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Intensify Business Performances of Multinationals: An Introduction to Five Strategic Elements within Performance Management

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  • Daniel Feyerlein

Abstract

The unknown future of global change, the increasing influence of growing and altered market conditions – these critical issues require companies around the globe that operate internationally to progressively adapt and optimize their strategies. In particular, regarding future competition conditions, strengthening competitiveness is gaining more importance. Companies are being challenged to define their business models and strategies in accordance with global requirements in order to compete successfully.Particularly in times of inconsistency, suggestions for performance improvement can provide valuable impulses. This article highlights current aspects within international business and considers future market conditions with a focus on strategic management and raising competitiveness.Performance management, the core element of business models, suggests five strategic elements that show promising potential for improving the performance of multinationals- beneficial proposals, commercial excellence, leadership aspiration, gaining competitiveness and ecological sustainability. With a focus on strategizing, performance management aims at generating continuous improvement of the organization’s competitive situation internationally while factoring in global change. This article focuses on manufacturing companies that pursue long term growth targets in international business and that has to deal with permanently growing competition at an international level.

Suggested Citation

  • Daniel Feyerlein, 2017. "Intensify Business Performances of Multinationals: An Introduction to Five Strategic Elements within Performance Management," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(5), pages 1-17, April.
    • Handle: RePEc:ibn:ijbmjn:v:12:y:2017:i:5:p:17
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    References listed on IDEAS

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    1. C. K. Prahalad & Gary Hamel, 1994. "Strategy as a field of study: Why search for a new paradigm?," Strategic Management Journal, Wiley Blackwell, vol. 15(S2), pages 5-16, June.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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