International Business & Strategic Foresight

Where business meets the global economic, political and social environment.

YOUR CAREER IN THIS PATHWAY​

Careers in this pathway are diverse, but share a common focus on the “macro” aspects of doing business. 

The global economy and an increasingly interconnected world introduce many uncertainties and dynamics into business management, strategy and decision-making. If global market trends, economics, policy and regulation, and business foresight sound exciting, then you might consider this career pathway for your next steps. 

In partnership with IE’s School of Global & Public Affairs and Law School, we track opportunities for business graduates interested in the intersection where business meets the economic and non-economic environment. Our mission is to help you make a good choice about whether this pathway might be a good fit with your aspirations, strength and goals. Explore the major career areas we’ve identified for you in this pathway and their transversal applicability.

Strategic Foresight & Global Analysis

Professionals in this area provide the key input for strategic decisions of the international firm – such as direct investment, supply chain policies, market positioning, and risk management. The ability to translate “big picture” changes into actionable strategies often leads to roles in management consultancies or as in-company advisors to senior management.

Business in Emerging Markets

Professionals specialized in Emerging Markets (EM´s) typically combine analytics and business acumen with a degree of cultural and political sensitivity. A higher degree of volatility and uncertainty will often characterize EM´s, but business opportunities are often equally outsized. Key analytical, operational and advisory roles can be found in medium-to-large sized multinationals, in management consultancies, and in international financial companies.

Business for International Development

Whether private or public, for-profit or nonprofit, a general business skillset is essential for the successful implementation in all areas of this field. This involves knowledge of project management, financial planning, and ensuring consistency with contracts, budgets and with the legislative framework. A common thread of successful players in this field is their ability to build relationships with and between stakeholders.

Market penetration

 refers to the degree to which a product or service is being used by target customers compared to the total estimated market for that product or service. It also relates to the number of potential customers who have purchased a specific company’s product instead of a competitor’s product.  

There are several strategies that businesses can use to increase their market penetration, including:

• Lowering prices: This can make the product or service more affordable to a wider range of customers.  
• Increasing advertising and promotion: This can help to raise awareness of the product or service and encourage more people to try it.  
• Expanding distribution channels: This can make the product or service more accessible to customers.  
• Offering new products or services: This can attract new customers and encourage existing customers to buy more.  
• Acquiring competitors: This can give the company a larger market share and more resources to invest in marketing and growth.  

The effectiveness of these strategies will vary depending on the specific product or service, the target market, and the competitive landscape. However, by carefully considering these factors, businesses can develop and implement effective market penetration strategies that will help them to achieve their growth objectives.

Market development

It is a growth strategy that involves introducing existing products or services to new markets. It’s about expanding your customer base beyond your current reach. This strategy can help businesses increase sales, revenue, and market share.  

Key Types of Market Development

1. Geographic Expansion:
   • Domestic Expansion: Targeting new regions or cities within your country.  
   • International Expansion: Entering new countries or markets globally.  
2. Customer Segmentation:
   • Identifying New Segments: Discovering untapped customer groups within your existing market.  
   • Targeting Niche Markets: Focusing on specific, specialized customer segments.  
3. Distribution Channel Expansion:
   • New Channels: Utilizing additional distribution channels like online sales, partnerships, or direct-to-consumer models.
   • Enhanced Distribution: Improving the efficiency and reach of your existing distribution channels.
4. Product Positioning:
   • Repositioning: Changing the perception of your product or service in the market.  
   • Brand Extension: Introducing new product lines or variations under your existing brand.  

Successful Market Development Strategies

To implement a successful market development strategy, businesses should consider the following:

• Market Research: Conduct thorough research to understand the target market’s needs, preferences, and buying behaviors.  
• Competitive Analysis: Assess the competitive landscape to identify opportunities and threats.  
• Marketing and Promotion: Develop effective marketing campaigns to create awareness and generate demand.  
• Sales and Distribution: Establish strong sales and distribution channels to reach the target market.
• Customer Acquisition and Retention: Implement strategies to attract new customers and retain existing ones.
• Adaptability and Innovation: Be prepared to adapt to changing market conditions and embrace innovation.

By carefully planning and executing market development strategies, businesses can achieve sustainable growth and long-term success.

Product development

is the process of creating and launching new products or improving existing ones to meet customer needs and achieve business objectives. It involves a series of stages, from ideation to market launch, and requires collaboration between various teams, including product management, engineering, design, marketing, and sales.  

Kinds of Product Development

There are several types of product development, each with its own specific focus and goals:  

1. New Product Development (NPD):
   • Involves creating entirely new products.  
   • Requires significant research, development, and testing.  
   • Examples: Tesla’s electric cars, Apple’s iPhone, or a new pharmaceutical drug.
2. Product Improvement:
   • Focuses on enhancing existing products to improve their performance, features, or quality.  
   • Can involve minor tweaks or major overhauls.  
   • Examples: Software updates, new car models with improved fuel efficiency, or a revamped website design.
3. Product Line Extension:
   • Introduces new products within an existing product category.  
   • Can involve different flavors, sizes, or packaging options.  
   • Examples: A new flavor of ice cream, a larger version of a smartphone, or a different color of a car.  
4. Product Repositioning:
   • Changes the target market or perception of an existing product.  
   • Can involve rebranding, repackaging, or targeted marketing campaigns.  
   • Examples: Marketing a luxury watch as a status symbol, or repositioning a diet soda as a healthier option.

Key Stages in the Product Development Process

1. Idea Generation: Identifying potential product ideas through market research, customer feedback, or internal brainstorming.  
2. Concept Development: Refining the idea into a detailed concept, including features, benefits, and target market.  
3. Design and Development: Creating prototypes or minimum viable products (MVPs) to test and refine the product.  
4. Testing and Validation: Conducting market research and user testing to assess the product’s viability and gather feedback.  
5. Production and Launch: Scaling up production, establishing distribution channels, and launching the product to the market.  
6. Post-Launch Evaluation: Monitoring the product’s performance, gathering customer feedback, and making adjustments as needed.  

By effectively managing these stages, businesses can develop successful products that meet customer needs and drive growth.

Diversification

 is a business strategy where a company expands its operations into new markets or industries.  This helps reduce risk by spreading it across multiple ventures.  

Here are the main types of diversification:

1. Related Diversification (Concentric Diversification):
   • Expanding into related products or services.  
   • Leveraging existing core competencies and brand reputation.  
   • Example: A car manufacturer diversifying into trucks and SUVs.
2. Unrelated Diversification (Conglomerate Diversification):
   • Expanding into unrelated industries.  
   • Aiming to reduce risk by spreading investments across different sectors.  
   • Example: A tech company acquiring a hotel chain.
3. Horizontal Diversification:
   • Expanding into new products or services that complement existing offerings.  
   • Targeting new customer segments or markets.  
   • Example: A clothing retailer adding a new line of accessories.  
4. Vertical Diversification:
   • Expanding into different stages of the supply chain.  
   • Can involve backward integration (acquiring suppliers) or forward integration (acquiring distributors).  
   • Example: A car manufacturer acquiring a tire manufacturer.  

The choice of diversification strategy depends on various factors, including the company’s core competencies, market conditions, and risk tolerance. By diversifying, businesses can increase their revenue streams, reduce reliance on a single market or product, and enhance their overall growth potential. However, it’s important to balance diversification with a focus on core competencies and avoid spreading resources too thin