The global competitors will seek to standardise their offering everywhere
“The competitors across the globe will seek to standardise their offering everywhere”. On the basis of the relevant academic literature, critically evaluate with the view of specific references to the firm's international product, services, and strategies.
The topic for the review will be the Foundation of the scholarship and research.
Global competition referred to the services and goods which are offered by competitive organizations that supply global customers. It plays an essential role in catalysing private companies into large firms and leads to economic growth. Currently, global companies include standardization in foods, services, organizational infrastructure etc. which offers a global market for enhancing brand power. This report covers a critical evaluation of global competitors who seek standardization which can offer globally.
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Standardization strategies as means of gaining competitive advantage
Standardization is defined as the strategy when organization considers whole worlds as individual market along with fewer variations. Organization keeps imagination that a product or service can fulfil all requirements of customers everywhere (Srnicek, 2017). To treat whole world as single market organization adapts standardization strategy which helps them to introduce product or service which can meet customer’s objectives, either they live anywhere in the world. The main aim to adapt standardization strategy to gain competitive advantage in global market. Standardization strategies like Product strategy is one of the most effective strategy for the global companies. It reduces cost of the products and appreciates suppliers for lower prices. There is an example of company which adapts standardization strategy for gaining competitive advantage. KFC is an American fast food restaurant chain which is known as Kentucky Fried Chicken. It is headquartered in Louisville, Kentucky and comes in world's second largest restaurant chain after McDonald's. Mission of organization is to adapt standardization in product, infrastructure and services which can serve globally. It leads effective change in the customers mind about KFC because customers wants they get healthy food which improves their health rather than give negative impact on body. This product strategy puts pressure on the global rivals who possess same firm like KFC. To lead sustainability in product strategy organization improves taste of the food by adding flavour of eleven spices. To give values of each type of customers in the world. Global organizations include vast range of products or services. For instance KFC has its special crispy boneless chicken, soft bread, rice, mixed cabbage Jumbo etc. which are popular in various regions of the world. This approach helps organization to attract each type of customers in global market. Global competitors not only enhances product line but also focus on customers who concern for their health. To adapt product standardization strategy, global companies gets specification and enables to differentiate brand name from other global competitor brands.
As per the view...... to adapt standardization in the companies is beneficial for global organizations because it improves management and offers various opportunity to beat global competition and leads sustainability in the company. Various global companies are affiliated from lotteries which is well-known name in Korea. Lottery provides standardization i.e. brand, product along with symbol ‘L’ and 'O'. The main objective of the lottery is to maintain standard in cleanliness, hygiene and safety. Global companies applies in packaging because it is essential for packing of fast food. Packaging is element which improves product appearances and keep safe product prolong time or can say as preservative for the fat food (De Mooij, 2018). There is an example who uses lotteries for standardization for example KFC uses lotteries symbol for the packing material because lotteries is basically dependent on the recycling program. Company uses those packing material which possess environmental friendly nature and doesn't give negative impact on food, environment and human health. It is most effective strategy of the KFC which assist organization to serve their product