between standardization and localization. Standardization can be seen in the following aspects: * Consistency in color separation of its signage and presentation of the corporate logo. This makes sure a consistent image of 7-eleven can be established worldwide * Arrangement of the store interiors. 7-eleven uses uniform floor plan for every US store‚ while in Taiwan‚ though the store’s layout can vary as the area available is smaller‚ it still maintain a similar format and Localization: Service
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Lao Open Source Movement and the Loalization efforts Mr. Anousak Souphavanh Open Source Developer/Evangelist March 18‚ 2010 Khone Kean‚ Thailand Agenda Country background Government and Private sector Lao Open Source movement and localization efforts Conclusion Background Country: East of Thailand‚ west of Vietnam‚ north of Cambodia‚ south of China Total Population: 6 million (2005) Number of websites in English and other languages: Approximately 100 websites‚ all in English (Lao langauge
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international expansion. Also sheds light on other globalization issues such as market entry strategy‚ localization vs. standardization‚ the effect of regulation changes on the competitive landscape‚ and firm performance. Learning Objective: (Taken From Harvard’s site) To address competitive advantage and its sources (differentiation and cost leadership); debate standardization and localization in international expansion and strategy formation--the fit between firm strategies and external environments;
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International Business Essay Exam #2 In what kind of industries does a localization strategy make sense? When does a global standardization strategy make most sense? The industry that localization strategy would make sense would be the automotive industry‚ manufacturing factories‚ and I want to stay the big chain grocery stores. By these firms customizing the products they offer to local demand‚ the firm increases the value of that product in the local market. But on the downside‚ it involves
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Product standardization Definition : Product standardization in business is the process of developing same product for multiple countries. Advantages: The main advantage of product standardization is cost saving. Cost reduction will give economies of scale. Since you are making large quantities or the same‚ non-adapted product - you benefit from the advantages associated with manufacturing in bulk. For example‚ components can be bought in large quantity which reduces the cost-per-unit. These
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Midterm Exam #2As the current CEO of Coca-Cola‚ I will pursue the strategy of localization‚ and there are several reasons below. First of all‚ because each country has its own culinary culture‚ Coca-Cola needs to adapt to a variety of culinary culture to increase their sales. Unlike products like cell phones or laptops which can become the best products as long as they are most advanced and practical‚ there is no best beverage because it’s really hard to identify. It means that Coca-Cola should
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Balancing the Paradox of Localization and Globalization: Research and Analyze the Levels of Market Involvement for Multinational Carmakers in China’s Market Authors: Chen Jun Jiao Zhiqiang Tutors: Dr. Philippe Daudi‚ Dr. Mikael Lundgren Program: Master’s Programme in Leadership and Management in International Context Subject: Level and semester: Master’s Thesis Masterlevel Spring 2008 Baltic Business School CHEN Jun &JIAO Zhiqiang 16/05/2008 Acknowledgements
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start to emerge. It is important that the pacemaker evolves over time or competitors will develop a better product. "Global Standardization" may be an option because customization of the pacemaker is not needed. It is a universal product. Costs will be low. Aggressive pricing can be used. The drawback is a competitor may create a better product through evolution. "Localization" would not work because customization is not needed. Consumer tastes and preferences do not come into play for this product
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markets are key issues in order to achieve the expected success. The international human resource management models developed in the last decade pursues a contextual analysis of the standardization (global integration) of multinational parent companies ’ human resource management policies and practices and localization (local differentiation) of host countries practices.(Stevens‚ 2012) In order to have effective results within the Human Resources in the new market‚ the design and development of the
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Assignment 1: HRM in an MNE Nicole Boehm (Coveley) Global Human Resource Management (Bus 325) Professor Sandy Hughes July 24‚ 2014 1. Compare and contrast two (2) main differences between domestic and international HRM. Human resource management refers to all activities undertaken by an organization to effectively utilize human resources. The activities included for HRM is planning‚ performance management‚ staffing‚ development‚ compensation‚ and employee relations. Over the past couple
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