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MANAGEMENT AND INTERNATIONAL BUSINESS - INTERNATIONAL BUSINESS ASSIGNMENT

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Introduction

MA MANAGEMENT AND INTERNATIONAL BUSINESS INTERNATIONAL BUSINESS ASSIGNMENT The customers and their needs define markets. The extend to which a market is global will depend upon the extend to which customer needs for a product or service are similar throughout the world. "Technological changes, social, political and economic developments have driven the world towards Globalisation." Globalisation is an important emerging business mandate relevant to virtually all businesses. "Global businesses have the ability to undercut the prices of more nationally oriented competitors. The modern meaning of "globalisation" implies a global perspective of the particular area of study, a perspective that arises from the increased interdependence of national institutions and national economies. Under Globalisation we find a homogenised unified global market in terms of consumer taste and product preferences. The global environment is increasingly complex and requires more sophisticated approaches to strategy. Globalisation has enabled businesses to gain a global competitive advantage by configuring its activities by take advantage of the differences arising around the globe and coordinating global activities effectively." Several organizational structures have emerged to meet the growing demands of globalisation. While markets are becoming more global consumers are becoming more sophisticated demanding goods and services that are differentiated rather than standardised. One such organizational form is the Transnational Corporation (TNC). The defining characteristic of transnational companies is their geocentric orientation. HISTORY OF BURGER KING "Burger King was formed in 1954 by James McLamore and David Edgerton in Miami, Florida. The original WHOPPER Sandwich introduced by Burger King in 1957 was sold for only 37 cents. It was an instant sensation and immediately became their flagship product. Today the WHOPPER(r) is world renowned for its fire-grilled taste. The great success of the early restaurants made the BURGER KING concept a natural for selling franchises. The concept spread rapidly throughout the1960's. The first international franchise restaurants opened at Puerto Rico in 1963. The vision for the BURGER KING brand hasn't changed over time but the restaurants have. ...read more.

Middle

MARKETING * Burger King has been able to create a very strong Brand image in the minds of its customers. For instance, the word WHOPPER is always immediately associated with Burger King. Efficient use of the Brand name has also been undertaken. * Burger King created a viral marketing mascot, the Subservient Chicken. For this they hired a man to dress in a feathered costume and act out 400 different functions in a seedy basement apartment reminiscent of an amateur '80s porn set. It appeared on 63 broadcast segments, including five separate segments on the Apr 17 edition of Fox & Friends. As of October, the site had generated 338 million hits from 12 million unique visitors averaging six minutes per session. This is a marketing strategy * Burger King Corporation's advertising campaigns has also effectively contributed to the Company's success. The first advertising punch line for Burger King," Burger King, HOME OF THE WHOPPER(r)" was developed in the year 1958. Burger King spends about $300 million in advertising every year. The latest punch line is "HAVE IT YOUR WAY(r)". * Burger King's marketing strategy concentrated on product differentiation I in the 1980's by offering a more diversified menu. Efforts were made to attract new market segments by including broiled chicken on the menu and by offering Haagen- Dazs ice cream bars. But sometimes Burger King's advertising campaigns appeared to have missed their mark in several instances. * Sometimes the consumers get used to a particular brand or product. This is referred to as Routinized Response Behaviour (RRB). But this does not necessarily mean that the company does not have to take steps towards innovation. As far as Burger King is concerned, the customers are happy with the Whopper burger and it has also proved to be profitable for the company. But Burger King should look at things in a wider perspective. They must also be aware of what their competitors are providing and accordingly alter their marketing. ...read more.

Conclusion

This is also another important consideration. If the company is set up in a place where there is scarcity of good quality raw material and lack of skilled or semi skilled labour, then it's functioning will be disturbed. This will extend a negative impact on the cost, efficiency and quality of company's productivity. A transnational like Burger King, must carefully analyze all these factors and accordingly develop strategies. They must evaluate their strengths and weakness and adopt necessary steps. This will help them the with stand the ever-growing competition. CONCLUSION: Burger King is a well established transnational company which extends its working to different parts of the globe. But at the same time, they need to take measures to innovate and bring about changes to their strategies of functioning and marketing. Redefinition of the issues allows managers of the transnational company to develop a broader perspective and leads to very different criteria for making choices. On a global perspective, the transnational managers at Burger King need to encourage a shared vision and personal commitment to integrate the organization at the fundamental level of individual members. This is vital in order to maintain similar standards of quality and efficiency in all their outlets. Elements of the company's administrative heritage must be considered on equal terms with the economic, political, and other external pressures while deciding on configuration, strategies, marketing policies etc. In the current international environment, the company's ability to innovate is rapidly becoming the primary source of competitive success. They must be able to develop a competitive edge in comparison with the others to maintain their market stand. 'Organisations must become intelligent and remain focused upon the creation and management of knowledge, which forms, forms the basis of competitive advantage.' (Stonehouse et el, 2001, pg 364) Being a transnational, Burger King must be able to reconcile the diversity, of perspectives and interests, it deliberately fosters. Structural changes need to be adopted wherever necessary. But bearing in mind that it is a blunt instrument that can have a devastating effect on established organisational processes and managers motivation if improperly implemented. ...read more.

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