My Role As a decision leader in the global marketplace
This paper aims at critically discussing the different roles played by decision leaders within the international markets and how those roles impact the success of the firms. Some of these roles of decision leaders include: Strategizing /planning To begin with, decision leaders in the global market have the responsibility of planning the new viable direction the firm will follow in the market in order to outshine their competitors. Other than advising the organization on the right directions to follow, they also determine the right marketing strategies to be used in the international markets, which are characterized by stiff competition and many dynamic changes which normally affect firms. They also plan on market penetration strategies that will benefit the firms and which have not been tapped into before.
The penetration strategies to be used have to help the company enter the market and record good sales. Advisory In the advisory role, firms heavily rely on the right decisions from the decision makers. Since all firms are affected by changes from both the internal and external environment, a close and keen attention is required in order to closely monitor the changes emanating from the environments and make the right decisions on how to cope with the changes especially the emerging trends from the external environment. Working in the international market, there a number of changes that are likely to emanate from the external environment affecting the firms of foreign investors, hence, the decisions made by companies in responding to those changes are greatly likely to make the business succeed or fail.
Communication Successful key decision leaders of firms play a major role in communicating decisions to the rest of companies’ staff, whether in the domestic or international market. For the success of any firm to be guaranteed, proper communication becomes one of the crucial prerequisites of the company. The information acquired from analyzing the above information’s help them in making decisions, which will help companies to grow and expand. They also monitor how the market share of their companies is growing or declining and come up with the best strategies to respond to that. From the sales in the international market, they monitor lifecycle of products and be able to make the right decision when the products get to the last stage or the market is already saturated with competitors.
Forecasting This is a key determinant in making decisions in which the leader ensures the decisions made contribute positively to the future company growth. The growth strategy of a firm in the international market can only be achieved by ensuring the decisions made are considering the forecasted inputs of the organization. Implement customer choices and preferences After receiving information from the clients in the international markets, it is crucial for decision-makers to act on the information received. If the business is to succeed in the global market customer, satisfaction must be guaranteed by business. The decision leader must always make those decisions, which will help meet the needs and demands of the client and let the firms act on them rather than make decisions that will earn the company profits ignoring customer loyalty and satisfaction.
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