Steps in Developing International/Global Strategies

Running head: GLOBAL STRATEGIES IN AN ORGANIZATION
GLOBAL STRATEGIES IN AN ORGANIZATION
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GLOBAL STRATEGIES IN AN ORGANIZATION1
The Six Key Steps in Developing International/Global Strategies
The managers need to evaluate the dynamic factors and follow the below steps to
develop the global strategies of an organization.
1. Determine the Objectives- The mission of an organization should be to develop in the
areas of marketing, production, profitability, finance, research and development
internationally. It should focus on the demands of global customers and set the corporate
objectives accordingly.
2. Assess External Environment- In this stage, the firm should carry out a global
environment analysis on multinational, regional and national level to assess whether it is
capable of surviving the competition internationally (Deresky 2000). Environmental scanning
lets the firm decide on the competitive actions, risks and the relevant trends in the operations.
3. Analyse Internal Factors- The firm in the third step should decide the strengths and the
weaknesses of the internal operations and effectively improve them strategically to stand
against the competitors (Anseeuw et al. 2017). Furthermore, the company can conduct audit
and competitive analysis to check their issues and eliminate them for enhancing their growth
worldwide.
4. Evaluate Global Strategic Alternatives- Integration of the operations in a firm are a
necessity to implement worldwide sourcing, global integrated production and marketing
system. The companies should also adapt to e-business to attain global opportunities of
maintaining a business worldwide.
5. Evaluate Entry Strategy Alternatives- The ownership strategies are evaluated in this step
in a firm that includes exporting, licensing, offshoring, franchising, joint ventures and so on.
Exporting of products by a firm allows globalization by making it available to a wider range