...CHAPTER 1 Foundations of Strategic Marketing Management The primary purpose of marketing is to create long-term and mutually beneficial exchange relationships between an entity and the publics (individuals and organizations) with which it interacts. Though this fundamental purpose of marketing is timeless, the manner in which organizations undertake it continues to evolve. No longer do marketing managers function solely to direct day-to-day operations; they must make strategic decisions as well. This elevation of marketing perspectives to a strategic position in organizations has resulted in expanded responsibilities for marketing managers. Increasingly, they find themselves involved in charting the direction of the organization and contributing to decisions that will create and sustain a competitive advantage and affect long-term organizational performance. The transition of the marketing manager from being only an implementer to being a maker of organization strategy has resulted in (1) the creation of the chief marketing officer (CMO) position in many organizations and (2) the popularity of strategic marketing management as a course of study and practice. Today, almost onehalf of Fortune 1000 companies have a CMO. Although responsibilities vary across companies, a common expectation is that a CMO will assume a leadership role in defining the mission of the business; analysis of environmental, competitive, and business situations; developing business objectives and goals;...
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...UNDERSTANDING CUSTOMER NEEDS Barry L. Bayus Kenan-Flagler Business School University of North Carolina Chapel Hill, NC 27599 (919)962-3210 cherryflavorine@gmail.com January 2005 Revised November 2007 prepared for Shane, S. (ed.), Blackwell Handbook of Technology and Innovation Management, Cambridge, MA: Blackwell Publishers The comments of the following people on an earlier draft are greatly appreciated: Sridhar Balasubramanian, Dick Blackburn, Paul Bloom, Ed Cornet, Ely Dahan, Abbie Griffin, Steve Hoeffler, Erin MacDonald, Jackki Mohr, Bill Moore, Vithala Rao, Allan Shocker, and Gal Zauberman. Introduction Touted as the “most significant category innovation since toilet paper first appeared in roll form in 1890,” dispersible (flushable) moist toilet tissue on a roll was introduced in the United States by Kimberly Clark in 2001. According to a corporate press release, Cottonelle Fresh Rollwipes was a breakthrough product that “delivers the cleaning and freshening of pre-moistened wipes with the convenience and disposability of toilet paper.” Internal market research seemed to indicate that there was a clear customer need for a new product to supplement dry toilet paper. Surveys and focus groups revealed that over 60% of adult consumers had experimented with a moist cleaning method (e.g., using baby wipes, wetting a washcloth, sprinkling water on dry toilet paper) and one out of four used a moist cleaning method...
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...Strategy in the Global Environment Synopsis of Chapter This chapter looks at the strategies companies adopt when they expand outside their domestic marketplace and start to compete on a global basis. The chapter opens by discussing how global expansion creates value for a company. The focus is on the ability of global companies to transfer distinctive competencies across national markets, to realize location economies from basing individual value-creation activities in the optimal location for that activity, and to ride down the experience curve more rapidly than competitors that are focused on just their domestic market. Next the chapter examines two types of competitive pressures that firms competing in the global marketplace typically face: pressures for cost reductions and pressures to be responsive to local conditions. These pressures place conflicting demands on a company. The sources of pressures for cost reductions and pressures for local responsiveness are explored. The discussion then turns to the different strategies that companies can pursue in the global arena. Four different strategies are reviewed in some detail—an international strategy, a multidomestic strategy, a global strategy, and a transnational strategy. The pros and cons of each of these strategies are debated. A link is made between the appropriateness of different strategies and the pressures for cost reductions and local responsiveness. It is suggested that the optimal strategy is contingent...
