Expert Answer:Strategic Management Case Discussion

  

Solved by verified expert:You, Mike, and Tiffany meet in a conference room to begin to assemble your final presentation.This presentation will be the project deliverable, so you want to make sure you have provided all of the requirements.Mike begins, “I think we’ve done some pretty good analysis on our strategy. We just have to put the pieces together before the final presentation.”“We do have some solid information, but we have to look at all the parts to see if we can remain competitive,” Tiffany adds.Complete the following:A balanced scorecard is used to align the business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. Based on your analysis of the company’s four perspectives in IP3, develop a complete balanced scorecard that helps put the pieces together for your final presentation. Once completed, answer the following questions.What are the considerations that you need to be aware of to remain competitive?Based on the research and analysis that you have done, can you compete in the market that you have chosen? Why or why not?What primary factors led you to this decision?What would you say to someone who would dispute your position?How do you plan on evaluating the global marketplace in the future?
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Running Head: STRATEGIC MANAGEMENT CASE DISCUSSION
Strategic Management Case Discussion
Jolynn Patsy
Unit 4 DB
CTU
3/11/19
1
STRATEGIC MANAGEMENT CASE DISCUSSION
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Strategic marketing management in today’s globalized business requires an imperative
consideration of marketing strategy with regard to culture. As a marketing manager, I believe
that researching more about global marketing and understanding the surrounding challenges can
be effective for me to study on best strategies to apply (Peñaloza, Toulouse & Visconti, 2013).
Thus, considering the case scenario regarding cultural aspects that may impact my geographical
market expansion strategies I can consider reviewing language barrier, business norms, religious
beliefs, customs and taboos. Therefore, this will influence the cultural backgrounds of people
even when conducting business.
With regard to cultural differences, it is essential not to overemphasize language as there
are so many languages across the globe. I believe it will be challenging to my marketing
campaigns, branding or even product naming but I will need to find a better single branding
name which is inclusive from meaning and pronunciation (Peñaloza, Toulouse & Visconti,
2013). Correct use of grammar will be an advantage in my marketing interventions to make
customer view product brands as trustworthy. Additionally, business norms are essential and are
performed differently in different countries. When I decide to expand to the global market and
specifically host states can have a different business norm which can range from formal to
customary behavior that they are used to when working for their business (Christiansen, 2013).
For example, proper etiquette when presenting information before potential investors can be
useful. It may be insulting to proceed in business while not considering how other companies
perform their activities.
Moreover, customs and taboos will also be an influencing factor in my global expansion
as cultures have distinct and unique forms of traditions. Learning about different specific
customs and taboos will give me an opportunity to identify what can be considered acceptable or
STRATEGIC MANAGEMENT CASE DISCUSSION
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not in my marketing activities (De Mooij, 2018). For example, how China and Japan practice
their culture may be different and can affect my transition from one country to another.
Therefore, seeking guidance from local citizens who are experienced in local cultures can be
effective for me to understand how I will present my marketing plan. Also, religious beliefs are
so essential in culture, and every business needs to consider this factor as an influence (De
Mooij, 2018). Consumers can be influenced to purchase items based on their beliefs. Thus
understanding religious beliefs as a marketer will help be respective to various religious beliefs
and maintain my sensitivity lead my branding reputation to a fall. Therefore, tuning my
marketing plans with the local religious beliefs will be an advantage for me to align my
marketing and promotional according to religious practices.
Yes, of course, cultural differences have a negative impact on my marketing strategy as a
strategic manger. Finding strategic specifics is not an easy task, and it’s difficult considering the
presence of culture in today’s world of business. Also, due to the complexity of culture, it will
require me to find adequate time and effort to consider making the organization find its way
through the available customs (Christiansen, 2013). It will be a waste of time in which I take to
understand more about a culture and make business continue at the same time considering
competition is one of my company’s problem at the moment. Also, it will require to hire
experienced expertise while marketing the company which means resources and money will be
used which can be costly against my company’s budget (Christiansen, 2013). Therefore,
interpretation of my marketing concepts can be difficult for foreign languages that I come into
contact with when performing my business.
