International Business Strategy Essay Example | Topics and Well Written Essays - 2500 words

outside(a) Business Strategy - Essay ExampleUnder the stages approach, learning occurs first within the domestic food merchandise and then the business seeks opportunities in culturally-similar foodstuffs before ultimately expanding into a foreign merchandise and developing the tolerate market entry strategy for this new foreign environment.Virgin Group, founded by Richard Branson, is an excellent font of a conglomerate that has utilised incremental foreign market entry strategies. The Virgin group first gained market experience in the United Kingdom, then selected entry into the United States, a location with similar socialisation to find market success utilising knowledge gleaned through UK business practices. Today, Virgin Group has built immense marketing prowess and human capital advantages that allow the company to align strategy with foreign market characteristics. Common practices and metric within a variety of subsidiaries was gained through knowledge management an d knowledge take out that could, in the long-run, be applied to new and innovative business practices aligned with foreign culture and market characteristics.The Uppsala model is a rather common sense business model that strongly reinforces the necessity for knowledge management. Learning occurs through social, technological, organisational and marketing-based conceptions that build competencies, performance, and determine the appropriate market entry strategy required to border foreign market demands in the pursuit of becoming a global corporation. Wal-Mart is a relevant example lending support to the Uppsala model, as this business determines a variety of unique market entry strategies, including adjunction ventures and acquisitions, in order to build knowledge about foreign culture preferences before ultimately find out an appropriate strategic policy aligned with foreign market characteristics. For instance, in Canada, consumers are socially