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...AUL_KASLIK – MBA Helen Deresky International Management CHAPTERS 6,7,8,9,10& 11 Ali Sulaiman 71859876 aassbk@gmail.com AUL_KASLIK – MBA Helen Deresky International Management Formulating Strategy ng Outline Opening Profile: Global Companies Take Advantage Global Integrative Strategies Using E-Business for global Expansion E-Global or E-Local Entry Strategy Alternatives Reactive Responses Exporting; Licensing; Franchising; Contract Manufacturing; Of/shoring; Service Sector Outsourcing; Turnkey Operations; Management Contracts; International Joint Ventures; Fully-Owned Subsidiaries; e-Business Proactive Reasons Management Focus: Mexico's Cemex Reverses Course to Comparative Management in Focus: Strategic Planning for the EU Market Strategic Choice of Opportunities in South Africa Reasons for Going International Respond to Global Downturn Strategic Formulation Process Steps in Developing International and Global Strategies Mission and Objectives Environmental Assessment Institutional Effects on International Competition Sources of Environmental Information Internal Analysis Competitive Analysis Strategic Decision-Making Models Global and International Strategic Alternatives Approaches to World Markets Global Strategy Regionalization/localization Ali Sulaiman 71859876 aassbk@gmail.com Timing Entry and Scheduling Expansions The Influence of Culture on Strategic Choices Conclusion Summary of Key Points Discussion...
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...PART 1 Introduction CHAPTER 1 Introduction to Global Marketing Case 1-1 The Global Marketplace Is Also Local onsider the following proposition: We live in a global marketplace. McDonald’s restaurants, Sony digital TVs, LEGO toys, Swatch watches, Burberry trench coats, and Caterpillar earthmoving equipment are found practically everywhere on the planet. Global companies are fierce rivals in key markets. For example, American auto industry giants General Motors and Ford are locked in a competitive struggle with Toyota,Hyundai,and other global Asian rivals as well as European companies such as Volkswagen. U.S.based Intel, the world’s largest chip maker, competes with South Korea’s Samsung. In the global cell phone market, Nokia (Finland), Ericsson (Sweden), Motorola (United C States), and Samsung are key players. Appliances from Whirlpool and Electrolux compete for precious retail space with products manufactured and marketed by China’s Haier Group and LG of South Korea. Now consider a second proposition: We live in a world in which markets are local. In China, for example, Yum Brands’ new East Dawning fast-food chain competes with local restaurants such as New Asia Snack.1 France’s domestic film industry generates about 40 percent of local motion picture box office receipts; U.S.-made movies account for about 50 percent. In Turkey, local artists such as Sertab account for more than 80 percent of recorded Exhibit 1-1: England’s Burberry Group celebrated its...
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...of Strategic Management The first chapter of this book introduces strategic management, the set of decisions and actions that result in the design and activation of strategies to achieve the objectives of an organization. The chapter provides an overview of the nature, benefits, and terminology of and the need for strategic management. Subsequent chapters provide greater detail. The first major section of Chapter 1, “The Nature and Value of Strategic Management,” emphasizes the practical value and benefits of strategic management for a firm. It also distinguishes between a firm’s strategic decisions and its other planning tasks. The section stresses the key point that strategic management activities are undertaken at three levels: corporate, business, and functional. The distinctive characteristics of strategic decision making at each of these levels affect the impact of activities at these levels on company operations. Other topics dealt with in this section are the value of formality in strategic management and the alignment of strategy makers in strategy formulation and implementation. The section concludes with a review of the planning research on business, which demonstrates that the use of strategic management processes yields financial and behavioral benefits that justify their costs. The second major section of Chapter 1 presents a model of the strategic management process. The model, which will serve as an outline for the remainder of the text, describes...
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...Chapters CHAPTER 1 AN INTRODUCTION TO INTERNATIONAL MARKETING INTRODUCTION Managers around the globe are recognising the increasing necessity for their companies and organisations to develop the skills, aptitudes and knowledge to compete effectively in international markets. The emergence of a more open world economy, the globalisation of consumer tastes and the unabated expansion of Internet access globally all increase the interdependency and interconnections of nation economies across the globe. The need for managers to develop the skills to respond to these pressures affects companies of all sizes. In this chapter, the reader will be introduced to the concepts of international marketing, enabling them to acquire an appreciation of the complexities of marketing on an international basis and of how this activity differs from operating purely in domestic markets. In the following sections we will define international marketing, examine the important trends in the global marketing environment and introduce the reader to the international marketing strategy development and international marketing planning process. LEARNING OBJECTIVES After reading this chapter you should be able to: I I I I Explain and use the SLEPT factors to assess international markets Discuss the differences between export marketing, international and global marketing Understand the criteria required to evaluate a company’s international marketing strategy Appreciate the key steps in the international...
