Global Strategies in International Business

Global Strategies in International Business The industry based view of strategy explains how industry attributes affect the performance of companies. According to Peng et al., the industry specific attributes relate to factors in the external environment of a company (1). These are factors that are determined by many players in the market and not just an operating company.Advertising We will write a custom essay sample on Global Strategies in International Business specifically for you for only $16.05 $11/page Learn More This means that the company in question does not have full control over how it performs in the market because of the power of external factors. This approach to strategy formation brings out that managers should consider external factors that affect their operations. The manager should not just consider internal characteristics of his company but also those of competitors and other market stakeholders. Even though businesses operate independently in markets, their activities are affec ted by those of other similar businesses in the same industry. Many markets are perfectly competitive and so prices and the level of output produced are determined by many parties. The business level model of global competitive dynamics brings out how different organizational functions enable companies to compete in the global market. Businesses must make use of different functions such as production, accounts and marketing so as to create competitive advantage. Since profits are what keep businesses in operation, all activities must be competitive so that the organization gains advantage over its rivals in the global market. The industry based view of strategy works well with the business level model of entrepreneurship since the two factors are inter-related. Managers must develop strategies in relation to industry factors. When this is done, the strategies become practical and realistic in relation to the market. This approach enables managers to consider how industry factors aff ect individual business functions and the demand and supply of their products so that pricing and product strategies can be effective in creating profits. The industry based approach however neglects the firm’s internal capabilities of dealing with challenges. At times the resources and skills possessed internally are enough to meet the needs of the market while industry factors complicate what could have been solved easily.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The corporate-level model of multinational strategy, structure, and learning looks at the firm as a corporate body. This means that all activities are interrelated so that the organization moves in one direction. In the global arena, organizations need to develop strategies that create harmony and cooperation between individual departments. Corporate strategies also determine organizational activities, str ucture and acquisition of knowledge. The industry based approach to strategy formulation puts the focus of managers on industry factors. When managers consider the impact of industry forces on the firm’s activities, they are able to develop strategies that can overcome challenges from the external environment. When global strategies are based on the industry view, organizations gain the advantage of being in touch with the actual situation in the market. The industry based view however does not optimize on available resources within the organization such as manpower, time, finances and skills since its focus is on the industry factors. In conclusion, the industry based view on strategy has both advantages and disadvantages in relation to the business-level model of global competitive dynamics and the corporate-level model of multinational strategy, structure, and learning. The industry specific factors affect corporate strategies especially in the global business environment. Strategy formulation and implementation should be based on the global perspective of markets. Global strategies therefore have to consider industry factors and how these affect the operations of individual businesses. Managers are faced with the task of ensuring that their organizations remain competitive so that they gain advantage over their competitors. Bibliography Peng Mike W, Wang Denis Y and Jiang Yi. â€Å"An institution-based view of international business strategy: a focus on Emerging economies†. Journal of International Business Studies. 39(2008): 920–936. Web. https://www.utdallas.edu/~mikepeng/documents/articles/Peng08JIBSWangJiang39(5)pp920-936.pdf

Obama Term - Barack Obamas Last Day as President

Obama Term - Barack Obamas Last Day as President President Barack Obamas last day as president was January 20, 2017, and he spent it doing what most American presidents did on their last few hours in the White House. He greeted the incoming president, Republican Donald Trump, and Trumps family. He wrote a note to his successor that read, in part:  Ã¢â‚¬Å"We’ve both been blessed, in different ways, with great good fortune.† And then Obama attended Trumps swearing-in ceremony. Obama, like every other president serving his final term, became a lame duck president the day he was sworn into office for a second time following his Election Day rout  of Mitt Romney in 2012. Trump was chosen  in the 2016 election and sworn into office at noon on Jan. 20, 2017. Trumps first term ends on Jan. 20, 2021, when the next president is sworn into office. That day is called Inauguration Day. Obama Keeps a Low Profile After Term Ends Obama spoke very little in the first months after he left the White House. He held a conversation on community organizing and civic engagement in Chicago as he approached his 100th day out of office. Obamas first substantial criticism of his successor came in early September of 2017, nearly eight months after Trump took office; the former president, a Democrat, was critical of Trumps plan to kill the  Deferred Action for Childhood Arrivals program, or DACA. The program allows children of immigrants living in the United States illegally to stay in the country without fear of immediate prosecution. Said Obama in response to Trumps plan: â€Å"To target these young people is wrong ― because they have done nothing wrong. It is self-defeating ― because they want to start new businesses, staff our labs, serve in our military, and otherwise contribute to the country we love. And it is cruel. This is about whether we are a people who kick hopeful young strivers out of America, or whether we treat them the way we’d want our own kids to be treated. It’s about who we are as a people ― and who we want to be.† When Obamas Term Ended The date of the presidential swearing-in and conclusion of a presidents term is set by the 20th Amendment to the Constitution. Under the terms of the 20th Amendment, a presidents term  ends at noon on Jan. 20.   The 20th Amendment reads, in part: The terms of the President and Vice President shall end at noon on the 20th day of January, and the terms of Senators and Representatives at noon on the 3d day of January, of the years in which such terms would have ended if this article had not been ratified; and the terms of their successors shall then begin. Awaiting Obamas Last Day Its become a sort of modern-day political tradition for a presidents staunchest critics to begin counting down his last days in office. Obama endured such treatment from conservative Republicans. There were even commercial endeavors to celebrate Obamas last day in office: bumper stickers, buttons, and T-shirts announcing Jan. 20, 2017, as the End of an error and Americans happiest day. Obamas predecessor, Republican President George W. Bush, was the target of similar campaigns, including an  Out of Office Countdown Wall Calendar that included some of the most well known Bushisms.   The Republican National Committee celebrated Obamas last day as president by posting the date on its website even before he was elected to a second term in 2012. The GOP designed the ad to raise money from conservatives worried about him being re-elected. The party said: The RNC is clearly not giving President Obama a free pass in 2012 - quite the opposite actually, we are aggressively showing voters what our country would look like after another four years of President Obama and his tax and spend policies that have done nothing to create jobs and leave us vulnerable to governments like China. When Obama Was Sworn In to His Final Term Alex Wong / Getty Images Obama was sworn in to a second term on Jan. 20, 2013, after easily defeating Republican Mitt Romney in the 2012 presidential election. Why Presidents Can Serve Only Two Terms Obama, like all U.S. presidents, cannot serve a third term in the White House because of the Constitutions 22nd Amendment, even though many conspiracy theorists believe Obama would try to remain president beyond his eight years in office.