are as follows:

Political

For all the global businesses, it is very important to analyse current regulations of country (Seelos and Mair, 2005). The analysis of political factors can reveal the restrictions of market structure. The political factors of country include country's law's taxes, structure and policies, etc. For instance, global country like Brazil has high import and export duties to defend its economy. However, some countries have low import and export duties but high tariffs in other sectors. Thereby, global businesses must analyse these factors while exploring international market oppo

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