Introductions on international strategic management

successful multiethnic business colleagues in modern office
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Additional definitions on some key principals:

Strategy; a set of commitments and actions, which is fully integrated and coordinated. It’s goal is to utilize core competencies and develop competitive advantages.

Strategic management: management process to asses a company and its competitors. Furthermore, it meets all these competitors by setting appropriate goals and strategies. Finally, it evaluates these goals and strategies to see whether or not they have been successful or need to be replaced by new strategy or goals.

International Strategic Management: a management planning process, which determines the strategies and goals, but in an international setting: how to expand abroad or compete internationally.

Globalization, and therefore strategic theory evolves from different types of factors:

  1. Political
  2. Technological
  3. Social
  4. Competitive

International perspective gives several benefits on:

  1. Costs
  2. Timing
  3. Learning
  4. Arbitrage

Which are influenced by different types of factors:

  1. Cultural
  2. Commercial
  3. Technical
  4. Legal