Revolution in Global Wine Market: Economic Globalization
Introduction
With the development of economic globalization, the global wine market was experiencing a revolution and the competition between the Old World and New World was changing extensively. Many corporations of wine producers form the Old World, for example, France and Italy, etc. found that themselves constrained by restrictive industry regulations, embedded practices and traditions, and complex legislation, and these restrictions of the Old World wine produces provided many opportunities for these wine corporations from Australia to challenge for the leadership with the more established traditional wine producers by bringing innovations.
This case study aims to use both the strategy from resources-based view and the strategy from institutions-based view to analyze how the changing industry environment give the producers such as Australia from New World opportunities, while bring the threats to the traditional wine producers, such as Italy and France. The analysis also includes that New World producers have identified some of them take the opportunity to take advantage of these changes and compete in the global wine industry, and to consider the arranged and officious institutional condition of the comparative wealth of the New World producers and Old World producers, in particular the resources and capabilities of their individual value. Resources-based view of strategy
Resources-based view points out that the specific resources and capabilities are a source of competitive advantage. Resource-based framework for enterprise marketing capabilities includes: marketing culture, marketing strategy and marketing operation, which are an important means for companies to achieve competitive advantage in the interaction process with the environment. Daniel’s research shows that the growth and efficiency of companies have a positive relationship with the raw materials, equipment, operational processes and innovative strategies possessed by them. The New
With the development of economic globalization, the global wine market was experiencing a revolution and the competition between the Old World and New World was changing extensively. Many corporations of wine producers form the Old World, for example, France and Italy, etc. found that themselves constrained by restrictive industry regulations, embedded practices and traditions, and complex legislation, and these restrictions of the Old World wine produces provided many opportunities for these wine corporations from Australia to challenge for the leadership with the more established traditional wine producers by bringing innovations.
This case study aims to use both the strategy from resources-based view and the strategy from institutions-based view to analyze how the changing industry environment give the producers such as Australia from New World opportunities, while bring the threats to the traditional wine producers, such as Italy and France. The analysis also includes that New World producers have identified some of them take the opportunity to take advantage of these changes and compete in the global wine industry, and to consider the arranged and officious institutional condition of the comparative wealth of the New World producers and Old World producers, in particular the resources and capabilities of their individual value. Resources-based view of strategy
Resources-based view points out that the specific resources and capabilities are a source of competitive advantage. Resource-based framework for enterprise marketing capabilities includes: marketing culture, marketing strategy and marketing operation, which are an important means for companies to achieve competitive advantage in the interaction process with the environment. Daniel’s research shows that the growth and efficiency of companies have a positive relationship with the raw materials, equipment, operational processes and innovative strategies possessed by them. The New