Explain the role of strategy in international business?

Explain the role of strategy in international business?

Expert Solution

The role of strategy in international business -

Analysis: to understand the changing environment in which an entity operates, and the capabilities it possesses - or does not possess - to allow it to succeed - however you define that - within that environment.
Design: to decide what the organisation will do - and will not do - to succeed, given the analysis, and to align stakeholder behind those decisions.
Planning & execution: to develop, communicate and executed plans to effect those decisions.
Control: to review all of the above on an going basis to ensure the strategy evolves and responds to real-world events.
It improves the chances that an organisation successfully pursues a strategy which is likely to lead to its success (however that is defined)
It provides a common framework which enables multiple stakeholders to work *together* to develop and execute strategy.

Rahul Sunny answered 1 year ago

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Explain the role of strategy in international business?

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