Globalization
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Key Takeaway #1: A clear vision drives perseverance and innovation The Walt Disney Company’s international and intergenerational success didn’t occur by accident. Its founder’s clarity of vision and unrestful spirit drove him to take multiple risks in his career and achieve some of the greatest innovations of his industry. His failures and setbacks, though many,…
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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…
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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 (external) or within the organization (internally). Transaction cost economics (TCE) analyzes the transactions, where the costs made in performing the transaction are the transaction costs. These can be search and…
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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…
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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…
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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 product and communication plans. There…
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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 of several elements of the…
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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…
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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…
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