Key elements of international strategy implementation

• Goal setting: The first step in international strategy implementation is to set clear goals for the internationalization effort. These goals should be specific, measurable, achievable, relevant, and time-bound.
• Resource allocation: Once the goals have been set, it is important to allocate resources appropriately to support the internationalization effort. This may involve investing in new products, marketing, or distribution channels.
• Organizational structure: The organizational structure should be designed to support the internationalization effort. This may involve creating a new international division or appointing a new CEO for the international business.
• Culture: The company’s culture should be supportive of internationalization. This may involve creating a culture of innovation and risk-taking.
• Communication: Effective communication is essential for successful international strategy implementation. This may involve creating a global communication network or training employees on cross-cultural communication.

Challenges of international strategy implementation

• Political risk: Political risk is the risk that a government will change its policies in a way that negatively affects a company’s operations. This can be a major challenge for companies that are operating in countries with unstable political environments.
• Economic risk: Economic risk is the risk that a country’s economy will decline in a way that negatively affects a company’s operations. This can be a major challenge for companies that are operating in countries with weak economies.
• Cultural risk: Cultural risk is the risk that a company will not be able to adapt to the culture of a foreign market. This can lead to problems with marketing, sales, and customer service.
• Legal risk: Legal risk is the risk that a company will violate the laws of a foreign market. This can lead to fines, penalties, or even imprisonment.

Cultural adaptation and localization strategies

• Cultural adaptation: Cultural adaptation is the process of adjusting a company’s products, marketing, and operations to the culture of a foreign market. This can involve making changes to the product design, packaging, or advertising. It can also involve changing the way that the company interacts with customers and employees.
• Localization: Localization is the process of tailoring a company’s products, marketing, and operations to the specific needs of a particular market. This can involve making changes to the product features, pricing, or distribution channels. It can also involve changing the way that the company communicates with customers and employees.

PUMA’s core values and strategy in India

PUMA is a German multinational company that designs and manufactures sportswear and accessories. The company has a strong focus on innovation and performance, and it is known for its stylish and high-quality products.