Role Of International Strategic Management Within An Organization
There has been a lot of discussion over the last few years about how industries and businesses need to adapt their strategies to take into account the Circular Economy (CE). CE is about changing from our dead-end, wasteful ‘take, make, dispose’ linear production strategic approach to one in which we keep resources in use for as long as possible, extract the maximum value from them whilst in use, then recover and regenerate products and materials at the end of each service life (http://www.wrap.org.uk/about-us/about/wrap-and-circular-economy Accessed 01/10/19).
Please see https://www.youtube.com/watch?v=zCRKvDyyHmI&t=60s and https://www.youtube.com/watch?v=A5wn_iinbxw for an understanding of the Circular Economy.
What you are required to do in this assignment
Explain the key concepts behind the Circular Economy. Giving examples, discuss the barriers for businesses who want to transition to the CE? Give examples of businesses that have managed to successfully embrace the CE analysing why?
International Strategic management is a planning process which has aimed the developing strategies so that the organisation can expand and then compete internationally. In the process of development, there is always a need for strategic planning (Rothaermel 2017). There are four different types of strategies that can be used internationally. This will be helpful in operating businesses. It includes transnational, global, multi-domestic and international strategies. Management of these strategies is quite important for achieving the objective. It includes decisions related to products and services. It will be useful for companies at a time when they are entering and handling the competition. Market size can be increased through International Strategic management. There are economies of learning and scale. The companies are always in search of some techniques between the competence and resources of the organization and global environment where it is operating. Further, there will be a discussion on the circular economy. Some companies have already taken a circular economy. The barriers for the business in this