Potters Theory Analysis

Question: Describe about the Potters theory. Answer: Relevance of the porters theory of the competitive advantage on nations in globalized economy Potters theory of the competitive advantage is still found to be relevant in the context of the globalized economy. Porter's Theory is considered to be of huge important to the globalized market economy as this helps in executing the business process of the concerned firm. It helps in understanding the desired demands as well as the needs of the customers throughout the different market segments across the globe. It is evident to know that the desired competitiveness of a particular nation merely depends on the capacity of the concerned industries which innovates or upgrades. The Theory of porters theory are industry rivalry, bargaining power of suppliers, threat from subsidiaries, bargaining power of buyers and the crucial threat from the new entrants[1]. The desired pressure, as well as the challenges for executing the business process globally, helps in providing the best advantage to the concerned companies over the competitors. The engaging of the local suppliers plays the most significant role for the different complies to execute their concerned business processes throughout the different market segments of the world. There are different companies like McDonald Corporation and Nike Inc which has successfully used the desired from the use of porters Theory to understand the desired market requirements of the concerned marketplace[2]. McDonald corporations has significantly enhanced its business processes by entering into the new market segments by understanding and offering the desired needs of the concerned customers. Different market segments have different needs and it becomes very crucial for the firms to assist by analysis the different factors such as political, economical and many other factors. This provides the desired competitive advantage to McDonald Corporation over the respective competitors throughout the world. The Nike Inc used the porters theory to increase the selling of the products and this theory helped in recognizing the change in the trend throughout the different countries concerned. Offering desired products s per the change in the fashion style attracts the customers and this helps in increasing the sales revenue within the different nations throughout the world. The analysis of the Theory of Porter's helps in providing the four of the crucial attributes such as the factors conditions, demands conditions, the presence of the desired supplier industries and the strategy of the concerned firm. The availability of the desired resources as well as the skilled labors for the concerned firm helps in providing the desired competitive advantage to the desired firm. Suitability of global marketing for different products There are different types of the products which can be easily sold throughout the different market segments of different countries of the world. The different types of the fast food and the fashion products especially the clothes, shoes and the sunglasses area considered to be suitable for the global markets. McDonald Corporation is one of the leading fast food chains which market its respective products throughout 59 countries throughout the different parts of the world. McDonald corporation uses several campaigns such as kick the trash, you-tube campaigning and many others. Moreover, the company identifies the desired offerings from the local suppliers and offered much better services than that and therefore porters theory critically helped in increasing the selling of the products. Differentiation in the quality of the products and the prices of those products helps in serving customers with better quality. This particular campaign helped the firm to have a competitive advantage over the other competitors and the firm worked and delivered satisfactory foods s well as services to all of the customers concerned. Moreover, these ideas helped in attracting the desired customers and the brand name of the firm establishes the brand loyalty in front of the clients concerned. This campaign hel ped the firm in eliminating the other competitors within the concerned market segments and brought desired profitability for the firm. The coco-cola company uses the desired idea of packaging, effective promotional campaigns and the distribution channels to increase the selling of its respective products in different countries. Coco-cola launched a promotional campaign named as one brand which created a great impact on the minds of the concerned consumers[3]. One brand has been used as the desired global marketing approach from the coco-cola company. This approach helped in differentiating the desired quality of the products offered by Coco-cola Company and the other beverages company within the concerned market segments. Advantages and disadvantages of global marketing strategies The biggest advantage of the global marketing strategy is that it provides the desired platforms to the concerned firms to increase the desired selling off their respective products within the different market segments throughout the world[4]. These global strategies help in reaching a large number of the customers and bring out the desired high profitability for the firm. The use of the different franchises will help in increasing the desired sales revenue and the higher profitability for the firm. The disadvantage is the macroeconomic risks and the operational risks involved in the execution of the business process