The paper "The Concept of International Business Management" is a great example of a business assignment. The report would discuss the concept of international business management and the various aspects of undertaking business venture abroad. It would deal with the process of creating a comprehensive strategic management process and the components that are essential to be analyzed before formulating such a process. The report would further discuss the various modes or channels through which an organization may enter the international market. It would discuss the advantages and disadvantages of these modes of entry.
Further, the paper would elucidate on the concept of strategic alliance and its importance in conducting business in the international markets. Communication with the partners and clients is an important component for the success of an international venture. Therefore, the paper would focus on the various elements of effectively communicating with the partners and clients. The concept of strategic control would also be discussed in the paper and recommendations would be provided to address the issues arising from international strategic control. International business strategies 1.1. Define international business strategy The ongoing and comprehensive process of management planning that focuses on implementing and formulating strategies that help organizations to efficiently compete in the international market is known as international strategic management (Fisher, Hughes, Griffin, Pustay 2006).
The process involves the formulation of international strategies in order to achieve a strategic cohesion between the resources and competence of an organization with the international business environment the company envisions to operate in. Such a process is essential for any organization to formulate as it helps it to compete effectively with other leading organizations operating in the global market (Hannagan 2002). 1.2.
Issues in developing international strategies While formulating international strategies, an organization needs to consider various parameters which include dealing with various governments, different currencies, various political and legal systems, diverse cultures, language barriers and difference in accounting systems.
Bennett, R. K. (2008). The $2,500 car: exactly a century after Henry Ford introduced the Model T, Tata Motors of India is set to launch a new people's car, writes Ralph Kinney Bennett. Is another revolution ahead?. The American, 2(1), 20-25.
Booz Allen Hamilton (2001). Smart Alliances: Global growth strategies: buy, build or band together. Booz Allen Hamilton Report.
Fisher, G., Hughes, R., Griffin, R. and Pustay, M. (2006). International Business, 3rd Edition. Pearson Education Australia.
Hannagan, T. (2002). Mastering Strategic Management. New York: Palgrave.
Hartel, E. J. (2004). Towards a Multicultural World: Identifying Work Systems, Practices and Employee Attitudes that Embrace Diversity. Journal of Australian management, 29 (2), 189-200.
Johnson, G. and Scholes, K. (2002). Exploring Corporate Strategy. London: Prentice Hall.
Kuglin, F. A. and Hook, J. (2002). Building, leading, and managing strategic alliances: how to work effectively and profitably with partner companies. New York: AMACOM Div American Mgmt Assn.
Lewis, M. A. (2003). Cause, consequence and control: Towards a theoretical and practical model of operational risk. Journal of Operations Management, 21 (2), 205-224.
Lymbersky, C. (2008). Market Entry Strategies: Text, Cases And Readings In Market Entry Management. Hamburg, Germany: Management Laboratoy Press, pp. 67-250.
Onkvisit, S. and Shaw, J. J. (2004). International marketing: analysis and strategy. New York: Routledge, pp. 243-271.
Reuer, J. J. (2004). Strategic alliances: theory and evidence. New York: Oxford University Press.