Problem:
It is necessary to highlight the purpose and direction of global strategy. The why of globalization will provide a basis for discussing factors that need consideration, prioritization, and possible inclusion in your strategic plans.
Hitt, Keats, and DeMarie (1998) identified strategic flexibility and competitive advantage as key pointers to success of the 21st century organization. Further expanding on the aspect of flexibility to the Internet driven economy of the 21st century, Sharma and Gupta (2004) emphasized that flexibility and rapid response were crucial to business success, and that such flexibility should occur in structure, technology, core process, and workforce. Day and Nedungadi (1994) also suggested earlier that in such a dynamic competitive market, strategies towards customers and competitors were two key determinants of competitive advantage.
These studies, as you can see, are six to 16 years old.
Question:
Discuss whether these views have been proven right. Give business examples of global corporations to support your arguments.
References:
Day, G. S. & Nedungadi, P. (1994). Managerial representations of competitive advantage. Journal of Marketing, 58 (2).
Hitt, M.A., Keats, B.A. & DeMarie, S.M. (1998). Navigating in the new competitive landscape: Building strategic flexibility and competitive advantage in the 21st century.
Sharma, S.K. & Gupta, J.N.D. (2004). E-strategy model for creating flexible organizations. Global Journal of Flexible Systems Management, 5 (2/3).