Strategic Management in a Globalized Economy: Strategy Selection

This assignment examines strategic management in a globalized economy, focusing on the selection of appropriate international strategies for companies operating in 50 countries. The discussion addresses the strategic choices for companies selling mobile phones, dry soup mixes and canned soups, large home appliances, and apparel and footwear. It explores the application of multi-domestic, global, and transnational strategies based on product characteristics, market conditions, and consumer preferences. The analysis considers factors such as regional responsiveness, market adaptation, and global standardization. The assignment utilizes academic references to support the strategic recommendations for each product category, emphasizing the importance of aligning strategy with market demands and the competitive landscape. The paper recommends a multi-domestic strategy for mobile phones, dry soup mixes and canned soups, a global strategy for large home appliances and a transnational strategy for apparel and footwear. The paper references Duran and Bajo (2014) and Tulung (2017).

Running head: STRATEGIC MANAGEMENT IN A GLOBALIZED ECONOMY
STRATEGIC MANAGEMENT IN A GLOBALIZED ECONOMY
Name of the Student
Name of the University
Author Note

1STRATEGIC MANAGEMENT IN A GLOBALIZED ECONOMY
Q1. If your company's product is mobile phones, do you think it would make better strategic
sense to employ a multi-domestic strategy, a global strategy, or a transnational strategy?
Why?
As the company is selling mobile phones to 50 countries around the world, the
company should follow the multi-domestic strategy to sell the phones globally. It will be the
strategy through which the company will try to achieve the maximum regional
responsiveness by modifying their product as well as the marketing strategy in order to match
the different market conditions for different countries and according to the tastes and
preferences as well as the spending power of the people out there (Tulung 2017).
Q2. If your company's product is dry soup mixes and canned soups, would a multi-domestic
strategy seem to be more advisable than a global strategy? Why?
A multi-domestic strategy would be more advisable than a global strategy if the
company wants to sell dry soup mixes and canned soups, just because of the marketing
approach of this strategy. This strategy focuses more on the advertising as well as the
commercial efforts on the needs and requirements of the local market where the company is
running its business operations, rather than following a global or universal approach. This
will help to understand the culture of the different local markets and tap those markets based
on the demographics of that area (Duran and Bajo 2014).
Q3. If your company's product is large home appliances such as washing machines, ranges,
ovens, and refrigerators, would it seem to make more sense to pursue a multi-domestic
strategy, a global strategy, or a transnational strategy? Why?
Here, the company can follow the global strategy, which would take into account the
entire market place of the world to follow the same approach. This strategy need to be
successful in all over the world irrespective of the nature of the customers in those places.

2STRATEGIC MANAGEMENT IN A GLOBALIZED ECONOMY
These products are needed by almost all the people irrespective of the features and other
criteria of the products. So, global strategy would be a fit for selling these kind of products
(Tulung 2017).
Q4. If your company's product is apparel and footwear, would a multi-domestic strategy, a
global strategy, or a transnational strategy seem to have more appeal? Why?
In this case, the company should follow the transnational strategy, which can be
termed as a personalized approach to marketing as well as selling of apparel and footwear in
the market place of the 50 countries. The rise of the internet has made the availability of these
products at the click of a mouse. This strategy would take the opportunity of the new
smallness of the world to expand their worldwide footprint, while taking into account the
cultural as well as societal differences that help to shape the consumers in their own
environment (Duran and Bajo 2014).

3STRATEGIC MANAGEMENT IN A GLOBALIZED ECONOMY
References
Duran, J.J. and Bajo, N., 2014. Institutions as determinant factors of corporate responsibility
strategies of multinational firms. Corporate Social Responsibility and Environmental
Management, 21(6), pp.301-317.
Tulung, J.E., 2017. Resource Availability and Firm’s International Strategy as Key Determinants Of
Entry Mode Choice. Jurnal Aplikasi Manajemen, 15(1), pp.160-168.