Influence of culture factor will mean I have to have a different strategy that suits every
culture. The culture shift is a necessary procedure that can automatically reveal new strategies
STRATEGIC MANAGEMENT CASE DISCUSSION
for purposes of me maintaining my company viability (De Mooij, 2018). My decision making
will have to be compatible with possible cultural differences to achieve my goals of
implementing a strategy that does not fall due to the consequences of not following culture
backgrounds. Scanning through and finding adaptive considerations as strategic manager will
help me spearhead on growth and expansion (De Mooij, 2018). It’s essential that I find new
responses that will instinctively answer every question that is objectionable throughout my
marketing activities. Therefore, the response will be triggered by my target customers when I
find compatible measures that apply with their cultural norm, taboos, procedures, and beliefs
respectively.
4
STRATEGIC MANAGEMENT CASE DISCUSSION
5
References
De Mooij, M. (2018). Global marketing and advertising: Understanding cultural paradoxes.
SAGE Publications Limited.
Christiansen, B. (Ed.). (2013). Cultural and technological influences on global business. IGI
Global.
Peñaloza, L., Toulouse, N., & Visconti, L. M. (Eds.). (2013). Marketing management: A cultural
perspective. Routledge.
Running head: STRATEGIC MANAGEMENT
Strategic Management
Jolynn Patsy
CTU
Unit 3 – IP
3/6/18
1
STRATEGIC MANAGEMENT
2
Strategic Management
Strategies give specifics on an organization’s capabilities to match with opportunities in
the market place to realize its objectives. Two generic strategies can be utilized in an
organization. They include the product differentiation strategy and the cost leadership strategy.
Product differentiation strategy gives an organization the ability to provide unique and superior
products against their competitors. The cost leadership strategy allows an organization to achieve
lower costs concerning improved productivity and efficiency, waste elimination as well as tightly
controlling costs.
There are four perspectives useful on a balanced scorecard, that is, the financial
perspective, the consumer perspective, the internal business process, as well as the learning and
growth perspective. All organizations that are money-oriented, the financial perspective is most
preferred. It primarily involves all the key objectives in matters related to financial health as well
as performance. This perspective naturally incorporates the revenue and profits of organizations.
Sources of revenue, profit margins, and cost savings are part of the financial aspects. The
customer perspective focuses on the objective of performance about the customers as well as the
market. It answers the question about what to deliver to the consumers in case the organization
has achieved a financial perspective. Serving customers and satisfying them, understanding the
market shares and brand awareness are some of the inclusions on the customer perspective. The
internal process aims to answer the question of the process to be adapted to deliver to the
customer perspective and the financial objectives. In this perspective, the organizational
managers set out internal operational goals as well as objectives relevant to improve
performance. Lastly, learning and growth put into consideration performance drivers. It involves
STRATEGIC MANAGEMENT
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a broad spectrum and therefore, is fragmented into various components. The human capital, the
information, as well as the organizational capital, make up the components of this perspective.
Having multiple strategies in case of international expansion is essential. This is because
it is hard to establish risks and uncertainties in the worldwide market. This indicates that the
choices of strategies made by a given organization cannot be secure and highly expected.
Relying on a single strategy is prone to losses and misfortunes if the organization fails to strive
in the competitive market successfully. Therefore to reduce the threats associated with global
expansion having multiple strategies is essential to focus on matters related to growth and
development. More so, numerous approaches are excellent and useful to maintain competition on
the market. This helps the organization to avoid being kicked out of the market as well as
stagnation challenges. Many strategies ensure that when one approach fails, the organization can
opt for a second strategy, more competitive than the previous one to maintain its position in the
market while getting profits. Besides, more strategies ensure that the organization continuously
grows and expands.
In conclusion, an organization expands only if its growth and performance are improved
on the market. This means that organizational managers should develop and adopt the best
strategies that can continuously expand their organization and ensure that its profile is
competitively at the top of the market rank. Subsequently, organizations ought to put the four
critical perspectives into practice to ensure that the organization functions well and can help the
managers achieve their objectives.
STRATEGIC MANAGEMENT
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References
Douglas, S. P., & Craig, C. S. (2009).Global marketing strategy. New York: McGraw-Hill.
Luo, Y. (2005). Entry and cooperative strategies in international business expansion. Westport,
Conn: Quorum
Hladchenko, M. (2015). Balanced Scorecard–a strategic management system of the higher
education institution. International Journal of Educational Management, 29(2), 167-176.
