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See all Premium member Presentation Transcript International Business Strategy : International Business Strategy What is International Business Growing importance of International Business International Business Strategy : International Business Strategy Difference between Domestic and International Business The Global Business Environment Analysis of environmental factors of International Business Impact of Technology Economic, Political Environment Introduction : Introduction Co-existence or No existence-Bertrand Russell Globalisation has brought closer the neighbourhood but not the brotherhood-Lyndon B. Johnson Priciples of Co-operation practised during Raifeeisen period Vs. Globalisation Contd/… : Contd/… The world is without walls In a global village, we cannot remain in the cocoons Introspection of the policies followed by India since independence Rigid policies, protectionism,licensing, FERA Contd/… : Contd/… ‘Stringency of regulations have given rise to more number of criminals’ Winston Churchill the then PM of UK predicted in 1942-”If India is given freedom, the country is going to be ruled by Rascals, idiots, bootleggers, and the country would not save the community from paying taxes on even the air we breathe” Go West, Young Man : Go West, Young Man India is more than another BRIC in the wall FDI,FII poring in-Usd 6bn during april-oct 2006 could cross USD 10 bn by march 2007 Eg: Tata Steel acquired Anglo Dutch Firm Corus for USD 8bn,Videocon –Daewoo Elec for Usd 684M, Dr.Reddys-Betapharm for Usd 572M Aban Lloyd-Norwegian oil major Contd/… : Contd/… Sinvest Usd 425 M and Suzlon Energy-Belgium’s hansen transmission for Usd 565M Contd/.. : Contd/.. MNC interest in India likened to cowboy invasion opined –Secretary general of industry chamber Swadeshi group dubbed that India would reduced to an economic and financial banana republic. Where are they to-day? Indian entrepreneur far more stronger,India no longer a service engine Slide 9: Boston Consulting Group (BCG) state amongst BRIC economies out of 100 cutting edge firms a fifth are Indian-all due to opening up in 1990 No longer a country of poor,exotic land of snakes, palaces, India prove that they are more than a BRIC in the wall : India prove that they are more than a BRIC in the wall Next year is expected to see US led downturn, India’s chances lies in turning that into an opportunity It’s a triump over challenges, we are ‘global managers’ Fortune favours the brave-shrewd,knowledgeable,diplomatic,industrious and assertive kind Cultural & its Importance : Cultural & its Importance Marketing, finance,production or personnel must be accurately aware of attitudes, feelings and opinions in the local environment MNCs have realised through costly blunders A vital ingredient that make up the overall international business strategy Social & Cultural : Social & Cultural Language, customs,traditions, beliefs,tastes, preferences,social institutions,living habits,eating habits etc influence consumption Helps decide type of product or service Culture based on social inter-action and creation : Culture based on social inter-action and creation Irrespective of religion, caste,needs are same Common needs are cultural universals Enable marketing products modifying per needs Difficult to define culture-Eg: GE took over French Co organised a seminar, provided T shirs with Slide 14: Slogan “Go for one”-response was “It was like Hiltler was back forcing us to wear uniforms It was humiliating” Keeping of accounting records as practised by GE diametrically opposite to French Adopted cost cutting measures, profit hungry culture,putting English language posters GE flags-A leader cmmented “they came in here bragging, ‘We are GE we’re the best and we have got the methods’ Negative influence : Negative influence Example illustrates companies that have proven experience can run aground on unseen cultural reefs To avoid negative consequences of cultural clashes, vital to understand what culture is and how it can be systematically analysed Essence –u can see,hear,touch,smell or taste.Consequently, people who take this, Culture of merger and merger of culture : Culture of merger and merger of culture view often point to ceremonies, clothing, historical landmarks,art, and food as examples of a country’s culture. Question is however “Why?” Iceberg of culture-artifacts(visible),Values(invisible) ,Assumptions-well below the surface but cause values and artifacts and can sink your ship Mental Roadmap : Mental Roadmap Mental road map with traffic signals and signs Tell you ‘highways,’lowways’,right of way,when to stop,how to signal a left turn, U-turn, allowed, prohibited ans so on. Imagine being put in the middle of the heart of Tokyo free way with no map, no road signs, and no idea of rules concerning speed, changing lanes, following distance, or even which side of the road to drive on Just like violation of traffic rules : Just like violation of traffic rules To punish or not to punish Conceptualise the rules along two dimensions-the extent to which they are widely shared among group members- Narrowly shared, deeply held Widely shared, deeply held Narrowly shared, shallowly held Widely shared shallowly held HR & ther policies : HR & ther policies Management philosophies are culturally conditioned Skill to learn cultural differences Managers with cross cultural skills can mange effectively Global outlook, global business mean global culture and global family HR : HR Actions, behaviours, habits Food, transportation, rules Decision making processes Problem solving approaches Leadership practices Interpersonal styles Time frames Titles, authority Power distance Uncertainty avoidance Individualism, collectivism Masculinity, femininity No escape from Globalisation : No escape from Globalisation Knowledge about cross cultural issues –the most crucial element for a successful manager especially when workers are of different ethnic origin, demographic variables Indepth knowledge is ‘sin qua non’ to-day Global Manufacturing and Materials Management : Global Manufacturing and Materials Management Challenges of international trade Global sourcing and global sharing Form of economic integration-interdependence beneficial to both developing and developed Doing or planning to expand business globally Giving up the distinction between the domestic and foreign market Globalised deals : Globalised deals Locating the production and other physical facilities on a consideration of the global business dynamics, irrespective of national considerations Basing product development and production planning on the global market