Global Corporate Strategy Solved Assignment (Doc)

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GLOBAL CORPORATE STRATEGY
CONTENTSINTRODUCTION.................................................................................................................................1OVERVIEW OF BITCOIN...................................................................................................................1Mission, vision and values.................................................................................................................1Size and geography............................................................................................................................1BUSINESS STRATEGIES OF BITCOIN.............................................................................................2Strategies adopted..............................................................................................................................2SWOT analysis of Bitcoin.................................................................................................................2Sustainable competitive advantage of the firm..................................................................................3Resources and capabilities for achieving success in Iran’s market....................................................3OPPORTUNITIES FOR BITCOIN TO ENTER IN IRAN...................................................................4PESTEL analysis...............................................................................................................................4Competitive analysis (Porter’s five force model)...............................................................................5Existing resources and capabilities of Iranian market........................................................................5Strategies for the new market (Blue and Red Ocean)........................................................................6RECOMMENDATION ABOUT THE ROUTE OF ENTRY IN IRANIAN MARKET.......................6Different entry routes present for the company..................................................................................6Justification of the choice of route of entry........................................................................................7CONCLUSION.....................................................................................................................................8REFERENCES......................................................................................................................................9
INTRODUCTIONNow, the global business environment is becoming more intense as well ascompetitive for the firms desiring to operate at the international level. It is really problematicand strategically challenging to sustain a competitive edge in the market and earn revenue.Companies planning to expand globally is required to have effective global business strategyin order to achieve success in the foreign nation (Hill, 2012).Concerning this, the presentresearch report also deals with evaluating the global corporate strategy of a newcryptocurrency i.e. Bitcoin an electronic form of cash being managed by the domain calledBitcoin.com. They are planning to enter into a new market of Iran.The report will focus onthe strategies of the firm in its home nation, its resources and capabilities and will throw lighton attractiveness of the Iranian market. External and internal analysis of the firm to operate inthe market of Iran will be performed and various routes of entry will be discussed as astrategic advisor of the company.OVERVIEW OF BITCOINMission, vision and valuesBitcoin.com is a domain working for making simpler and better for everyone. It dealswith Bitcoin, which is a digital currency being developed in the year 2009. It is beingfollowed by the ideas being set out in a white paper through an unknown person SatoshiNakamoto, whose identity is not being verified yet. Further, it provides a promise to peoplethrough decentralized authority other than government issued currencies. Money matters toall human beings whether it is in the form of piggy bank saving, pay check or pension(Bitcoin.com, 2018.). Thus, instead of depending on the banks, their risks being involved,delays, feeds and frauds, Bitcoin.com stands for money without any limitation. Thus, thisfirm support Bitcoin cash which is a global digital currency. The main mission of the firm isto give freedom of movement of cash to people that drives the human progress. Further, thevision of the organization is to grab the position of the most trusted company. Further, theyvalue many things i.e. for them their people comes first, they want to do right things, and theyplay to win, build Bitcoin.com and create a better tomorrow.Size and geographyTalking in relation with the size of the Bitcoin blockchain, there has been seen aconsistent high level growth right from the day it has been created. It has reached up to 210gigabytes in size in the beginning of 2019. Speaking about the Bitcoin blockchain, it is a1
dispersed database which involves a continuous growing as well as tampered evident list ofall the transactions related to Bitcoin. It also records all the information right from the date ithas been initially released in the year 2009 (Islamic Republic of Iran, 2018). Furthermore,there are 17.8 million Bitcoin in circulation all across the world in the second quarter of 2019.BUSINESS STRATEGIES OF BITCOINStrategies adoptedIn this global scheme of things, Bitcoin, awareness, Blockchain and interest areincreasing at a faster pace and they are still considered as novel and innovative technologies.Presently, Bitcoin averages around 300,000 transactions in a day in comparison to Visa’swhich is doing around 150000 on a daily basis. All this indicates that it has been adopted bygulf before digital currency comes to its level when it will be the only money of the future.Pertaining to this, educating people and marketing efforts proved to be very crucial foradvancing the digital currencies (Islamic Republic of Iran, 2018). Bitcoin.com has mademany efforts to increase the awareness of Blockchain technology and Bitcoin likeDecentralized Marketing Network. Further, they also think that word of mouth is the bestmarketing strategy behind any digital technology that can support and educate the new users.SWOT analysis of BitcoinStrengthsOnly two parties are involved in themethod of transferring money (Kieferand Carter, 2005)It is a tax free currencyFolly to economic turmoilSkyrocket popularity within the lastfew yearsWeaknessesThe transactions of Bitcoin are not asfast they were beforeBlocks become more when it is usedmoreWallet password problemOpportunitiesBig companies are adopting Bitcoin asa payment methodGrowing hostility between the publicand the banking institutionsPeople looking for secure, safe as wellas practical means and thus, areThreatsThreats related to anonymityCan be used or nefarious reasonsPeople fear about the consequencesRising level of competition in themarket2
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