Running head: STRATEGIC MANAGEMENT
Strategic Management
Jolynn Patsy
CTU
3/5/19
1
STRATEGIC MANAGEMENT
2
Strategic Management
Introduction
The success and expansion of a corporation heavily rely on market structure analysis to
establish consumer tastes and preferences as well as an assessment of competitor strategies
within that particular market. Competition has always been believed to be a hindrance to
business growth. Some market strategists have opposed the phenomenon and commended
competition for the role it plays in enhancing innovation, product quality, and customer
satisfaction. Entry into a global market entails a comprehensive market survey to establish
market demands, current market products as well as an in-depth evaluation of the findings in a
SWOT analysis for the competitors.
Global Market Decision
The desire to counter the high rate of competition that has led to low sales volume as well
as the need to expand the market base has influenced John and Deborah’s corporate decision to
make a global market entry in China. China has various Furniture companies that operate both in
the local and global market. The most notable companies who are likely to be John and
Deborah’s corporate competitors are Shanghai JL&C Furniture Co. Ltd and Alibaba Group
Holding.
Shanghai JL&C Furniture Co. Ltd has strengths that make it competitive. It has a strong
relationship with local artisans, and it has highly trained employees that are capable of producing
quality furniture products of the desired designs, and they possess high-quality pricing offerings.
Several opportunities have been favorable for the company’s growth. The firm has a growing
market with significant consumers who have a positive attitude towards the corporation’s
products. Also, it can increase its production and sales volume while at the same time
STRATEGIC MANAGEMENT
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maintaining overhead costs. The weaknesses include high transportation costs incurred in
sourcing and selling inventory, as well as limited startup costs. The company’s threats include
high insurance costs and increasing costs of inputs. According to Clausen (2014), such risks and
weaknesses tend to lower the profit margin of the company.
Alibaba Group Holding’s strength has a highly experienced owner, is characterized by
high gross profit margins and it possesses an online platform for making sales. Its opportunities
include continued growth of online sales, and the ability to open branches in other regions and
states. Just like Shanghai JL&C Furniture Co. Ltd, Alibaba Group Holding has weaknesses and
threats that hinder its attainment of the targeted goals. The vulnerabilities include a high number
of customer congestion; thus affecting the quality of service offered to the clients. It also has
demoralized employees that experience heavy workload. The threats facing the company include
low numbers of employment from domestic workers; hence making some locals to dislike it.
Shanghai JL&C Furniture Co. Ltd and Alibaba Group Holding are direct competitors of
John and Deborah’s corporation due to the similarity of products produced in terms of design,
texture, and quality with those provided by John and Deborah’s corporation. Their competitive
advantage is that they manage to sell products at a lower cost without making losses due to their
high sales volumes and low production costs.
To achieve a successful entry into China, John and Deborah’s corporation will form a
cooperative strategy with Shanghai JL&C Furniture Co. Ltd for some reasons. The Shanghai JL
cooperation will allow John and Deborah’s corporation to share risks such as losses that are
common in the first entry phase into the market. Additionally, the partnership will aid the new
entrant in learning some of the strategies that the competitor has used to remain relevant in the
STRATEGIC MANAGEMENT
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market. Finally, cooperation will help in understanding the local laws and customs of running a
business within the foreign market (Kent & David, 2017).
Various strategies will be used by John and Deborah’s corporation to build a competitive
market profile. These strategies include intensive product promotion, appropriate market
segmentation and the employment of a new cohort of artisans who will aid in the production of
innovative products that will be better equipped to face the market competition.
According to McGee (2017), a balanced scorecard is a metric tool used by strategic
managers to identify gaps in the production and management functions, and it is used to make
adjustments aimed at ensuring that corporate goals are met. The tool will be used by John and
Deborah’s corporation to establish the degree at which the planned activities are executed
successfully, as well as adjusting the identified gaps.
Conclusion
A market survey is essential for establishing the degree at which a new business should
be sustained in the market. A SWOT analysis is necessary for analyzing competitors and how
their activities shall impact the business. Joint ventures are vital for new companies that enter a
global market since it allows the sharing of risks as well as helping new business owners to
understand the laws applicable in the new market.
STRATEGIC MANAGEMENT
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References
Clausen, T. (2014). Countering business threats with Digital Technology. Dental Lab Products,
39(7), 48.
Kent, David (Summer 2017). “Joint Ventures vs. Non-Joint Ventures: An Empirical
Investigation”. Strategic Management Journal. 12: 387–393.
McGee, Jeffrey (Summer 2017). “Cooperative Strategy and New Venture Performance: The
Role of Business Strategy and Management Experience.” Strategic Management Journal.
16: 565–580.

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