Responding to the challenges of global markets: Change, complexity, competition and conscience

In developing global marketing strategy to compete in world markets, managers must address the challenges of constant change, increased complexity and intense competition, while, at the same time, responding to calls of conscience. However, the appropriate response to these challenges depends on the stage of involvement in international markets, i.e., whether the firm is just entering international markets, is aggressively expanding its international presence or attempting to rationalize far-flung operations. The paper suggests how a firm should respond to these challenges, and shows how using different tools such as information systems technology, creating new organizational forms providing administrative and organizational flexibility, and effective resource deployment at various stages of the value chain can help a firm to cope with them.