Role of a “Global Strategy” on Long Term Success of Business: a Literature Review Based on Organizational Strategy

Abstract

In globalized scenario a well focused strategy plays an important role by shape up the organization through clear set of visionary objectives. Porter (1996) stated a company can outperform rivals only if can establish a difference that can preserve and deliver greater value to customers or create comparable value at lower cost or do both. Scholars identified the importance of management control systems consists three elements (Simon, 1991, Olson and Slater, 2002) and strategy- cultural fit also an important factor for success (Morgan and Vorhies, 2010) . Study based on comprehensive literature review and basically addresses to a main research objective as to a ?well focused Global strategy? that leads organizational success. Three propositions and then hypotheses developed based on global strategies from past literature as (1) Balanced scorecard on strategy execution leads an organization towards performance (2) Business performance has an impact on strategy formulation and cultural fit (3) Making competition irrelevant; Blue Ocean Strategy to way forward future business venture. Study concludes the importance of globalized strategy should emphasize focusing more on innovation and growth perspectives as well as keeping cultural fit with the strategy. Moreover, clear understanding the customer orientations and trends for new market segments through innovations are strongly recommended.