...Nelson College London | Course title | Unit number and title | BTEC HND in BUSINESS | Unit 7 : Business Strategy | Student name Student ID | Assessor name | | | Date issued | Completion date | Submitted on | 12th May, 2014 | | | | | Assignment title | Business Strategy | Assignment Brief Study of business strategy is vital for managers. Different strategic & audit tools help the managers to make appropriate strategic decisions for their respective businesses. Here, in this assignment, different strategic & audit tools along with various analysis methods have been covered. Theoretical framework of aspects of business strategy has been developed with appropriate examples in order to achieve all the assessment criteria. Task 1: Understanding the Process of Strategic Planning 1.1. Explaining Strategic Contexts & Terminology Organizations come to businesses with certain targets. They want to see themselves in certain expected positions in a certain period in future. They have certain goals & reasons behind their existence in the market & they identify definite means to accomplish them. These things can be expressed using different terminology - Mission: Companies have definite mission statements. The mission statement clarifies the purpose of the company for which it has entered into the market. In a nutshell, mission justifies the firm’s existence. (OREGAN, N and Ghobadian, A, 2002) According...
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...picture below. The SPACE matrix is broken down to four quadrants where each quadrant suggests a different type or a nature of a strategy: * Aggressive * Conservative * Defensive * Competitive This is what a completed SPACE matrix looks like: This particular SPACE matrix tells us that our company should pursue an aggressive strategy. Our company has a strong competitive position it the market with rapid growth. It needs to use its internal strengths to develop a market penetration and market development strategy. This can include product development, integration with other companies, acquisition of competitors, and so on. Now, how do we get to the possible outcomes shown in the SPACE matrix? The SPACE Matrix analysis functions upon two internal and two external strategic dimensions in order to determine the organization's strategic posture in the industry. The SPACE matrix is based on four areas of analysis. Internal strategic dimensions: Financial strength (FS) Competitive advantage (CA) External strategic dimensions: Environmental stability (ES) Industry...
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...quadrants where each quadrant suggests a different type or a nature of a strategy: Aggressive Conservative Defensive Competitive This is what a completed SPACE matrix looks like: SPACE matrix strategic management tool example This particular SPACE matrix tells us that our company should pursue an aggressive strategy. Our company has a strong competitive position it the market with rapid growth. It needs to use its internal strengths to develop a market penetration and market development strategy. This can include product development, integration with other companies, acquisition of competitors, and so on. Now, how do we get to the possible outcomes shown in the SPACE matrix? The SPACE Matrix analysis functions upon two internal and two external strategic dimensions in order to determine the organization's strategic posture in the industry. The SPACE matrix is based on four areas of analysis. Internal strategic dimensions: Financial strength (FS) Competitive advantage (CA) External strategic dimensions:...
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...NICHOLAS WANDEO 11JBAE116 TERM PAPER IBM 403 – MULTI CULTURAL COMMUNICATION. DUE DATE: 18TH OCTOBER 2013. LECTURER: C.W. SAKWA. PROFESSOR GEERT HOFSTED DIMENSIONS. QUESTION. A thorough understanding of the study of culture and intercultural communication must include the influential work of Professor Geert Hofsted. Examine comprehensively the cultural dimension model he came up with. Are there any additional development done by other Hofstede’s finding on cultural groups? INTRODUCTION International business is different from domestic business because countries are different in all nature. We can say that national differences in political, economic and legal system influences the benefits, cost and risks associated with doing business in different countries in the world. Scholars have never been able to agree on a simple definition of culture. In the 1870s the anthropologist known as Edward Tylor gave a definition of Culture as that complex whole which includes knowledge, belief, art, morals, law and other capabilities acquired by man as a member of society. On the other hand Greet Hofsted an expert on cross-cultural differences and management defined culture as the collective programming of the mind which distinguishes the member of one human group from another. He noted that Culture in this sense includes system of values and Values are among the building blocks of culture. While a well renowned Sociologist, by the name Zvinamenwirth and Robert Weber also sees culture...
