Excutive summary-Global Strategic Management Essay

Excutive summary-Global Strategic Management - Essay Example The article highlights the major proponents of change and gives critical insight into the innovative approach that enables the businesses to compete against their rivals. The article succinctly argues that in the contemporary environment of globalization and recessive economy, the businesses need to evolve strategies that cater to the masses and meet the changing need of the people. The article also emphasizes that cost innovative strategies have become essential for businesses to maintain competitive advantage. The various means the businesses can effectively survive and maintain market position is moving away from premium products and make efforts for mass production of goods and services that are customised to the changing demands of current cash strapped customers. People want more value from the competitively priced goods. Another cost effective way the businesses are adopting is shifting their manufacturing and R&D facilities to the emerging new economies where the production and research cost is considerably low. The article also proposes that the emerging markets are crucial in the era of globalization and can be defined as the new area with high income and where the demand for the product can be created with relative success. Thus, the businesses must expand their operations in developing economies like India and China and exploit the market conditions. Last but not the least important are the innovative marketing techniques that need to be adopted to reach the masses. Hence the authors have suggested communication through alternative channels like posters, carry bags, luggage carts etc where the companies can put their name. These are low cost advertising channels and eminently suitable for the current recessive trend. I agree with the authors concern for adopting creative approach to sustain business in difficult time. While many big corporations and multinationals have found it hard to survive in the