2-3 PagesComplete the following:·•A balanced scorecard is used to align the business activities t

  

2-3 PagesComplete 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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Unit 4 ­ Individual Project
Assignment Overview
Go To:
Type: Individual Project
Unit: Cultural Considerations
Due Date: Wed,7/31/19
Grading Type: Numeric
Points Possible: 125
Points Earned:
Deliverable Length: 2–3 pages
Assignment Details
Scenario
Learning Materials
Reading Assignment
My Work:
Online Deliverables: Submissions
This assignment is the Common Assignment
Assignment Details
Assignment Description
Key Assignment Draft
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?
Please submit your assignment.
For assistance with your assignment, please use your text, Web resources, and all course materials.
Reading Assignment
McGraw Hill Create – Chapters 9 and 12
Assignment Objectives
Appraise cultural issues to avoid pitfalls and manage international projects successfully
Compose, prepare and recommend strategies to achieve and sustain a competitive market profile.
Formulate a balanced score card that translates a company’s strategic objectives into a coherent set of performance measures.
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Running head: STRATEGY COMPOSITION
Strategy Composition
Philidian Braswell
Colorado Technical University
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STRATEGY COMPOSITION
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A balanced scorecard involves a series of cause and effect relationship, which shows how
the business plans to achieve its strategy. It comprises of both the nonfinancial and financial
measures which are used to evaluate the business performance. The balanced scorecard has four
perspectives which are essential in evaluating the business performance. In this case, the four
perspectives included in the balanced scorecard are essential in developing the strategic
framework which will be applied by the company to start expanding internationally.
Description of the four perspectives of the balanced scorecard
The learning and growth perspective
This perspective comprises on the more intangible aspects which drive the business
performance. It comprises of human skills, organizational culture, and information capital. The
human capital comprises of knowledge, skills, and talent. Also, the information capital
comprises of information systems, network and technology infrastructure, safety systems, and so
on (Douglas, & Craig, 2009). Lastly, organizational capital comprises of leadership, culture,
knowledge management, and teamwork. The learning and growth perspective involves
equipping the employees with the necessary knowledge and skills to enhance their service
delivery. In our organization, learning and growth perspective means that the organization will
focus on equipping the employees with the necessary skills and knowledge, which improves their
satisfaction.
Internal processes
It involves the measures the company puts in place to improve internal processes.
According to Galankashi, Helmi, & Hashemzahi, (2016), streamlining the internal organization
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STRATEGY COMPOSITION
processes improves the customer’s satisfaction. The company can improve its internal processes
by confirming whether the products produced conform to the customers’ expectations or needs.
The customer’s perspective
The customer’s perspective focuses on the customers. The success of a business is
determined by its ability to define the appropriate market target. In this case, the company can
focus on improving the customer’s satisfaction or increasing its market share. The company can
improve its market share by brand awareness or improving customer service and satisfaction.
Financial perspective
In this section, the company focuses on improving its monetary value. In this case,
organizations focus on increasing the revenue by either minimizing cost, increasing profit
margins, or adding new revenue channels. By focusing on extending internally, the company
plans to add new revenues.
Other two strategies
Some strategies that can be included in the global expansion framework include, one, the
company chooses a market penetration strategy. According to Peng (2012), market penetration
strategy involves an approach that the organization uses to enter into a global market. The
company can choose different strategies, which include quality orientation, price leadership, and
so on. Lastly, the company should think of marketing and promotion strategy. Marketing plays
a crucial role while the company is expanding to the global market. The company chooses
appropriate marketing to create product awareness to expand its market share.
Important to combine a Number of Strategies
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STRATEGY COMPOSITION
It is crucial to combine several strategies while the company is expanding in the global
market. It helps to mitigate risks or uncertainties. It’s challenging to comprehend the risks
forces of the global market, and the best way to minimize unintended uncertainties is to combine