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...Introduction As Lowe’s seeks new international markets to expand its highly successful home improvement model, the opportunities in the Asia market provide a unique untapped region. In Korea, recent political changes have opened its economy to foreign investors and businesses. Korea’s strong economic growth provides Lowe’s with the ideal situation of opening up stores before their competitors. Based on research I conducted, this assessment considers the potential of expanding Lowe’s into the Korean market. With any major investment, it is important to consider the monetary and non-monetary aspects including gaining an understanding of the culture, the ideal management approach, past and future trends, along with political roadblocks. In this paper, the following information provides a roadmap to the decision-making process. First, an assessment of the Lowe’s vision, mission, and promise are discussed and compared to the similarities and differences within Korea. Then, an analysis considers Korean trends that support the expansion of Lowe’s. Next, a culture assessment of Lowe’s base country (USA) is compared against Korea including management styles to consider for the local corporate office and stores. Lastly, a communication strategy is discussed based on the cultural assessment and offers best practices for the expansion of Lowe’s into Korea. This paper is intended to assist Lowe’s senior managers begin an assessment of expansion into the Asian market via Korea by...
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...Business Analysis of Canada Canada is the leading country in the world for an American business to expand because of the very similar culture and business environment to the United States. Americans operating in Canada will feel very comfortable integrating into society and will be able to successfully execute their business objectives. The key areas of focus to effectively prove Canada’s compatibility with American firms is based on the following criteria: * Culture * Management * Population Demographics * Compensation * Religion * Ethics * Political Risk * Economy Culture Canada’s culture is very similar to the United States and by analyzing the cultural dimension theory by Geert Hofsted, American businesses will be able to understand how the similarities positively impact the success of American expatriates working in Canada. Hofsted’s cultural dimensions theory is an analysis of 5 specific factors that define the makeup of a society. Using a ranking system he was able to compare over 50 countries to Canada in all of these dimensions: power distance, individualism, uncertainty avoidance, career success and planning for the long-term horizon. Power distance This dimension measures the rigidity or flexibility of a country in terms of how organizations structure management and subordinate relationships. If a country has a high power distance, management structures seem to be more rigid or hierarchal and a chain of command system is...
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...three dimensions of power and different political theories: Pluralism, Elitism and Marxism. Later on the assessment is going to talk about different forms of state power which are: use of force, authoritative leadership, use of nudge and surveillance. The last part of the assessment is going to criticise the three dimensions of power by using market liberals’ opinion that the state in fact should hold less power and give more of the power to the individuals by privatising public sector. The conclusion states that there is no exact definition of power and that it can be defined in different ways according to pluralists, elitists or Marxists. Introduction The beginning of the assessment is going to explain three dimensions of power and different political theories that associate with these dimensions, these are: pluralism, elitism and Marxism. Later on it will talk about different forms of state power. Explanation The first dimension of power is behaviourism according to Robert Dahl’s famous definition of power is: ‘’A has power over B to the extent that he can get B to do something that B would not otherwise do’’ which means that according to behaviourist philosophes in order to find out where power is we need to study different individuals behaviour. First dimension of power is pluralism. One of the pluralist observes was Robert Dahl who decided to monitor behaviour of city actors in New Heaven, Connecticut. Dahl wanted to abolish the myth that it is the business leaders...
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...Leadership styles, entrepreneurial orientation and family business growth in Ghana. The research problem While the number of family business abounds in Ghana, one sees lots of these slowly dying and some going bankrupt (Wolf, 2004). The lack of continuity and growth in family businesses is a major concern because of the primary contributory role that family businesses play in the world economy (Lansberg 1999: 1). It is perceived that entrepreneurial activities in Ghana lack the dynamism and competitive edge of those in more developed countries (Saffu, 2004). One reason that can be advanced is the lack of appropriate leadership style and competencies to manage the family business enterprises in Ghana (Wolf, 2004). Researchers in the fields of organizational behavior and leadership have examined leadership styles and their effects on such variables as job satisfaction, job stress, role conflict, job performance and organizational commitment (Humphreys et al., 2003, MacKenzie et al., 2001 and Stock and Hoyer, 2002), in the context of the North American and other developed countries and has rarely been conducted in emerging economies with different cultural orientation (Fakhrul et al 2011), and the Ghanaian context is no exception in this regard. Globally, there is a dearth of research regarding the influence of leadership styles and entrepreneurial orientation on the growth of service sector businesses including private schools. According to (Kest, 2007) there is a lack...
