Strategic Management. Growing into a Foreign Market

This unique book has been carefully crafted and prepared with a conceptual framework. This framework is called the ‘Global Entry Strategy Chronometer’ or GESC. A chronometer is a high precision watch which accurately measures time and displays its internal mechanisms. This tool is made from a series of related components with cogs and wheels, which move as one sequential unit. Similarly, the GESC model works as a tool to accurately measure the status quo of a business, and displays all the strategic tool which work together to subsequently help formulate the most suitable foreign market entry strategy. The framework is organized in a two stage process. First, examining the organizational environment of a business and second providing a potential foreign-market-entry strategy to the organization. The newly designed strategic-management-model provides a framework for this book and minimizes the complexity formulating a foreign-market-entry strategy. The aim of this book is to help students understand that strategic management can be a practical area of study, where real-world solutions can be formulated thorough strategic planning and the use of a strategic-management-model. This model has two main stages; the first stage is defined as the Organizational Environment Process Stage, and it is followed by the second stage defined as the Potential Strategies Process Stage. The goal of this new model is to have a strategic process in place where current organizational issues are highlighted, strategies are linked to its current position, and a final solution can be formulated for a potential foreign-market-entry strategy. In the first stage, an in-depth business analysis is conducted, in order to gain a full understanding and appreciation of the current organizational internal and external conditions. This stage builds a solid foundation with valuable details which can provide a current and realistic status quo of the organization. The results of this analysis are of vital importance, as they provide the starting point to the second stage of finding the most appropriate global-market-entry strategy. In the second stage, contemporary strategic management theories are analysed and linked to the current organisational status quo. The robust link created will provide enough impetus to help formulate the final foreign-market-entry strategy.