450 words

Global Strategy

Learning Objectives

In this chapter, you will

learn about:

> IKEA’s Global Strategy Furniture retailer IKEA is a Swedish company that has transformed itself into a global organization over the past three decades. Ingvar Kamprad founded the firm in Sweden in 1943 when he was 17 years old. IKEA originally sold pens, picture frames, jewelry, and nylon stockings—any product that Kamprad could sell at a low price. In 1950, IKEA began selling furniture and housewares. In the 1970s, the company began expanding into Europe and North America. IKEA’s philosophy is to offer quality, well-designed furnishings at low prices. The company designs “knock- down” furniture that the customer purchases and then assembles at home. Designs implement functional, utilitarian, and space-saving features, with a distinctive Scan- dinavian style.

IKEA Group sales for the fiscal year 2006 totaled 17.3 billion euros, mak- ing IKEA the largest furniture retailer in the world. Its stores, usually located in major cities, are mammoth, warehouse-style outlets, with each stocking approxi- mately 9,500 items, including everything for the home—from sofas to plants to kitchen utensils.

IKEA is now owned by a Dutch-registered foundation controlled by the Kam- prad family. Its corporate offices are in the Netherlands, Sweden, and Belgium.

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1. The role of strategy in international business

2. The integration-responsiveness framework

3. Distinct strategies emerging from the integration- responsiveness framework

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Product development, purchasing, and warehousing are concentrated in Sweden. Headquarters designs and develops IKEA’s global product line and branding, often in close collaboration with external suppliers. Approximately 30 percent of the mer- chandise is made in Asia, and two-thirds in Europe. A few items are sourced in North America to address the specific needs of that market, but 90 percent of IKEA’s product line is identical worldwide. Managers at IKEA stores feed market research back to headquarters in Sweden on sales and customer preferences.

IKEA targets people all over the world, with a focus on families with limited income and limited living space. This global segment is characterized by liberal- minded, well-educated, white-collar people—including college students—who care little about status and view foreign products positively. Targeting a global customer segment allows IKEA to offer standardized products at uniform prices, a strategy that minimizes the costs of international operations. IKEA seeks scale economies by consolidating worldwide design, purchasing, and manufacturing. It distinguishes itself from conventional furniture makers that serve fragmented markets. Its designers work closely with contract suppliers around the world to ensure savings, high vol- ume, and high standards.

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Each IKEA store follows a centrally devel- oped communications strategy. The catalogue is the most important marketing tool. In 2006, 175 million copies were printed in 27 lan- guages, representing the largest circulation of a free publication in the world. The catalogue, also available online (www.ikea.com), is pre- pared in Sweden to assure conformity to the IKEA look. The catalogue conforms to IKEA’s cosmopolitan style. Each product has a unique, proper name. For sofas, IKEA uses Scandina- vian rivers or cities (Henriksberg, Falkenberg), women’s names for fabric (Linne, Mimmi, Adel), and men’s names for wall units (Billy, Niklas, Ivar).

IKEA’s employees (“co-workers”) across the globe are widely acknowledged as the basis for the firm’s success. Corporate culture is infor- mal. There are few titles, no executive parking spaces, and no corporate dining room. Man- agers fly economy class and stay in inexpensive hotels. Regional organizations are minimized so that stores maintain direct contact with IKEA in Sweden. This speeds decision making and ensures that the IKEA culture is easily global- ized. Management in each store is required to speak either English or Swedish, to ensure effi- cient communications with headquarters.

IKEA organizes an “antibureaucratic week” each year in which managers wear sales clerks’ uniforms and do everything from operating cash registers to driving forklifts. By using this system, managers stay in touch with all of IKEA’s operations and remain close to suppliers, customers, and salespeople. The firm’s culture emphasizes consensus-based decision making and problem solving, and managers readily

share their knowledge and skills with co-work- ers. IKEA’s distinct culture helps employees and suppliers feel they are an important part of a global organization. This culture has a strong global appeal, supporting IKEA‘s continued growth.

