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Week 8
Saturday, November 2, 2013 | 8:41 PM | 0 Talker(s)
Assalamualaikum to all readers. Today I am going to share about what I learned in both lecture and tutorial for week 8. In this week's lecture, Miss Ummi taught us about strategies for competing in international markets. It is important to enter foreign markets to gain access to new markets, to achive lower cost through economies of scale, experience, and increased purchasing, to further exploit its core competencies, to gain access to resources and capabilities located in foreign markets and to spread its business risk across a wider market base.
Some of the factors that owners might consider to enter foreign market is that they need to make sure that the foreign market has lower wage rates, lower energy cost, fewer environmental regulation, lower tax rates and etc. Owners can choose to export strategies, licensing strategies, franchising strategies, foreign subsidiary strategies or joint venture strategies. In competing internationally, there are three main strategic approaches. Firstly is Multidomestic Strategy- Think Local, Act Local. Secondly is Global Strategy- Think Global, Act Global. Lastly, Transnational Strategy- Think Global, Act Local.
Apart from that, Miss Ummi also uploaded two cases for us to analyse the company's strategy. I have read the case. It is very interesting. However, Mdm Huda suggested that we discussed the cases after our Mid-sem break. During this week's tutorial, we continue the discussion the case "The Digital Age: Shall I tag along?" This week we applied the SWOT and TOWS strategies. It is very interesting and this lesson makes me more active in class as it requires us to think and share our ideas on what Ambang Mata Sdn Bhd can implement in its company. I would not elaborate more on what we discussed but would like to share a picture of what we discussed in class.
The SWOT TOWS table.
Last but not least, I would like to share a picture I edited. In today's world, technology has been widely used. We can just take a photo of what we learned. However I prefer to jot down notes on a piece of paper where I can scribble more notes on it.  |
