BUSINESS STRATEGY IN A GLOBAL ECONOMY

Business Strategy in a Global Economy

Introduction

In today's modern world, all the businesses have developed dramatically, and are running on a global basis. The competition between these businesses has also grown reached newer heights. In order to compete in such a competitive environment, it is necessary for the businesses to develop business strategies that are beneficial for these businesses, and will also help them in succeeding. Moreover, dealing in a global environment is also much difficult than conducting the business in one location. This is so, because of the difference in the economy, and the economic conditions of all the different countries of the world. Therefore, in order to deal with all these issues of, high competition, economic differences of all the countries, it becomes essential for all the companies to build their business strategies (Behrens, Henning, 2010).

Discussion

Business Strategy

In the business world, what rules is the strategy. The strategy that has is adequate to survive and succeed. You can commit a certain amount of error in the life of a company and is in fact what happens, but is not permitted to err on the grand strategy (Behrens, Henning, 2010).

Strategic business development

Strategic business development is a process guided by a vision, mission or dream, set and action plans, define priorities, resources and means available, including a realistic assessment of the environment and the company's own abilities to achieve those goals or mission. This is achieved, not only with careful analysis and assessment, but with a large conviction, knowledge, intuition and deep values (Behrens, Henning, 2010). From the first idea until the final action of the process, development business strategy is a matter of values. The values ??of the people are which originated and conceived strategies, and then puts them into action. For Therefore, the quality of human resources available to the company will be key to success in business, like no other resource (Behrens, Henning, 2010).

The decisive factor in the process is not the amount of resources, but the quality and the best available to them. The business strategy includes answers to questions such as:

What market segments the company to compete?

What are the objectives for each segment?

What are the external opportunities and threats?

What are strengths and weaknesses?

What and how many resources will be mobilized to achieve these objectives?

What competitive advantages must be developed and maintained?

Are these substantial, sustainable and a key factor in business?

How will the cohesion of the various departments to meet the task?

What is the best time for implementation?

What will the competition to these actions?

How will the company? (Behrens, Henning, 2010)

Dangers of the theory of marginality

In some circumstances, companies add no marginal objectives study the consequences, ie without adding or redistributing resources, and without an appropriate strategy. It is simply one more point that must be met, marginal. "Since we are attacking this market, go with this additional to leverage our distribution power, or our desk and window.” "If we add this to the price list of our vendors, we have higher ...