University of Phoenix
STR
GM/581
July 19, 2010

Approaches to Global Strategy
Introduction
Arc welding machine manufacturing will be producing welding machines, and selling them to Canada. Their most popular machine is to consider the XM-350, because of the flexibilities of the machine. The machine can be set to perform gas tungsten arc welding (GTAW) or shield metal arc welding (SMAW).
Foreign Country and Domestic Country
United Kingdom (foreign) population was approximate 62.2 million in 2010 with an annual growth rate of 0.56 percent. The United Kingdom has the sixth largest economy in the world, which is the second largest economy in the European Union (Department of State, n.d.). The country primary religions consist of Church of England (Anglican), Church of Scotland (Presbyterian), Muslim, and Roman Catholic. The literacy rate is estimated to be around 99%, the workforce consist of 31.25 million with a breakdown of 80.4% services, 18.2% industry, 1.4% agriculture (Department of State, n.d.).
Canada (Domestic) is the second largest country in the world. The population was estimated to be around 33.7 million in 2009. The religious make of Canada consist of the following: Roman Catholic 43.6%, Protestant 29.2%, Christian 4.3%, Muslim 2.0%, Jewish 1.1, Buddhist 1.0, other 1.3 % and others 16.5% ( Department of State, n.d.). The predominant language spoken in Canada is English. The country Gross Domestic Product (GDP) in 2008 was $1.2 trillion, Canada export, and imports to the United States of American range from $264 billion to over $347 billion, which provide the country with economic stability.

Strategic Management Process
Strategic management “the set of decision and action that result in the formulation and implementation of plans designed to achieve company objectives” (Pearce & Robinson, 2009). The four major components of strategic management process are situation analysis, strategy formulation, strategy implementation, and evaluation. Arc welding machine manufacturing will ensure that strategic management is being utilized in their daily decision to achieve the company objectives.
Strategy formulation “refers to the process of choosing the most appropriate course of action for the realization of organizational goals and objectives and thereby achieving the organizational vision” (Power, 2011). During this process the company will go through several steps to ensure that the objective set are achievable: evaluating the organization environment, setting quantitative targets, performance analysis, and choice of strategy.
Strategy implementation in the phase the company will begin to implement the strategy that has been formulated to achieve their goals and vision. This is when the company will analyze its organizational structure to see if the currency structure will fit their intended strategy. Any company who wants to be successful in this phase will have in place devices such as monitoring and controls to check periodic to ensure that they are on the correct course.
The evaluation process can be significant to any strategy formulation, because this is where the company decides if their strategy is efficient and effective. By utilizing the evaluation process, the company can change direction if needed, as a result of their finding.
Domestic and International
The Domestic and International approach to strategic management will have some variations from country to country. Companies seem to be more familiar with the Domestic market that they operate in on a daily basis, opposed to the International market. Some of the challenges in a domestic market is the cost of manufacturing products, the cost of labor, and many laws that hinder a company success, such as taxes. The international market can also pose some of the same challenges for a company. Some considerations when dealing with an International market is the Country’s infrastructure that should be well enough to support the products that is being produced. Do the country have the talent you need to be successful, are will you need to transport personnel to the area.
Ethics and Social Responsibility
Ethics will have an impact on any company strategic management process, because if the company is unethical in the process of formulating and implementation a plan then they could suffer a loss of finance and customers. The social responsibility aspect of strategic management is a basic ideology that a organization has a responsibility to acted in way that benefit a society. Arc welding machine manufacturing company will participate in activity that is friendly to the environment and the society.
Summarize Strategic Management Process
Strategic management process can be a guide to any company, especially the business that chose to go international or global. By using this method a company can chart its course for the future with some certainly of success. This process is all a company need if applied correctly to adapt and change course if necessary.
Conclusion
In today’s competitive business atmosphere, companies who want to enjoy success and financial benefits will have to learn to embrace processes such as strategic management. Companies need to be familiar with situation analysis, strategy formulation, strategy implementation, and the evaluation process to remain successful in the 21st century. Into today’s international and global market, the companies who have a good vision for the future will stand a better chance of survival in the event that it is faced with some hardship.

Reference page
Mintzberg, H., Lampel, J., & Quinn, J. B. (2003). Strategy . : Prentice Hall.
Pearce, J. A., & Robinson, R. B. (2009). Strategy Formulation (11th ed.). : The Mcgraw Hill Companies.
(2011). United State Department of Commerce. Retrieved from http://www.commerce.gov/