How does a company like IKEA manage its operations across 35 countries, 240 stores, more than 100,000 employees, 20 franchises, and 2,000 suppliers? Part of the complexity comes from having to adapt to local regulations on labor laws, store operations, unique supplier relation- ships, and shopping preferences. Among other challenges, IKEA must figure out how to:

1. Ensure valuable customer feedback (for exam- ple, design preferences) from individual mar- kets reach decision makers at headquarters

2. Reward employees and motivate suppliers with expectations that vary from country to country

3. Achieve the real benefits of international operations—efficiency on a global scale and learning—while remaining responsive to local needs

4. Keep designs standardized across markets, yet be able to respond to local preferences and trends

5. Delegate adequate autonomy to local store managers while retaining central control <

Sources: Coppola, V. (2002). “Furniture as Fashion Wins Ikea.” Adweek, Feb. 25, pp. 12–13; Duff, M. (2003). “IKEA Eyes Aggres- sive Growth,” DSN Retailing Today Jan. 27, p. 23; www.businessweek.com, “Online Extra: IKEA’s Design for Growth,” June 6, 2005; www.businessweek.com, “IKEA: How the Swedish Retailer became a Global Cult Brand,” November 14, 2005; IKEA corporate web site at www.IKEA-group.IKEA.com; IKEA company profile at Hoovers, at www.hoovers.com

G lobalization has increased the speed, frequency, and magnitude by which firms from diverse industries can access international markets for cus- tomers. Managers are evolving their internationalization strategies to

transform their organizations into globally competitive enterprises. As the IKEA vignette shows, managers are striving to coordinate sourcing, manufacturing, marketing, and other value-adding activities on a worldwide basis. They seek to eliminate redundancy and adopt organization-wide standards and common processes. Some managers, like those at IKEA, try to nurture products that may gain the approval of a global clientele and become global brands. Nevertheless, organizing the firm on a global scale is very challenging. It requires strategic posi-

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Strategy in the international context A plan for the organization to position itself positively from its competitors and configure its value-adding activities on a global scale.

tioning, organizational capabilities, alignment of value-adding activities on a worldwide basis, a high degree of coordination and integration, attention to the needs of individual markets, and implementation of common processes.

In this chapter, we discuss the role of strategy and alternative structural arrangements in building a globally integrated enterprise. In the next chapter, we follow up with a discussion of how managers can go about identifying global market opportunities.

The Role of Strategy in International Business

Strategy is a plan of action that channels an organization’s resources so that it can effectively differentiate itself from competitors and accomplish unique and viable goals. Managers develop strategies based on their examination of the organiza- tion’s strengths and weaknesses relative to its competition and the opportunities it faces. Managers decide which customers to target, what product lines to offer, and with which firms to compete.

Strategy in the international context is a plan for the organization to position itself positively from its competitors and configure its value-adding activities on a global scale. It guides the firm toward chosen customers, markets, products, and services in the global marketplace, not necessarily in a particular international market.1 As a minimum, strategy in the international context should help man- agers to formulate a strong international vision, allocate scarce resources on a worldwide basis, participate in major markets, implement global partnerships, engage in competitive moves in response to global rivals, and configure value- adding activities on a global scale.2

What is the role of strategy in creating competitive advantage in international business? It has been argued that an effective international strategy begins with developing a standardized product that can be produced and sold the same way in multiple countries.3 Kenichi Ohmae4 argues that delivering value to customers worldwide is the overriding goal, while other observers stress achieving strategic flexibility.5 The idea of exploiting scale economies by building global volume and deriving synergies across the firm’s different activities is also relevant.6 Managers should also build a strong worldwide distribution system and use profits from successful products and markets to subsidize the development of other products and markets.7

The most widely accepted prescription for building sustainable, competitive advantage in international business is that of Bartlett and Ghoshal.8 They argue that managers should look to “develop, at one and the same time, global scale efficiency, multinational flexibility, and the ability to develop innovations and leverage knowledge on a worldwide basis.”9 They propose that the firm that aspires to become a globally competitive enterprise must seek simultaneously these three strategic objectives—efficiency, flexibility, and learning. Let’s review each objective.

