After Identifying An Organization's Mission, Goals, And Core

After Identifying An Organization's Mission Goals And Core Competenci

After identifying an organization's mission, goals, and core competencies, an organization formulates a strategy. Strategy is defined as the set of planned actions taken by managers to help a company meet its objectives. International strategies can be either multinational—adapting products and marketing to suit individual national or regional preferences—or global—offering the same products in all national markets. There are three different business-level strategies: low-cost leadership (having the lowest cost structure of any competitor in an industry), differentiation (designing products that are seen by customers as unique), and focus (serving the needs of a narrowly defined market segment by being a low-cost leader, having a differentiated product, or both).

Consider and discuss the following questions involving international strategy:

• Identify two products that you have used or consumed within the last 24 hours that are produced by an international company. For each, specify the company behind the product. What strategy does the company employ—the low cost, differentiation, or focus strategy? Explain in detail how you arrived at your answers and decisions.
• Choose one of the two companies identified above. Locate the company's annual report online. What is the company's mission statement or overriding objective? In which countries does it produce and market its products? Does the company standardize its products globally or adopt a multinational approach by adapting products for different markets?
• Consider how advancements in technology influence or change this company's approach to product structuring and marketing.
• Provide your opinion on whether the company's strategies are effective. What recommendations would you make or what changes might improve the company's strategic performance?

This assignment relates to information in your textbook and additional research. Include a cover page and a reference page. Write your answers in complete sentences, supporting your responses with information from your readings and research. Avoid copying directly from sources to prevent plagiarism. All responses should be written in your own words.

Furthermore, consider how operations and production management impact business strategy through frameworks such as Total Quality Management (TQM) and International Standards Organization (ISO) 9000. Briefly describe the main principles of TQM and ISO 9000, and explain how these standards help international companies develop world-class operational standards. Additionally, address obstacles small and medium-sized businesses face when expanding globally, particularly in recruiting and selecting employees, considering factors such as financial constraints, lack of contacts, cultural differences, legal issues, and geographic challenges.

Paper For Above instruction

In the contemporary global economy, organizations are increasingly conscious of how their strategic formulations can leverage international opportunities while navigating complex regional environments. The essence of strategic planning involves understanding the core mission, goals, and competencies of a company to establish effective strategies that can sustain competitive advantage across borders. This paper explores the application of international business strategies through real-world examples, the influence of technological advancements, and operational management practices such as TQM and ISO 9000, alongside the challenges encountered by smaller firms in global expansion.

Identification and Analysis of International Company Strategies

Within the last 24 hours, I consumed two products that originate from international companies. The first was a bottle of Coca-Cola, produced by The Coca-Cola Company, and the second was a pair of Nike sneakers, manufactured by Nike Inc. Analyzing Coca-Cola’s global operations reveals it employs a standardization strategy primarily based on a global marketing approach. Coca-Cola’s branding, product taste, and packaging are largely uniform worldwide, aiming to deliver a consistent customer experience regardless of geographic location (Kotler & Keller, 2016). This approach emphasizes efficiency and brand recognition in diverse markets, driven by a global strategy that minimizes local adaptation.

Conversely, Nike adopts a differentiation strategy, emphasizing innovation, design, and branding tailored to regional preferences. Nike’s marketing campaigns often feature local athletes and cultural themes, aiming to resonate uniquely with regional audiences (Hitt, Ireland, & Hoskisson, 2017). Nike's product variations—such as sizing, styles, and sometimes even materials—indicate a multinational approach, adjusting aspects to fit specific markets while maintaining global branding standards.

Corporate Mission and International Presence

Focusing on Nike, its annual report states its mission as "to bring inspiration and innovation to every athlete in the world." Nike operates in multiple countries across North America, Europe, Asia, and other regions, manufacturing its products through a mix of wholly owned subsidiaries and contracted suppliers. Nike’s strategy blends standardization with adaptation, though its core products—footwear and athletic apparel—are generally standardized globally, with regional tweaks to accommodate local consumer preferences and cultural nuances (Nike, 2023). This multinational strategy enables Nike to leverage economies of scale while also appealing to specific regional tastes.

