philosophies that guide strategic management
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4 basic philosophies that guide strategic management include the home replication strategy, the multi-domestic strategy, the global strategy, and the transnational strategy. Can you discuss each of these strategies in your own words?
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4 basic philosophies that guide strategic management include the home replication strategy, the multi-domestic strategy, the global strategy, and the transnational strategy. Can you discuss each of these strategies in your own words?
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Home Replication Strategy:
In this approach, a firm utilizes the core competency or firm-specific advantage it developed at home as its main competitive weapon in the foreign markets that it enters. That is, it takes what it does exceptionally well in its home market and attempts to duplicate it in foreign markets.
Basically, products are developed at the home country and little adaptation takes place at the foreign country. For example, Microsoft uses this strategy by making little changes to its Windows Operating system to enter international markets. This strategy makes sense in countries where low skills, competition and costs exist. Micrsoft just replicates its core competency in developing OS in international markets by making ...
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- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
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