Strategic Planning Essay - Free Essay Example

Sample details Pages: 4 Words: 1305 Downloads: 10 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? Strategic planning, a necessary tool to aid in the strategic decision making process of a firm covering long range of time. The process involves managing resources efficiently and analyzing the environmental threats and opportunities as well as the strength and weaknesses of the firm (Lorange, 1978). This essay will explain and disagree with the statement that the only difference of strategic planning in domestic and international markets are the currency and language difference. For an MNC to be headquartered globally, its strategy has to take into account many other factors but the essay will discuss only about how the firm’s resources are allocated and the economical-cultural-political forces in the macro environment that affect them. A firm has to deal with the allocation of resources internationally in order to exploit the opportunities and threats into its advantage. If the targeted market is saturated with potential new entrants, existing internat ional competitors, and substitute players, fierce competition and low profits are to be expected. Resources are scarce and they are required to support and sustain attacks from competitors. Furthermore, they have to monitor the country’s economic state such the consumption power including its interest rate which is critical to borrowing funds locally for investment. These factors are important when deciding whether to expand into foreign markets or not. For firms introducing their domestic matured product internationally, the product life cycle will be different from one country to another. Accordingly, investment can be modified and market share can be dominated more efficiently. Therefore, economically, strategies need to be low-risk, high value and sustainable. Hamel and Prahalad, in their work, described the strategies used by foreign MNCs when competing against each other. When a global firm uses financial resources of one subsidy to fight a competitor in another s ubsidy, it is pursuing a cross-subsidization strategy. When a firm competes with a larger competitor, it is not enough that it is financially equipped. It needs to funnel resources globally back to the defending market or raise them locally if cross-border movements are hindered by exchange risk or regulations. However, caution is needed to ensure that the firm’s borrowing needs are not revealed as it can lose strategic competitive surprise. One scenario was â€Å"thrust and parry† which uses cross-subsidization when an aggressive MNC attack another MNC in its domestic market, the defensive MNC retaliate by targeting a market where its aggressor is most vulnerable with least cash flow. For example, in international tire market Michelin used its strong European profit base to attack Goodyear’s American home market. Goodyear, retaliated back in European instead of in US market because Michelin would expose only a small amount of its worldwide business in US wit h very little to lose. Goodyear, on the other hand, would sacrifice margins in its largest market. Firms have to choose between the cost effectiveness of off-shore sourcing their production and the competitive effectiveness based on the ability to retaliate in competitor’s key markets. The main concept here is not to sell at price lower than the market’s but rather to squeeze the competitor’s margins just enough to dry up its attacking strategy to force its expansion down. Price level difference may provide not only the means but also the motivation for cross-subsidization. Competitiveness due to labor cost and scale advantage itself is vulnerable since labor costs change due to development of economies or exchange rate fluctuate. Low cost manufacturing locations change, from Japan to Korea, Thailand to China as well as scale-based cost advantages change, particularly due to manufacturing technology. Here, resources not only refer to monetary aspects but a lso human capital of the firm and its knowledge. Firms with enough skilled workforce and management skills can create transfer their learning effects from domestic to their international subsidiaries and if these skills are unique, they can become the firm’s competitive advantage. For example, America’s Silicon Valley host the top consumer electronics and technology research centers such as Apple and Intel, meaning the attractiveness of that location is its workforce’s innovative culture. While thinking of different strategies, there are external threats such as the culture shock where foreign entry are resisted due to the attitude of local employees and therefore, firms should consider quality of the workforce when strategizing new entries. In domestic market, there is no difference in culture or no ambiguity of the workforces’ average skill level. On a legal perspective, tough labor laws and union pressures may hinder the firm’s efficiency and di fferent strategic human resource management will be needed to overcome this. However, that’s not the complete picture. For example, some countries have restrictions concerning remittance of funds and some necessitates the production to be carried out domestically. So, country analysis need to be carried out to take into account factors such as corruption, political stability and the extent of tax grants before developing international strategy. Compared to domestic market, all these factors are known. Host and home country’s foreign policy may affect the strategy such as government support for threatened business if it has important interdependencies for example Mittal’s acquisition of world steel market share forced European countries’ steel manufacturers to team up and create a single brand called Arcelor. This concept of (protectionism) protecting infant industries who are not strong enough for global competition is used frequently. For example, Sony and Mitsubishi’s entry into European market alerted respective governments of a possible industry takeover. So, these governments frustrated the Japanese firms by restricting offshore sourcing or worker layoffs or closing down manufacturing plants hindering their rational production and cost advantage. This helped European firms to close down the competition and cost advantage gap. However, the Japanese had a long-term strategy and they simply partnered with willing UK firms, thus entering and capturing the European market share. Their technique was low-risk, low-profile supplier strategy which assisted in their global brand dominance. Other strategies to influence governments include information and financial incentives. Information strategy refers to lobbying the key officials to obtain special treatment or lifting entry barriers. By international trade organizations such as WTO to negotiate with foreign governments, firms can achieve their strategy more effectively . Another method is to induce policy makers through direct pressure by giving incentives. This can be regarded as unethical but in some government, this is viewed as gift giving or necessary to accelerate procedure. For example, in China, guangxi is practiced openly which means fulfilling someone’s (politicians’) needs and working alongside them in order to achieve something in return. Guangxi is not considered bribery in China as it is common and understood in the business culture. As the statement has mentioned, currency exchange problems are present when transferring funds from domestic to international markets, especially when amount is large. It is plausible for only the two mentioned difference but under certain conditions. For example, a firm exporting steel products under license from home country without any localization of products to foreign market. Then, there can be only exchange rate uncertainty for revenue transfer and communication issues with the li censee. In this way, there is no control over assets such as human resource or capital but the exported product. But these simple assumptions will not apply if domestic scoped firms are challenged by foreign competitors. They will have to play by the rules of global competition to survive and that takes into account many factors as mentioned above. In my opinion, today’s global environment is very diverse and uncertain. Strategies need to be long-sighted and the firm’s own vulnerability should be realized and taken into consideration during decision making process. Firms should expand globally and realize more market share, profits and economies of scale. Therefore, currency and language difference alone cannot prepare firms if they want to expand to international markets from domestic market. Don’t waste time! Our writers will create an original "Strategic Planning Essay" essay for you Create order

