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Explore the nexus between strategy and globalization. You will act as a consultant to XYZ corporation. Individually, you will formulate a plan to help this corporation (in an industry of your choosing) expand into a foreign geographic market. You will need to consider the following within your final report:
1. Cultural considerations in terms of product manufacture and marketing; in other words, what types of modifications in terms of “go global act local” must be made in order to have a successful product launch?
2.Taking into account Hofstede’s cultural dimensions, how should expatriate employees behave in order to fit within the respective culture, and how should human resource policies in the foreign subsidiary change to mesh with local norms?
3. What types of strategy should you recommend to XYZ so that their global expansion is successfull
- When formulating your recommendations, be sure to take into account the entire range of strategy types.
A 750 word paper (to include a title page, abstract, conclusion, and a reference page – Times New Roman, single spaced). Be sure to give equal emphasis to each of the dimensions above.
First step; You will need to decide on a specific product (for question #1)
Second; Research Hofstede’s dimensions (regarding your specific country) for question #2.
Third step; For question #3, be sure to merge the areas of strategy and globalization when deciding on a distribution approach: for example, depending on your product, will you engage in a transnational, or a multi-domestic strategy? Will you use franchising or licensing?
You may choose any country except the USA. Popular choices have included Sweden, China, India, and Mexico.