BUS357 Week 4 Discussion 1 Global Strategy

Typical Steps in Organizing Strategic Planning:

Most strategic planning models are structured similarly, with clear procedures to follow. The usual process entails: Assess the organization’s SWOT first to see where it stands. A SWOT analysis is commonly performed to assess a business’s strengths, weaknesses, opportunities, and threats—the Creation of a Mission and Vision: Crucial Elements in Strategic Planning. A company’s mission and vision statements sum up its values and goals. The organization’s goals and objectives are established in light of its mission and vision. Objectives should be SMART.

Real-life Example of Value Chain:

A corporation’s design, production, marketing, delivery, and support procedures make up its value chain. Streamlining these processes benefits both customers and businesses. The supply chain of Apple Inc. is highly efficient. Apple’s value chain kicks off with the Creation of new products. The corporation manages Quality and expenses thanks to its vertically integrated production. Brand loyalty is cultivated via Apple’s marketing and retail approach. Apple’s customer support services are an additional link in the company’s value chain. Customer loyalty and retention are increased through AppleCare and straightforward interfaces (Yapici, F. et al. 2021). Apple can differentiate its products, charge premium prices, and maintain its technological advantage thanks to its well-managed value chain.

Value Proposition and International Expansion:

The unique advantages offered by a company are highlighted in a value proposition. The strength of a company’s value proposition is the key to its global competitiveness. The intended audience must find it appealing and fulfill their needs. Real-life IKEA, a Swedish furniture retailer, is an excellent example of how a strong value proposition may facilitate international growth. IKEA is a great place to find reasonably priced, practical, stylish furniture and home decor. As it expanded abroad, the company ensured its value proposition reflected local customs and preferences. IKEA creates products that are suitable for consumers all over the world (Gharehchopogh F. S. et al. 2021). IKEA’s furniture is ideal for the smaller apartments and condos standard in many Asian countries. In the Middle East, IKEA is a go-to retailer for furnishing entire homes. With its flat-pack and self-assembly concept, IKEA saves money on shipping and storage while catering to the independent spirit prized across cultural boundaries. IKEA has expanded internationally by staying true to its core competencies while making necessary adjustments for local markets. Strategic planning, value chains, and value propositions are crucial to the expansion and success of a company on a global scale.

References

Furugi, A. & Yapici, F. (2021). Optimization of production parameters in oriented strand board (OSB) manufacturing using the Taguchi method.

Ghafori, S., & Gharehchopogh F. S. (2021). Advances in spotted hyena optimizer: A comprehensive survey. Archives of Computational Methods in Engineering, 1–22.