Efficiency The firm must build efficient international supply chains. Efficiency refers to lowering the cost of the firm’s operations and activities on a global scale. Multi- national enterprises with multiple value chains around the world must pay special attention to how they organize their R&D, manufacturing, sourcing product, marketing, and customer service activities. For example, automotive companies such as Toyota strive to achieve scale economies by concentrating manufacturing and sourcing activities in a limited number of locations around the world. Flexibility The firm must develop worldwide flexibility to manage diverse country- specific risks and opportunities. The diversity and volatility of the international envi- ronment is a special challenge for managers. Therefore, the firm’s ability to tap

Strategy A plan of action that channels an organization’s resources so that it can effectively differentiate itself from competitors and accomplish unique and viable goals.

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local resources and exploit local opportunities is critical. For example, managers may opt for contractual relationships with independent suppliers and distributors in one country while engaging in direct investment in another. Or, the firm may adapt its marketing and human resource management practices to suit its unique country conditions (we discuss marketing and human resource management issues in chapters 17 and 18). Changing environmental circumstances, such as exchange rate fluctuations, may prompt managers to switch to local sourcing or to adjust prices. Learning The firm must create the ability to learn from international exposure and exploit learning on a worldwide basis. The diversity of the global environment pre- sents the internationalizing firm with unique learning opportunities. Even though the firm goes abroad to exploit its unique advantages, such as technology, brand name, or management capabilities, managers can add to the stock of capabilities by internalizing new knowledge gained from international exposure. Thus, the organization can acquire new technical and managerial know-how, new product ideas, improved R&D capabilities, partnering skills, and survival capabilities in unfamiliar environments. The firm’s partners or subsidiaries can capture and dis- seminate this learning throughout their corporate network. For example, it was Procter & Gamble’s research center in Brussels that developed a special capability in water-softening technology, primarily because European water contains more minerals than water in the United States. Similarly, the company learned to for- mulate a different kind of detergent in Japan, where customers wash their clothes in colder water than in the United States or Europe.

In the final analysis, international business success is largely determined by the degree to which the firm achieves its goals of efficiency, flexibility, and learn- ing. But it is often difficult to excel in all three areas simultaneously. Rather, one firm may excel at efficiency while another may excel at flexibility, and a third at learning. In the 1980s, for example, many Japanese MNEs achieved international success by developing highly efficient and centralized manufacturing systems. In Europe, numerous MNEs have succeeded by being locally responsive while some- times failing to achieve substantial economic efficiency or technological leader- ship. Many MNEs based in the United States have struggled to adapt their activi- ties to the cultural and political diversity of national environments, and instead have proven to be more skillful at achieving efficiency via scale economies.

Strategy in Multidomestic and Global Industries Companies in the food and beverage, consumer products, and clothing and fashion industries may often resort to a country-by-country approach to mar- keting to specific needs and tastes, laws, and regulations. Industries in which competition takes place on a country-by-country basis are known as mult- idomestic industries. In such industries, each country tends to have a unique set of competitors.

By contrast, industries such as aerospace, automobiles, telecommunica- tions, metals, computers, chemicals, and industrial equipment are examples of global industries, in which competition is on a regional or worldwide scale. Formulating and implementing strategy is more critical for global industries than multidomestic industries. Most global industries are characterized by the existence of a handful of major players that compete head-on in multiple mar- kets. For example, Kodak must contend with the same rivals—Japan’s Fuji and the European multinational, Agfa-Gevaert—wherever it does business around the world. Similarly, American Standard and Toto dominate the worldwide bathroom fixtures market. In the earthmoving equipment industry, Caterpillar and Komatsu compete head-on in all major world markets.

Multidomestic industry An industry in which competition takes place on a country-by- country basis.

Global industry An industry in which competition is on a regional or worldwide scale.

The Integration-Responsiveness Framework 317

Local responsiveness Meeting the specific needs of buyers in individual countries.

The Integration-Responsiveness Framework

Since efficiency and learning objectives are often related, they are frequently com- bined into a single dimension, called global integration. Global integration refers to the coordination of the firm’s value-chain activities across countries to achieve worldwide efficiency, synergy, and cross-fertilization in order to take maximum advantage of similarities between countries. The flexibility objective is also called local responsiveness. Local responsiveness refers to meeting the specific needs of buyers in individual countries.

The discussion about the pressures on the firm to achieve the dual objectives of global integration and local responsiveness has become known as the integration-responsiveness (IR) framework.10 The IR framework, shown in Exhibit 11.1, was developed to help managers better understand the trade-offs between global integration and local responsiveness.

