Strategic Decision Making
Whenever new market is formulated, management has to note the competitors of the organization. The environment has to be continuously monitored for forming a strategy. Planning has to be made in a sense that the firm may have competitive advantage. It makes the organization committed enough to meet the external threats and profit from the environmental opportunities. Planning involves adoption of the course of action and allocation of resource for meeting the long term objectives.
Amongst the various courses of action available, the, management have to choose the one which utilizes the resources of the organization in the best possible manner and helps in the achievement of the company objectives. A series of decisions are taken and they are in the same direction. Once there is a series of decisions to accomplish the objectives in the same direction, there will be synergy. Long drawn planning boosts the prospects by providing energy. “The essence of business is Synergy” was well describe by international analyst Robert Hure.
Within three decades, world trade has expanded manifold. Many experts are placing greater emphasis on trade liberalization, globalisation of markets, advances in communication and efficient transportation methods, thus allowing countries to be exposed to a wider arrange of goods from other goods. Competitive International Market Analysis The purpose of international marketing is to determine and communicate a picture of enterprise through a system of major objectives and policies.
Export is concerned with at unified direction and efficient allocation of organizations resources. A well made export planning guides managerial action and thought which provides an integrated approach for the organization and aids in meeting the challenges posed by the new goal. The nature of International marketing is correlated by the following facts: It is a major course of action through which an entrepreneur relates itself to its new objectives particularly in meeting the target of the organization.
It is the combination of actions aimed to meet a particular target, to solve certain problems or to achieve a desirable end. The actions are different for different situations. It is future oriented which are required for new situations which have not arisen before in the past. It provides overall framework for guiding enterprise thinking actions. It requires some systems and norms for its efficient adoption in any organization.
International Marketing is relevant to growth provided it is viewed as a total business effort. Marketing effort on the part of the firm both at the macro and micro levels is relevant to growth. General Role of International Marketing The first and foremost role is that it stimulates potential aggregate demand and thus enlarges the size of the market. Further role which marketing plays is that it helps in the discovery of entrepreneurial talent and improving the sale of the product.