7BSP0355-0901 International Business Strategy Assignment Sample
Introduction
The aim of the report is to implement an international business plan that helps Qantas to intervene in the new market. Due to globalization in liberalization, international businesses are implementing different strategies that help them in gaining a competitive advantage. Porter’s five forces and PEST analysis are effective for identifying the barriers and loopholes in an international environment and formulating a suitable plan (Lohmann & Spasojevic, 2018). Qantas is planning for providing better service to the stakeholders and applies the CSR policies for making it a reputed organisation in the international market. Learning from each week is discussed clearly in this purport for a better understanding of the international business environment.
Main body
In the first week, the students were given directions to communicate with their peers and get to know their academic backgrounds. The international company strategy was also discussed in the first week. Due to the increase in foreign direct investment, the countries get an advantage in economic development (Dvorak & Razova, 2018). People are moving to the cities because of urbanisation. At present, due to the digitization of the economy, both business firms and individuals are getting the advantage.
I learned that strategic management is important for Qantas to expand its market in foreign countries and gain a competitive edge. Strategic management is a way of targeting goals and objectives to make the organisation more competitive (Raynes & Tsui, 2019). Hence, it gives overall direction to Qantas so that it can use the resources appropriately to provide efficient service to potential customers. There are five stages of strategic management which include setting targets, evaluating the market, strategy formation, implementing strategies and monitoring. These strategies are highly applicable to Qantas’s business.
I understand that PEST analysis is beneficial for expanding business activities in outbound countries (Cox, 2021). Qantas can use the PEST to analyse external business environments and assess strategic risk. Political stability is important for international businesses. The macroeconomic cycle is applicable to the business strategies of Qantas. It is necessary for the managers to learn the macroeconomic environment so that they can apply a strategic approach. Additionally, the CAGE framework is also important for analysing the culture, administration, geography and the economy of the nation (Zhavoronkova et al., 2021). On the other hand, Porter’s five forces are helpful for evaluating the internal competitive market of Qantas.
Paragraph 1: (Summarise you key learning from weeks 1& 2 here) e.g. what is strategy? Megatrends & the macro environment etc.
Paragraph: (Summarise you key learning from weeks 3 &4 here, for example industry and the firm’s internal environment. Refer to weeks 3& 4)
In the third week, I have learned about the industry life cycle which is essential for Qantas to study the external business environment. The industry life cycle evaluates four stages of the business cycle which include introduction, growth, maturity and decline stages. This cycle directly impacts the organisation’s strategic policies (Sijabat, 2019). It helps the organisations to evaluate the future trade and opportunities that will help Qantas to get a competitive advantage in the airline industry. The opportunities help the organisations to figure out the needs of the customers and provide service based on such needs of the customers. Fulfilling the demand of the customers, Qantas can reach out to the potential market and beat the competitors. The global scenario is changing over time. Therefore, analysing Yip’s globalisation factors is beneficial for competing with international competitors. As per Yip’s theory, there are four important factors that directly impact the global business scenario (Raynes & Tsui, 2019). Competitive market, cost drivers, market drivers and government drivers are the four crucial factors for Qantas to satisfy its international customers. Porter’s five forces are beneficial for better analysing the industry and taking a strategic approach. During entering a new market Qantas needs to focus on porter’s five forces.
I learned about the outside and inside of Qantas which helped me to understand the present position of Qantas. The term dynamic capability, I learned in the fourth week. It enables the organisation to adopt new strategies based on the changing condition of the business environment (Carnegie et al., 2018). Besides, Qantas has to consider both the price and performance to satisfy the stakeholders and gain a competitive advantage in the airline industry.
I learned the difference between the stakeholders and shareholders. The people who directly or indirectly assist the organisations are called stakeholders. On the other hand, shareholders are however the organisations that take important decisions for achieving organisational goals (Ab Yajid, Shukri & Khatibi, 2021). The shareholders are powerful in various countries such as the US and UK. Therefore the government also falls under the stakeholder. The shareholders have the authority to change the organisation’s policy and make attractive policies for increasing investment. Corporate social responsibility is also important for organisational development and improving the reputation of Qantas in the international market. Qantas has to make an employee friendly environment in the internal management to gain positive feedback from the employees. CSR strategy is also beneficial for protecting the environment by following the environmental laws (Heiets, Oleshko & Leshchinsky, 2021). It is also beneficial for gaining support from the government.
In 6 the Week I have learned about strategic options such as international operations, innovation and strategic choices. This week I learned the difference between responsibility and profitability. The organisation has to evaluate its profitability to identify its present position (Choudhary, 2019). It depicts that the organisation is gaining a maximum return. On the contrary, responsibility refers to the liability of the employees regarding their tasks.
Paragraph 3: (Summarise you key learning from weeks 5& 6 here, for example stakeholders analysis, and SWOT & TOWS. Refer to weeks 5& 6)
From the above discussion, it can be concluded that the learning each week helps Qantas to make strategic planning for market expansion in the new market. PEST analysis is beneficial for evaluating the political and social factors to meet the requirements of the customers and gain positive feedback. Strategic management is highly important for beating the competitors and gaining an advantage in the operation. Due to globalisation, international businesses are implementing new and updated strategies. Therefore, Porter’s five forces are beneficial for evaluating the internal market. The threat in the international market is quite high for Qantas. Therefore, keeping in mind the macroeconomic environment is beneficial for collecting information about the international market. Evaluating the globalisation factors is beneficial for identifying the key factors and taking strategic business policies. Qantas has to focus on stakeholder satisfaction to gain an advantage in the airline industry.
Conclusion
So what are your key takeaways from the module so far and suggest a brief action plan for how you plan to use your learning in future. Provide a short action plan in the appendix
Choudhary, N. (2019). Strategic analysis of cloud kitchen–A case study. Management Today. https://www.researchgate.net/profile/Saurabh-Pratap/publication/333367217_Strategic_analysis_of_the_Indian_agri-food_supply_chain/links/5d4bb04a92851cd046ab0e3c/Strategic-analysis-of-the-Indian-agri-food-supply-chain.pdf
Cox, J. (2021). The higher education environment driving academic library strategy: A political, economic, social and technological (PEST) analysis. The Journal of Academic Librarianship, 47(1), 102219. https://www.sciencedirect.com/science/article/pii/S0099133320301105
Dvorak, J. & Razova, I., (2018). Empirical validation of blue ocean strategy sustainability in an international environment. Foundations of Management, 10(1), pp.143-162.https://sciendo.com/it/article/10.2478/fman-2018-0012
Raynes, C. & Tsui, K.W.H., 2019. Review of Airline-within-Airline strategy: Case studies of the Singapore Airlines Group and Qantas Group. Case studies on transport policy, 7(1), pp.150-165.https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7148671/
Zhavoronkova, G.V., Zhavoronkov, V.O. & Volvach, N.N., 2018. Development of the market of aviation transportation in Ukraine: problems and prospects. Trans Motauto World, 3(3), pp.116-120.https://stumejournals.com/journals/tm/2018/3/116.full.pdf
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