Texas Government Essay - 983 Words

The government of the state of Texas is a difficult and complicated institution that is composed of many different levels. The question comes in to everyones mind at one time or another whether or not to trust the government. It could be that people believe that the officials will take advantage of their power, or simply people dont like the idea of being controlled by someone who is not a family member or friend. To avoid this centralized power, the government is divided into stages and this is a reasonable ground for trusting the government. Government runs this state and it does deserve to be trusted. Our government here in Texas has three major parts that play a significant part in our decision making process. These levels†¦show more content†¦If issues are brought about, or arguments are carried out, then the Conference Committees are there to resolve these differences. The most common Governmental figure in Texas is the Governor. This power is nothing more than that of a celebrity status. Although the Governor has the power to appoint independent boards and commissions, the senate has to confirm these appointments. This is called senatorial courtesy What is meant when this job is more like a celebrity is because of the Governor‘s ceremonial roles as acting as Chief of State. This increases the Governor‘s popularity and prestige, and broadens the image of the office. One important power or role that the Governor is responsible for is coordinating relations between Texas and other states. This can definitely be an important factor. For example, the need of federal aid during the time of an emergency can require the help of other states. The Governor also acts as the Chief Budget officer of the state. Even though the presiding officer presides over this office, the Governor does have some control. This is a very effective example of a good trustworthy system. 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Endangered Species of South Am Essay Example For Students

