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Week 7 Reflection and Discussion
Students Name
Institution
Course
Instructor
Date
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Week 7 Reflection and Discussion
Reflection
This week’s readings on chapter 7 has enlightened me on various
aspects about international strategy which are very essential. I have
discovered that international strategy focuses on production of goods and
services for foreign use or the importation of goods and services for domestic
use (Dess et al., 2021). This strategy is very crucial because it promotes an
increase in brand recognition besides it helps in the diversification of
businesses. An increase in market share and economies of scale is also
experienced due to the expansion of business beyond its home country (Dess
et al., 2021).
Notably, I have realized that there are multi domestic, global and
transnational international business strategies. Multi domestic strategy refers
to a strategy that aims at customizing products or processes to the specific
conditions of each country rather than taking a more global approach (Dess et
al., 2021). Thus, it ensures that the local customers feel special and
appreciated. This helps in promoting a business growth because a business is
able to improve its competitive advantage due to the connection created
between the business and the customers.
Global strategy refers to a strategy used by a business in order to
expand its operations to the global market. The purpose of using global
strategy is to increase sales globally. Global strategy enables businesses to
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appreciate and capitalize on the competitive opportunities worldwide thus
promoting their growth (Dess et al., 2021).
Additionally, transitional strategy refers to a plan used by businesses
that wish to conduct their operations across international borders. It enables a
business to be connected overseas besides it prioritizes global standardization
and efficiency. Graduate Response
The objectives of every business is prosperity. Thus, all business
should adopt effective strategies so as to remain competitive and sustainable.
Furthermore, doing businesses globally has been made easy due to the
decrease of entry barriers for small businesses that wish to diversify by the
internet (Dess et al., 2021). Hence, there is a wide range of opportunity for the
growth of these business at any country of their choice provided they have
what it takes to grow and become profitable. Additionally, this businesses can
easily access information about the market conditions, the products and
services that are in demand and also customers’ needs and preferences. Thus,
they can decide on the type of products to produce and the customers to target
in order to compete effectively. For example, a business that wishes to grow
can research on the well performing businesses in order to realize what they
prioritized so as to promote their prosperity (Dess et al., 2021). This will help
this business do analysis on what is required. Additionally, access to the
distribution channels with lower capital costs have also been promoted besides
access of all information has led to the realization of cultural differences in
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purchasing decisions such that a business is able to realize which group to
target. For example, many businesses are installing CCTVs in their shelves in
order to realize what customers prioritize most in their purchasing. This helps
in realizing what encourages their purchasing decisions.
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Reference
Dess, G., McNamara, G., Eisner, A., Lee, S. H. (2021).Strategic
Management: Creating Competitive Advantages (10th edition).
McGraw-Hill Higher Education.

Unformatted Attachment Preview

1 Week 7 Reflection and Discussion Students Name Institution Course Instructor Date 2 Week 7 Reflection and Discussion Reflection This week’s readings on chapter 7 has enlightened me on various aspects about international strategy which are very essential. I have discovered that international strategy focuses on production of goods and services for foreign use or the importation of goods and services for domestic use (Dess et al., 2021). This strategy is very crucial because it promotes an increase in brand recognition besides it helps in the diversification of businesses. An increase in market share and economies of scale is also experienced due to the expansion of business beyond its home country (Dess et al., 2021). Notably, I have realized that there are multi domestic, global and transnational international business strategies. Multi domestic strategy refers to a strategy that aims at customizing products or processes to the specific conditions of each country rather than taking a more global approach (Dess et al., 2021). Thus, it ensures that the local customers feel special and appreciated. This helps in promoting a business growth because a business is able to improve its competitive advantage due to the connection created between the business and the customers. Global strategy refers to a strategy used by a business in order to expand its operations to the global market. The purpose of using global strategy is to increase sales globally. Global strategy enables businesses to 3 appreciate and capitalize on the competitive opportunities worldwide thus promoting their growth (Dess et al., 2021). Additionally, transitional strategy refers to a plan used by businesses that wish to conduct their operations across international borders. It enables a business to be connected overseas besides it prioritizes global standardization and efficiency. Graduate Response The objectives of every business is prosperity. Thus, all business should adopt effective strategies so as to remain competitive and sustainable. Furthermore, doing businesses globally has been made easy due to the decrease of entry barriers for small businesses that wish to diversify by the internet (Dess et al., 2021). Hence, there is a wide range of opportunity for the growth of these business at any country of their choice provided they have what it takes to grow and become profitable. Additionally, this businesses can easily access information about the market conditions, the products and services that are in demand and also customers’ needs and preferences. Thus, they can decide on the type of products to produce and the customers to target in order to compete effectively. For example, a business that wishes to grow can research on the well performing businesses in order to realize what they prioritized so as to promote their prosperity (Dess et al., 2021). This will help this business do analysis on what is required. Additionally, access to the distribution channels with lower capital costs have also been promoted besides access of all information has led to the realization of cultural differences in 4 purchasing decisions such that a business is able to realize which group to target. For example, many businesses are installing CCTVs in their shelves in order to realize what customers prioritize most in their purchasing. This helps in realizing what encourages their purchasing decisions. 5 Reference Dess, G., McNamara, G., Eisner, A., Lee, S. H. (2021).Strategic Management: Creating Competitive Advantages (10th edition). McGraw-Hill Higher Education. Name: Description: ...
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