global business strategies
This four/five-day intensive course has been translated fully into Chinese and delivered with simultaneous interpretation to participants of the Executive MBA Program at Hong Kong University of Science and Technology (HKUST) Business School.
Course Aims & Objectives
The Primary Aim of the course is to provide participants with the analytical skills and technical competencies to undertake comprehensive strategy audits, create and implement ultra-competitive global business strategies and take efficient and effective strategic management decisions.
Related Course Objectives have been created to ensure that after attending the course participants will be able to:
- Profile the historical context of ‘globalization’ from the early days of mercantilism to the contemporary environment of 24/7 e-business global strategic management.
- Compare and contrast the market dynamics of developed and emerging markets.
- Understand global markets in their cultural context.
- Develop a comprehensive operational ‘go-to-market’ global strategic plan based upon external business environment analysis and organizational capability development.
- Understand the core concepts underpinning each strategic management component.
- Understand the key global marketing strategy design challenge: standardization versus adaptation.
- Understand the key global organizational design challenge: centralization versus decentralization.
- Be aware of the key issues which must be addressed prior to implementing competitive global business strategies.
- Assess the financial and general performance of global business strategies.
To achieve these objectives we employ a range of activities designed to encourage participation and to create an environment of shared learning experiences during our time working together.
Course Activities & Learning Methods
The course is designed to maximise the learning experience for participants through a combination of traditional lectures, real-world examples, guest speakers and small group work on a range of case scenarios. The sessions will be highly interactive and participants should be prepared to contribute to them by sharing their own business experiences in the context of the topics being discussed.
As with most executive development programs, group work which is focused on the analysis of case studies will form a major element of this course. When combined with traditional knowledge transfer sessions and individual study, cases allow participants to develop their analytical skills and, of equal importance, they can bring what can often appear to be abstract concepts to a real-world context.
Course delivery will embrace the following components:
- Participative lectures (knowledge transfer).
- Practical examples from the professor to illustrate the key concepts being taught.
- Case studies in small groups.
- ‘Workshop activities’ simulating real-world global strategic management challenges.
- In-class discussion forums.
- Guest speakers sharing their real-world experiences and insights.
This multi-activity approach will allow many practical examples to be examined in parallel with the business experience of course participants. Furthermore, these latter experiences will be addressed in a structured and systematic fashion using global strategic management frameworks tools and processes, thus giving participants insights into how they can effectively leverage their own knowledge base while at the same time learning from each other.
This course is designed as a comprehensive package on the multi-disciplinary subject of Global Business Strategies and it covers all the main topic areas of this and other more traditional disciplines such as international business. Those participants who would like to pursue the subject further will find the following book invaluable:
Colin Edward Egan (2018). Outside Fortress Europe: Strategies for the Global Market. Rugby: Strategic Management Think Tank
Course Outline, Content & Agenda
The course outline of global business strategies is structured in four broad sections and embraces five themes. These sections and themes are presented below, followed by the Course Roadmap.
- Section 1 provides a broad overview of the core principles of global business strategies. It demonstrates the key role of strategic management principles for organizational survival and prosperity in the global economy and it profiles the relationship between global market dynamics (mature & emerging) and the types of business strategies that companies pursue. A Framework for Global Business Strategy Success provides participants with insights into how global market analysis and business strategy development can be undertaken in a structured and systematic fashion. This framework is followed throughout the course. A company’s motivations for engaging in global markets (why?) are discussed alongside a consideration of global market entry timing (when?).
- Section 2 deals with the principles underpinning global market choice, i.e. it is concerned with the decisions which companies take regarding which high potential geographical markets to target (where?). Topics include analysing the broader business environment, market analysis, target market selection, understanding the cultural context of global business strategies, designing market intelligence systems for multiple global markets and undertaking competitor analysis, both global and local. Decisions relating to the crucial market entry mode choices made (how?), ranging from simple exporting to complex Foreign Direct Investment (FDI), are critically assessed.
- Section 3 deals with processes and decisions which lead to the creation of an operational ‘go-to-market’ plan (competitive strategy). Here we focus upon the alignment of the company’s capabilities with the target global market(s) selected and served. The central challenge of global marketing strategy is standardization versus adaptation and this is explored here.
- Section 4 deals with how global business strategies should be implemented and evaluated. The lessons learned from external global business processes are applied with reference to a discussion of internal capabilities & competencies development, processes that recognise that external business strategies must be supported by investments in employee quality and performance. Finally, the course briefly addresses how global strategic management programs are financed, evaluated and controlled.
The course follows a linear agenda in terms of its subjects and the sections presented above; however, five key themes permeate all subject headings:
|Theme One||Delivered Stakeholder Value|
|Theme Two||Strategic Clarity: Effectiveness|
|Theme Three||Operational Excellence: Efficiency|
|Theme Four||Organizational Design: Structure & Culture|
|Theme Five||Innovation & Entrepreneurship|
In addition to these themes, we discuss contemporary global strategic management issues and topics in the context of unprecedented market turbulence and business environment discontinuities. A number of analytical frameworks, processes and tools will be deployed to make sense of this complex global business context and to design winning strategies for achieving success within it.
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All content © Colin Edward Egan, 2021