International Business Strategies: Trade, Licensing, Franchising
Reasons for International Trade
Countries engage in international trade for several reasons:
- Imports: To gain access to different products, cheaper products, and different technologies.
- Exports: To increase profits and access more markets.
Understanding Licensing Agreements
A licensing agreement involves one company (the licensor) granting permission to another company (the licensee) to use its products, services, brand, or patents.
Motivations for Licensing:
- Licensor: To achieve faster growth, gain flexibility,
Management Control: Purpose, Centers, Costs, and Key Functions
Management Control Purpose
To report: Transmit to each area of the organization the necessary information for its management.
To coordinate: Guide and coordinate all the efforts of the company towards the objectives set in an effective and efficient way.
To evaluate: Associate objectives with people, including the quality of performance and compensation.
To motivate: Motivate continuous improvement through the analysis of results in relation to the achievement of objectives set by each responsible party.
Read MoreCompetitive Strategies: Cost Leadership, Differentiation, Focus
Competitive Strategies for Business Success
Competitive strategy involves offensive or defensive actions to establish a defensible position within an industry. The goal is to effectively manage the five competitive forces and achieve a strong return on investment.
Overall Cost Leadership
Overall cost leadership requires aggressively building efficient facilities, pursuing cost reductions through experience, strictly controlling variable and fixed costs, preventing juvenile client accounts, and minimizing
Read MoreKey Concepts in Economics, Globalization, and Finance
Key Concepts in Economics and Finance
Economics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Greek for oikos (house) and nomos (custom or law), hence the house rules (home).
Globalization is a process of deepening economic, social, cultural, and political integration, which has been boosted by cheaper means of transport and communications since the end of the twentieth century and the early twenty-first century.
Read MoreEmotional Intelligence: Key to Effective Leadership
1. Introduction
The belief that there are individuals with the “right stuff” to be leaders is more art than science. After all, the personal styles of superb leaders vary. And just as important, different situations call for different types of leadership. Most mergers need a sensitive negotiator at the helm, whereas many turnarounds require a more forceful authority.
The most effective leaders are alike in one crucial way: they all have a high degree of what has come to be known as emotional intelligence.
Read MoreJoseph Juran and Philip Crosby: Quality Philosophies
Joseph Juran
- Do not look for any cultural exchange.
- Seeking to improve the quality, working within the system.
- Programs with minimal risk of rejection.
- Advocate for cost accounting and quality analysis.
- Higher compliance specifications.
Define Quality
- Performance of the product that satisfies the customer.
- Suitable for use.
- Two levels:
- The mission of the company.
- The task of each department.
- Main processes of quality:
- Plan for quality.
- Quality Control
- Improved quality.
PHILOSOPHY OF CROSBY
- Crosby’s motto is “according