Making Sense of Kuwait Oil Company Samples †MyAssignmenthelp.com

Question: Discuss about the Making Sense of Kuwait Oil Company. Answer: A company which is operating on a very large scale has to overcome various challenges which a dynamic environment brings in for it. Meanwhile, the company deals with other companies which are operating in the same business in order to be at a different status in the sector. A firm has to look after various strategies to deal with the competitive world situation where there are too many complexities as well as changes going on. In order to process these documented procedures, organization have to follow a step by step analysis. As Kuwait Oil Company is one of the largest multinational corporations which are operating worldwide so it also has to look after its international policies to maintain the degree of its working culture across the globe (Burul, 2018). There are several options to each and every problem in the market but choosing the best one is a major task which involves analyzing and a high rate of intellectuality (West, Ford and Ibrahim, 2015). Eventually, a company comes up with some mandatory data which has to be processed. Likewise, Kuwait Oil Company can have various factors to have the best competitive strategy for itself. Further moving on to the factors which have to be taken care while making a strategy that will aid in protecting the domestic companies and will also attract the multinational corporations from various countries across the globe. The choice for the national competitive advantage which brings out advantage from both the sides is a very major decision to be taken. As it is defined there are four factors which have to be taken care of while making the most suitable national competitive strategy (Lpez-Navarro, Tortosa-Edo, and Castn-Broto, 2018). This will help the nation to build a command over more and more foreign investments and shortening the risk of explosion in demand for domestic products. Hence, it has to look forward various matters which are a camouflage for a nation to surround and protect in-house trading associations inside the boundaries. Such factors which are to be considered are factor condition, demand condition, related supporting industries and the strategy structure of a firm and its rivalry (Porter, 1990). These are some major phenomena which an organization has to look upon while making the best possible strategy for itself in order to conserve itself and also to attract various another degree of business which the economy requires and can grow with it. These are the four major essentials which have to be analyzed and worked upon before getting on to a conclusion for developing an environment which renders both businesses and protection of domestic industries. First, Factor conditions, a company before starting the business in other nation preferably look after the condition of factors which are very essential for it as the work will be totally dependent on them (Daz, Cinthya, and Zrate, 2017). It is just like looking up whether there is an availability of resources fully which is required for operations or not. For instance- labor, resources, fixed assets, financial resources etc. a proper analysis for it has to be done. Also, a comparison with the home country has been done so as to ascertain the difference. There are many countries where a company's set up there manufacturing unit because the factor cost is very low. By this way, the biggest countries are attracted towards the home country. This is a way of attracting MNCs but the drawback is that domestic country will face a problem of resources as they will be shared (Barbosa and Cockton, 2018). But instead of exporting those goods the legal bodies can import duties on establishing th e business in the same country as well. Second, Demand conditions, any kind of import from a foreign country involves demand of people from a nation. So a company must ascertain demand for its product in a particular country where it is thinking to do business. Hence, if the demand is really high for the product in the market than a company must set up its business in that nation for avoiding the expenses incurred in transportation and carriage (Silva, 2017). Also, the government of the country must use it as an advantage of bringing in the business rather than importing by trying to produce the same product in the economy with the help of domestic industries. For example- schemes can be launched to produce in the country which will help to retain and enhance the domestic business as well as resources (Moon et al., 2015). In some cases, there are impossibilities of copying the same products and inability to produce some foreign products which may lead to the entrance of multinational company. Third, Related supporting industries, this defines the sources like generating business for the domestic countries where a nation try to bring out people who can use the resources and produce it within a country and the chances of import become less. The companies which are capable of competing internationally must be given full support (Pinto, 2015) by the nation which automatically will lead in a generation of business and conservation of business to develop the economy. Fourth, Strategic structure and rivalry, a company must have a very strong strategic structure where it makes strategies to deal with any type of situation in a market which may occur. Every company operates in a dynamic environment so it has to make its policies in according to that by forecasting certain measures in order to deal with hindrances which may arise. There is certain competitive structure everywhere a firm operates which has to be dealt (Lpez-Navarro, 2018). Strategies according to it also have to be made so as to have an edge over the market where there is a piracy for each and everything. This factor is important for sustainable growth for a company in order to have long-term operations in a market (Laszlo and Zhexembayeva, 2017). The market is nor certain so this might not work for every firm but to be on a safer side it is necessary to be adopted. Hence, these are four major factors which have to be taken care in order to attract business from a nation and also to have an edge over the domestic business for the development of an international competitive strategy to be a smart player in the market amongst countries A capacity of firms in a nation can be raised only when the economy is doing well also the availability of resources is a must (Daz, 2017). While going through economies there are various factors which are to be considered in order to have an edge over the competition (Wagner III and Hollenbeck, 2014). Hence, to create employment for the people of the country the legal bodies may adopt various strategies to ensure proper employment for each and every being which is present in the nation. First, a creation of SME's, it is a most important and very vulnerable source of generating more and more employment among people. This includes engaging the population in their own business. Also, the people who are very much associated with doing their own business must be encouraged so as to have their own legal entity in terms of business. This is just like raising small-scale business to generate employment (West, Ford and Ibrahim, 2015). Second, wage system, hourly wage system which a country can implement as a policy in order to have equal opportunity for each and every human being by regulating hours a person is allowed to work under a company this will help in the management of unemployment. Third, Improvement of competitiveness among the industries by raising CSR activities, this will help in generating the employment for the people who are physically disabled and also in the word of contribution to an economy the companies will perform well. This eventually will raise the competitiveness of the firms in a nation (Barbosa, 2018). Similarly, there are a lot of other benefits of it when a rule becomes legal it is mandatory for all to implement it which will raise the employment and decrease unemployment. Fourth, targeting the young potential generation of the society and deploying them in such a way that it occurs benefit for both the country and also for the individuals which is working through it (Madsen and Walker, 2015). The youth must be targeted and encouraged to work for the nation and many such part-time jobs for them should be raised in order to make them responsible for the future of the nation. These are the major strategies which a nation with a sound economy must use in order to manage the people who are working and who are not working. Entrepreneurship is also one major rising field which is growing and government of several countries is boosting it as an amplifier to create employment for the people of the nation who wants to do something of their own (Suri, 2016). Everything starts with a small business eventually the efforts make it very large and sometimes global. Conclusion It has been concluded by the above report that it is very necessary for each and every country to plan its economic structure for having growth and development of the country. References Barbosa, S. and Cockton, G., 2018. Designing strategies, futures, and participation.Interactions.25(2). pp.5-5. Burial, Y. and Eslen-Ziya, H., 2018. Understanding New Turkey'Through Women's Eyes: Gender Politics in Turkish Daytime Talk Shows. Middle East Critique, pp.1-14. Daz, P.A., y Cinthya, S.Q.R. and Zrate, A.M., 2017, October. Performance factors of university-industry R+ D+ I cooperations: Determinants of an open innovation organizational strategy. Inde Innovacion y Tendencias en Ingenieria (CONIITI), 2017 Congreso Internacional(pp. 1-6). IEEE. Laszlo, C. and Zhexembayeva, N., 2017. Embedded sustainability: The next big competitive advantage. Routledge. 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