Each will be tied to different tactical objectives and timeframes. The effectiveness of the process will be measured in terms of adherence to time frames, cost and key market variables such as penetration and market share. Each variable should be quantitative to facilitate ease of measurement and evaluation. A wide variety of legal issues will need to be considered. Doing business is foreign countries creates significant exposure to risk, in that the foreign legal environment can be substantially different from the domestic one. The nature and intensity of these differences will be considered. Also, it will be considered if there are any legal or ethical considerations domestically as a result of overseas expansion. To use an extreme example, setting up a factory in Cuba would create a host of legal and ethical concerns that would need to be accounted for in the option evaluation process. It will be critical to hire local legal experts to help sort out the myriad of potential issues. Issues that could affect the decision-making process include trade agreements, labor standards, tariff systems, administrative and technical barriers and the general robustness of the legal system (FAO, 2000).

With respect to ethics, a code of ethics must be drafted to avoid conflict between local and domestic ethical mores (Mitchell & Curry, 2003).

Conclusion

Able Corporation is at the precipice of a new strategic direction. Such moves cannot be taken lightly. It is imperative that all aspects of strategic planning...

The first step is to understand where the company is today and where it wants to be in the future. This will guide it towards a mission statement. That mission statement in turn will be the focal point of the entire strategic process. From there, the details must be worked out with respect to formulation, implementation and measurement. Numerous issues will need to be considered, including the legal and ethical ramifications of the strategy that has been decided on.
David, Fred. (2008). Strategic Management: Concepts and Cases. Prentice Hall, Upper Saddle River, NJ. 2008.

Radtke, Janel. (1998). How to Write a Mission Statement. TGCI Magazine. Retrieved February 22, 2009 at http://www.tgci.com/magazine/How%20to%20Write%20a%20Mission%20Statement.pdf

Mitchell, Charles & Curry, Jeffrey E. (2003). A Short Course in International Business Ethics: Combining Ethics and Profits in Global Business. World Trade Press, Petaluma. 2003.

No author. (2000). Chapter Four: The Legal, Political/Trade Environment. Food and Agriculture Organization of the United Nations. Retrieved February 22, 2009 at http://www.fao.org/docrep/W5973E/w5973e08.htm

Boyce, Sharon Yvette. (2007). Using Intellectual Capital and Organizational Capacity to Enhance Strategic Implementation for Pharmaceutical Firms. Journal of Business and Public Affairs. Retrieved February 22, 2009 at http://www.scientificjournals.org/journals2007/articles/1072.htm