Reflective journal on International Business Strategy

Running head: MANAGEMENT
Reflective journal on International business strategy
Name of the student:
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Contents
Week 1: International business perspectives..............................................................................2
Week 2: Macro environment......................................................................................................3
Week 3: Industry environment...................................................................................................4
Week 4: Internal environment....................................................................................................5
Week 5: International expansion and strategic alliances...........................................................6
References..................................................................................................................................8
Bibliography...............................................................................................................................9
Appendices...............................................................................................................................11
Appendix 1...........................................................................................................................11
Appendix 2...........................................................................................................................11
Appendix 3...........................................................................................................................12

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Week 1: International business perspectives
Description
In the first week, we were exposed to the wide ranging perspectives through which
the business mechanisms can be understood (refer to Appendix 1). The class lectures
affirmed with the arguments of Beamish and Lupton (2016) on macro globalization, proved
effective for me to expand my skills, knowledge and expertise on the international business. I
can mention about the push and pull strategies.
Selection items of preference
In the lectures, emphasis was given on the motives behind the formation of the push
and pull strategies. It is at this stage, where I gained crucial insights into the alterations and
the contexts, which gives rise to these strategies. The example of the MNE’s and Banks acted
assistance for me to relate the issues.
Shaping of knowledge and understanding
Referring to various books, articles and reports shaped my perceptions about global
strategies, dimensions of corporate globalism and others. I also referred to the company
annual reports for gaining an insight into the unity and coordination in the process of
preparing the globalization strategies. I critiqued the scholarly reviews, which concretized my
experience.
Future outlook
I aim to indulge in group discussion with the experts and team members, which would
me to reduce the knowledge inadequacies on international business strategies. I would also be

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adopting efficient means of negotiation for the means of conflicts, biases and discriminations,
which can degrade the integrity of the workplace.
Week 2: Macro environment
Description
In this week, I came to know about the external factors affecting the business. As a
matter of specification, we were taught about the formulation of strategies in such a way for
achieving competitive advantage (refer to appendix 2). Along with this, considering the
arguments of Jakobsen, Worm and Li (2018), I also learnt about the analytical tools for
measuring the external environment enveloping the business mechanisms.
Selecting items of preference
In the lectures, I liked the concepts of megatrends, which affects the business
environment as a whole. I can make mention of the analytical tools of PESTLE and Porter’s
Five Forces, which are most commonly used for scanning the macro-environmental factors
influencing the businesses. Application of the tools to the business situations helped me to
assess its effectiveness.
Shaping of knowledge and understanding
Referring to the articles and case study reports formulated my understanding about the
analysis of the external environment, affecting the businesses. I conducted keyword search
for gaining information on the influences on the process of formulating the business
strategies. Synthesizing the collected facts with the self prepared notes helped me to deduce
relevant conclusion regarding the external factors.
Future outlook

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In the upcoming days, I intend to conduct search engine optimization for collecting
information on the external business environment. After this, I would make a tabular
representation of the collected facts, which would enhance my clarity on the subject. I would
apply the tools on the case studies for assessing the effectiveness of my selected tool.
Week 3: Industry environment
Description
In this week, I learnt about the concepts of Red Oceans Strategy, which is crucial for
the managers to map the external environmental factors. With the review of the models
proposed by Martin (2020), I also gained crucial information about the cultural differences
and distances, which influences the purchasing decision and power of the service providers.
Selecting items of preference
In the lectures, I liked Yip model, which enhanced my awareness about the industry
drivers like cost, market, governmental intervention, competition, which globalizes the
business. I can also refer to the method of Industry Life Cycle, which helps in mapping the
journey in the competitive ambience of the market.
Shaping of knowledge and understanding
Internet research helped me to collect information on the industrial environment.
Studying the case study reports enhances my preconceived knowledge about the industry
scanning. Scholarly reviews have been integral in enriching my awareness about the factors
influencing the industrial development. I also indulged in discussions, which helped me to
expand my knowledge horizons on industry environment.
Future outlook

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I would ensure that consistencies are maintained in the discussions, which would
upgrade the standards and quality of my performance. I would ensure that effective
communications are maintained with the experts for detecting the areas, in which necessary
modifications are to be made in the understanding and learning process.
Week 4: Internal environment
Description
In this week, I learnt about the internal environment affecting the businesses. As a
matter of specification, Taking a cue from the arguments of Matten and Moon (2020), I learnt
the ways of assessing the resource competencies, which measures the capabilities for
attaining competitive advantage. The mode of instruction was comparative with that of the
overall industry environment.
Selection of the preferred item
I specifically liked the resource based view for the formulation of the strategies. The
class lectures and internet research enriched my awareness about the strategies, being
different from the marketing strategies. I also liked the blue ocean strategy, which enhanced
the core competencies of the businesses.
Shaping of knowledge and understanding
Group discussions resulted in the knowledge transfer, which enhanced my awareness
about the internal environmental factors of a business. I also referred to the case studies and
reports regarding Red Ocean and blue ocean strategies for mapping the internal environment.
I also conducted competency tree, which enhanced my awareness about the effectiveness of
the resources and competencies (refer to appendix 3).