In companies that are locally responsive, managers adjust the firm‘s prac- tices to suit distinctive conditions in each market. They adapt to customer needs, the competitive environment, and the local distribution structure. Thus, Wal-Mart store managers in Mexico adjust store hours, employee training, compensation, the merchandise mix, and promotional tools to suit conditions in Mexico. Firms in multidomestic industries such as food, retailing, and book publishing tend to be locally responsive because language and cultural differ- ences strongly influence buyer behavior in these industries

In contrast, global integration seeks economic efficiency on a worldwide scale, promoting learning and cross-fertilization within the global network and reducing redundancy. Headquarters personnel justify global integration by cit- ing converging demand patterns, spread of global brands, diffusion of uniform technology, availability of panregional media, and the need to monitor com- petitors on a global basis. Thus, designing numerous variations of the same basic product for individual markets will only add to overall costs and should be avoided. Firms in global industries such as aircraft manufacturing, credit cards, and pharmaceuticals are more likely to emphasize global integration.

Global integration Coordination of the firm’s value- chain activities across countries to achieve worldwide efficiency, synergy, and cross-fertilization in order to take maximum advantage of similarities between countries.

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The need to:

■ Seek cost reduction through scale economies

■ Capitalize on converging consumer trends and universal needs

■ Provide uniform service to global customers

■ Conduct global sourcing

■ Monitor and respond to global competitors

■ Take advantage of media with cross-national reach

The need to:

■ Leverage national endowments such as local talent

■ Cater to local customer needs

■ Accommodate differences in distribution channels

■ Respond to local competition

■ Adjust to cultural differences

■ Meet host government requirements and regulations

Pressures for local responsivenessWeak Strong

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Exhibit 11.1 Integration-Responsiveness Framework: Competing Pressures on the Internationalizing Firm

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Pressures for Local Responsiveness There are various factors that compel the firm to become locally responsive in the countries where it conducts business.11 These factors are:

• Unique natural endowments available to the firm. Each country has national endowments that the foreign firm should access.

• Diversity of local customer needs. Businesses, such as clothing and food, require significant adaptation to local customer needs.

• Differences in distribution channels. These vary considerably from market to market and may increase the need for local responsiveness. For example, small retailers in Japan understand local customs and needs, so locally responsive MNEs use them to distribute products in that country.

• Local competition. When competing against numerous local rivals, cen- trally controlled MNEs will have difficulty gaining market share with global products that are not adapted to local needs.

• Cultural differences. Cultural characteristics influence consumer buying decisions. The influence of cultural differences may vary considerably, depending on the type of product. For those products where cultural dif- ferences are important, such as clothing and furniture, local managers require considerable freedom from headquarters to adapt their product and marketing practices.

• Host government requirements and regulations. When governments impose trade barriers or complex business regulations, they can halt or reverse the competitive threat of foreign firms. The MNE may establish a local subsidiary with substantial decision-making authority to minimize the effects of protectionism.

Pressures for Global Integration Another set of factors compels the firm to coordinate its activities across countries in an attempt to build efficient operations.12 These are:

• Economies of scale. Concentrating manufacturing in a few select loca- tions where the firm can profit from economies of mass production motivates global integration. Also, the smaller the number of manu- facturing and R&D locations, the easier it is for the firm to control quality and cost.

• Capitalize on converging consumer trends and universal needs. Standardization is appropriate for products with widespread acceptance and whose fea- tures, quality, and cost are similar worldwide. Examples include computer chips and electronic components. Companies such as Nike, Dell, ING, and Coca-Cola offer products that appeal to consumers everywhere.

• Uniform service to global customers. Services are easiest to standardize when firms can centralize their creation and delivery. Multinational enterprises with operations in numerous countries particularly value service inputs that are consistent worldwide.

• Global sourcing of raw materials, components, energy, and labor. Firms face an ongoing pressure to procure high-quality input goods in a cost-efficient manner. Sourcing of inputs from large-scale, centralized suppliers pro- vides benefits from economies of scale and more consistent performance outcomes. Sourcing from a few well-integrated suppliers is more efficient than sourcing from numerous loosely connected distributors.

