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in each country ? Products and services are tailored to local markets ? Business units in one country are independent of each other ? Assumes markets differ by country or regions ? Focus on petition in each market ? Prominent strategy among European firms due to broad variety of cultures and markets in Europe 16 International CorporateLevel Strategy: Global Strategy Global strategy ? Products are standardized across national markets ? Decisions regarding businesslevel strategies are centralized in the home office ? Strategic business units (SBU) are assumed to be interdependent ? Emphasizes economies of scale ? Often lacks responsiveness to local markets ? Requires resource sharing and coordination across borders (which also makes it difficult to manage) 17 Transnational strategy International CorporateLevel Strategy: Transnational Strategy ? Seeks to achieve both global efficiency and local responsiveness ? Difficult to achieve because of simultaneous requirements ? strong central control and coordination to achieve efficiency ? decentralization to achieve local market responsiveness ? Must pursue anizational learning to achieve petitive advantage 18 Type of Entry Characteristics Exporting High cost, low control Licensing Low cost, low risk, little control, low returns Strategic alliances Shared costs, shared resources, shared risks, problems of integration Acquisition Quick access to new market, high cost, plex negotiations, problems of merging with domestic operations New wholly owned subsidiary Complex, often costly, time consuming, high risk, maximum control, potential aboveaverage returns Global Market Entry: Choice of Entry Mode 19 國(guó)際性差異化策略 一個(gè)擁有先進(jìn)與特殊生產(chǎn)要素的國(guó)家,有可能發(fā)展此種策略 *日本、德國(guó)、美國(guó) 國(guó)際化低成本策略 企業(yè)通常將營(yíng)運(yùn)活動(dòng)集中於母國(guó) 產(chǎn)品出口至國(guó)外市場(chǎng) 將低附加價(jià)值的作業(yè)外包至其他國(guó)家 保留高附加價(jià)值的作業(yè)在母國(guó) 事業(yè)層國(guó)際化策略 20 Strategic Competitiveness Outes: Returns ? International diversification and returns: firm expands the sales of its goods or services across the borders of global regions and countries into different geographic locations or markets – may increase a firm’s returns – such firms usually achieve the most positive stock retu