Thursday, October 17, 2019

Strategic plans Essay Example | Topics and Well Written Essays - 500 words

Strategic plans - Essay Example An organization that aims to be cutthroat in today’s competitive market needs to seek talent and expertise from a broad array of countries and continents. This allows it to deal with consumers coming from different backgrounds, cultures, ethnicity and education. How a company deals with its operations to reach zenith necessitates integrated processes and functions. The company can curve to socioeconomic conditions in the ways it tailors its goods and services without disturbing the cultural sensitivity of either the employees or the consumers. In many circumstances a company will have to adapt its products and marketing mix strategy to meet unchangeable local needs and wants. Global player like Mcdonald has adapted its burgers to the local needs. In India where a cow is a sacred animal they serve their burgers with chicken or fish whereas in Mexico burgers come with chilli sauce (Jones, 2009, p.87). It is arguable that standardization is better for organizations because it reduces cost; however the thriving companies are ones which think globally, but act locally. In spite of globalization, geographic, demographic, economic and cultural characteristics of consumers vary dramatically in different countries. Thus it is critical to imply that, a business will need to adapt its product mix, communication and marketing strategy to match the disparity in product preferences, product uses, consumers’ attitudes, shopping patterns, income levels and education. Dennis and Harris manifested global branding strategy as a local plan for each served market by carefully singling the most significant differences and tailoring the products and services to suit local tastes and conditions (Beeson, 2011). According to them having a standard approach worldwide without considering local preferences and cultural differences a company is doomed to failure (Lauterborn, 2011, p.56). Food and beverage organizations can easily fall prey to impediments

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