The Non Market Strategies From A Management Process That Incorporates Knowledge Of The Market And Nonmarket Environments

Globalization has, for better or worse, altered the economic arena for every country in the world. For many less developed countries, globalization has leveled the playing field so that their economies can compete with the larger, more developed ones such as the United States and other large western economies. For instance, technical engineers in India and China are now just as qualified as engineers in America, but at half the cost. The once large and prosperous service sector in the United States as well as telemarketing services have largely been sourced to India as a large exodus of American multinational corporations find cheaper workers who deliver comparable quality. This then seems to be the essence of globalization - businesses

The risk that comes with globalization connects between countries, culture and businesses. In today’s society, managers have more to deal with as the idea of outsourcing and cultural differences have made things a bit complex for the parties involved. Some companies might feel going to different countries for business could become a liability. For instance, if a U.S. company goes to Japan, events like the Japanese 9.0 magnitude earthquake that killed 20,000 people could cost them. This limitation of globalization effects everyone involved. Supply chains around the world were disrupted from the manufacturing plants being shutdown. In addition to natural disasters, there are also political, economical and financial risk to consider. However, a positive aspect of globalization is that is creates jobs for the economy. For those who couldn’t work due to the lack of jobs already in their country, they can now earn money to feed their families and establish a working class.

It also states in the textbook strategic marketing problems it defines market development strategy as a strategy where an organization introduces its existing offerings to markets its not currently

companies like Kellogg’s or Smuckers want to promote within schools. A non-market strategy is an influence for groups to have soft power on their competition/ or an involuntary impact. The difference between the market and non-market is a market stakeholder is involved with revenue. A non-market is unrelated to the financial operations.

A Following a different generic business strategy within the same industry can lead to a competitive

Markets differ in a variety of ways including the degree of concentration and competitiveness, a fact which is reflected in the concept of ‘market structure’. Economists’ models link the structural characteristics of a market to the behaviour of firms in that market and subsequently to their performance. A key question therefore is how far a firm’s strategic decisions are shaped by the structure of the market in which it operates.

Cadotte, Ernest R. & Bruce, Harry J. (2003). The Management of Strategy in the Marketplace.

How does the Orphan Drug act affect the drug industry’s viability in continuing research and development of medications for the rare disease population?

A number of competitive strategies have been stated by studies, such as the classification system created by Chrisman et al (1988). However, the generic strategies identified by Porter (1985) remain the most popular theory over the years (Allen et al, 2007).

According to Dictionary.com, the definition of globalization is “to extend to other or all parts of the globe; make worldwide” (Dictionary.com, 2008). Globalization can have a huge impact on the four functions of management. In order to achieve success, a company must have a plan or goal set in action. Once a company decides to go global, it has to decide its market. For example, Disney has over 25

The rapid pace of Globalization has led to a change in the global economy during the past several decades; it is believe that factors such as trade liberalisation, access to cheaper labour and resources, similarity of consumer demand around the world, and advances in technology and communication has widened the market of consumption, investment as well as production on a global scale. These globalization driven factors created new challenges and global competition for businesses around the world thus as a response many companies decided to expand their operation across national borders in order to be competitive. A company that operates their business in at least one country other than its country is called Multinational

Cheetah / Hyena video  Analogues to business world o Make kill, but can you hold when scavengers come o Eat fast if you’re a cheetah  Value Creation o Economic Activity  Value Capture o Power, Leverage Companies you create (value you create) must be cognizant of game to come (value capture) Boeing  Site distribution throughout US, most Congressional districts o Helps when applying / bidding for contracts o Decision making process in Congress  If only worried about “capturing an antelope” (market environment), wouldn’t design locations for supply chain this way  Recognizing hyenas (non-market environment effects) o How to ensure capture value o Spread out across

Globalization offers industries many ways to increase their profits. Since businesses and corporations have access to a wider range of potential clients, they have a chance to increase profits. Global competition also

As trade increases hyper-competition grows forcing organizations to go global. By a company going global it requires them to rethink strategy and reform (Ananthram and Pearson, 2008). Global organizational structure is the way a company aims to merge local preferences with global strategy. The definition of global strategy is “strategic choices that have the characteristics of being globally uniform or integrated,” (Yip et al., 1997) such as standardization of products, uniform marketing, and competitive moves, but all globally (Townsend et al., 2004; Zou and Cavusgil, 2002; Bayraktar and Ndubisi, 2014). Global strategic strategy is a way to adjust to globalization. Globalization is “the economic and social process by which economies and communities grow inextricably interdependent “(Jhirad et al., 2009). The recent financial crisis (Das, 2010), large amount of poverty, and climate change are all problems that show how the world is globally connected because all countries impact each other (Jhirad et al., 2009).

He goes on to imply that business must make global strategies that would involve making investments in as much countries as possible. Rajdeep, Murali & Robert (2008) agrees with Tallman, as he extends his view that these strategies must become more flexible and effective to comply with needs of the changing environment.