"3.0 Develop and propose a strategy for the organization’s international business strategy tothereby determine and ensure its readiness.The strategy should be suited to theorganization, its industry and the environmental influence of the target country. Competitive strategiesCompetitive strategy is about being different. It means deliberately choosing to performactivities differently or to perform different activities than rivals to deliver a unique mix of value. It is identified that both Best Cost Provider strategy and Focused Differentiation strategy isbeing used at Lankem Developments PLC. When analyzing the whole company of Lankem, theyhave adapted Best Cost Provider strategy. It is a strategy of trying to give customers the bestcost/value combination, by incorporating key good-or-better product characteristics at a lowercost than competitors. Successful implementation of this strategy requires the company to havethe latest technologies, resources, skills & capabilities to incorporate up-scale features at areasonable cost than competitors. When analyzing each segment of constructions, they have involved, such as road construction,water proofing and industrial flooring, each of the segments have adapted FocusedDifferentiation strategy. It is a second market niche strategy, concentrating on a narrow customersegment and competing through differentiating features. Road construction, industrial flooringand water proofing are narrow areas that company has involved. They have differentiated theirproducts by applying them the latest technology and new innovations.Proactive movesSri Lankan Painting industry is challenged with problems of manpower, quality of productivityand time. First, workers in the industry are bounded with contracts which eventually become aproblem. Some of those who are working within the industry come from countries such as China,Korea and Japan and with less local workers. When local workers are available, they areconsidered to be low-skilled and/or inexperienced. Such manpower problems directly affect thequality of productivity. Effective management of construction suffers which delays thecompletion of the said projects. In here the Lankem Development PLC uses proactive moves tomaintain the labor resource in construction projects such as attractive incentive schemes, bonus16 schemes and high range of salary scale than the other construction company?s like Sierra andeven Mas Holdings.Reactive movesA solvent-borne two components (Epoxy-Polyamide) high performance coating for interior use,over coated or uncoated concrete, stone, metal and wood floor surfaces is a major reactivemovement or product of Lankem development PLC. Those are very good resistant to impact,abrasion, scuffing, spillages of oils, petrol, detergents and dilute aqueous chemical solutions.Remove all dust by vacuum cleaning. Patch prime all bare areas (including any areas of makinggood) with one coat of Lankem Kemikote Primer, thinned up to 10-15 % by volume with freshwater. Bring forward with one coat of Lankem Kemikote Floor Paint within 48 hours of dryingLankem Kemikote Primer.Scope of geographical list Lankem Development PLC is locally operating and not extended up to even regional, national,multinational and foreign markets.Headquarters is located in Colombo.Supply Chain Management StrategyI. Integrating backward as an industrial chemical supplier. Through this integration theyhave reduced some of the costs which they will have to incur if they have outsourcedindustrial chemicals when they are doing industrial flooring constructions.II. Directing all materials to the construction site where the object is assembled fromincoming materials.III. Ensure dependable material and labor flows to the site to avoid disruption to workflow.This is achieved by simply focusing on the relationships between the site and the directsuppliers. IV. Reducing costs in logistics, lead-time and inventory. V. Transferring activities from the site to earlier stages of the SC. This is used simply toavoid inferior on-site conditions, or to achieve wider concurrency between activities. 17 Financial StrategyThe Company?s financial strategy focuses on the following objectives in discharging itsresponsibilities taking into consideration the terms of reference together with the requirements ofthe Listing Rules of the Colombo Stock Exchange.(a) Risk Management(b) Efficiency of the system of internal controls(c) Independence and objectivity of the external (statutory)Auditors(d) Appropriateness of the principal accounting policies used(e) Financial Statement integrity(Above information are based on the annual report of Lankem Development PLC)18 4.0 Critical evaluation of the implementation approach of the international businessstrategy for the organization.A Realized strategy is a blend of Proactive strategy elements which include both continued andnew initiatives as well as Reactive strategy elements which include strategy elements that arerequired due to unanticipated competitive developments and fresh market conditions.As a responsible corporate citizen and one of the leading finance companies in the country, theyhave a huge responsibility towards strengthening the financial sector through various measures.In doing so, their primary task is to manage their own operations effectively and efficiently byensuring the following things:? Execution of business programmes based on a proper corporate plan;? Establishing and following corporate values, policies and procedures;? Corporate governance;? Employee competency development; and? Enhancing the operational efficiency levels of IT systems.In addition to the above development areas of internal-focus, they need to continue their focusplaced on economic, social and environmental development programmes of the nation; and bydoing this, they will indirectly help the country achieve the targets set by the Government. At the moment, through various services under their product portfolio and Corporate Social Responsibility (CSR) projects, they have been assisting their countrymen by –? Providing credit facilities for business and agricultural purposes,? Helping people meet urgent cash/fund requirements,? Making contributions to the construction industry with high quality inputs,? Engaging resources for green revolution of the country,? Developing critical skills in the workforce, and? Helping the poor and other disadvantaged groups in the society.19 Best Cost Provider Strategy and Focused Differentiation strategy adapted by LankemDevelopments PLCa) Aims at consumers that are value-conscious.b) Company focuses on giving customers more “bang for the buck” by balancing price withservice quality.It is these extras that drive up the price.c) Company offers a good enough service at a reasonable price.Lankem customers alwaysfeel there is something special to be had.d) Strives to deliver more at a reasonable cost very helpful to the company overall andLankem passes the savings on to the customer.e) Increased service quality, better performance, and good customer service are all commonroutes that Lankem walks through.f) Using new technologies and hooking up with the supplier offering better prices forsupplies.Business Strategy Framework? Competitive strategies? Proactive moves? Reactive moves? Scope of geographical list ? Collaborative Partnerships and strategic alliancesCompetitive strategies:Competitive strategies are the method by which you achieve acompetitive advantage in the market. Proactive moves:The proactive moves are designed to offer protection, but to what degreebecomes the concern. Reactive moves: The reactive moves are designed to offer protection after the incident has takenplace.20 "