Strategic planning for organizations and corporations
Alan Graham
Hello, strategic alliances and joint ventures are viewed as the two international strategies that firms use to expand their business to other foreign countries. Both usually are similar as they focus on combining the varied ideas and efforts of two enterprises. It is essential to state that the strategies generally need the parties to be accountable and take risks together. There are factors like cultures and the different laws that hinder or interfere with expansion.
Anna Truc Linh Ngo
Hello, I believe there are a lot of international strategies for firms to use when they want to expand their business. In your post, you talked about export and market expansion which I think are some international components that firms used to expand their products and service to other nations. There is a need for a company to develop their works so that they gain more competitive advantage. Having varied customers and market niche would allow firms to be successful. Laws and cultures might affect market expansion; hence Corporations have to adhere and integrate to a foreign way of life and doing business. Thank you for sharing your informative discussion.
Mack Sanchez
Hello Mack, I agree with the fact that there is a need for organizations and corporations to have strategic planning in deciding how to expand on a global scale. I believe that there are procedures and steps which have to align with the strategic process when expanding. There are ethical and moral norms that firms have to adhere to when expanding globally. Following the rules and laws of other countries is a form of corporate social responsibility and adhering to the ethical values in foreign countries. Companies have to respect foreign culture, customs, and laws to be successful. Integration is vital for strategic expansion and plans to operate within the foreign market. Having cohesive alliances with other firms is critical; hence I believe that one has to be aware of the customs and courtesy of the host country people as you elaborated in your post. Thank you for sharing.
Randy Moffett
Hello, I agree that alliances and joint ventures are essential for corporations as the partnership characterizes it. They are usually similar as they both assist in expanding and growing smaller businesses. I also understood your point that both aspects help in increasing revenue, but also such companies might experience benefits and loss financially. An interesting fact in your post is that joint venture tends to work for organizations performs independently but creates a new corporation within the partnership. I appreciate your interactive post, Randy.