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...managing NOW! Gary Dessler Florida International University Jean Phillips Rutgers University Houghton Mifflin Company Boston New York To Samantha Vice President, Executive Publisher: George Hoffman Executive Sponsoring Editor: Lisé Johnson Senior Marketing Manager: Nicole Hamm Development Editor: Julia Perez Cover Design Manager: Anne S. Katzeff Senior Photo Editor: Jennifer Meyer Dare Senior Project Editor: Nancy Blodget Editorial Assistant: Jill Clark Art and Design Manager: Jill Haber Senior Composition Buyer: Chuck Dutton Cover photo credits Main image: © Bryan F. Peterson/CORBIS Lower left image: © Stockbyte/Getty Images Lower right image: © David Oliver/Getty Images Additional photo credits are listed on page 516. Copyright © 2008 by Houghton Mifflin Company. All rights reserved. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system without the prior written permission of Houghton Mifflin Company unless such copying is expressly permitted by federal copyright law. Address inquiries to College Permissions, Houghton Mifflin Company, 222 Berkeley Street, Boston, MA 02116-3764. Printed in the U.S.A. Library of Congress Control Number: 2007924351 Instructor’s exam copy : ISBN-13: 978-0-618-83347-4 ISBN-10: 0-618-83347-1 For orders, use student text ISBNs: ISBN-13: 978-0-618-74163-2 ISBN-10: 0-618-74163-1 1 2 3 4 5 6 7...
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...—HIROYUKI ITAMI, MOBILIZING INVISIBLE ASSETS You’ve gotta do what you do well. —LUCINO NOTO, FORMER VICE CHAIRMAN, EXXON MOBIL OUTLINE l Introduction and Objectives l The Role of Resources and l Organizational Capabilities Classifying Capabilities The Architecture of Capability l Appraising Resources and Capabilities Establishing Competitive Advantage Sustaining Competitive Advantage Appropriating the Returns to Competitive Advantage l Putting Resource and Capability Capabilities in Strategy Formulation Basing Strategy on Resources and Capabilities Resources and Capabilities as Sources of Profit l The Resources of the Firm Tangible Resources Intangible Resources Human Resources Analysis to Work: A Practical Guide Step 1 Identify the Key Resources and Capabilities 123 CSAC05 1/13/07 9:21 Page 124 124 PART II THE TOOLS OF STRATEGY ANALYSIS Step 2 Appraising Resources and Capabilities Step 3 Developing Strategy Implications l Developing Resources and Capabilities The Relationship between Resources and Capabilities Replicating Capabilities Developing New Capabilities Approaches to Capability Development l Summary l Self-Study Questions l Appendix: Knowledge Management and the Knowledge-based View of the Firm l Notes Introduction and Objectives In Chapter 1, I noted that the focus of strategy thinking has been shifted from the...
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...Competitive Advantage (Chapter 1) ● Working Conditions at Wal-Mart (Chapter 2) ● Wal-Mart’s Bargaining Power over Suppliers (Chapter 3) ● Human Resource Strategy and Productivity at Wal-Mart (Chapter 4) ● How Wal-Mart Became a Cost Leader (Chapter 5) ● Wal-Mart’s Global Expansion (Chapter 6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating Stakeholder Claims (Chapter 2) Competing with Microsoft (Chapter 3) Analyzing Competitive...
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...Competitive Advantage (Chapter 1) ● Working Conditions at Wal-Mart (Chapter 2) ● Wal-Mart’s Bargaining Power over Suppliers (Chapter 3) ● Human Resource Strategy and Productivity at Wal-Mart (Chapter 4) ● How Wal-Mart Became a Cost Leader (Chapter 5) ● Wal-Mart’s Global Expansion (Chapter 6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating Stakeholder Claims (Chapter 2) Competing with Microsoft (Chapter 3) Analyzing Competitive...
