You are on page 1of 3

International Factors Affecting Business Developments

1. Strategic Relationship - Agreement between two or more entities to conduct specified activities or processes, to achieve specified objectives such as product development or distribution. - both supplier and user strive to work closer together on common goals, for the benefit of both organizations. To achieve this value, we need the following: I.
Building Organizational Capacity Identify the types of strategic relationships required to support your business objectives Determine organizations with whom you should forge relationships Develop standard models for managing your strategic relationships Analyze your current processes for managing strategic relationships Develop and implement new practices that fit your organization's needs and goals Managing Specific Relationships


Crossed communication Differing values Dissimilar organizational cultures Competing positions and disguised interests


Developing Skills in Strategic Relationship Management

2. Intellectual Property - The ownership of ideas. Unlike tangible assets to your business such as computers or your office, intellectual property is a collection of ideas and concepts.

- in the United States, there are only three ways to protect intellectual property: through the use patents, trademarks or copyrights. A patent applies to a specific product design; a trademark to a name, phrase or symbol; and a copyright to a written document. All three methods have limitations -- there's no one perfect way to protect an idea.

3. Emerging technology - New technologies that are currently developing or will be developed over the next five to ten years, and which will substantially alter the business and social environment. These include information technology, wireless data communication, man-machine communication, ondemand printing, bio-technologies, and advanced robotics.

4. Global Marketing - The process of conceptualizing and then conveying a final product or service worldwide with the hopes of reaching the international marketing community. Proper global marketing has the ability to catapult a company to the next level, if they do it correctly. Different strategies are implemented based on the region the company is marketing to. For example, the menu at McDonald's varies based on the location of the restaurant. The company focuses on marketing popular items within the country. Global marketing is especially important to companies that provide products or services that have a universal demand such as automobiles and food.

5. Information Management - Application of management techniques to collect information, communicate it within and outside the organization, and process it to enable managers to make quicker and better decisions.

6. Knowledge Management - Strategies and processes designed to identify, capture, structure, value, leverage, and share an organization's intellectual assets to enhance its performance and competitiveness. It is based on two critical activities: (1) capture and documentation of individual explicit and tacit knowledge, and (2) its dissemination within the organization.

7. Advertising - The activity or profession of producing information for promoting the sale of commercial products or services.

8. Partnering - Establishing a long term win-win relationship based on mutual trust and teamwork, and on sharing of both risks and rewards. Partnering

arrangement can be between labor and management, subordinates and the executive, suppliers and customers, and suppliers and suppliers. The objective is to focus on what each party does best, by sharing financial and other resources, and establishing specific roles for each participant. See also joint venture and strategic alliance.