Impact of Technology on Business Strategy

Technology profoundly influences Nike’s strategic approach, especially in product development and marketing. The advent of digital design tools and virtual prototyping enables Nike to accelerate innovation cycles and respond swiftly to market trends. Moreover, digital marketing channels, including social media and e-commerce platforms, allow Nike to reach targeted audiences efficiently and gather real-time customer feedback. Technological integration into supply chain management, such as IoT and data analytics, also enhances operational efficiency, reduces costs, and supports customization efforts. These technological strides not only streamline Nike's global operations but also reinforce its brand’s relevance and agility in a competitive landscape (Porter & Heppelmann, 2014).

Assessment and Recommendations

Overall, Nike’s strategic model appears robust, supported by its innovative product offerings, strong global brand, and technological integration. However, the company could further enhance its strategies by increasing local responsiveness in emerging markets where consumer preferences can vary significantly. Investing in regional innovation hubs or localized product lines might strengthen Nike’s appeal and expand market share. Additionally, increasing transparency in supply chain practices could bolster Nike’s reputation amidst rising consumer demand for ethical production. Implementing more advanced data analytics for personalized marketing could also further improve customer engagement and loyalty.

Operations and Operational Standards: TQM and ISO 9000

Effective operational management is vital for maintaining competitive advantage, especially for international firms. Total Quality Management (TQM) principles encompass a customer-focused approach, continuous improvement, and employee involvement. TQM emphasizes preventing defects through process enhancements, encouraging a culture of quality at all levels of the organization (Evans & Lindsay, 2016). On the other hand, ISO 9000 standards provide a formalized quality management framework focused on consistency, documentation, and process control, facilitating international trade through a universally recognized certification (ISO, 2015).

Both TQM and ISO 9000 assist companies in establishing world-class standards by promoting process standardization and continuous improvement. They enable organizations to deliver products and services that meet or exceed customer expectations consistently, which is particularly crucial when operating across borders where quality expectations can vary. These frameworks also foster a culture of accountability and operational excellence, key for achieving sustainable international growth.

Challenges in International Employee Recruitment

Expanding into international markets presents notable challenges in recruiting and selecting employees. Small and medium-sized enterprises (SMEs), in particular, face obstacles such as limited financial resources, which restrict candidate outreach and training programs. A lack of local contacts and networks hampers effective talent sourcing, often leading to reliance on expatriate staff, which can be costly and culturally misaligned. Cultural differences influence recruitment practices, communication styles, and expectations, requiring organizations to develop culturally sensitive hiring frameworks to attract suitable candidates. Legal issues, including visa restrictions, labor laws, and employment regulations, further complicate international recruitment. Geographic barriers also impact the ability to coordinate across diverse locations, potentially leading to delays and miscommunications. Addressing these obstacles requires strategic planning, local partnerships, and investment in cultural competence training for HR personnel (Koch, 2017).

Conclusion

Strategic formulation is essential for international success, encompassing understanding customer preferences, leveraging technological advances, and operational excellence. Companies like Nike exemplify adaptive strategies blending standardization with regional customization, supported by technology and quality management standards. Concurrently, overcoming HR challenges in new markets demands tailored approaches, cultural awareness, and legal compliance. Future growth will depend on firms’ ability to integrate these strategic and operational elements effectively in an increasingly interconnected world.

References

• Evans, J. R., & Lindsay, W. M. (2016). An Introduction to Quality (3rd ed.). Cengage Learning.
• Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic Management: Concepts and Cases. Cengage Learning.
• ISO. (2015). ISO 9000 Quality Management Systems. International Organization for Standardization.
• Koch, T. (2017). Challenges facing SMEs in global markets. International Journal of Business Strategy, 23(4), 410-421.
• Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
• Nike. (2023). 2022 Annual Report. Retrieved from Nike corporate website.
• Porter, M. E., & Heppelmann, J. E. (2014). How smart, connected products are transforming competition. Harvard Business Review, 92(11), 64-88.