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Future outlook
I intend to look out for more frameworks, through which I can learn about the ways of
mapping the internal environment. In this context, assistance and guidance of the experts and
supervisors would be effective for averting the mistakes. I have planned to implement the
learnt skills in applying the frameworks
to the business situations.
Week 5: International expansion and strategic alliances
Description
At the starting of the fifth week, we were given the motivation for exercising on the
international strategies, which we learnt at the start of the course. The guidance of the
supervisors helped me to organize the motifs and perspectives into organizational and the
environmental factors. We were taught about the steps taken by the businesses for globalizing
the business into the international markets.
Selection of the preferred item
I preferred Porter’s diamond model for gaining additional information about the
strategies for expanding into the foreign markets. The lectures added an extra feather into my
knowledge in terms of the concept of psychic distance. I also liked Uppsala model, which
states that knowledge as an important concept for reaching to the specific demands and
requirements of the clients and customers.
Shaping of knowledge and understanding
I read the articles, books and case studies on the globalization strategies, which
enhanced my preconceived skills, knowledge and expertise on the strategic alliances for

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achieving expansion for accumulating greater market share. I specifically focused on literary
reviews on the effectiveness of the strategies for achieving higher competitive edge in the
foreign markets.
Future outlook
I intend to conduct more in-depth research on the market entry modes. Along with
this, I have constructed the plans for reading the cases on the joint ventures. I would indulge
in discussions with the team members for upgrading my knowledge on the finance behind the
strategic alliances.

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References
Beamish, P.W. and Lupton, N.C., 2016. Cooperative strategies in international business and
management: Reflections on the past 50 years and future directions. Journal of World
Business, 51(1), pp.163-175.
Jakobsen, M., Worm, V. and Li, X., 2018. Making sense of context in international business:
Some methodological reflections. Asia Pacific Management Review, 23(4), p.251.
Martin, X., 2020. Multilevel Models in International Business Research: Broadening the
Scope of Application, and Further Reflections. In Research Methods in International
Business (pp. 439-446). Palgrave Macmillan, Cham.
Matten, D. and Moon, J., 2020. Reflections on the 2018 Decade Award: The Meaning and
Dynamics of Corporate Social Responsibility. Academy of Management Review, 45(1), pp.7-
28.

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Bibliography
Ardley, B. and McIntosh, E., 2019. Business strategy and business environment: The impact
of virtual communities on value creation. Strategic Change, 28(5), pp.325-331.
Buckley, P.J., Burton, F. and Mirza, H. eds., 2016. The strategy and organization of
international business. Springer.
Castellani, D., Narula, R., Nguyen, Q.T., Surdu, I. and Walker, J.T. eds.,
2018. Contemporary Issues in International Business: Institutions, Strategy and
Performance. Springer.
Dangi, M.R.M., Ismail, A.H., Johari, R.J. and Noor, R.M., 2018. SME’s Internationalization
Initiatives: Business & Growth Strategy ICT and Technology. Int. J. Accounting, Financ.
Bus, 3(12), pp.63-75.
Di Nauta, P., Merola, B., Caputo, F. and Evangelista, F., 2018. Reflections on the role of
university to face the challenges of knowledge society for the local economic
development. Journal of the Knowledge Economy, 9(1), pp.180-198.
Hartsfield, S., Johansen, D. and Knight, G., 2017. Entrepreneurial orientation, strategy, and
marketing capabilities in the performance of born global firms. International Business:
Research, Teaching, and Practice, 2(1), pp.12-38.
Kolk, A., 2016. The social responsibility of international business: From ethics and the
environment to CSR and sustainable development. Journal of World Business, 51(1), pp.23-
34.
Li, P. and Bathelt, H., 2018. Location strategy in cluster networks. Journal of International
Business Studies, 49(8), pp.967-989.

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Marabelli, M. and Galliers, R.D., 2017. A reflection on information systems strategizing: the
role of power and everyday practices. Information Systems Journal, 27(3), pp.347-366.
Nicoara, C.A., Palihawadana, D. and Robson, M.J., 2019. Strategic CSR and the CSR
strategy-making process of international business. In Socially Responsible International
Business. Edward Elgar Publishing.
Paavilainen-Mäntymäki, E., Piekkari, R., Plakoyiannaki, E. and Welch, C., 2020. Theorizing
from Cases: Further Reflections. In Research Methods in International Business (pp. 229-
231). Palgrave Macmillan, Cham.
Soltanizadeh, S., Rasid, S.Z.A., Golshan, N.M. and Ismail, W.K.W., 2016. Business strategy,
enterprise risk management and organizational performance. Management Research Review.
Spillan, J.E., Parnell, J.A., Koseoglu, M.A. and Akdeve, E., 2018. Strategic capabilities,
niche strategy orientation and performance: a four-nation assessment. International Journal
of Business Performance Management, 19(4), pp.427-449.
Yoboue, W.K., Yi, K. and Antwi, H.K., 2017. New paradigms in international market entry:
A reflection on the present and the future. International Journal of Scientific Research in
Science and Technology, 3(3), pp.59-67.

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Appendices
Appendix 1
Fig: Drivers of Global Strategic perspectives
(Source: Beamish and Lupton 2016)
Appendix 2

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Fig: Business environment
(Source: Jakobsen, Worm and Li 2018)
Appendix 3
Fig: Competency tree
(Source: Martin 2020)