Chapter 7: Strategies For Competing In International Markets

Salam....
In my opinion if we want to expand our companies,we need to brave to compete each other either in the local markets or international market.So,we need to plan a strategies to enter it. For this chapter i would like shares about what have i learned.

The reasons companies choose to compete in international markets are:

• To gain access to new customers
• To achieve lower costs through economies of scale,experience and increase purchasing power
• To further exploit its core competencies
• To gain access to resources and capabilities located in foreign markets
• To spread its business risk across a wider market base

 There have 5 strategic options for entering foreign market:

• Maintain a national (one country)production base and export goods to foreign markets
• License foreign firms to produce and distribute the company products abroad
• Employ a franchising strategy
• Establish a subsidiary in a foreign market
• Rely on strategic alliances or joint ventures with foreign companies

A company must choose among three alternative approaches for competiting internationally

1. A multidomestic strategy or think –local
2.  A global strategy
3.  A combination think –global,act –local approach 

that's all from me,tq

Chapter 6: Strengthening a company’s competitive position

Assalamualaikum w.b.t

What I learned from this chapter is to improve the market position and business performance,the company must to go on the offensive.Strategies offensive should be grounded in a company’s strategic asset and employ a company strength to attacks rivals in the competitive areas.

Company have a  number of offensive strategy options for improving their market positions by using a cost based advantage to attack competitors on basis of price or value,leapfrogging competitors with next generation technologies,pursuing continuous product innovation,adopting and improving the best ideas of other and ect.

The purpose of defensive strategies are :

• to lower the risk of being attacked
• weaken the impact of any attack that occurs
• influence challengers to aim their effort

Strategic alliances and cooperative partnerships provide one way to gain some of the benefits offered by vertical integration,outsourcing,and horizontal mergers and acquisition while minimize the problems.

Thats all from me.TQ

Sharing Session : O-SHIMA RESTAURANT

On 12 Nov ago, I would like to share to u all of what I get during sharing session  with Pn Asnidar Hanim Yusuf,who are the founders of Japanese restaurant,O-SHIMA Restaurant .When I heard the name of this restaurant,I think maybe the owner is Japanese people but I am wrong.The owner of this restaurant is Muslim and the food provided are totally  100 % halal.Main dishes of their restaurant is Japanese food
O-SHIMA restaurant is located in Shah Alam and started on year 2009.

From this session,what I can conclude is every kind of business that we have run there have a lot of challenge and obstacle that  we will face, but there always have a solution to overcome  the problem and sustain the business.The most important thing is always being positive and ikhlas Lillahi Taala when do something

Chapter 5: FIVE GENERIC COMPETITIVE STRATEGIES~

Assalamualaikum all,now I would like share about what I learn in chapter 5 (five generic competitive strategies).Actually there have 5 generic competitive strategies:

     A low cost provider strategy

      A broad differentiation strategy

      A focused low –cost strategy

      A focused differentiation strategy

      A best – cost provider strategy

To be continued…..

 Chapter 4 :evaluating a company's resources,capabilities and competitiveness

4th lecture with Dr Ummi, we discussed a technique for evaluating how well a company present strategy working.The first thing to examine is the company competitive approach.On this topic there have 5 analytical tools that can be use for company competitiveness.They are(resource and capability analysis,SWOT analysis,value chain,benchmarking and competitive strenght assessment).

Lets we move deeply about resource and capability analysis.First,we must define what are the important resources and capabilities of the company's competitively.Resources is a competitive asset that is owned by company and it is divided into 2 categories which are tangible resources and intangible resources.Meanwhile,capabilities is the capacity of the company to perform some activities.
This analysis will be measured by using VRIN test for sustainable competitive advantage.

What is VRIN???
VRIN can be refer to :

Valuable

Rare

Inimitable 

Non sustainable

ok,now lets we move to SWOT analysis.By using SWOT analysis,we can identify the company strenghts,weaknessess,opportunity and threats

next tools is value chain.A company value chain identifies the primary activities that related with support activities.

Chapter 3 : evaluating a company's external environment

assalamualaikum...

on 3rd lecture we learned about how to evaluate a company's external environment.There have some method how to make an evaluation.First,by using PESTEL analysis.What is it?Now i will let you know.

PESTEL analysis is focus on 6 principle component that involved which are:

The other method that can be use is 5 Forces Model

that's all from me...thank you

wasalam

Chapter 2 : The Nature of Strategic Management

Salam Everyone!!!

On the second lecture,we learned 2 topics which are "The Nature of Strategic Management" and "Business Vision and Mission".At the first topic Miss Ummi emphasized the meaning of strategic management and it process.
The strategic management have 3 stages which are:

1)strategy formulation

2)strategy implementation

3)strategy evaluation

based on my understanding, strategy formulation is our early planning before do something.strategy implementation is we conduct and do on what we have plan in the early and lastly strategy evaluation is a result whether our first planning is success or not.

for the second topic,what can i understand about business vision and mission is,before we start up our business,the first thing that we must defined is our goals.

Jazakallah...