LARA MAE O. KIE
MARCH 14, 2022
BSA III-13
INTERNATIONAL BUSINESS AND TRADE
REINFORCEMENT MODULE 2
Activity/ Evaluation
Do some research and answer the following questions:
a. How is strategic management related to international business?
It is related to each other because strategic management is concerned with
organizational performance, your awareness of a company's SWOT (strengths,
weaknesses, opportunities, and threats) helps you better analyze how international
business considerations should be accounted for in the firm's strategy. To capitalize on
international trends, businesses must reevaluate their strategy and seek new strategies
to drive innovation and growth in foreign markets. Managers should avoid strategic
conservatism, which occurs when they just follow the established tools step by step
without gaining a broader knowledge of a topic.
b. Why is an understanding of strategic management important in the context of
international business?
It is essential to employ the most effective strategy through appropriate strategic
marketing when entering a new market. Companies must reconsider their strategies and
look for new instruments to drive innovation and growth in international markets.
c. How is entrepreneurship related to international business?
Entrepreneurial ventures boost productivity by introducing innovation to every
part of business and maximizing current resources in the most effective ways.
Entrepreneurs create new markets by offering new and improved products, services, and
technology that has the potential to expand globally.
d. Why is an understanding of entrepreneurship important in the context of
international business?
The significance of entrepreneurship comes from the fact that it contributes in the
identification and development of entrepreneurs' managerial capabilities. The
encouraging entrepreneurship has the potential to improve organizational performance
and help organizations achieve strategic goals in global business.