Mkt 421 Week 3
Week Three Assignment
5. Explain when and why it is important for a company to globalize. When an organization wants to go global, they look at the opportunities in all countries that will permit that organization to enhance the effectiveness of business functions everywhere the organization has operations and then devise a strategy to achieve that goal. The two main reason an organization looks to globalization is for standardization and customization. Standardization uses a regular product, service and message over all markets to solidify the image of the brand. Standardization works until consumers turn to local companies that identify with the region’s cultural needs and wants. The other reason is customization which is standardized products, services, and messages that have …show more content…
The differences in the products are either basic products or customized products each market, at its own rate, will require the increase or decrease of a mixture of the products or particular products for the market.
1. Describe SWOT analysis as a way to guide internal analysis. How does this approach reflect the basic strategic management process? The SWOT analysis guides an organization to look at the position of the company against competitors and identify their strengths, identify, capitalize and exploit the opportunities the company has, recognize where the company needs to strengthen their position, and distinguish the threats that will directly affect the company if neglected. SWOT analysis support strategic management process because it help to develop the strategy a company make to improve their position in the industry. It is the framework that spawns innovation in an organization.
2. What are potential weakness of SWOT
5. Explain when and why it is important for a company to globalize. When an organization wants to go global, they look at the opportunities in all countries that will permit that organization to enhance the effectiveness of business functions everywhere the organization has operations and then devise a strategy to achieve that goal. The two main reason an organization looks to globalization is for standardization and customization. Standardization uses a regular product, service and message over all markets to solidify the image of the brand. Standardization works until consumers turn to local companies that identify with the region’s cultural needs and wants. The other reason is customization which is standardized products, services, and messages that have …show more content…
The differences in the products are either basic products or customized products each market, at its own rate, will require the increase or decrease of a mixture of the products or particular products for the market.
1. Describe SWOT analysis as a way to guide internal analysis. How does this approach reflect the basic strategic management process? The SWOT analysis guides an organization to look at the position of the company against competitors and identify their strengths, identify, capitalize and exploit the opportunities the company has, recognize where the company needs to strengthen their position, and distinguish the threats that will directly affect the company if neglected. SWOT analysis support strategic management process because it help to develop the strategy a company make to improve their position in the industry. It is the framework that spawns innovation in an organization.
2. What are potential weakness of SWOT