GLOBAL STRATEGIC MANAGEMENT

Global Strategic Management

Global Strategic Management

Introduction: Global Strategic Management

During the last half of the twentieth century, many barriers to international trade fell and a wave of firms began pursuing global strategies to gain a competitive advantage. However, some industries benefit more from globalisation than does others, and some nations have a comparative advantage over other nations in certain industries. To create a successful global strategy, managers first must understand the nature of global industries and the dynamics of global competition.

Learning as strategic management

Organisational learning has become imperative for global strategic effectiveness in the 1990s because it has been increasingly difficult for firms to individually develop the sufficient levels of knowledge to successfully compete. Strategic alliances provide the means of learning through inter-firm relationships.

Basic model of strategic management

A basic strategic business plan will help the organization define its mission and vision, giving the organization a sense of purpose and direction. In addition a strategic plan will help the organization asses its strengths and weaknesses, and develop short-term strategies that are compatible with long-term objectives. A strategic plan will balance the use of resources, people, structures, and technologies in order to achieve company goals with the least amount of risk. Four Functions of Management Planning is the first function of the management process, as without effective planning one cannot effectively organize, control or lead the organization. Planning is used as a tool to help identify potential opportunities and threats as well as to reduce long-term risks. Planning is also used to more effectively establish goals and objectives for long-term success and ensure that the organization use all its resources toward achieving its goals.

Corporate Social Responsibility

The social responsibility of corporations is something that should and will be done, regardless of the company's financial capabilities, or the will and benefit of the stakeholders.

Corporate stakeholders

One of the primary targets of Corporate stakeholders is to maintain an auditing system to ensure that corporate governance issues are being mitigated. Part of this system should establish bylaws that specify the current and future roles of all corporate stakeholders especially the roles that the CEO, the executive management and the board of directors at McBride Financial take on.

Bayer priorities

As market leader of the chemical and pharmaceutical business, Bayer have five main aims which are continuing try to achieve.

To become the world's leading integrated chemical and pharmaceutical company, with core competencies in health care, agriculture, plastics and specialty ...