various strategies. It helps in increasing the competitive edge of the organization. By expanding
globally, the company will experience huge competition from other large local and international
companies. There is a high probability that an organization will survive in the global market by
combining different strategies. The company needs to arm itself by combining various strategies
to be on the safe side.
Conclusion
Growth strategy helps the organization improve its sales. The company needs to form a
joint venture before entering the global market. This will help the company to create its product
awareness to the new market. Also, the company can offer licenses to the distributors to sell
products on its behalf. The distributors will be required to pay a royalty to the manufacturer.
This will help in creating product awareness before the company establishes its branches in
different locations.
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STRATEGY COMPOSITION
References
Peng, M. W. (2012). The global strategy of emerging multinationals from China. Global Strategy
Journal, 2(2), 97-107.
Galankashi, M. R., Helmi, S. A., & Hashemzahi, P. (2016). Supplier selection in automobile
industry: A mixed balanced scorecard–fuzzy AHP approach. Alexandria Engineering
Journal, 55(1), 93-100.
Douglas, S. P., & Craig, C. S. (2009). Global marketing strategy. New York: McGraw-Hill.
Philidian Braswell
MGMT690
Unit 4 DB
July 30, 2019
Cultural Considerations
What cultural considerations should you take into account for your strategy?
With regards to forming a cross-border market expansion, there are various variables to consider,
one of the most significant being cultural considerations related with the arrangement and district
of development. . “Culture is the characteristics and knowledge of a particular group of people,
defined by everything from language, religion, cuisine, social habits, music and arts”
(Zimmermann, 2015). These qualities have gone from age to age, and because of the innovation,
online networking, and so on, it could change a little since now every culture could gain from
others by watching others. Notwithstanding, their principle culture it would not change and we
have to ensure that we regard the way of life of Canada. We must remember that Canada has
some of the same tendencies as the Americans, British, and French. Most Canadians identify
themselves very strongly with their province. Respect for opinions, equality, diversity and justice
are, however, the values governing the business environment (n.d.) We should find out about the
way of life and ensure our organization remains in accordance with their way of life yet not
losing our own it is possible that; it will be difficult to clarify or characterize culture yet how
about we recall that culture is a blend of a few components, for example, when first meeting with
Canadians you greet them with a handshake, followed by introducing our company and the entire
team, always remember that when greeted by the opposite sex, a cheek to cheek kiss is given.
Greet the Canadians with “Mr” or “Mrs”, and always thank them for meeting with us when the
meeting has come to an end. A lot of companies like to give their counterparts gifts, but in the
Canadian culture they do not expect gifts. If we adapt to this we will when major points with
this culture. It’s very important that we study the culture and no it so that we will not come off
to be disrespectful at any time of conducting business.
Today, every business has national teams that are located outside of the United States and these
same copies have well over 10 different nationalities. There is a lot we a company can gain from
working with people from so many diverse countries and cultures. Having a multinational
environment in our company can increase our value to employers, be able to learn about different
cultures, there will be insights and creativity thrive, and it will give our company and our
employee’s free exposure to different languages (Hass, Hartmut, 2011).
Looking at our current strategy this will not put any negative impact on it that the team has come
up with. It will only improve it and allow it to expand and grow in the future. Doing so we will
have to keep in mind the cultural differences and do not fail the mission that is set forth. We also
cannot not always think the strategy will just work out 100%, that’s why it’s always good to be
able to adapt and overcome little bumps that we may have. The ultimate goal is to accomplish
the mission and become stronger. Understanding Canada completely will come with time and
experience working with this country. Continue to learn more, keep their culture into
consideration, without losing our purpose as a company and being aware of who we are.
References
Canada: Business practices. (n.d.). Retrieved from https://en.portal.santandertrade.com/establishoverseas/canada/business-practices
Hass, Hartmut. (September 8, 2011) The International Journal of Human Resource Management
Zimmermann, K. (February 19, 2015). What is Culture? – Definition of Culture. Retrieved on
April 20, 2017 from http://www.livescience.com/21478-what-is-culture-definition-ofculture.html

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