Strategic Management in a Global Environment Essay

In this example essay, we will discuss strategic management in a global environment. 

Strategic management applies to the ongoing process such as monitoring, planning, analyzing, and assessment essential for companies to achieve their objectives and goal.

Strategic management is the strategy to plan, execute, judge, and analyze actions taken to accomplish company goals and objectives.

 

Importance of Strategic management:

 A strategic management process helps company leaders to think and plan for futuristic goals. Strategic management establishes a way for and employees and the organization. Unlike other strategic plans, efficient strategic management consistently plans monitors, and tests company activities, following higher market share, operational efficiency, and profitability.

Strategic Management for Global Market

Global strategic management refers to the strategies that a business or an organization makes to expand and compete in the global market. Moreover, a company plans to target the market beyond its borders regarding importing, exporting, investing, and other business activities.

The global strategic management covers three strategies as followed:

Global Strategy

A global organization is present in numerous countries and allows investments from multiple countries. Besides, A global company markets its products and services with a unique coordinated brand or image in each market.

Often, a company has one main corporate office to control worldwide strategies. A global management strategy requires believing in an integrated approach to all business aspects such as its markets, production sites, competition, and suppliers. It involves importing and exporting every product or assessing each service from the outlook of both national and global market standards.

Multinational Strategy

A multinational business runs in different countries and also has investments in various countries. It has staff, premises, and businesses in more than one nation.

However, it does not offer coordinated products. A multinational firm concentrates more on trading its goods and services to particular domestic markets.

Transnational Strategy

A transnational business has operations in multiple countries. The company has investments abroad and at home as well.

However, there is not one decision-maker. The managers or directors of an individual market can make decisions for their particular regions. 

Moreover, local management takes decisions on research and development and marketing policies of the company.

International Management Strategy

An international business does the imports and exports of goods between two countries. It has suppliers in a foreign country and sells its goods or services to customers abroad.

However, the company does not have any foreign investment, offices, branches, factories, utilities apart from the home country.

 

What strategic management process UAE follows to a global market

The UAE has been expanding its economy into non-oil sectors like energy, finance, foreign investment. In 2018, the free zones of UAE made foreign investments easy after penetrating the law of having native shareholders, and now companies can have 100% ownership. 

UAE is the biggest exporter of oil and gas in the world. It is the center of the transportation service of the world. Hence, it plays a significant role in the global market.

Advantages and Disadvantages of Global Management Strategy

Global strategic management gives a decent insight into the impact of globalization on company management. The global management strategy has its advantages and disadvantages, discussed below:

Advantages of global management strategy

• Scope and Power
• Marketing uniformities
• Scaling Economies in distribution and production
• Capability to implement better ideas efficiently and quickly
• Cheaper marketing costs
• Brand image consistency
• Benefits to building connections out of the political region

Disadvantages of global management strategy

• Diversity in customer acknowledgment to marketing mix factors.
• Inequalities in client requirements, desires, and usage for multiple products.
• Variations in goods installation at the market.
• Differentiation in the organizational process among different employers and employees.

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