• Global competitors. Competitors that operate in multiple markets threaten firms with purely domestic operations. Global coordination is

necessary to monitor and respond to competitive threats in foreign and domestic markets.

• Availability of media that reaches consumers in multiple markets. The avail- ability of cost-effective communications and promotion makes it possi- ble for firms to cater to global market segments that cross different countries. For example, firms now take advantage of the Internet and cross-national television to simultaneously advertise their offerings in numerous countries.

Distinct Strategies Emerging from the Integration-Responsiveness Framework

The integration-responsiveness framework presents four distinct strategies for internationalizing firms. Exhibit 11.2 illustrates these strategies. Internationalizing firms pursue one or a combination of four major types of strategies. In general, multidomestic industries favor home replication and multidomestic strategies, while global industries favor global and transnational strategies.

With a home replication strategy (sometimes called export strategy or interna- tional strategy), the firm views international business as separate from, and sec- ondary to, its domestic business. Early in its internationalization process, such a firm may view international business as an opportunity to generate incremental sales for domestic product lines. Typically, products are designed with domestic customers in mind, and international business is sought as a way of extending the product life cycle and replicating its home-market success. The firm expects little knowledge flows from foreign operations.13

A second approach is multidomestic strategy (sometimes called multilocal strategy), whereby an internationalizing firm delegates considerable autonomy to each country manager, allowing him or her to operate independently and pursue local responsiveness. With this strategy, managers recognize and emphasize dif- ferences between national markets. As a result, the internationalizing firm allows

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Home replication strategy An approach in which the firm views international business as separate from and secondary to its domestic business.

Multidomestic strategy An approach to firm internationalization where headquarters delegates considerable autonomy to each country manager, allowing him or her to operate independently and pursue local responsiveness.

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Global strategy

More likely in global industries

Transnational strategy

More likely in global industries

Home replication strategy

More likely in multidomestic industries

Weak Strong

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Multidomestic strategy

More likely in multidomestic industries

Pressures for local responsiveness

Exhibit 11.2 Four Distinct Strategies Emerging from the Integration- Responsiveness Framework

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subsidiaries to vary product and management practices by country. Country man- agers tend to be highly independent entrepreneurs, often nationals of the host country.14 They function independently and have little incentive to share knowl- edge and experience with managers in other countries. Products and services are carefully adapted to suit the unique needs of each country.

Firms that pursue a multidomestic strategy relinquish considerable autonomy to foreign subsidiaries and exercise little central control. The multidomestic approach has several advantages. If the foreign subsidiary includes a factory, locally produced goods and products can be better adapted to local markets. The approach places minimal pressure on headquarters staff because management of country operations is delegated to individual managers in each country. Firms with limited internationalization experience often find multidomestic strategy an easy option, as they can delegate many tasks to their country managers (or foreign distributors, franchisees, or licensees, where they are used).

Nevertheless, multidomestic strategy has some disadvantages. The firm’s for- eign subsidiary managers tend to develop strategic vision, culture, and processes that differ substantially from those of headquarters. They have little incentive to share knowledge and experience with managers in the firm’s other country mar- kets, which leads to duplication of activities and reduced economies of scale. Lim- ited information sharing also reduces the possibility of developing a knowledge- based competitive advantage.15 Competition may escalate between the subsidiaries for the firm’s resources because subsidiary managers do not share a common corpo- rate vision. While a multidomestic strategy results in firms having a highly respon- sive presence in different national markets, it leads to inefficient manufacturing, redundant operations, a proliferation of products designed to meet local needs, and generally higher cost of international operations than other strategies.16

These disadvantages may eventually lead management to abandon multidomestic strategy in favor of a third approach—global strategy. With this strategy, headquarters seeks substantial control over its country operations in an effort to minimize redun- dancy and achieve maximum efficiency, learning, and integration worldwide. In the extreme case, global strategy asks why not make “the same thing, the same way, every- where?”17 In this way, global strategy emphasizes greater central coordination and con- trol than multidomestic strategy, with various product or business managers having worldwide responsibility. Activities such as R&D and manufacturing are centralized at headquarters, and management tends to view the world as one large marketplace.

