[SOLVED] Strategic Management in Dynamic Environments

Assignment Details Assignment Description Primary Discussion Response is due by Friday (11:59:59pm Central), Peer Responses are due by Tuesday (11:59:59pm Central). Primary Task Response: Within the Discussion Board area, write 600–800 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.. As the firm looks for ways to offset the domestic downturn in sales, Deborah, the CEO of your company, wants to determine if a global strategy is a good fit for the organization.  She has designated you as the manager for this project.  You will work with your team to develop a global marketing plan for your organization. You begin your research in deciding if and what the global strategy should be. You get your team together and begin to discuss a plan on how you will research this possibility. You start the meeting by saying “Let’s brainstorm and start to get a plan together for a possible globalization strategy. Tiffany, I’d like you work with me to begin researching possible locations.” Tiffany says, “I think we need to research some locations, but I think there is more to it than that. There still needs to be a decision on the type of strategy or approach we are taking. Would we use a multidomestic approach, a global approach, or a transnational approach? I’m still not entirely convinced a global strategy is the answer.” “Great point, Tiffany. It is obvious to me as well that we need to explore a strategy that will put us in a better position to handle the economic downturn. We have to provide the board with the facts. They seem to be leaning in the direction of a global strategy, but I’m not sure it’s the right move either. That’s why we need to do research.” Domestic profit margins have dropped by 2% this quarter. You wonder how you and your team can help fix this. Is a global strategy the answer, or should the company continue to focus on the domestic market? You call a team meeting to learn about the progress of their research.  Tiffany, one of your team members, begins the discussion. “I think we need to look at some of the internal factors,” she says. “We know what our capabilities are on the domestic front, but what about in the global market? We have a fairly strong market presence here in higher-end markets, but how does that translate globally?” Discuss the following: How do you define a global strategy? Compare and contrast global strategy with other international expansion strategies. Identify a minimum of 3 possible countries for globalization. Research each of these locations in the furniture industry, and document both the pros and cons of using these in global strategy. What country would you choose? What evidence can you provide in support of your choice? What evidence might somebody else, who does not agree with you, provide to support an alternative choice? Recommend two or three areas to benchmark in preparation for the decision regarding global expansion. MUSE materials provide information regarding this topic. The materials found in the M.U.S.E. may help you with this assignment, such as the audio file Benefits of Globalization. This file provides real-world experience, which may help you with this assignment. Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions: What did you learn from your classmate’s posting? What additional questions do you have after reading the posting? What clarification do you need regarding the posting? What differences or similarities do you see between your posting and other classmates’ postings? For assistance with your assignment, please use your text, Web resources, and all course materials. M.U.S.E. may help you with this assignment, such as the audio file Benefits of Globalization.  Listed Below: Introduction The story that you are about to hear is from actual events that occur in the field. Its purpose is to provide you with a real-world example from a seasoned professional in the business world. Benefits of Globalization Because our firm’s lack of globalization was identified as the culprit of downward manufacturing margins, we decided to focus on a plan that would accomplish two things in the global marketplace. First, we wanted to bring the cost of production down by exploring manufacturing alternatives outside the United States. Second, we wanted to establish a supply chain network that would allow our company to penetrate new markets quickly and efficiently in developing economies. We found that countries that were ideal for manufacturing our products included Brazil, Russia, India, and China. These countries have strong currencies and a rapidly growing consumer population. These countries were chosen for manufacturing sites based on their recent economic growth, sound infrastructure (utilities), political stability, and overall cost of operations. We shopped only for manufacturing plants that were close to ports or along rail lines, and in countries where labor costs were a fraction of those in the United States. We found that we paid at least a third less for labor abroad than we did at home, and by manufacturing in foreign cities where products were in demand, we saved on costs that would have been associated with exporting products from the United States. Because, up to this point, globalization had not been our company’s strong point, we engaged an international logistics firm to help determine the best practice global manufacturing sites and how to efficiently transport our goods to familiar and unfamiliar markets. It was not long before our company began to command market share at the global level. By increasing market share while lowering operating costs, profits margins started to trend upward at our company. We maintained our position as a market leader not only in the United States, but in the world as well. Unit 1: Beginning Development of Global Strategies  Book:Strategic Management in Dynamic Environments by McGrawHill Create ISBN: 9781309054956 Unit 1 uses:McGraw Hill Create – Chapters 1 and 7. Chapter 4, pg. 99 Development of Global Strategies

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