Globatization

is a process of doing business worldwide, so
strategic decisions are made based on global profitability of the firm rather than just domestic considerations.

Global strategies:

  ♦ seeks to meet the needs of customers worldwide, with the highest value at the lowest cost;

  ♦ includes designing, producing, and marketing products with global needs in mind, instead of considering individual countries alone;

  ♦ integrates actions against competitors into a worldwide plan;

  ♦ monitoring globalization in one’s industry is an important strategic-management activity;

  ♦ knowing how to use the information for one’s competitive advantage is important