Understanding non-market strategies with a view to the future

First topic is the theory of Non-Market Strategy The market is frame of relationship, in which the firm positions itself. A market strategy is the set of actions taken with the goal of improving performance to create value. Porter’s five forces model forms a great example for this. Also, in the resource-based view, market strategy means investing in … Continue reading Understanding non-market strategies with a view to the future

Agency theory and firm boundaries

Wendy's new "Image Activation" restaurants feature bold, "ultra-modern" designs that greatly enhance the customer experience, including lounge seating with fireplaces, flat-screen TVs, Wi-Fi and digital menuboards.(PRNewsFoto/The Wendy's Company) In this lecture, market presence and activities will be discussed. First topic is the theory of transaction cost economics. Transactions can take place in both the market … Continue reading Agency theory and firm boundaries

Internationalization theory and practice

In this lecture, several theories for trade and other international activities are discussed. Absolute cost advantage, by Adam Smith in 1776, is the idea of operating internationally based on an advantage, where the same amount of resources lead to greater production of a good or service than another one. Comparative advantage, an idea by Ricardo … Continue reading Internationalization theory and practice

Introductions on international strategic management

Photo by Alexander Suhorucov on Pexels.com 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 … Continue reading Introductions on international strategic management

Business Strategy: Going local to go global

Photo by Pixabay on Pexels.com Glocal is not a new term. It is the blend of global and local and was primarily created to support the brand strategy of large multinational brands to enter and appeal to different markets. Successful global brands have evolved to meet local demands by embracing this glocal outlook in their … Continue reading Business Strategy: Going local to go global

What is localization in business?

Photo by Pixabay on Pexels.com Localization is a term that gets tossed around a lot, sometimes as a synonym for translation. But translation and localization aren’t the same thing. The Globalization and Localization Association (GALA) says, “Localization is the process of adapting a product or content to a specific locale or market. Translation is only one … Continue reading What is localization in business?

The impact of globalization on Africa

The last three decades have been marked by intense political activism against globalization. The opposition, however, has been driven by a narrow view that equates globalization with international trade liberalization advanced by Western countries. But globalization is about more than that. In his book, The Consequences of Modernity, British sociologist Anthony Giddens defines globalization as the … Continue reading The impact of globalization on Africa

EU and the new politics of globalization

The world of EU law woke-up on June 24th with a hangover. Every member of our academic community is or knows well friends and colleagues studying and teaching EU law in the UK whose futures are in question. Yet, the referendum raises a larger scientific question for EU law. As well as the technicalities of divorce and variable … Continue reading EU and the new politics of globalization