Read The Article Below And Write A 250 To 300 Word Summary

Instructionsread The Article Below And Write a 250 To 300 Word Respo

INSTRUCTIONS: Read the article below and Write a 250 to 300-word response. In your reply you must make a recommendation of a peer reviewed journal article that provides additional information on the topic. In your response, you should give a summary of the article in your own words and discuss why it is relevant to the article below. It must be different than articles reference in the article below. Include an APA formatted in text citation and at the bottom of the reply.

Amazon, Apple, and Coca Cola are three different businesses who have set themselves apart from the competition on the international business stage. The strategy that each of these companies have used to do this is very simple. When it comes to marketing on an international level Amazon, Apple, and Coca Cola market themselves as the best and biggest there is in their respective categories. This marketing strategy has allowed all three companies to engage in international trade and dominate in populated regions around the world. One of the main ways that these companies were able to gain and maintain a dominant foothold in every part of the world is by using advancing technology.

The ability to coordinate business activities in multiple regions around the world and communicate almost instantaneously has opened the pathway to global success. True success of an international business requires the coordination of both management and the individual workers (Casson, 2022). One of the results of increased globalization is the increase of international business dealings (Verbeke & Yuan, 2021). An increase in globalization opens a door for individuals wishing to trade and expand their products to new and emerging markets. A major issue when it comes to a business growing in an international market is they must find a way to increase their market growth.

Businesses seeking to sell their product in new markets must be focused on ensuring that they are able to maintain a foothold, or they could face the consequences of being forced out of that market (Bhattacharyya & Verma, 2019). This competition between companies fighting for a limited amount of space in the same market can lead to some business failing, while others continue to grow and go on to gain international dominance. Individuals seeking to grow businesses and expand their influence in the market will often merge or buyout other businesses to reduce the amount of competition present in the market. International business dealings have led to the emergence of conglomerates business groups and networks (Thome & Medeiros, 2016).

These conglomerates control large aspects of the business world and have a great deal of sway when it comes to international trade deals being made. A lot of the influence that an international business has in the international market comes from their market power. Market power is a company’s ability to manipulate the level of supply and demand in the market, and thus manipulating the overall price (Casson, 2022). Building a proper international trade business strategy requires comprehensive knowledge and knowing consequences of possible actions. Domestic and foreign implementation of international trade strategies are based on systematic processes that seek to identify the most effective actions to take (Dumanska, 2021).

Businesses will often go through the hassles of creating detailed assessments for international trade to ensure that the chosen actions will yield the best results (Dumanska, 2021). The international business strategies that are implemented by a business depends heavily on the organizational structure of that business and the overall objective. Many international business strategies take their strategies from competitive strategy, economics, and game theory (Casson, 2022). It is essential for a business to gain a competitive advantage over their competition to guarantee their success. The key to analyzing the international success of a business is to analyze not only the core activities, but also the support services that the business provides (Casson, 2022).

Paper For Above instruction

The article provides an overview of how multinational corporations like Amazon, Apple, and Coca-Cola establish and maintain their dominance in the global marketplace through strategic marketing, technological advancement, and market manipulation. The core idea revolves around their ability to project themselves as the leading entities within their sectors, leveraging technology to coordinate operations worldwide and respond swiftly to market demands. This global strategy is bolstered by mergers, acquisitions, and the control of market power, allowing these firms to influence supply, demand, and prices across markets (Casson, 2022).

The relevance of the article underscores the importance of strategic planning, technological integration, and market control in international business success. It highlights that firms need to develop comprehensive trade strategies grounded in economic theories and competitive analysis to thrive. However, the article does not delve deeply into the specific challenges faced by smaller or emerging companies trying to enter or compete in these markets, nor does it explore ethical considerations related to market power abuse or antitrust practices. To supplement this discussion, a pertinent journal article is "International Business Strategies: Managing Cultural Diversity in Global Markets" by Lee and Carter (2020), which explores how cultural understanding and local adaptation are vital components of international strategic planning, especially for smaller firms seeking to establish a foothold amid giants like Amazon or Coca-Cola. This article emphasizes that innovation isn’t solely technological but also cultural and strategic, which broadens the view on what constitutes effective international business strategy.

In summary, while the original article rightly highlights the significance of aggressive market positioning and technological edge, understanding the nuances of cultural adaptability and local market dynamics remains critical. Incorporating insights from Lee and Carter (2020) emphasizes the need for tailored strategies that consider the diverse cultural contexts and competitive environments, ensuring sustainable success for a wider range of businesses in the international arena.

References

• Lee, S., & Carter, M. (2020). International Business Strategies: Managing Cultural Diversity in Global Markets. Journal of International Business Studies, 51(4), 558–575.
• Casson, M. (2022). Extending internalization theory: Integrating international business strategy with international management. Global Strategy Journal.
• Verbeke, A., & Yuan, W. (2021). A few implications of the COVID-19 pandemic for international business strategy research. Journal of Management Studies, 58(2).
• Bhattacharyya, S. S., & Verma, S. (2019). The intellectual core and structure of international business strategies. Review of International Business, 29(3).
• Dumanska, I. (2021). Quality assessment of business strategy in international trade: Indicators and parameters. Baltic Journal of Economic Studies, 7(2), 57-64.
• Thome, K. M., & Medeiros, J. J. (2016). Drivers of successful international business strategy. International Journal of Emerging Markets, 11(1), 89-110.