Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: How does strategic planning differ between small businesses and multinational corporations?
A: Strategic planning is the act of creating short- and long-term plans to take a company from where it is today to where its owners would like it to be. [ Strategic plans include growth strategies, human resource development strategies, marketing tactics and internal goal-setting. There are a number of differences in strategic planning for domestic and international companies, usually as a
result of international businesses' larger scale and wider range of uncontrollable market variables. Understanding these differences can guide your strategic planning efforts as your small business grows to an international scale. Sponsored Link Business Ideas Reduce risk in sourcing! Place order in small quantity @ hktdc.com Growth Strategies Growth strategies in strategic plans are likely to look much different between domestic and international businesses. Domestic companies' growth plans are more likely focused on creating new markets or increasing market share in domestic markets. Small domestic companies can only grow their geographic reach to the edge of their home country's borders, then they must focus on finding new business in areas they already serve. International companies' growth strategies, on the other hand, are more likely focused on penetrating new markets in previously untapped countries and regions of the world. Strategic HR Management International HR development strategies must consider foreign outsourcing, the organizational structure of management between countries, the ethnic makeup of regional management and creating international work teams. Domestic companies in certain regions, meanwhile, may find it challenging to recruit culturally diverse employees, for example, which can cause legal issues and put companies at a disadvantage. Situational Analysis Comprehensive strategic plans begin with a situational analysis - a detailed look at current market conditions as well as a company's strengths and weaknesses. International businesses usually face multiple market conditions at once, adding depth to the equation. ]
bubblespatrick1216|Points 190|
Question
Asked 6/29/2013 8:17:32 PM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
26,494,392 questions answered
Popular Conversations
What is the purpose of the mantra during meditation? A. It ...
Weegy: The purpose of the mantra during meditation is: It allows you to concentrate on one peaceful sound. User: ...
11/12/2017 11:54:48 AM| 3 Answers
The following two sentences are saying the same thing. Emily, my ...
Weegy: The following two sentences are saying the same thing. Emily, my daughter, is in sixth grade. Emily, my daughter ...
11/13/2017 12:26:02 PM| 3 Answers
Which one of the following refers to all of the physical and chemical ...
Weegy: Endorphins are neurotransmitters that pass brain signal from one neuron to another. User: Which one of the ...
11/12/2017 6:31:18 AM| 2 Answers
When magma reaches the Earth's surface it's called A. ...
Weegy: The study of the Earth's magnetic field is known as: paleomagnetism. User: What are two of the processes ...
11/21/2017 7:34:39 PM| 2 Answers
Weegy Stuff
S
L
P
Points 186 [Total 311] Ratings 11 Comments 76 Invitations 0 Offline
S
P
L
P
Points 23 [Total 153] Ratings 0 Comments 23 Invitations 0 Offline
S
P
P
L
P
P
Points 20 [Total 1658] Ratings 0 Comments 20 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 4 [Total 4] Ratings 0 Comments 4 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.