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...B2B MARKET SEGMENTATION 5 KEY SEGMENTATION DIMENSIONS WRITTEN BY: ART WEINSTEIN PHD PROFESSOR OF MARKETING NOVA SOUTHEASTERN UNIVERSITY ART@HUIZENGA.NOVA.EDU 954‐262‐5097 FRANK JAMIESON MBA PRESIDENT APPLIED DM RESEARCH INC FRANK@APPLIEDDMRESEARCH.COM 415 884 9902 B2B SEGMENTATION STRATEGY DEVELOPMENT VITAL INGREDIENTS + CREATIVE COOKING Effective b2b segmentation is like gourmet cooking – you need a nice variety of ingredients to create a delicious balance of flavors and a certain unexplainable artistic skill to combine the ingredients into a crowd pleasing experience. The primary purpose of this whitepaper is to introduce a list of b2b segmentation ingredients that ...
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...and tastes. Example Coca-Cola’s product portfolio consists of regular, low- and no-calorie beverages including sodas (e.g., Coca-Cola and Coke Zero), energy drinks, still and sparkling waters (e.g., Dasani), juices and juice drinks, sports drinks (e.g., vitaminwater) and bottled teas. PRODUCT PORTFOLIO ANALYSIS : Product portfolio analysis evaluates the current products of the firm on a number of key dimensions ( profitability, growth, risk) and provides the input to management decisions on addition of products, modification of existing products, or deletion of product and allocation of resources among the various products and markets. DIMENSIONS OF PRODUCT PORTFOLIO: 1. —Level of Business Analysis. 2. —Level of Market. 3. —Time Dimensions of variables. 4. —Sales. 5. —Competitive Strength. 6. —Profitability. 7. —Risk. 8. —Demand on resources. 9. —Utilization of resources. APPROACHES TO PRODUCT PORTFOLIO : Standardized approaches to Product Portfolio analysis are : — 1. BCG Growth Matrix. 2. —AD Little Business Profile Matrix. 3. —The Shell International directional Policy Matrix. 4. —The...
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...countries relating to the five dimensions of power distance, uncertainty avoidance, individualism, masculinity, and time orientation. How do they compare with those of the United States? What country-specific factors account for the differences? What impacts would they have on your management operations? | | | | | | Geert Hofstede developed the Model of National Culture. This consisted of the five dimensions that speak to cultural values. They include power distance, uncertainty avoidance, individualism, masculinity, and long-term orientation. Comparing Brazil with the United States shows a major difference in how each country chooses to operate in each individual dimension. The United States is ranks lower in the area of Power Distance, significantly higher in Individualism, slightly higher in the dimension of masculinity, significantly lower in uncertainty avoidance, and slightly lower in long-term orientation. Brazil reflects a society that believes more in a hierarchy that should be respected, protecting members in exchange for loyalty, they are both intermediate on masculinity, who show a strong need for rules, while maintaining being able to deal with past and future challenges (Geert-Hofstede, 2015).Some of the country’s background such as the need to show respect to elderly as well as children are to take care of their elderly parents is an area which contributes to the difference in the power distance dimension. Family is a bond that reaches...
