Page 287 - DMGT545_INTERNATIONAL_BUSINESS

International Business Neetu Singh, Lovely Professional University

notes unit 15: Global strategic management and Business ethics

contents

Objectives
Introduction
15.1 Global Strategic Management and Business Ethics
15.2 Peculiarities of Global Strategic Management
15.3 Value Creation
15.3.1 Firm as a Value Chain

15.3.2 Primary Activities
15.3.3 Support Activities
15.4 Global Strategic Management Process
15.5 Collaborative Strategies

15.6 Ethics and Global Business
15.6.1 Global Business Ethical Issues

15.7 Summary
15.8 Keywords
15.9 Review Questions
15.10 Further Readings

objectives

After studying this unit, you should be able to:

l z Learn the concept of global strategic management
l z Discuss about the business ethics
introduction

We have described in earlier units that the environment in which international business competes
include the different political, economic and cultural institutions found in nations. Our focus
now shifts from the environment to the firm itself and in particular to the actions managers take
to compete more effectively as an international business. We discuss how firms can increase their
profitability by expanding their operations in foreign markets. We discuss different strategies
that firms pursue when competing internationally, pros and cons of these strategies, the various
factors that affect firms’ choice of strategy and what practice firms adopt across various national
markets.

15.1 Global strategic management and Business ethics

Global strategic management is a subset of strategic management, any definition of global
strategic management has to be built on basic definitions of strategic management, with an
added explanation of the global dimensions. So what are these global dimensions? We use the
three differences between international strategy and global strategy to define global strategic
management. Global strategy dimensions can be categorized into three main dimensions: the

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