Endangered Species of South Am Essay Endangered Species of South Am Essayerica Endangered species are plant and animal species that are in danger of extinction, the dying off of all individuals of a species. Over 19,000 plant species and 5000 animal species around the globe are classified as endangered, and many thousands more become extinct each year before biologists can identify them (Microsoft 1). The primary cause of species extinction or endangerment are habitat destruction, commercial exploitation, damage caused by non-native plants and animals introduced into an area, and pollution (1). Of these causes, direct habitat destruction threatens the most species. A steady rate of extinction is a normal process in the course of evolution, and is called the background rate of extinction (Lampton 14). Species have slowly evolved and disappeared throughout geological time because of climate changes and the inability to adapt to survive competition and predation. Since the 1600s, however, the rate of extinction has accelerated rapidly because of human population growth and resource consumption (17). Today, most of the worlds habitats are changing faster than most species can adapt to such changes through evolution, or natural selection. The current global extinction rate is estimated at about 20,000 species per year, exponentially greater than the background extinction rate (17). Many biologists believe that we are in the middle of the greatest mass extinction episode since the disappearance of the dinosaurs 65 million years ago (18). The survival of ecosystems (plant and animal communities and their physical surroundings) such as forests, coral reefs, or wetlands depend on their biodiversity or variety of plants, animals, and habitats, as well as the many interactions among these species. The removal or disappearance of one or several species may irreversibly damage the ecosystems and lead to its decline. For example, the undersea kelp forest ecosystems of the northern Pacific Rim are some of the richest marine habitats known they are the home or breeding ground of many species and other wildlife, such as sea otters. When the sea otter population off the western coast of Canada and the U.S. was hunted almost to extinction in the 19th and early 20th centuries, invertebrates such as the sea urchins were left without a major predator. The population of sea urchins increased dramatically and rapidly consumed the kelp and other seaweed, turning the rich ecosystem into a barren undersea terrain (Grolier 41). Conservation efforts throughout the latter half of the 20th century, such as the U.S. Marine Mammal Protection Act (1972), allowed for the protection and reintroduction of the sea otter to these ecosystems and kelp forests once thrived again (41). The irreversible loss of biodiversity has a serious impact on the ability of remaining species, including humans, to survive. Humans depend on species diversity and healthy ecosystems to provide food, clean air and water, and fertile soil for agriculture. In addition, we benefit greatly from the many medicines and other products that biodiversity provides. As many as 40 percent of our modern pharmaceutical medicines are derived from plants and animals (Fast Facts about Endangered Species 1). A small plant from Madagascar, the rosy periwinkle, produces substances that are effective in fighting two deadly cancers, Hodgkins disease and Leukemia (Newman 135). Yet the forest habitat of the rosy periwinkle is rapidly disappearing to supply firewood and farmland for the impoverished people of Madagascar, and most of the endemic species there that is, species that live nowhere else are endangered. Species become endangered or extinct for a number of reasons, but the primary cause is the destruction of habitat by human activities. As species evolve, most adapt to a specific habitat or environment that best meets their survival needs. Without this habitat the species may not survive. .u5a9b0b0eab459fc9fb1558cddb59e77f , .u5a9b0b0eab459fc9fb1558cddb59e77f .postImageUrl , .u5a9b0b0eab459fc9fb1558cddb59e77f .centered-text-area { min-height: 80px; position: relative; } .u5a9b0b0eab459fc9fb1558cddb59e77f , .u5a9b0b0eab459fc9fb1558cddb59e77f:hover , .u5a9b0b0eab459fc9fb1558cddb59e77f:visited , .u5a9b0b0eab459fc9fb1558cddb59e77f:active { border:0!important; } .u5a9b0b0eab459fc9fb1558cddb59e77f .clearfix:after { content: ""; display: table; clear: both; } .u5a9b0b0eab459fc9fb1558cddb59e77f { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u5a9b0b0eab459fc9fb1558cddb59e77f:active , .u5a9b0b0eab459fc9fb1558cddb59e77f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u5a9b0b0eab459fc9fb1558cddb59e77f .centered-text-area { width: 100%; position: relative ; } .u5a9b0b0eab459fc9fb1558cddb59e77f .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u5a9b0b0eab459fc9fb1558cddb59e77f .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u5a9b0b0eab459fc9fb1558cddb59e77f .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u5a9b0b0eab459fc9fb1558cddb59e77f:hover .ctaButton { background-color: #34495E!important; } .u5a9b0b0eab459fc9fb1558cddb59e77f .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u5a9b0b0eab459fc9fb1558cddb59e77f .u5a9b0b0eab459fc9fb1558cddb59e77f-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u5a9b0b0eab459fc9fb1558cddb59e77f:after { content: ""; display: block; clear: both; } READ: The Fall Of Communism In Russia Essay Pollution, drainage of wetlands, conversion of shrub lands to grazing lands, cutting and clearing of forests, urbanization, coral reef destruction, and road and dam construction have destroyed or seriously damaged available habitats (Microsoft 2). Habitat fragmentation has caused plant and animal species in the remaining islands of habitat to lose contact with other population of their own kind. This reduces their genetic diversity and makes them less adaptable to environmental or climate change (Lampton 21). Since the 1600s, worldwide commercial .

Mobile Applications Essays - Technology, Computing,

Mobile Applications CIS 207 Mobile Applications Mobile applications have changed the way the world functions. First it started with the IPhone, opening the market for mobile applications. Then Android broke though into the world, offering the developing options and root users. These options allow us to change the look and feel of our smart phones. In this paper we are going to talk about a few different mobile applications and how they changes how we communicate, how we balance our budget, and how we get though the world today. Communication though the years has changed. First there was the written letter. Then there was the telephone, no longer bound by time to talk to our closest friends. After years of talking though the wire we cut it. That became the first cell phone, big and clunky we became mobile. As the year passed mobile web and text messaging came to reality. This was the break though the world needed to move into mobile business. This allowed us to constantly stay in touch with family and coworkers. Yet again as time ticked away social media came into play not only were we able to stay connected with friends and family, we began creating new circles of friends. Sharing pictures with the world. This has changed the face of how we communicate in the new world. A budget is an important aspect of life now days and thanks of mobile web applications, we are able to track our spending better than ever. Starting with mobile banking we can see our transactions, pay our bills and even deposit checks. The there came mint.com. This extremely sophisticated app allows us to create budget, track our spending, and even give us suggestions on how to spend and invest. With these new applications we are becoming better spenders, and moving into a better brighter future. With the new technology today, we are moving around this world in a new way. We went from maps to car GPS, and now we have mobile navigation. We are no longer bound to finding places and people by car. The navigation on our smart phone now allows us to walk, bike, bus, and drive to the places we want to go. As well and now we can track friends and family movements. With a press of a button we can know where people are in an instant. Moving into a new age this allows us if we choose, to live a healthy life style. In the golden age of technology we are communicating without boundary's, with text messaging, and social media. We are saving and spending better with mobile banking, and budget planning with mint.com. As well moving better and staying fit with mobile navigation. With this age of technology, there are always new innovative technology coming out. Lets hope they are just as great as what has come out in the past 15 years.