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...which can be defined as the long term ability of managing and maximizing practices to achieve positive outcomes while minimizing the negative impacts on future generations and their ability to achieve future needs. (Hitchcock & Willard 2009; White 2009; Crowther & Capaldi 2008; Henriques & Richardson 2004; Aras & Crowther 2008) The 1987’s Bruntland Report (Our Common Future), by the World Commission on Environment and Development (WCED), identified economic, social and environmental aspects as dimensions present in the concept of sustainability. (Crowther & Capaldi 2008; UN Documents 2011; Filho 2000) [Refer to Figure 2] This TBL reporting standard has been established to expand transparency of corporate reporting. (Mueller, Klandt, McDonald & Finke-Schuermann 2007) Figure 2 – The Elements of Sustainability (Source: Crowther & Capaldi 2008, pp. 33) The economic aspect refers to the economic impacts of corporations while the social dimension refers the impacts on firms’ stakeholders like employees, customers and the broader community. The third which is environmental recognizes the impact of businesses on the natural environment. (Ridgway 2005; Trevino & Nelson...
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...Conference on Information Systems (AMCIS) at AIS Electronic Library (AISeL). It has been accepted for inclusion in AMCIS 2000 Proceedings by an authorized administrator of AIS Electronic Library (AISeL). For more information, please contact elibrary@aisnet.org. A Comprehensive Framework for Classifying the Benefits of ERP Systems Shari Shang, Department of Information Systems, The University of Melbourne, sshang@jeack.com.au Peter B. Seddon, Department of Information Systems, The University of Melbourne, p.seddon@dis.unimelb.edu.au Abstract This paper presents a framework for assessing the business benefits of Enterprise Resource Planning (ERP) systems. After analyzing the features of ERP systems, the literature on IT benefits, data from 233 ERP-vendor success stories published on the web, and interviews with 34 ERP cases, we have produced a consolidated framework of five benefit dimensions. This framework tries to classify the types of benefit that organizations can achieve by using ERP systems and provide a comprehensive foundation for planning, justifying, and managing the system. The framework focuses on benefits only, from the point of view of management as stakeholders; it...
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...Eastern Michigan University DigitalCommons@EMU Senior Honors Theses Honors College 2009 U.S. Business and Global Barriers to Entry Caitlin Long Follow this and additional works at: http://commons.emich.edu/honors Recommended Citation Long, Caitlin, "U.S. Business and Global Barriers to Entry" (2009). Senior Honors Theses. Paper 167. This Open Access Senior Honors Thesis is brought to you for free and open access by the Honors College at DigitalCommons@EMU. It has been accepted for inclusion in Senior Honors Theses by an authorized administrator of DigitalCommons@EMU. For more information, please contact libir@emich.edu. U.S. Business and Global Barriers to Entry Abstract An exploratory view of barriers to entry in countries of significance to U.S. companies, this thesis provides a comprehensive overview of prevalent business strategies of U.S. trading partners as well as a forecast of their international business policies. Diverse macro-environmental variables, such as economy, culture, and regulations result in varying barriers to entry for U.S. based firms to conduct business in U.S trading partners’ countries. This thesis will determine how these macro-environmental factors foster or stunt growth and strategies governments employ to attract businesses. Degree Type Open Access Senior Honors Thesis Department Marketing First Advisor Harash Sachdev Keywords International trade, Foreign trade regulation, Investments, Foreign China, Investments...
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...sustainability as business conditions change. However, only recently corporations started integrating sustainability as the part of their business strategy as they came to recognize that it is an essential part in growing and establishing themselves as the leader in the competing environment. A well-executed sustainability strategy can enhance the company’s value and reinforce competitive advantage in the market while protecting the capital base. The balance of power has shifted between corporations and it is important to balance economic prosperity along with environmental and social dimensions. Sustainable business strategy represents a marked shift in traditional business practices and companies who do not adapt to the changes in these practices in order to achieve sustainable profitability will be more likely to face the brand value decline or even extinction in the future. For instance, the change represents the need to understand how all three dimensions affect each other and companies ought to consciously create new consumer preferences. However, a lot of companies still are missing guidelines to implementing a marketing strategy of sustainability as an essential part, which is at the core of ensuring organizational, social, economic and environment growth while managing overconsumption issues (White, 2011). Current researches tend to focus on developing a more sustainable approach on product design, pricing, promotion and distribution when it comes to the sustainable business strategy...
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