A Practical Framework for Business Strategy Success
The practical framework we present in this event is a logical, structured and systematic approach to designing and implementing successful global business strategies. It outlines the information requirements required to maximise the inherent value which the framework offers to translate the strategic requirements of the ‘intelligent company’ into operational strategic marketing plans.
The Framework provides the knowledge fulcrum between, on the one side, the insights gained regarding the harshness of the twin forces of competition and strategy and, on the other side, a realistic assessment of the organizational challenges which face companies when executing global business strategies alongside ways of how to address them.
Most textbooks on global business strategy identify four broad categories of strategic management decision making for global markets:
- Why enter global markets and when? These decisions will be based upon a combination of market opportunity assessment, company motivations and company capabilities.
- Where to compete? Related decisions in this category are which geographical markets, how many geographical markets, which segments within the selected geographical market(s)?
- How to serve the selected geographic markets (also known as market entry mode)?
- Which action plans? The principal focus of this event, as reflected in the ‘Indicative Content’ section which follows, relates to the Operational Go-to-Market Plan, i.e., it is focussed on specific actions and activities which are designed to lead to the success which its title indicates is achievable.
The Practical Global Business Strategy Framework has been derived from many models available in the literature and has been refined over time through usage within organizations from multiple sectors and of all sizes. The overriding theme of this event relates to the intricate relationship between management theory and business practice.
- Analyse market contexts: mature and emerging
- Select high potential market opportunities:
# Undertake preliminary country research: reject country at this time or progress to the next step
# Undertake detailed market(s) research: reject country at this time or progress to the next step
# Undertake detailed company capabilities assessment: reject country at this time or progress to the next step
# Make market entry decision from ranked shortlist: use management judgement and experience
# Do it again!
- Determine market entry mode, selecting from:
# Simple exporting
# Exporting using foreign intermediaries
# Identifying ‘network solutions’: licensing; franchising; strategic alliances; international joint ventures
# Identify suitable acquisitions
- Determining the required financial resources
- Identify the necessary value proposition and communications adaptations
- Develop the ‘Go-to-Market’ Plan
The following elements of the event provide the background to its principal focus: creating the Go-to-Market Plan:
- Assess and determine strategic objectives
- Determine strategic focus: insights for profitable growth
- Profile customer targets
- Profile competitor targets
- Produce differential advantage profiles
- Create a strategic marketing mix per target market segment
- Boring but important! scheduling, planning and task allocation
- Organizational imperatives for the operational Go-to-Market plan
After participating in this event participants will:
- Understand that the complexity of global business strategy can be modelled in a relatively simple and extremely practical framework to compartmentalise its various elements
- Have the capability to apply common processes to multiple and diverse country-markets
- Have the confidence to propose internal marketing plans
- Apply the principles of organizational analysis using proven frameworks, methodologies, processes and tools
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All content © Colin Edward Egan, 2022