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Effective Communication: Interaction and Company Success

   

Added on  2019-12-03

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International Business Strategy1
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ESSAYINTRODUCTIONInternational business strategy is considered as a well structured plan that assistmanagement for managing diverse commercial transactions associated with overseas businessexpansion. Furthermore, it is evaluated that success of overseas business operations is greatlydepending on the international business strategy in which management develops variousactivities for attainment of organizational goals such as increase in market share and increase inprofit margin ratio (Beamish, 2013). In this context, different companies are focusing on diverserange of business norms as per the different factors of international market. Internationalbusiness strategy plays important role in promotion and growth of company in new marketplaces. Key purpose of learning is to assess the gape between strategies that companies adopt athome and host location so as porter's diamond model is evaluated. MAIN BODYPorter Diamond ModelAs per the study of Kollmann, Enders and Müller (2011) it has found that porter diamondmodel is identified as most effective technique that supports company for managing severalaspects associated with market competition while dealing in different nations. The porterdiamond model assists business organizations for managing extra attention on certain specificfactors which can influence the operational activities. In the support of this, it has found that thismodel assists manager in evaluation of different global factors that improves internationalbusiness performance and competitive advantage in global market. Jifeng (2013) has determinedthat the porter diamond model provides significant benefits in the form of selection of anefficient design of strategies which enhances competitive position of company in new overseasmarket. It considers number of global factors that have significant impact on differentmanagement practices of an organization such as economy, social, etc (Lafley and Martin,2013). By considering this approach, organization can focus on diverse clusters which relates tothe industry through which business entity is able to develop various appropriate strategies as perrequirement of particular market. The research of Crucini, Kose and Otrok (2011) has found that the management oforganization is able to analyse performance of company with an appropriate manner byPage | 2
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conducting an detail comparison with other organizations/competitors. In the support of this, ithas examined that porter diamond model is categorized in diverse factors that include factorconditions, demand conditions, related and supporting industries, firm strategy or structure,government and chance. In this respect, aurthor further argued that with an assistance of porterdiamond model the business organizations is able to pay extra attention on diverse resourceswhich are playing important role for managing competitive advantage with the help of differentresources human resource, knowledge, physical, capital resource, etc (Riasi, 2015). As per the different aspects of Porter diamond model, the management of Domino's Pizzais focusing while developing different business strategies as per the requirement of food andbeverage industry. Improved focus on these factors has played important role to managecompetitive edge over other companies (Marren, 2012). In this context, it has been analysed thatDomino's Pizza is operating the world so as management has developed various strategies withreference to various global factors which related food restaurant industry. Therefore, that hasbeen distinct variations addressed in international business strategies as compared tomanagement practices that have been adapted by company while dealing with the domesticmarket. In this process, business entity has considered different factors like social needs,economic factors, etc (Welch, Piekkari, Plakoyiannaki and Paavilainen-Mäntymäki, 2011). Verbeke (2013) has evaluated business entity can easily create better competitiveadvantage while dealing in home market with an consideration of demand conditions. In theseconditions the social factors such as change in interest and lifestyle have influenced themanagement of Domino's Pizza for bringing number of innovations in food product and servicesrendering process without any problem. This is because company is aware about domesticmarket conditions. This approach has found effective for assessing competitive advantage overother competitors. This is because of products of company are better than its competitors. In thesupport of this, Zhao (2011) has evaluated that improved consideration of related and supportiveindustry factors are providing the great level of assistance for improving market position oforganization. By considering this approach, the administration of Domino's Pizza is able toproduction of food production and different business strategies with reference global businessfactors and preference of consumers of different nations. This approach has found very effectivein order to reduce the overall cost of overseas business operations and provides cost effectiveinputs (Nickols n.d ). It also allows business for carrying significant advancement in differentPage | 3
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