APPLICATION OF STRATEGIC MANAGEMENT: STRATEGIC MANAGEMENT AND MARKETPLACE

The modern business world is a complicated place. Before managers can learn how to practice strategic management successfully in the international context, they must have a thorough understanding of the basic principles of international management. Therefore, the subject of this Part is strategic management for business that engage in international operations.

Strategic Management and the World Marketplace, provides, an overview of several major concerns of strategic management to respond to the globalization of business.

I begin in Chapter 1, International Strategy and Global Strategy, by examining some of the important issues associated with formulating and implementing strategy in the context of the world marketplace. This chapter recognizes the increasing globalization of business activity. Global industries, global strategies, and multinational corporations are all examined, and unique environmental forces in global strategy formulation are presented. Generic global strategy options and methods of global strategy selection are discussed. This chapter also covers strategy formulation and functional area interrelationships.

Then, in Chapter 2, Technology and the Multinational Enterprise, I consider special challenges about multinational firms activities that transfer technology across border.

Finally, Chapter 3, Impact of Culture on Organizational Behavior, explores the cultural environment of international business and identifies the major implications it has for effective management. After carefully studying this Part, managers should learn how to practice strategic management successfully in the international context.

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