Marketing Plan For A Global Business Essay - 1585 Words

INTRODUCTION This is the first Masters level and business focused class I have ever taken. Most topics are completely new to me, although there have been a number that have peaked my interest, for the most part this materiel is all new. The concept of incorporating a global focus into one’s business plan seems practical since today’s age of technology is expanding the reach of all but few businesses. To focus strictly on the domestic possibilities limits a businesses’ potential and minimizes the broad reach of resources that a global environment offers. Prior to this class I did not realize how many advantages are associated with a global outlook. The following are some of those advantages: managers and entrepreneurs have access to a larger talent pool for possible employment; natural resources are abundant both labor and supply; the possibility for growth is enhanced; and with that comes the possibility for increased profit. In order for entrepreneurs and managers to r eap the benefits of a global business, they must first structure a business plan based on their strategic vision to incorporate a more globally focused business process. When venturing into uncharted waters such as the global market or foreign investment, there are a number of pitfalls related to cultural variations that can derail even the most successful of domestic companies. Therefore, it is imperative for managers and executives to develop a globally focused business plan based off of stringentShow MoreRelatedToyota Motor Corporation: SWOT Analysis and Development of a Marketing Strategy1261 Words   |  5 PagesMarketing Strategy for Toyota Motor Corporation: Toyota Motor Corporation can largely be regarded as a success story because the firm has personified the success of Japanese automakers in the global auto market. 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