Global strategy offers many advantages: It provides management with a greater capability to respond to worldwide opportunities, increases opportunities for cross-national learning and cross-fertilization of the firm’s knowledge base among all the subsidiaries, and creates economies of scale, which results in lower operational costs. Global strategy can also improve the quality of products and processes—primarily by simplifying manufacturing and other processes. High- quality products promote global brand recognition and give rise to consumer preference and efficient international marketing programs.

The ability of firms to pursue global strategy has been facilitated by many fac- tors, including the converging needs and tastes of consumers around the world, the growing acceptance of global brands, the increasing diffusion of uniform tech- nology (especially in industrial markets), the integrating effects of the Internet and e-commerce, the integration of markets through economic blocs and financial globalization, and the spread of international collaborative ventures.

As in other approaches, global strategy has its limitations. It is challenging for management to closely coordinate the activities of a large number of widely dispersed international operations. The firm must maintain an ongoing com- munication between headquarters and its subsidiaries, as well as between the subsidiaries. When carried to an extreme, global strategy results in a loss of responsiveness and flexibility in local markets. Local managers who are stripped

Global strategy An approach where headquarters seeks substantial control over its country operations in an effort to minimize redundancy and achieve maximum efficiency, learning, and integration worldwide.

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of autonomy over their country operations may become demoralized and lose their entrepreneurial spirit.

A final alternative is transnational strategy, a coordinated approach to interna- tionalization in which the firm strives to be more responsive to local needs while retaining sufficient central control of operations to ensure efficiency and learning. Transnational strategy combines the major advantages of multidomestic and global strategies while minimizing their disadvantages.18 Transnational strategy implies a flexible approach: standardize where feasible; adapt where appropriate. In practice, man- agers implement transnational strategy by:

• Exploiting scale economies by sourcing from a reduced set of global sup- pliers and concentrating the production of offerings in relatively few loca- tions where competitive advantage can be maximized

• Organizing production, marketing, and other value-chain activities on a global scale

• Optimizing local responsiveness and flexibility

• Facilitating global learning and knowledge transfer • Coordinating competitive moves— that is, how the firm deals with its com-

petitors, on a global, integrated basis19

Transnational strategy requires planning, resource allocation, and uniform policies on a global basis. Firms standardize products as much as possible while adapting them as needed to ensure ample sales in individual markets. For exam- ple, in IKEA’s case, some 90 percent of its product line is identical across more than two dozen countries. IKEA’s overall marketing plan is centrally developed at company headquarters in Europe in response to convergence of product expecta- tions. Nevertheless, the plan is implemented with local adjustments. The firm also modifies some of its furniture offerings to suit tastes in individual countries. IKEA decentralizes some of its decision making, such as the language to use in advertis- ing, to local stores.

The British bank Standard Chartered, Procter & Gamble (P&G), Dow Chemical, and software maker Oracle are all striving for a transnational strategy. Dow Chemi- cal created global business divisions to take charge of investment and market devel- opment. But Dow also relies on local managers to deal with regulatory issues, which can be complex in emerging markets. Procter & Gamble cut the country manager’s role and handed all strategic questions about brands back to headquarters. Procter & Gamble’s new model differentiates between high- and low-income countries. In high-income countries, major decisions are made at headquarters. In low-income countries, some decision making is delegated to the regional level. Local managers in these countries require more autonomy to deal effectively with difficult local issues such as sourcing and marketing.

Given the difficulty of maintaining a delicate balance between central control and local respon- siveness, most firms find it difficult to implement transnational strategy. In the long run, almost all firms find that they need to include some ele- ments of localized decision making as well, because each country has its idiosyncratic charac- teristics. For instance, few people in Japan want to buy a computer that has an English-language keyboard. Thus, while Dell can apply a mostly global strategy to Japan, it must incorporate some multidomestic elements as well. Even Coca-Cola,

Transnational strategy A coordinated approach to internationalization in which the firm strives to be more responsive to local needs while retaining sufficient central control of operations to ensure efficiency and learning.

This IKEA Home Furnishings store opened in Shanghai, China in April, 2003. Consistent with a global strategy, IKEA standardizes its products as much as possible.

often touted as a global brand, varies its ingredients slightly in different markets. While consumers in the United States prefer a sweeter Coca-Cola, the Chinese want less sugar.20

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