Strategy and International Trade Opportunities Free Samples

Questions: 1.What is strategy?2.Discuss about the International Trade Opportunities. Answers: 1.Strategy The video talks about different important terminologies towards the formulation of strategy in different organizations. The organizations should aim for becoming the low cost provider of the service so that there is more number of customers for the company. It is also important to pursue a global strategy that would be competitive and would provide best services to the clients (Eden and Ackermann 2013). The best business solutions should integrate a set of local acquisitions so that these provide better business prospects for the organization (Eden and Ackermann 2013). A company should also strive for giving unrivaled customer services, which implies that the company should aim for providing the best customer service and address all the queries of the customers. The organizations should strive to be the first-mover, which implies that the organizations should incorporate value added services or innovative services to their products or services so that they become the first ones to do so (Verbeke 2013). It is also important to shift the focus to the industrial applications so that they provide more product variety to the clients. These pointers are not considered as strategies that are considered as tactics, which are considered as small components of strategy (Eden and Ackermann 2013). These strategies can also be regarded as objectives and goals, which should be used by the organizations to demonstrate their business acumen. These ideas of strategy are highly relevant in modern day organizations, including Coca Cola. Coca Cola should strive to provide the best services to the customers by including healthy ingredients in their products (Coca-cola.com 2017). The company should incorporate innovative ingredients in their products, such as healthy drink alternatives, which would attract the health conscious customers of the company. It should also strive to provide unique customers service to the organizational clients, preferably in both online and offline mediums (Coca-cola.com 2017). It should answer the queries of the customers, which would improve their business prospects. The company would really benefit from the above strategies. It should integrate local customizations to its products so that they are able to fulfill the preferences of the customers. The increased focus on the local tastes of people would help the company to build customer friendly products that would increase the revenue generation of the organization. It is important to adopt a global strategy for the organization to be successful in the market and to survive the tough competition. The business strategies of IBM Singapore involve a high degree of innovation that would be combined with the artificial intelligence (Ibm.com 2017). The organization aims to put greater emphasis on the transformations in the organization that increase the profitability and the growth (Ibm.com 2017). There is an increased investment in the country so that they can have global audiences and better business prospects (Ibm.com 2017). However, it was not able to attract a large number of local mergers or acquisitions in order to gain better business prospects. It has failed to be the low cost service provider and there are competitors who provide better services to the customers. 2.International Trade Opportunities CAGE is a framework, which is based on the different international and research economics that affects the trade between two countries, which is influenced by different factors (Ghemawat 2013). The application of CAGE framework is dependent on the fact that the managers should identify different attractive locations, which would be based on the costs, raw materials, access to the markets and others (Ghemawat 2013). For example, Cadbury is interested in markets with relatively high purchasing power of the consumers. An international market expansion strategy would be based on the determination of specific resources as well as capabilities of the firm. CAGE defines cultural distance, administrative distance, geographic distance and economic distance (Ghemawat 2012). There is significant cultural difference between the countries, which needs to be considered prior to the international expansion of Cadbury. The values of people of India would be different from that of New Zealand and thi s must be taken into account by the business managers (Ghemawat 2013). They should also focus on the administrative distance, which refers to the present and historical associations between the countries (Ghemawat 2013). The geographic factors take into consideration the physical distance between the two countries or trading partners. The economic distance factor should take into account the fundamental differences in terms of economic criteria such as income, purchasing power of geographic markets and others. Cadbury should consider these factors while venturing into international market expansion. There are considerable amount of difference between the CAGE framework of China and Australia. The Chinese culture focuses on the art of indirect communication while the Australians focus more on the direct communication (Bowe Martin and Manns 2014). The personal space is important for Australians, which is not the case for Chinese people. China is characterized by a command economy, which implies that the central power makes all decisions regarding investment and production (Economy and Levi 2014). On the other hand, the Australian economy is characterized by mixed market economy, which is dominant by the private sector. In China, the distribution of labor is concentrated in primary, secondary and tertiary sectors (Bowe Martin and Manns 2014). In Australia, there is concentration of the labor force in the tertiary sectors such as tourism. The geographic distance between China and Australia is 7,448 kilometers and the air distance is considered as 4,628 miles (Ayson 2012). China is c onsidered as the largest country in terms of population. Australia, on the other hand, is considered as slightly smaller than US and it has 7.62 million square meter of land (Ayson 2012). The economic condition of Australia points on the fact that it has continuous growth as well as different features of low unemployment (Bowe Martin and Manns 2014). It was also characterized by the low public debt and strong financial system. On the other hand, China has been characterized by centrally planned system and it has led to a major role in the global market References Ayson, R., 2012. Choosing Ahead of Time?: Australia, New Zealand and the US-China Contest in Asia.Contemporary Southeast Asia: A Journal of International and Strategic Affairs,34(3), pp.338-364. Bowe, H., Martin, K. and Manns, H., 2014.Communication across cultures: Mutual understanding in a global world. Cambridge University Press. Coca-cola.com. (2017).Coca-Cola Global: Soft Drinks Beverage Products. [online] Available at: https://www.coca-cola.com [Accessed 26 Apr. 2017]. Economy, E. and Levi, M., 2014.By All Means Necessary: How China's Resource Quest is Changing the World. Oxford University Press. Eden, C. and Ackermann, F., 2013.Making strategy: The journey of strategic management. Sage. Ghemawat, P., 2012. The ABCDs of Leadership 3.0. InLeadership Development in a Global World(pp. 62-89). Palgrave Macmillan UK. Ghemawat, P., 2013.Redefining global strategy: Crossing borders in a world where differences still matter. Harvard Business Press. Ibm.com. (2017).IBM - United Kingdom. [online] Available at: https://www.ibm.com [Accessed 26 Apr. 2017]. Verbeke, A., 2013.International business strategy. Cambridge University Press.