Why is developing transnational knowledge important? What is a global mindset?
Transnational knowledge is definitely a very important subject in today's world. All major sectors today have expanded worldwide and have global competitors. This is because, "most transnational companies, the dawning of the new millennium offered exciting prospects of continued growth and prosperity" (Bartlett, 2008). In this condition the knowledge of proper transnational strategy is vital. The knowledge of following three steps is essential for success:
The development of a core strategy - to get sustainable competitive advantage.
International expansion to internationalize the core strategy.
"Globalization of the strategies by integration of the international strategy across the countries" (Bartlett, 2008).
Global mindset is the mindset or a set of strategies meant for expanding a business worldwide developed after making a number of choices from a number of strategic dimensions. Examples of global mindset are pure multidomestic who believes in maximizing performance by maximizing local competitive advantages and pure global strategies who want to maximize the global performance by sharing and integration.
How might an organization's development of transnational knowledge offer both advantages and disadvantages? What are potential advantages and limiting factors in developing transnational knowledge?© BrainMass Inc. brainmass.com October 25, 2018, 3:37 am ad1c9bdddf
I have done an overview and I am sure you will want to detail in some fine points you think will help the overall summary.
Transnational knowledge has become more important as the worldwide markets have opened up to in all sectors of the economy. Worldwide market competition is growing, and that growth offers prospects that are both attractive and show signs of growing prosperity. The need for transnational strategies and knowledge is vital to being ...
This solution provides a detailed discussion of how might an organization's development of transnational knowledge offer both advantages and disadvantages, and includes the potential advantages and limiting factors in developing transnational knowledge.
Business ethics and social responsibility, global business, strategies, trade, WTO
Discuss the basic forms of conducting international business (export/import, licensing/franchising, contract manufacturing/outsourcing, joint ventures/alliances, and direct investment), and basic international business strategies (multinternational vs global)
Discuss the trade (economic reason why trade occurs,) the role of the World Trade Organization, regional trade agreements, and the barriers to international trade
Discuss the business ethics (concept, common issues, ethical decision factors), actions to promote ethical behavior, social responsibility (concept/dimensions, consumerism), and the business legal environment (source of law, resolution of disputes)
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