considerations Global sourcing of factors of production ie raw materials, components, Globalised management : Globalised management machinery,technology, finance etc obtained from the best source anywhere in the world Global orientation of organisational structure and management culture. Source raw materials wherever they are cheapest Manufacture wherever in the world is cost effective Sell in those global markets where prices are highest Global manufacture/management : Global manufacture/management Raise finance globally To manage all these, take on the best talent from all over the world Code of conduct Case studies Global Marketing : Global Marketing Success is satisfying the market Product strategy, product planning,product management, product decisions Market segment decisions, product mix decisions, product specifications, positioning and communications decisions Product Life Cycle- PLC : Product Life Cycle- PLC Introduction, growth,maturity, decline Comparable to that of the life of a person or a cricketer New product development Innovative product, aignificantly modified product, copy of the existing product Idea generation, evaluation and selection, concept testing, business analysis, product development, market testing, commercialisation Global Marketing : Global Marketing When, where,whom and how to market Branding and decisions on branding Global brands-eg colours, symbols, languages, brand name, packaging, labelling, export packing, packaging, IIP Pricing : Pricing Complex and difficult Cost, demand, competition Fixed and variable costs Market penetration, skimming, profit maximisation, breakeven price, transfer pricing Product differentiation influence Exchange rate, duties, incentives Consumer income levels, importance of the product, image, govt factor Incoterms : Incoterms Export price quotations Role ICC paris Rights and obligations of the exporter and importer Various terminologies with examples Case study International Human Resource Control : International Human Resource Control Introduction Business ethics and values Importance of relationship marketing International HRM strategy Conflicts between corporates and national pressures Impact of religion and culture Labour markets-skills and training Exercises Introduction : Introduction Lives disrupted, challenged, influenced by economic downturn, a major terrorist attack on the US, countless terrorist attacks around the globe, wars in Iraq, Afganisthan, even called ‘genocide’ coupled with hurricane in US, flooding, tsunami, stormy political campaigns. Corporate ethics and inadequate leadership have tainted the business environment, rewarded by prison or Introduction : Introduction Multimillion dollar buyouts of executive contracts. Amidst turbulence corporate leaders need to develop and introduce new products and services, penetrate markets, apply technology, motivate their workers, and generate bottom line strength. Cannot be achieved without competent, dedicated workforce Winners from the Whiners : Winners from the Whiners That is the secret ingredient that will separate the winners from the whiners Velocity of speed-astonishing propositions Better employee relations and strengthening workplace stability Catch 22 situation-”jump in water, don’t swim and don’t sink also” situation-Kachittu kazhikkan vayya, madhurichittu thuppan vayya Business Ethics and Values : Business Ethics and Values Fair practices, country specific, respect, Dharma or right path, Artha-the pursuit, creation and acquisition of wealth, Kama-fulfillment of all legitimate desires and enjoyment of all socially sanctioned pleasures “Do not rob Peter and pay Paul Moksha-seeking release, liberation from pleasure and pain Role of Dharma in HRM –read Bhagwad Gita : Role of Dharma in HRM –read Bhagwad Gita The Rockwell Values-respect for the individual, honest, open communication, obligation for the well being of the communities in which we live and work, maximising the satisfaction of our customers, maintaining the highest standards of ethics and integrity in every action we take and everything we do. Unquesationed integrity Follow ‘dharma’ in the creation of wealth Survival of the fittest : Survival of the fittest Thirudathe, Poi cholladhe, pitchai edukkadhe As long as talent is there, exploit it to the tilt to achieve the desired objectives to remain competitive in the global race of competition Global HR-a shock absorber between worker and management Do not be cruel to nature Management strategies : Management strategies Participative Management Union strategies Staffing strategies Industrial relation strategies Organisational perspectives MNC strategies, ESoPs, disciplinary actions, refer to Artha sasthra principles Recruitment and Training : Recruitment and Training External recruitment agencies Sources of recruitment-walk in, consultation, head hunting, Body shopping, business alliances, tele-recruitment, bill boards Labour markets-skills and training-internal sources,external sources Labour Standard : Labour Standard International labour standards, skills, training Welfare measures like Keyman insurance,travel not by the same flight, right person in the right place, reward and recognition, rest and recuperation, punishments, deadline etc Conflict : Conflict Conflicts are natural and inevitable part of life Affect performance, cause division Arise on account of age, gender, power plays, threats, intimidation, insecurity, incompetence Termination Conflict : Conflict ‘principles of equity and reciprocity’, ‘give and take’ Harmonious relationship is the policy-complementary role and not competitive role Define role of manager and reportee, team work Communication –two way Problem solving –case study Grievance Redressal System-ombudsperson Accounting in the International Business : Accounting in the International Business Transfer pricing of MNC Investment decisions Foreign exchange risks A live discussion on the above topics in respect of a corporate Conclusion C M Lakshmanan SAP- Stipendary Assignment Programme : SAP- Stipendary Assignment Programme Develop skills-selling, marketing, communication and presentation Develop overall personality Understand the dynamics of the market place Earn while learning Get work experience while studying-industry contacts .1/… : .1/… Would not spare taxing the community on even the air we breath” Trade barriers-tarriff and non-tarriff –consequences Self-reliance Vs. ‘export or perish’ advocated by Pt. Jawaharlal Nehru Contd/.. : Contd/.. In order to be competitive in the global world, what is required!! Liberalisation, privatisation, globalisation You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.