throughout the different parts of the world. The difference in the choices of the consumers, as well as the differentiation of pricing strategies, affects the global strategies[5]. The legal and the ethics of the concerned country sometimes affect the execution of the business process of the concerned firm. Supporting of CSR approach and initiatives to companys core business processes The CSR approaches of the different companies help in enhancing the overall execution of the business methods of the concerned firm within the concerned target market segments. Moreover, the CSR approaches provide the desired elevation in the execution of the core business process of the company concerned. The suppliers of the raw materials, shareholders and the concerned customers are considered to be of great importance and these helps in evaluating the desired growth of the concerned organization[6]. There are several other companies which have adopted several CSR approaches and initiatives for the welfare and the development of the concerned community. Tyson Foods is committed towards the reliving of the ultimate and the child hunger and used the social media to provide the relieved efforts to the concerned people[7]. The CSR approach of McDonald Corporation is the desired use of 3R's which stands for reducing, rescues and recycle and this helps in maintaining the restaurants cle an and healthy for the people concerned[8]. Concentrating on the desired CSR efforts as well as the understanding of the desired benefits will help in evaluating the desired growth of the concerned firm. Tacit and explicit knowledge suitable for International Company Understanding the desired requirements as well as the needs of the concerned market segments will help in expanding the business process of the particular concerned. Formulations of the new, as well as the innovative ideas, are of great importance[9]. There are different methods to share the tacit and the explicit knowledge for the companies operating throughout the international market segments. These are as follows: Altruistic sharing Networking Face-to-face sharing Video sharing Chatting Storytelling Personalize knowledge These are the different methods by which the tacit as well as the explicit knowledge is shared in different compiles operating globally. Face to face communication helps in identifying the desired issues and the needs of the customers and will also help in managing the diverse cultures of the different people coming from different countries. Tacit information is technological or cognitive as well as is prepared up of psychological models, principles, beliefs, perception, approaching along with assumptions. The personalize methods helps in evaluating the desired facts related to the desired needs and the demands of the concerned market segments. Acquiring, teaching and the measuring of the desired tacit knowledge helps to enhance the desired selling of the concerned products of the firm. The cross-cultural communication, as well as the barriers of the communication process, needs to be understood as this will, evaluate the desired growth of the concerned firm[10]. Five of the crucial ideas before the formulation of the effective tactics as well as the desired explicit knowledge are like. First of all the concerned firms operating t business process globally needs to understand the desired demands and the needs of the concerned customers, positioning the desired name of the firm, understanding the behavior of the customers, bad translation and many others[11]. References Cihelkova, E E Frolova, "The Impact Of Regionalism On Regional Development Under The Conditions Of A Globalized Economy". inEoR, 2014, 45-57. D'Apice, V G Ferri,Financial instability. in , New York, Palgrave Macmillan, 2010. DATTA, R, "Globalized Arts: The Entertainment Economy and Cultural Identity". inInternational Studies Review, 14, 2012, 455-457. Dobson, H, J Gilson, G Hook, C Hughes,Japan's International Relations. in , Hoboken, Taylor Francis, 2011. Dobson, W,Partners and rivals. in , Toronto, University of Toronto Press, 2013. Kee, P H Yoshimatsu,Global movements in the Asia Pacific. in , Singapore, WorlScientific, 2010. The globalization reader. in , [Place of publication not identified], Wiley-Blackwell, 2014. "The Latest Statistics for Imports and Exports". in , 23, 2015, 125-126. Weiss, M, "Minimum Labour Standards in a Globalized Economy". inJournal of Science, Humanities, and Arts - JOSHUA, 2, 2015. [1] E Cihelkova E Frolova, "The Impact Of Regionalism On Regional Development Under The Conditions Of A Globalized Economy", inEoR, , 2014, 45- [2] V D'Apice G Ferri, Financial instability, in , New York, Palgrave Macmillan, 2010. [3] R DATTA, "Globalized Arts: The Entertainment Economy and Cultural Identity", in International Studies Review, vol. 14, 2012, 455-457. [4] R DATTA, "Globalized Arts: The Entertainment Economy and Cultural Identity", in International Studies Review, vol. 14, 2012, 455-457.[5] [6] H Dobson et al., Japan's International Relations, in , Hoboken, Taylor Francis, 2011. [7] H Dobson et al., Japan's International Relations, in , Hoboken, Taylor Francis, 2011. [8] V D'Apice G Ferri, Financial instability, in , New York, Palgrave Macmillan, 2010. [9] M Weiss, "Minimum Labour Standards in a Globalized Economy", in Journal of Science, Humanities, and Arts - JOSHUA, vol. 2, 2015. [10] The globalization reader, in , [Place of publication not identified], Wiley-Blackwell, 2014. [11] W Dobson, Partners and rivals, in , Toronto, University of Toronto Press, 2013.