Strategic Management in a Global Context

This essay sample on Strategic Management in a Global Context Essay for Singapore students. We will cover the topic of Global strategic management: Overview, Characteristics of Global Strategic Management, Stages of the process, Benefits of Global Strategic Management, Challenges, etc.

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Introduction- Strategic Management in a Global Context Essay

Strategic management is an important part of any given business in any industry. Similarly,  Strategic management in a Global Context holds even more important to the concerned businesses. In this sample essay, we shall be looking at the same. Thus, without further adieu:

Main body- Strategic Management in a Global Context Essay

Global strategic management: Overview

We can say that “Global strategic management” refers to the process of identifying the goal and planning to reach it. However, it is not a thing in itself. What it means is that it refers to a combination of three different areas. These are namely:

• Global strategy
• Multinational strategy
• International strategy

More or less, these three strategies are used to allow an organization to reach its international objectives and business-related goals. In addition, organizations use these strategies in order to gain a competitive advantage over their opponents.

Nevertheless, some Singapore industries get more benefits from this strategy. In fact, some markets offer better comparative advantages. Thus, a manager or organization must first understand the global industry to make full use of these strategies.

Moving on, we shall be looking at the Characteristics of the same in the next section of the sample essay.

Characteristics of Global Strategic Management

Every concept is defined by certain characteristics. Similarly, there are few characteristics of global strategic management too. In this section of the sample essay, we shall be looking at the same.
Thus, these are, as mentioned below:

1. Higher levels of management are involved in it
2. Global strategic management is resource extensive
3. It influences an organization’s long-term prosperity
4. Global strategic management is future driven
5. There are Non-self-generative decisions

So, these are some of the important characteristics of global strategic management. Moving on, we shall be looking at the stages of the same process in the next section of the sample essay.

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Stages of the process

We know that global strategic management is a process. Thus, this process has several steps. We shall be looking at these steps in this section of the sample essay. Thus. without further adieu:

1. Determine the organization’s goal
2. Conduct analysis and gather information
3. Create a relevant strategy
4. Applying the strategy
5. Evaluate the results and adapt accordingly

So, these are the five-step process of global strategic management. Moving on, we shall be looking at the benefits of the same in the next section of the sample essay.

Benefits of Global Strategic Management

There are several benefits related to the process of strategic management in a global context. Therefore, We shall be looking at some of these, below:

• It helps the organization improve their profitability,
• Organization can improve their sales
• It considerably improves productivity
• Allows better understanding of opponents plans
• It allows smoother transactions
• It encourages better order and discipline within the organization

Challenges

Lastly, we shall be looking at the  Challenges faced during the process of strategic management in a global context. Therefore, These are, as mentioned below:

• Internal politics can affect the results
• The concept is rather theoretical than practical
• An environmental analysis can be incorrect
• If an organization has a traditional management system it can pose issues
• There are limitations related to the assumptions made in the process.

Conclusion:

In conclusion, this essay argues that a global perspective is important for strategic management. The globalization of markets and the need to manage in a complex environment necessitates an understanding of how people think about themselves as well as their culture. We hope you’ve enjoyed reading our points on why taking a global view is so critical when it comes to making decisions related to strategy. If not, we invite you to read more from us by clicking here!

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