ARBUS301 Study Guide - Final Guide: Business Process Outsourcing, Global Value Chain, Global Sourcing

• School: University of Waterloo
• Department: Arts and Business
• Course: ARBUS301
• Professor: Mark Arnason

Document Summary

A planned set of actions that managers take to (cid:373)ake (cid:271)est use of the fir(cid:373)(cid:859)s resour(cid:272)es a(cid:374)d (cid:272)ore (cid:272)o(cid:373)pete(cid:374)(cid:272)es to gain a competitive advantage. Analyze fir(cid:373)(cid:859)s unique abilities, primary activities, firms support activities and national and international business environment: formulate strategies. Businesses must decide : where the(cid:455)(cid:859)re goi(cid:374)g to pla(cid:455, how are they going to win, how they can leverage their strengths to the greatest advantage. Choosing a market outside their home country, they need to create a predominantly global (standardization) or multinational (adaptation) strategy. Make and sell standardized products and services to capitalize on converging customer needs and tastes. Compete on a regional or worldwide basis. Adjust offerings, marketing and practice to conditions in the individual market. Ability to portray a consistent image and build global brands. Achieve greater success in combating customer resistance. Four strategies emerging from the standardization-adaption framework: home replication strategy more likely in multidomestic industry.