global business field. The reason behind such a bold strategy was the desire for a close-knit cooperation between the two key functions that would result in enhanced customer responsiveness. As the business environment becomes increasingly competitive both domestic and abroad, POSCO has made clear from this organizational change that evolving into a more customer-oriented firm is key to attaining
Acquisition of a 24.5% stake
Worth USD162mn/KRW 194.6bn
Starts production from 2014,
expected to secure 9.8mn tons
of ores per year
Iron ore self-supply ratio:
18% 34%
Holds a significant part in
POSCO’s strategy
Include both iron ore mine
development and infrastructure
POSCO look to obtain more
than 600mn tons of iron ore reserv
1. Introduction
The word BRICs first appeared in 2003 by Goldman Sachs. It is consisted of Brazil, Russia, India, and China. These four countries were and still are receiving big attention as emerging economies from 1990’s. They commonly have huge territory, population and abundant underground resources. Among them, Russia recently held big sporting events such as World Championship in
period is to introduce the free market system and to allow its economy to be operated by the market forces. In addition, China has been promoting foreign investments in China and international trade with other countries. As a result of innovative changes in its system, Chinese economy has rapidly grown over the past several decades, and it has become the most important issue in global business.
1. Global management and Strategic Management
Global management is consisted of two factors globalization and localization. Of which we focused on cultural differences of localization and related it with strategic management practices.
2. Purpose and reasons of studying the two case of Samsung-Tesco & Carrefour
We believed that foreign corporations had a more developed strategic management sys