Introduction to Strategy

2. International Business Strategy LON301BUS Introduction to Strategy Unit: 1 Knowledgecast: 2

3. Module Learning Outcomes • Demonstrate a sound appreciation of current strategic management concepts.

4. Multiple Perspectives Profit Maximisation Outcomes Pluralist Deliberate Classical Systemic Evolutionary Processual Emergent Nature of Strategy Making Process

5. Internationalisation Drivers • External Demands • Forces for cross-border integration and coordination • Forces for national differentiation and responsiveness • Forces for worldwide innovation and learning • Increasingly Liberalized Environment for Trade • Expanding Spiral of Globalization

6. Internationalisation Drivers • Internal Demands • Economies of Scale • Economies of Scope • Factor Costs

7. Global Competitors as Change Agents • For industry globalization to take place: • Underlying drivers (economies of scale and scope, etc.) have to be in place • But always triggered by actions of one of two global “change agents” • Examples: • British Airways (airlines) • Starbucks (premium coffee shops) • ISS (cleaning services)

8. Forces for Local Responsiveness • Cultural differences • Consumer tastes and preferences • Ways of doing business • National infrastructure • Technical standards (e.g., voltage, TV broadcast, etc.) • Distribution channels (e.g., supermarkets vs. bazaars) • Government demands • National laws and regulations • Host country pressures and demands • Local competitors • Appeal to nationalism

9. Risk: Globalisation Glaucoma!

10. Knowledgecast Summary • Demonstrate a sound appreciation of current strategic management concepts. • Issue of validity is key - who determines which perspective is most valid?

12. Seminar Heraldic Shields • Step 1: Listen to your tutor explain the history of heraldic shields and run through the instructions for this activity • Step 2: Draw your heraldic shield as big as possible on your piece of flip chart paper using the following design guide • Step 3: However, you are NOT allowed to use letters or words so each quadrant and even the banner of your name must be completed by drawing. For example, if your family name is Cooper you could draw a man making a barrel as this is the traditional name for this job or if you have 5 people in your family you could draw 5 ‘stick people’ in the ‘Family/Home’ quadrant. • Step 4: Share and explain your heraldic shield to the rest of your new team.

13. Seminar Your Name Family/Home Education/Work Experience When I was young I wish I’d known❾ My future� Heraldic Shield Design

14. Group Activity Researching Strategy: You are required to carry out an independent research activity to identify a minimum of three other definitions of strategy from both academic and non-academic sources. Please record the definition, its source and whether it is an academic or non-academic definition on paper or digitally and bring it to the session. When you have gathered the alternative definitions, share them with your team in order to make notes comparing and contrasting the definitions (max 250 words).