International Business Essay Example | Topics and Well Written Essays - 3250 words - 2

International Business - Essay Example For Coca-Cola, it meant duplicating a substantial part of its value-creation process—from product formulation to marketing and delivery—throughout the world. Intel’s global competitive advantage is based on attaining technological leadership and preferred component supplier status on a global basis. For a midsize company, it may mean setting up a host of small foreign subsidiaries and forging numerous alliances. For still others, it may mean something entirely different (De Kluyver & Pearce, 2006). Thus, although it is tempting to think of global strategy in universal terms, globalization is a highly company-and industry-specific issue. It forces a company to rethink its strategic intent, global architecture, core competencies, and entire current product and service mix. For many companies, the outcome demands dramatic changes in the way they do business—with whom, how, and why. In the study of management, it is already a common knowledge that it involves four basic functions: planning, organizing, leading, and controlling resources (land, labour, capital, and information) to efficiently reach a company’s goals. Controlling is the fourth basic managerial function. In management, controlling means monitoring a firm’s progress toward meeting its organizational goals and objectives, resetting the course if goals or objectives change in response to shifting conditions, and correcting deviations if goals or objectives are not being attained. Managers should strive to maintain a high level of quality—a measure of how closely goods or services conform to predetermined standards and customer expectations. Many firms control for quality through a four-step cycle that involves all levels of management and all employees. In the first step, top managers set standards, or criteria for measuring the performance of the organization as a whole. At the same time, middle