International Business Strategy Essay Example | Topics and Well Written Essays - 2000 words - 5

International Business Strategy - Essay Example International firms do their business utilizing these three strategies and depends on their choice, their success come out. Samsung and Nokia, two internationally renowned mobile phone manufacturing giants, has been credited as long time competitors. The change in technology in mobile phones to smartphones and touchscreens from normal keypad based phones and the firmware updates came with it have emerged as the key issues to be addressed while doing the business. In UK, Samsung entered to capture the market that was dominated by Apple and Nokia. While most of the industrial strategist viewed Samsung’s decision to invade the UK market as a next to impossible venture, the Korean strategists thought it in different way. In the end, it is found that, Samsung has become the market leader and Nokia’s marketing strategy has failed miserably. This paper is concerned with discussing the international business strategies taken by Samsung and Nokia in UK in the context of the industry based, resource based and institution based view of international business strategy. This is also known as Industrial Organization thinking of strategic approaches where it is assumed that internationalization of a firm depends on the degree of competitive rivalry existing in its operating environment. Nokia, once termed as the undisputed king of the mobile handset market, has followed the resource based strategy during their ‘going global’ process. The Finland based mobile handset manufacturing giant has realized that in order to prevent the dipping sales figure, technological up gradation up to the standard of modern day business is needed. Nokia believed that firm’s own resource and capabilities are enough to build core competencies and due to strong brand image of Nokia, their position in the market place will be secured automatically. But it is found that the Symbian OS Nokia’s phones are out dated in