Business Structures
This structure separates a company's domestic & International operations into two distinct divisions.
International Division Structure
a company’s core purpose and reason for existing.
Mission Statement
The first step in strategy formulation involves identifying the company’s purpose through this guiding statement.
Mission Statement
One advantage of an international strategy is that it allows a company to reach more of these around the world.
Customers & Markets
In this structure, a company organized its operations by geographic regions such as Asia, Europe, and the Americas.
International Area Structure
Tesla's statement: "To accelerate the world’s transition to sustainable energy,” is an example of what kind of mission statement?
Social-Responsibility Focused
the process of deciding what a company should do to achieve its goals and compete successfully.
Strategy Formulation
A disadvantage of international expansion is that companies may face these kinds of barriers, such as tariffs or quotas.
Trade Barriers
This structure divides global operations according to the company’s product lines, such as electronics, apparel, or software.
Global Product Structure
This word describes the people or groups a company tries to serve.
Target Audience
In strategy formulation, a company analyzes its internal strengths and weaknesses and external opportunities and threats.
Company Analysis
A key advantage of organizing internationally is that companies can lower these by producing in countries where labor or materials are cheaper.
Costs
This structure combines both product and geographic divisions, creating a dual reporting system for managers.
Global Matrix Structure
A mission statement tells you what a company does right now. A vision statement tells you what it wants to be in the....
Future
This final stage of strategy formulation involves choosing among different options and setting long-term goals for growth.
Strategic Choice/ Formulation
One major disadvantage of international operations is that companies must deal with differences in laws, languages, and traditions, also known as these...
Cultural & Legal Differences
In this team-based approach, employees from different departments work together on projects without changing the company’s overall structure.
Cross-Functional/ Global Teams
Who's company mission is “To inspire and nurture the human spirit- one person, one cup, and one neighborhood at a time”?
Starbucks
This type of analysis helps a company understand how strong competition is in its industry.
Industry Analysis
A disadvantage of international operations is that managing across different time zones can slow down this important process.
Decision-Making