2.) Imagine you were the CEO of a major company. What approach to global competi
ID: 430138 • Letter: 2
Question
2.) Imagine you were the CEO of a major company. What approach to global competition would you choose for your firm: international, multinational, global, or transnational? Why? 2.) Imagine you were the CEO of a major company. What approach to global competition would you choose for your firm: international, multinational, global, or transnational? Why? 2.) Imagine you were the CEO of a major company. What approach to global competition would you choose for your firm: international, multinational, global, or transnational? Why?Explanation / Answer
The Approach to face global competition depends largely upon its area of business, mission and vision, core competence and strengths. Each approach mentioned here has some pros and cons and as a CEO of the company I need to decide which approach will be best fit for my company.
What I follow is “think globally act locally” should be the motive while getting into international marketing. Therefore, I would choose transnational approach. This approach is the best approach to be followed for think globally act locally approach. Here the research and development activities will be centred to the parent company and other functions will be carried out by the subsidiaries in any part of the world. They can have the location of parent company anywhere in the world from where information can be exchanged easily and all the resources to carry out production activities are available. This approach combines both multinational and global strategies and helps the organization gain more with the optimum efforts.
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