Rosa Chargois CTU Online MGMT690 Phase 1 DB January 6, 2016 Way to Define a Global Strategy The way to define a global strategy is usually based on the capability and responsibility of a company towards stakeholders, markets and growth of business. This way to define a global strategy can prove its uniqueness because of meeting the expectations and understanding of the various stakeholders. Therefore, a global strategy can be defined as the business strategy that typically employed by the companies or organizations towards global business operations to carry out the consumers' needs and wants (Peng, 2013). In other words, a global strategy is a business strategy that is closely related to the business developing strategy when adopted by businesses to meet their short and long term objectives in the competitive market. Other International Strategies There are several international strategies that differ from each other in terms of some factors, such as product standardization and adaptation. Additionally, the international strategies related to business usually differ from a national business development strategy (Peng, 2013). International strategies basically emerged as a result of globalization of established or launched domestic companies that increase the value of the company. In this scenario, the three international strategies can be considered as multi-domestic, global strategy, and translational strategy. The multi-domestic strategy generally tries to sacrifice efficiency towards emphasizing responsiveness for the local needs and expectations within each of its markets. Further, the global strategy typically tries to give responsiveness for local requirements in favor of emphasizing efficiency. It is completely opposite of the multi-domestic strategy. Here, it is true fact that there is minor modification in the products and services in various markets, but in a global strategy it forces the need in order to gain economies of scale (Peng, 2013). At last, the transnational strategy generally identifies a middle ground between a multi-domestic strategy and a global strategy. In this, an organization always attempts to equilibrate or balance the desire for efficiency with the need in order to adjust the local preferences. Countries for Globalization The three possible countries for globalization can be considered as China, India, and Australia in which the capital of these countries can be the good location options. China and India are the most populated countries and Australia is known for the luxurious country. China and India are developing countries where furniture industry can be successful because of the increasing needs of the people (Kluyver, 2010). Further, these two countries have huge forests area that minimizes the difficulties of woods that are utilized in making the furniture. At the same time, the furniture industry in Australia can also be successful due to availability of large amount of forests plants and sales of woods furniture by the rich people. However, there are both the pros and cons of using these countries in global strategy. The main pros of using these countries in global strategy are the availability of huge market and population (Kluyver, 2010). Further, the other pros of using these countries in global strategy can be considered as product quality and consistency in manufacturing sector. Apart from these, the accessibility of current market and increasing well developed infrastructure around metropolitan areas are also some pros to use global strategy in the furniture industry for these countries. On the other side, there are some cons while using these countries in global strategy, such as environmental issues and bureaucracy. Corruption is also one of the main concerns that can affect the global strategy basically in the China and India. Selection of Country The country that I would like to choose is China due to the largest population in the world. But, corruption of this country can be an evidence for somebody else, who does not agree with me in the context of his/her choice. Now, in this condition, I would tell the responsible person that he/she is wrong on behalf of business opportunity for a long term in this country with huge profits (Danilo, 2011). The resources are available for the furniture industry that can fulfill the needs of the stakeholders. References Danilo, P. (2011). Global Strategy and Practice of E-Governance: Examples from Around the World: Examples from Around the World. USA: IGI Global. http://www.igiglobal.com/book/global-strategy-practice-governance/46168 Kluyver, C. (2010). Fundamentals of Global Strategy: A Business Model Approach. USA: Business Expert Press.https://open.umn.edu/opentextbooks/BookDetail.aspx?bookId=130 Peng, M. (2013). Global Strategy. USA: Cengage Learning. http://www.cengage.com/search/productOverview.do;jsessionid