Understanding Global Strategy in Business

Understanding Global Strategy in Business

Learning Objectives

At the end of the lesson, you will understand the concept of a global strategy and its importance in business expansion. You will be able to distinguish between international, multinational, global, and transnational strategies. You will recognize the advantages and challenges associated with implementing a global strategy. You will be able to identify the key elements involved in creating a successful global strategy. You will understand how businesses like McDonald's adapt their global strategy to local markets.

What do you already know about global business strategies?

Introduction to Global Strategy

A strategic plan for a company to compete and expand into the global market, focusing on standardization and international growth.

Types of Global Corporate Strategies

International Strategy, Multinational Strategy, Global Strategy, Transnational Strategy

Key Steps in Building a Global Strategy

Market analysis, resource distribution, setting international objectives, assessing product offerings, managing the business internationally

Advantages and Disadvantages of Global Strategy

Economies of scale, global branding, competitive advantage, greater resource needs, localization challenges, competition with local businesses

Case Study: McDonald's Global Corporate Strategy

Adaptation to local tastes, competition, laws, franchise operations, service quality, 'global must be made and delivered locally' principle

Definition List

Global Strategy: A strategic plan for a company to compete and expand into the global market, focusing on standardization and international growth. International Strategy: A business approach where a company primarily focuses on its home market while also engaging in overseas activities. Multinational Strategy: A strategy requiring unique approaches for each market outside the home country, tailored to local demands and competitive landscapes. Global Strategy (Contextual Definition): Viewing the world as a single market with a uniform approach to competition and supply. Transnational Strategy: A business model where a company operates in multiple countries, balancing global and local needs with regional autonomy.

Write down 3 things you learned in this lesson.

Have students enter three things they learned in this lesson. With this they can indicate their own learning efficiency of this lesson.

Write down 2 things you want to know more about.

Here, students enter two things they would like to know more about. This not only increases involvement, but also gives them more ownership.

Ask 1 question about something you haven't quite understood yet.

The students indicate here (in question form) with which part of the material they still have difficulty. For the teacher, this not only provides insight into the extent to which the students understand/master the material, but also a good starting point for the next lesson.