Impediments to Global Competition Framework
Overcome obstacles to global competition
The Impediments to Global Competition Framework identifies the obstacles that can limit global competition, including economic, managerial, and institutional impediments. It provides a framework for assessing and overcoming these impediments to achieve global advantage.
- Economic impediments can limit global competition
- Managerial impediments can limit global competition
- Institutional impediments can limit global competition
- Identify Economic ImpedimentsDetermine the economic impediments to global competition, such as transportation costs and differing product needs.Pro tipConsider the industry's characteristics and the company's capabilitiesWarningBe aware of potential managerial and institutional impediments
- Assess Managerial ImpedimentsEvaluate the managerial impediments to global competition, such as differing marketing tasks and intensive local services.Pro tipConsider the company's resources and capabilities to overcome impedimentsWarningBe aware of potential institutional impediments
- Develop a Strategy to Overcome ImpedimentsCreate a strategy to overcome the impediments to global competition, including economic, managerial, and institutional impediments.Pro tipConsider the company's strengths and weaknesses, as well as industry trendsWarningBe aware of the potential risks and challenges of global competition
Companies like Samsung and LG have overcome economic impediments, such as transportation costs, to achieve global advantage in the television set industry.
Companies like L'Oréal and Estee Lauder have overcome managerial impediments, such as differing marketing tasks, to achieve global advantage in the high-fashion cosmetics industry.
The concept of impediments to global competition has evolved over time, with the rise of multinational corporations and globalization. As companies expand their operations globally, they must navigate various obstacles to achieve global advantage.