Opportunities and Challenges in the Development and Implementation of Global Strategy

3510 Words15 Pages
MSc International Business and Management 2013/2014 Module: International Business Management - Assignment 1 Student: Stefan Momic Mentor: Prof. dr Vesna Milicevic 1 Summary In the essay that follows, “Opportunities and challenges in the development and implementation of global strategy”, the main topics of global strategies are reviewed and explored through a real life company. With the accelerated progress of globalization, most large businesses have to adopt one of the strategies to go global in order to stay competitive in today’s market. There are three major types of business strategies that pursue this goal: international strategy, multinational strategy, and global strategy (Lynch, 2012). The best way to explore these strategies is through an actual example, i.e. through the analysis of a company’s development. This paper will focus on the one of the largest, most innovative and highly diversified conglomerate, the Virgin Group. Starting from nothing in 1968, Virgin Group tried a series of strategies over the next 30 years. Under the strong and populist leadership of its chief executive, Sir Richard Branson, Virgin Group has pursued an opportunistic strategy to build a company with estimated annual sales of over US$10 billion by 2007. (Jackson, 1995) The strategic trial-and-error process was essentially emergent, rather than prescriptive. This case outlines some of the main strategies with Virgin’s successes, failures and continuing business developments. 2 Key words Global Strategy - The plans developed by an organization to target growth on a global level for sales of products or services. Brand - Unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors. Market - An actual or nominal place where forces of demand and supply
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