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STR 581 W1 Approaches to Global Strategy

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Approaches to Global Strategy 1
Approaches to Global Strategy
University of Phoenix
International Strategic Planning and Implementation
STR/GM581

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Approaches to Global Strategy
The purpose of this paper is to discuss the fundamental aspects of Riordan Management’s
strategic management procedures in expanding the business globally. This document will analyze
the strategic management process and the steps associated.
“Riordan Manufacturing was founded in 1991 with prizes patent of the transformation of
the substrate plastic strong polymers with a basis of 550 employees and a $46 million projected
revenue, (University of Phoenix, 2009).” Riordan Manufacturing produces parts for cars,
aircrafts, and more. The company recently has suffered some strategic changes in the production
and marketing areas.
Strategic Management Process
A strategic management process consists of four elements: analysis, strategy
development, implementation strategy and evaluation strategy. Companies need to develop a
strategic plan for the management of these measures, if necessary, make changes, and
improvements, (Coulter, 2005).
The analysis is the first step in the process of strategic management. The analysis
provides information required to create the company mission. This analysis can be performed in
different ways; these methods include monitoring and communication.
The strategy development strategy is necessary to help define the forces. These are
divided into operational and competitive strategy levels. These include short-term operational
strategies and business operations, human resources, finance, marketing and production
depending on a variety of sections.

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The implementation strategy includes the development methods and procedures
necessary based on the priority of the issues.
The evaluation strategy aims to learn about strategy and how to fix any issues on the
previously established strategy. This step is in control of the performance measures and
procedures to be performed correctly and the need to determine what the deadlines, and the
results will be.
Domestics and International Approaches
In this case I have chosen to compare the Asian market with the Latin American one.
Companies like this use the most effective use of historical data to predict the market cycle based
on historical trends. First the company must collect data on sales prices and volumes of the
industry in Asia, with this data the company will be able to predict the marketing potential of
cars within the next years.
The Asian market is very popular for their technological advances and popular brands
imported to the United States. This country bases most of their sales on exportations across the
world. Their product exportation adds up to 90% of their sales. Exports to Latin America do not
exceed the 10 million dollars.
The Latin American market is very similar to the one in Asia, the difference can be found
in the market size and buying trends. Brazil’s 18% of industrial production is attributed to the
Asian industry. This has raised the country’s GDP to an outstanding 5.4. The industry has a big
concern in the rising tax rates and wages for workers according to the appreciating currency; this
can cause Brazilian products to be less competitive than other markets internationally. By year
2007 Brazil’s domestic sales added to a 2.46 million.

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