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...Tables 12 Professor Dr. Manfred Krafft University of Muenster Institute of Marketing Am Stadtgraben 13±15 48143 Muenster Germany mkrafft@uni-muenster.de Professor Murali K. Mantrala, PhD University of Missouri ± Columbia College of Business 438 Cornell Hall Columbia, MO 65211 USA mantralam@missouri.edu ISBN-10 3-540-28399-4 Springer Berlin Heidelberg New York ISBN-13 978-3-540-28399-7 Springer Berlin Heidelberg New York Cataloging-in-Publication Data Library of Congress Control Number: 2005932316 This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. Springer is a part of Springer Science+Business Media springeronline.com ° Springer Berlin ´ Heidelberg 2006 Printed in Germany The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Hardcover-Design:...
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...Managing Human Resources, 14e, Bohlander/Snell - © 2007 Thomson South-Western © STONE/GETTY IMAGES chapter 15 International Human Resources Management After studying this chapter, you should be able to objective Identify the types of organizational forms used for competing internationally. objective 1 2 3 4 5 6 7 8 Identify the unique training needs for international assignees and their employees. objective Explain the economic, politicallegal, and cultural factors in different countries that HR managers need to consider. objective Identify the characteristics of a good international compensation plan. objective Explain how domestic and international HRM differ. objective Reconcile the difficulties of home- and host-country performance appraisals. objective Discuss the staffing process for individuals working internationally. objective Explain how labor relations differ around the world. PART 6 Expanding Human Resources Management Horizons 639 Managing Human Resources, 14e, Bohlander/Snell - © 2007 Thomson South-Western 640 PART 6 Expanding Human Resources Management Horizons W hen you pick up a newspaper or turn on the TV, you’ll notice that stories are constantly being told about companies competing globally. These stories might include mergers of U.S. and international companies, such as Daimler-Benz and Chrysler a few years ago. Or they might highlight companies expanding into other...
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...the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on recycled, acid-free paper containing 10% postconsumer waste. 1 2 3 4 5 6 7 8 9 0 QDB/QDB 1 0 9 8 7 6 5 4 3 2 1 ISBN 978-0-07-811257-7 MHID 0-07-811257-5 Vice President & Editor-in-Chief: Brent Gordon Vice President, EDP/Central Publishing Services: Kimberly Meriwether-David Editorial Director: Paul Ducham Managing Developmental Editor: Laura Hurst Spell Developmental Editor: Jane Beck Associate Marketing Manager: Jaime Halteman Project Manager: Erin Melloy Buyer: Kara Kudronowicz Design Coordinator: Margarite Reynolds Cover Designer: Studio Montage, St. Louis, Missouri Cover Images: Top to bottom, © Mark...
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...Chapter 2 Business Ethics and Social Responsibility Chapter Outline Introduction Business Ethics and Social Responsibility The Role of Ethics in Business Recognizing Ethical Issues in Business Improving Ethical Behaviour in Business The Nature of Social Responsibility Social Responsibility Issues Objectives After reading this chapter, you will be able to: • Define business ethics and examine its importance. • Detect some of the ethical issues that may arise in business. • Specify how businesses can promote ethical behaviour. • Define social responsibility and explain its relevance to business. • Debate an organization’s social responsibilities to owners, employees, consumers, the environment, and the community. • Evaluate the ethics of a business’s decision. Enter the World of Business The Leopard Did Change His Spots—They Grew The son of a wealthy brewery executive, Conrad Moffat Black was born August 25, 1944, in Montreal. After leaving home at age 18, he earned a history degree at Carleton University, a law degree at Laval, and an MA from McGill. An avid student of history, he has written several books (including an autobiography) about political figures such as Maurice Duplessis, Napoleon, and most recently, Franklin Roosevelt. Mr. Black purchased his first newspaper, the Sherbrooke Record, when he was 25 years old. Two years later, he added about 20 Canadian newspapers to his belt with the acquisition of the Sterling Company chain. Five years later, at age 33...
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