6 Strategies for Success Essay

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6 strategies for success
The article suggests that Multi-national Enterprises (MNEs) if they want to compete with local firms should borrow a page or more from the local companies’ playbook. There are six strands founded and proved to be significant for MNEs competing in developing nations. One, MNEs should customize their own products or services. As local companies are not constrained by existing products or even by preconceived philosophies about consumer needs however, they customize their products and success to meet different consumer requirements. Locals develop offerings that tailored to frequent niches in the market and learn to create a large variety of products or services in a cost effective way. For instance, CavinKare’s single-use plastic sachets promote a convenient way of use and store. Moreover, the packaging size of shampoo –on sachets- made it affordable for Indian customers who does not earn enough money and can’t afford to purchase the big bottle. Two, locals develop business models to overcome key obstacles, they doing so to overcome barriers and gain a competitive advantages. Grupo Elektra for instance, offers a financing helps in Mexico and its effectively selling products on instalment plans. Three, home-grown champions deploy the latest technologies. New technologies enable the delivery of products and services that meet the expectation of consumers making them satisfied with the high quality offering. Four, local winners take advantages of low cost labour. Many local companies do not rely on automations. As it is difficult to find and retain skilled labour in developing countries. Five, Many homegrown champions go after scale economies. Thus, they go nationwide

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