Luthans and Doh (2012) discuss four imperatives, which serve as common approache
ID: 408031 • Letter: L
Question
Luthans and Doh (2012) discuss four imperatives, which serve as common approaches to formulating and implementing international strategies. Select the imperative that you feel will function most effectively within an industry of your choice. Or, describe how a combination of two or more imperatives could contribute to the formulation and implementation of international strategies. How would you approach formulation and implementation within the industry of your choice?
Your response should be at least 400 words in length.
Explanation / Answer
the four imperatives they discussed are Economical imperative political imperative, social imperative and legal imperative.
economic imperative says about the importance of financial stability of a firm. to survive in the market and to run its operations, business firms have to have strong financial position. otherwise they may not run succesfully for a longer period. so firms have to be get stonger financial position to run for longer periods. it helps the firms in the area of sustainable development.
Companies that best integrate sustainability into business decisions will have greater economic performance. This means killing environmental sustainability initiatives with poor economic returns and eliminating social initiatives that ignore adverse environmental or economic impacts. When you hit the sweet spot – the intersection of all three, the economics of the project equal or exceed benchmark investment thresholds, environmental impacts are reduced, and social networks relevant to your company, its employees, and society are strengthened.
Deciding when to fund conservation projects is easy. Projects that reduce packaging without increasing losses drive unit costs down. Water and energy used more efficiently lowers costs and has social value (e.g. air emissions are reduced). In both cases, simply assess the cost for proposed changes versus the projected payback. It is not unusual to see returns of 20 to 30+ percent when implementing less wasteful practices, so all companies should have sustainability-based resource conservation programs. Increasing resource efficiency by several percent per year, while waiting for the economy to rebound, creates competitive advantage. In these times of economic turbulence, companies that derive advantage by embedding environmental efficiencies not only into operations but into the culture of the company will find themselves outpacing the competitors who still view these changes as merely a response to regulation or short term fixes.
political imperative says about the existed political conditions in the nation and how the existing political system helps the business in long run. if the nation is suffering with political uncertinty or risk, in those nations it is not good to establish business activities. so, while choosing a business place, it is most important to know the political system and its changes in future.
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