A work placement report is a summary of a student’s experience during a period of work as part of their studies, often as part of an internship or co-op program. A work placement report reflects on your work placement experience from a developmental perspective by drawing in theory and its application in the workplace. A […]
Business Management
Global Retailing
Global Retailing is any retailing activity that crosses national boundaries. For centuries entrepreneurial merchants have ventured abroad to seek out merchandize and to establish retail operations. Today’s global retailing scene is characterized by great diversity. Diversity in the Global Retailing Scene Department stores literally have several departments under one roof, each representing a distinct merchandise […]
Economic Integration: Various Levels Explained
Economic integration is an arrangement between several countries to improve trade between them. In the global landscape, Economic Integration usually can be classified into various additive levels. Regional Economic Integration (Preferential Trade Agreement) The WTO promotes free trade on a global basis, however countries in each of the world’s regions are seeking to liberalize trade […]
Self-Reference Criterion (SRC) Explained
In attempting to understand anther culture, we inevitably, interpret our new cultural surrounding on the basis of existing knowledge of our own culture. There is a human tendency towards ethnocentricity. These ‘biased’ interpretations happen unconsciously, and they prevent cultural empathy. Lee (1966) introduces the self-reference criterion to characterize our unconscious reference to our own cultural […]
The EPRG Framework/Model of International Business
EPRG (acronym for Ethnocentric, Polycentric, Regiocentric, and Geocentric) is a framework to explain internationalization approaches of businesses. It is used in the internationalization process of businesses, and helps understand the type of orientation a firm may have towards international business. The EPRG Framework explains Management assumptions (conscious & unconscious) or beliefs about doing business around […]
The Rising Power of Emerging Markets
The Emergence of a New Economic Powerhouse: The rise of BRICS (Brazil, Russia, India, China and South Africa) as the 21st century’s engines of global economic growth. There is a shift of power within the world economy towards these countries, especially China. These countries look interesting for global marketers due to the following reasons: Growing […]
Understanding Global Competition and Strategies Moves
Understand the structure of Global Competition and resulting strategic options. The Globalization of Competition An inevitable consequence of globalization of markets is the growth of intense competition on a global scale. Liberalization, deregulation and privatization are the three forces that are transforming the global business environment and lead to a greater number of competitors and […]
The 4 Vs of Operations Management Explained
In Operations Management, the 4Vs refer to the four dimensions used to assess operations processes. Typology of Operations: 4Vs Operations can be categorised into four dimensions, referred to as The 4Vs typology. These four dimensions are Volume, Variety, Variation in demand, and Visibility. Volume It refers to the Quantity (units) of products that a company […]
List of How-To Topics for Essays, Speeches, Presentations, and more
List of “How-To Topics” on a variety of subjects. You can use these for essays, speeches, presentations, demonstrations and more. Schools and Colleges often give various academic work to students to help them become more competent, become better writers or presenters. One way they do this is by giving them a “how-to” topic and ask […]
Bottom of the Pyramid (BOP) Markets
Prahalad (2004) and Karnani (2007) discuss the role of private sector companies in responsibly serving bottom of the pyramid markets (low income markets) in efforts to reduce poverty. Prahalad (2004) suggests that businesses and governments should stop thinking of the poor as victims but as value-demanding consumers. BOP markets should be part of core business […]
Global Advertising: Breaking Down Borders
Global advertising may be defined as messages whose art, copy, headlines photographs, taglines, and other elements have been developed explicitly for worldwide suitability. A standardized ad campaign requires a key message, delivered to the target audience, that must resonate across countries and cultures. Here are a few Examples: Nike (“Just do it”) McDonalds (“I’m lovin’ […]
Global Marketing: Definition, Scope, Strategies, Examples
In a globalized world, the entire world is a marketplace, and market segments are no longer considered based only on the basis of national borders. Products have always been travelling and international trade has existed for centuries. While international trade is not new, the mass-marketization of products in a globalized marketplace is new. Definition of […]
Indian Electrical Machinery Industry: Research, Analysis, Notes
Electrical Machinery Industry in India: Research, notes and projects. India’s electrical machinery and equipment industry is growing due to the improved electricity access in semi-urban and rural India. Several states in India today have a well-developed physical and industrial infrastructure and a well-developed power supply grid. Maharashtra has the maximum installed electricity generation capacity in […]
Organizational Structures for Global Marketing
The success of a global strategy is influenced by the selection of an appropriate organizational structure to implement that strategy. The ideal structure of such as an organization should be a function of: the products and services to be sold in a marketplace the external and internal environment Theoretically, the way to develop a global […]
Guide to Editing and Proofreading Academic Work
While creating an excellent assignment takes time, it is important to ensure it answers all the questions, flows well, looks good (formatting) and is free from spelling and grammatical mistakes. Here’s how to edit and proofread your academic work effectively to produce a high-quality academic work. What is Editing? Once you have finished your work, […]
Decision-Making Matrix (Pugh Matrix)
The Pugh Matrix is a decision-making tool that is used to compare multiple alternatives and select the most favourable one. In this method, the various options are evaluated based on several weighted criteria. This is a variation of the L-shaped matrix. This tool is also referred to by many other terms such as decision grid, […]
Global Market Segmentation: How firms assess and select markets
Global Market Segmentation: Here’s how firms screen and select country markets to enter. Importance of Entering the ‘Right’ Market There are over a couple of hundred countries and territories, but most firms do not compete in all those markets. Adding another country to a company’s portfolio requires additional investment and represents a new business risk. […]
Market Entry Modes in Global Marketing: Expansion Strategies
Foreign Market Entry Strategies: Various ways to enter the international market. Any company that wants to enter the international market has to take some strategic decisions pertaining to that foreign market; it has to analyse the market and plan its entry in that market, besides considering other factors. Expansion Strategy Concentration versus Diversification Concentration: A […]
Standardisation vs Adaptation (Glocalization) in International Marketing
Marketing mixes can be standardized (global) or they can be adapted (local). Marketing mixes of most global companies tend to be “glocal” with some amount of localization. Standardisation vs Adaptation in International Marketing Once the firm has decided which countries to enter and which entry modes to use the next issue concerns how to design […]
Internationalization: Definition, Models, Barriers
Internationalization is the process of expanding business operations beyond domestic boundaries to international markets using various market entry modes. Let’s understand the motives behind a company’s decision to compete in global markets, and the right time to internationalize. What is Internationalization? Today most large companies operate outside their home markets. “Internationalization” is the term used […]
