Introduction
As you already know, Able Corporation has been a successful manufacturing company in the United States of America. The company has been engaging in lawn mowers, lawn furniture ranges microwaves as well as power tools. Our successes in Canada and USA have prompted a need for the company to break into global market place. The company is determined to extend its products and services to the global market
Able’s Mission
Through the incentives which our company has already embraced, we are determined to seek for an international plan that will help us in penetrating into the global market. Our company is considering the international perspectives that will help us expand our market position as well as dimensional economies. Our strategy will largely depend on our available competencies and resources (Pinson, 2008). We are also determined to set strategic competitiveness that is based on our already existing managers potential to handle complex firms which will be extended into other countries. We will also need to identify the potential markets as well as potential partners. In addition, we will need to define our international objectives as well as the suitable operational methods.
Information
In order to be successful in expanding our business to the international markets, we will need to gather ample information regarding the nations where we intend to expand our business. This information can be accessed by the managers through per capital Gross Domestic Product, population, transportation as well as GDP of the countries where our company is willing to expand its products and services. The information can also be acquired through both print and non print media, business journals and other international news. This information will help our managers in determining our consumer’s spending power. It is also important that our managers put into consideration the stability of the currency in the global markets. This information can be obtained from the home countries business documents (Pinson, 2008).
However, our profitability and production will also assist in laying down good strategic plans. We will also make use of promotional strategies which will include, media, electronic marketing, billboards among others forms of advisement in order to create awareness of our business objectives and plans into our target countries. The promotional strategies will help in acquiring a substantial market share.
Implementation Steps
In order to prioritize the implementation steps needed to achieve the strategic objectives, the company will have to ensure that there is tight integration between its business, performance and knowledge of its managers as well as it human resources. However, the company will extensively rely on management levels in order to implement the international strategy. Partnership formation, getting already existing business as well as manufacturing of products which will impress our potential and target customers forms our major principle that will help us in achieving our strategic objectives (Socrates Media, 2005). We will also be required to consider political, cultural as well geographical differences as another major principle as far as our international strategy implementation is concerned.
Business competition will also form part of the major principle in implementing the international business strategy. Our managers should consider the market share, sizes prices of competitive products. Preferences, consumer needs, labor relations as well as cultural differences should also be considered before the strategy implementation (Socrates Media, 2005). The Company will also need to focus on better performances in the global markets through provision of appropriate business systems, process and policies. Notably, the company will also require engaging transition analysis which will offer comprehensive and long term benefits in the global markets (Socrates Media, 2005). Most importantly, the company will endeavor to embrace technology which will allow sharing of information and resources which will quicken the process of implementation. An evaluation criterion will also be important as it will help in putting the business strategy under scrutiny. It will also help in enhancing the performance of the company. Finally, global business standards, security and infrastructure will also be need in order to ensure good strategies implementation
Post Implementation.
In order to evaluate the effectiveness of global market penetration, our company needs to establish good communication and communication systems. This will help in ensuring that, there is good flow of communication which will help in identifying the company’s weakness, threats, opportunities as well as strengths as far as global market penetration is concerned. Managers should also assess the advantages and disadvantages of the potential market. However, contact with the managers as well as other employers will also help in indicating whether or not the strategic process employed in order to penetrate in the international markets is fruitful. We will also need to set out an effective control framework which will help in responding to strategic plans development.
Conversely, the company also needs to identify the effectiveness of its business partners especially in places where it required partnership in order to get into the international markets. The partner’s effectiveness can be measured through their production in the company as well as their role in ensuring that the company implements all its strategic plans accordingly (Jennings, 2005). The profit level that is set aside as well as invested capital profitability will also help in measuring the effectiveness of the company in the global markets. The level of collected turnover for every nation where the business has been expanded to will also help in identifying the effectiveness of the international strategy set help the Able Company compete and operate in the global markets.
Legal and Ethical Issues
As a company, we need to consider governmental regulations and moral issues in the implementing our international strategy in the global markets. We will need to recognize and respect the culture of these nations with an example of language. In additional the governments regulations and requirements such as company’s legislation and a country’s currency should be adhered to (Jennings, 2005).
Conclusion
Implementing an international strategic plan requires manager’s cooperation. The managers play an essential role in designing as well as implementing the strategies which helps the company to perform well in the global markets. Among the key consideration before strategy implementation is competition while a control framework to evaluate business performance should be set after implementation of the strategy.
Reference
Jennings, M. (2005).Business: its legal, ethical, and global environment, New York: Cengage Learning
Pinson, L. (2008). Anatomy of a business plan: the step-by-step guide to building your business and securing your company’s future, New York: aka associates
Socrates Media. (2005).Building A Successful Business Plan: Advice From The Experts . Chicago, IL: Socrates Media, LLC, 2005
