Business Management Report: Adaptation and Standardization Strategies

This report delves into the core principles of business management, specifically examining the contrasting strategies of adaptation and standardization in the context of global market expansion. The report highlights the importance of strategic planning and financial resources when entering international markets, emphasizing the potential of businesses with a strong domestic presence to leverage their existing revenue streams for global ventures. It explores adaptation, which involves tailoring products and services to local market characteristics, and standardization, which aims to offer uniform products and communications across all markets. The report concludes that standardization, incorporating marketing mix elements and addressing market needs, is crucial for achieving business objectives. The report references the importance of marketing mix in implementing the standardization strategy and achieving competitive advantage. It also emphasizes the significance of customer perception and preferences in determining the success of products and services, further advocating for the implementation of the standardization strategy to achieve desired business outcomes.

INTRODUCTION
Business management is generally associated with the
running of company which involves major
components like controlling, monitoring, leading,
planning and organization. This process genuinely
helps the business corporate in order to achieve their
goals and objectives.
On the contrary side, adaptation is considered as a
change which is made by the organization in order to
improve their brand image as well as revenue.

Focus of business organizations
Once decision taken by the business organization to tap
the international markets requires a great amount of
planning, thinking and the most important financial
resources. Further, the existing organization who
having a broad market in the UK can think to tap the
global market as these organizations have incurred
huge amount of profits in past one or two decades
and they have so much of revenue so that they can
exist their new venture their.

Adaptation strategy
Adaptation strategy to take account of special
characteristics of each local market. Standardization
of products and services in necessary for the
business venture because all the products and
services are produced according to the needs and
demands of the customers. If consumers do not like
product then organization cannot force them to
purchase their product as it is the customer's
perception.

Standardization strategy
Standardization refers a situation where firms operates
at the global level and generally attempt to
standardize their products and also communications
to all markets within which they function.
Further, organizations generally incur huge
advertisement expense in order to make effective
sale of that product.

Suitability from the both
From all these instance it has been clearly
evaluated that the organization in order to
expand their business should majorly focus on
the standardization strategy as producing the
products by considering the need of the market
along with considering the marketing mix
element will lead organization to achieve their
goals and objectives.

CONCLUSION
From the above report it is clearly inferred that the business
organization must focus on implementing the standardization
tactic so that firm can make necessary changes in their
products and services when serving globally in different
countries. Further, this report has deliberately focused on
both adaptation as well as the standardization strategy so that
company can implement any one of them to get the
competitive advantage. Further, business enterprise should
majorly focus on the standardization as it is the technique
where marketing mix for the different products and services
comes into play and the organization should consider these
elements in order to get best of the result

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