Internationalization Strategies Essay Example | Topics and Well Written Essays - 2250 words

Internationalization Strategies - Essay Example An organization can also have facilities and economic interests in several countries. According to Hitt, Ireland, Hoskisson (2011), the main reason firms go international is to extend the lifecycle of their products. Firms require expanding to secure required resources. Supply of raw materials has caused many Chinese companies to expand internationally. Industries such as electronics and clothing move their operations to foreign companies due to lower production coasts. Industrialization in different countries has caused similar demand for products. This has caused pressure in several companies to integrate their operations globally. People in developed countries have similarities in lifestyles and companies are forced to expand globally to meet increased demands. Business level- integrated cost leadership and differentiation Every business requires a competitive strategy in its domestic market. In international business the home country is the main source of competitive advantage. T he ability of a firm to expand into international countries depends on the resources and abilities established in the home country. However, as the business expands into the global market, the home country becomes less significant in providing competitive advantage Hitt, Ireland, Hoskisson (2011). As stated by Michael (1998), this advantage occurs in two types: cost leadership and differentiation. ... dership and differentiation are integrated actions aimed delivering goods or services at prices lower than competitors with features acceptable to customers. A business requires efficient scale facilities and control production costs and overhead tightly. Monitoring costs of competitor products helps an organization adjust its prices to lower levels. Advantages The firm concentrates on a segment of customers and tailors its strategies and resources to its service. Hoskisson (2008) argues that strategic competitiveness is achieved when the firm satisfies a group of customers. The firm is committed at providing customers with superior value to gain advantage over competitors. This helps a company increase its profit. For example, Ford Motors estimates that increase in customer loyalty creates approximately $100 million additional profits annually. Firms concentrate more on their core business activities. Firms channel most of their resources on core activities and carry out innovations aimed at satisfying their customers. SAS institute is a software company that allocated more than 30 percent of their revenues to R&D. the firm concentrates on its core competences to serve customers such as the U.S bureau. Companies maintain low costs while serving a wide segment of customers. In the case of airlines, flight attendants may be required to purchase their own uniforms and customers are charged to check luggage. Flight attendants spend time selling products like water, digital cameras and MP3 players to passengers. Global companies can participate in e-commerce. This improves customer relations management. Careful integration of technology in a firm increases successful competition of a business. CEMEX SA, a Mexican global cement company, uses the internet as a link between

Media kit Assignment Example | Topics and Well Written Essays - 500 words

Media kit - Assignment Example CCMSRC therefore needs to exploit these channels to deliver its objectives to younger Maltese population that is increasingly losing their traditions and culture. The media kit for engaging young Maltese population would feature extensive use of social media. The media kit is a vital ingredient of communication that uses myriad ways of releasing important information regarding community activities. The kit for CCMSRC would include media release, information sheet about the events and the client. Most importantly, the invitation letters would be posted on all the social media and website so that it gets wider audience cutting across the culture, race, age and nationality. This is one of the key objectives of the media kit as it would help to revitalize and mobilize constructive energy not only from the young Maltese population in Central Coast but also from different parts of Australia and the world. Chanan and Miller (2013) believe that fundamental building block of community life relies on the effective communication and social networking. Thus, media kit that is designed to target wider segment of population, especially young Maltese population in Australia would help inject young blood in the flagging CCMSRC. CCMSRC is important organization in Australia that helps to keep alive the Maltese traditions and culture. It organizes various events and festive celebrations for members in Central Coast, Australia. The media release is intended to enable the members to become proactive participants in the events and inject new ideas. Community development involves understanding the social changes and adapting them within their own culture in order to maintain their unique identity within the diverse populace of the globalized world (Homan, 2011). Media releases therefore have emerged as critical paradigms of the cultural activities of the communities. All social media like