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1、9-1McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.9-2McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Part Three:International Strategic ManagementInternational Management,5th ed.9-3McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights R
2、eserved.International Management,4th ed.Hodgetts and LuthansChapter NineStrategic Planning9-4McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.IDENTIFY the basic steps in strategic planning,including environmental scanning,internal resource analysis of the MNCs strengths and
3、weaknesses,and goal formulationDESCRIBE how an MNC implements the strategic plan,such as how it chooses a site for overseas operationsEXPLAIN how an MNC implements an ownership and/or entry strategyREVIEW the three major functions of marketing,production,and finance that are used in implementing a s
4、trategic planObjectives of the Chapter9-5McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.International Strategic Planning Strategic planningProcess of determining an organizations basic mission and long-term objectives,then implementing a plan of action for attaining these
5、goalsProcess takes on added dimensions when companies go internationalGrowing Need for Strategic PlanningMNC must keep track of diversified operationsContinually changing international environmentFDI has grown faster than both trade and world gross domestic productBenefits of Strategic PlanningEvide
6、nce is mixed9-6McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Figure 9-1Basic Elements of Strategic Planning for International ManagementExternal Environmental Scanningfor MNC Opportunities and ThreatsInternal Resource Analysis ofMNC strengths and weaknessesStrategic Plann
7、ingGOALSIMPLEMENTATION9-7McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Basic Steps in Formulating StrategyEnvironmental ScanningProcess of providing management with accurate forecasts of trends related to external changes in geographic areas where the firm currently is do
8、ing business and/or is considering setting up operationsInternal Resource AnalysisHelps a firm to evaluate its current managerial,technical,material,and financial strengths and weaknessesKey factor for success(KFS)Factor necessary to effectively compete in a market nicheMust have people and resource
9、s to develop and sustain the necessary KFSs9-8McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Table 9-2 Areas for Formulation of MNC GoalsProfitabilityLevel of profitsReturn on assets,investment,equity,salesYearly profit growthYearly earnings per share growthMarketingTotal
10、sales volumeMarket share-worldwide,region,countryGrowth in sales volumeGrowth in market shareIntegration of country markets for marketing efficiency and effectivenessOperationsRatio of foreign to domestic production volumeQuality and cost controlEconomies of scale via international production integr
11、ationIntroduction of cost-efficient production methodsHuman ResourcesRecruitment and selectionDevelopment of managers with global orientationCompensation and benefitsManagement development of host-country nationalsFinanceTaxation-minimizing tax burden globallyOptimum capital structureForeign exchang
12、e management-minimizing losses from foreign fluctuationsFinancing of foreign affiliates-retained earnings or local borrowing9-9McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Strategy ImplementationProcess of providing goods and services in accord with a plan of actionLocat
13、ion Consideration for ImplementationThe CountryIndustrialized countries are the recipients of most investments by MNCsOffer the largest markets for goods and servicesMay have legal restrictions on imports that encourage a local presenceLocal IssuesAccess to marketsProximity to competitorsAvailabilit
14、y of transportation and utilitiesNature of of the workforceCost of doing business9-10McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Figure 9-2 Preferred Strategies for Global Expansion:Developed MarketsNorth AmericaWestern EuropeJapanAustralia/New ZealandAllianceJoint vent
15、ureMergers/acquisitionsExpandfacilitiesNewfacilities020406080100%of respondents9-11McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Strategy Implementation(cont.)Ownership and Entry Consideration for ImplementationWholly Owned SubsidiaryOverseas operation that is totally own
16、ed and controlled by an MNCIncreasingly acquiring subsidiaries through merger or acquisitionProvides MNC with complete controlJoint VentureAgreement in which two or more partners own and control an overseas businessNonequity venture-one group provides service to anotherEquity joint venture-involves
17、financial investment9-12McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.020406080100Figure 9-2 Preferred Strategies for Global Expansion:Emerging MarketsChinaSoutheast AsiaOther East AsiaIndia/PakistanBrazilMexicoOther Latin AmericaMiddle EastNorth AfricaEastern EuropeForme
18、r Soviet UnionAllianceJoint ventureMergers/acquisitionsExpandfacilitiesNewfacilities%of respondents9-13McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Advantages of Joint VenturesJointVenturesImprovementof efficiencyAccess toknowledgeCollusion orrestriction ofcompetitionPol
19、iticalfactors9-14McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Strategy Implementation(cont.)Ownership and Entry Consideration for Implementation(cont.)LicensingAgreement that allows one party to use an industrial property right in exchange for payment to the other partyU
20、sed under a number of common conditionsFranchisingBusiness arrangement under which one party(the franchisor)allows another(the franchisee)to operate an enterprise using its trademark,logo,product line,and methods of operation in return for a feeExport/ImportUseful for firms wanting to begin internat
21、ional expansion with a minimum investment9-15McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Type of EntryType of EntryCharacteristicsCharacteristicsExportingExportingHigh cost,low controlHigh cost,low controlLicensingLicensingLow cost,low risk,little control,low Low cost,l
22、ow risk,little control,low returnsreturnsStrategic alliancesStrategic alliancesShared costs,shared resources,shared Shared costs,shared resources,shared risks,problems of integrationrisks,problems of integrationNew wholly owned New wholly owned subsidiarysubsidiaryComplex,often costly,time consuming
23、,Complex,often costly,time consuming,high risk,maximum control,potential high risk,maximum control,potential above-average returnsabove-average returnsGlobal Market Entry:Choice of Entry Mode9-16McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Strategy Implementation(cont.)R
24、ole of the Functional Areas in ImplementationMarketingStrategy implementation must be determined on a country-by-country basisBuilt around the“four Ps”Product,price,promotion and placeUsually dominates strategy implementationProductionConsideration of worldwide production is importantMultidomestic c
25、ompanyFirm that operates production plants in different countries but makes no attempt to integrate overall operations9-17McGraw-Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Strategy Implementation(cont.)Role of the Functional Areas in Implementation(cont.)FinanceStrategy imple
26、mentation developed at the home office and carried out by the overseas affiliatesTransferring funds from one place to another,or borrowing funds in the international money markets,often is less expensive than relying on local sourcesMust be concerned about volatile monetary exchange rates9-18McGraw-
27、Hill/Irwin 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.Seminar TopicReading Material Page 211:Hush Puppies ChileQuestions to be prepared:How successful has Hush Puppies Chile been domestically?Why?What are the major alternatives facing the company?What action should Ricardo Swett recommend to the family?
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