Global strategic Management Essay Example | Topics and Well Written Essays - 4000 words

Global strategic Management - Essay Example Due to innovative strategic management and product development, the company has experienced a rapid growth in domestic as well as international market. The company has identified a better and potential opportunities in international markets and hence, it has entered into major markets of Asia, Europe, Middle East etc. In the process of international expansion involves a number of issues relating to multiple macro-economic, specifically due to cultural diversity. Besides, the industry forces of is also prominent for determining the attractiveness of the industry. Industry for packaged gas and chemical manufacturing has a great economic importance as it offers very vital raw materials to other industries. The global gas and chemical manufacturing industry is becoming very competitive with increasing opportunities. However, the overall industry competition is quite attractive as higher availability of consumers comparing to international organisation. To cater the international market A ir product must use its strengths to counter the underlying opportunities. In this process, the foremost task is to identify the multiple factors influencing international business and the major factors are external forces (political, culture, market trend, geographic features etc) and consumer behaviours. Air product must assess these factors for framing proper strategies. However, the core organisational strategy should support international strategy and Air product must develop distinct strategy for each country. To identify the strategic direction for international market, it can use the nine strategic windows. Marketing mix should also be considers the feature of prevailing international market. The glocalisation strategy should be core essence of global strategic management and hence, it should acts as local company in international market with the international standards. To meet short term and specific aims, the functional strategies should focus on understanding the culture of the market and consumers. Moreover, it also needs to comply with legal frameworks to avoid the country related risks. 2. Introduction There have been significant changes in the nature of trade and business activities. The Industrial Revolution of 18th century can be considered as the first occurrence that changed the thought process of the entire world regarding industrialization. People and world economies have realized that industrialization is one of the most crucial tools for bringing economic and social developments within a country. In order to encourage industrialisation, economic policy makers have to take necessary initiatives so that people can use their entrepreneurial and productive skills. Besides, industrialization also requires multiple resources like labour, capital, materials etc and many countries are not self sufficient in this respect. Therefore, the world economies are inter-dependent on each other for their own benefits i.e. domestic market