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Developing a global strategy ineed is a great challenge in the current scenario when market is changing regulary and conventional strategies stands challenged. Here is how we can develop a global strategy as per the new requirnment.
1. Studying and understanding the current market scenario.
2. Studying our Goal and Mission.
2. Identifying where our current strategies are not working properly.
3. studiyng the Market strategy.
4.Reviewing our strategy in alignment to our goal and mission and Market.
5. Taking feedback from the Staff on our startegies. (Believe me their feedback can revive the organization,Remember the Colgate strategy).
Global strategy is about evaluating good practice successful at a local geographic level applied to a new geographic canvas. Global strategy does not mean being present across the globe e.g. 3 continents,8 countries and 16 cities. Global strategy means using the Ansoff matrix to extend scale or scope of operations by first looking at one's core competitive areas, extending product line or service in tune with local culture and regulatory requirements. With chaos being the order of the days and months to come, it boils down to how MNC carve our region specific tactical and operational strategies to be implemented in silos for the affected region or value chain segment of the specific industry. The fne balancing act of a company wide corporate strategy loosely linked to region or city specific tactical strategies (e.g. London financial markets in case of Brexit) would become the norm of global strategy. Thus strategy will not be cast in stone for a firm but rather be a amorphous in nature based on a specific geography, segment of customers in a specific city, product mix by a region's or city's demographics. In a nut-shell, successfully implemented global strategy is metaphorical to becoming like a amoeba multipyling based on environment requirements however maintaining a common dna thread. Thanks
every strategy must be adjusted to the time and place in which is to be implemented. Today, the "global strategist" must have education, which covers many industries including implementation.
Conventional strategies are failing?
No strategy can really be global. You can have a global obejective but the stategies will have to be different for different geographies, cultures, demographics etc.
If you try to COPY N' PASTE a strategy that has been succesful in one or a few countries to all other countries the likelihood of failure is very high.
One must think globally and stratagize locally to ensure success.
Let's get back to basics!
To develop a strategy you need first to survey the Economic Outlook, The Legal Environment and Market Conditions.
When you understand the factors underlying the above in each respective country you would like to apply your startegy in, identify the common factors and the differntiators, you should be able to see how your specific elements (vision, mission, competitive edge/core competences, etc.) can be applied
The rest are details .... the devil lays in the details ....
Sometimes "Segmentation" is a good compromise, where you can segment your target markets into regions of common "Macro" similarities and design a sub-set of your Global startegy to take care of the variations in segments characteristics
Thanks for invite
analysing the markets in which the company is already engaged – perhaps only in one country, perhaps in several but without a fully-developed international strategy. In addition, the company should also begin looking at the prospects around the world for its products or services – not in detail by individual country, but in general terms
