Global Strategy of a Business Blog
Added on - 16 Oct 2019
BLOG: GLOBAL STRATEGYWHAT IS GLOBAL STRATEGY?
GLOBAL STRATEGY6thAugust 2019In business, global strategyrefers to a strategic guide to a business organisation toglobalisation.At the present scenario, the world becomes more connected which allows a company to generaterevenue by utilising the resources prevailing in countries that are located outside the nationalborder. Global strategy of a business is something that a business uses to applyto reap therewards of conducting business in the worldwide market. During the end of the twentiethcentury, a number of barriers related to international trade walls due to this, a large wave ofcompanies started pursuing global strategies with the aim of gaining competitive advantages.Academic research on global strategy came around 1980s by literary works presented byMichael Porter,Christopher Bartlett, and Sumantra Ghoshal. Global strategy is associated witheconomic systems, and technological change more especially changes in information technologywhich facilitated the coordination of a multinational company’s strategy on the worldwide scale.Definition and Discussion on Global StrategyAglobal strategyis one that a company takes when it wants to compete and expand in the globalmarket. In some other words, a company pursues global strategy when it wishes to expand itsbusiness internationally. A global strategystands as the plans a business organisation uses todevelop in order to target and ensure its corporate growth beyond its national borders. Morespecifically, global strategy is something by which a company aims to enter into foreign marketsto increase the volume of its goods’ sale abroad. Global strategy is a shortened term whichcovers threedifferent strategies such as global, international, and multinational.In support of thedefinition provided by theCambridge Dictionary, a global strategy is a detailed plan showinghow a company or product or service could become successful in every country across the worldand the planning process on how a company or product or service could gain success from theworldwide market.