Chat with us, powered by LiveChat Choose?1 country that the organization you’ve been working on in this course could consider expanding into. ?Analyze?that potential international market by considering the 4 aspects - Wridemy Bestessaypapers

Choose?1 country that the organization you’ve been working on in this course could consider expanding into. ?Analyze?that potential international market by considering the 4 aspects

TARGET

 Choose 1 country that the organization you’ve been working on in this course could consider expanding into.

 Analyze that potential international market by considering the 4 aspects of the Diamond of National Advantage: industry rivalry, demand conditions, related and supporting industries, and factor endowments 

 Analyze the forces (in the home market and international market) that will help the organization succeed with its expansion, and the forces that may act as barriers to that expansion. Refer to your analysis of strengths and weaknesses completed in Week 1, the Porter’s Five Forces worksheet from Week 3, and your analysis of the Diamond of National Advantage. 

 Evaluate the 4 adjustments leaders must make when expanding internationally (Burkus, 2012). Recommend 1 specific leadership action for each adjustment. Explain each of: Develop a global mindset, Develop sensitivity to cultural differences, Decentralize, Decide on the level of involvement. 

PowerPoint presentation to present your analysis and recommendation 

A cover slide
Identification of the country you have chosen. Include demographics. (1 slide, with brief speaker’s notes)
1 slide for analysis of each of the elements of the Diamond of National Advantage. Explain both in terms of the country's and the company's abilities and attributes.) (4 slides, with speaker’s notes)
Summary of analysis of the forces that will help the organization succeed in the new country (1 slide, with speaker’s notes)
Summary of analysis of the forces that will hinder the organization’s success in the new country (1 slide, with speaker’s notes)
Leadership actions required to make the 4 adjustments identified by Burkus (2012). ( Explain each of:

Develop a global mindset, 
Develop sensitivity to cultural differences, 
Decentralize, 
Decide on the level of involvement) (1 slide, with speaker’s notes)
A recommendation and rationale (1 slide, with speaker’s notes)
Conclusion

Attaches are the assignment from week 1 and week 3 for reference and Burkus (2012).  Please Include Images.   Images need to be ADA compliant and have alternate text

MGT/576 v1

Title

ABC/123 vX

Page 2 of 2

Entrepreneurial Strengths and Actions to Increase Value Creation

Company name: Target

Company website URL: https://www.target.com/

1. Diverse Product Range: Target boasts various products, ranging from clothing and electronics to groceries, catering to a broad customer base and enhancing its competitive advantage (admin, 2023).

2. Effective Supply Chain Management: The Company’s robust supply chain management ensures efficient inventory control, minimizing stockouts and maintaining consistent product availability.

3. Customer-Centric Approach: Target focuses on delivering an exceptional shopping experience with initiatives like customer loyalty programs, easy returns, and personalized offers through data-driven insights (admin, 2023).

4. Innovative Store Layouts: The retail giant frequently updates store layouts, integrating digital displays and creating themed sections to engage customers and encourage exploration (admin, 2023).

5. Strategic Partnerships: Target forms partnerships with exclusive brands and designers, attracting shoppers seeking unique, high-quality products.

Major Elements of the Company's Approach to Entrepreneurship and Value Creation:

A dynamic interplay between innovation, customer-centricity, and operational excellence characterizes target's approach to entrepreneurship. At the core of its strategy is a relentless commitment to understanding and meeting customer needs (Repko, 2022). Target gathers insights that inform its product assortment, pricing strategies, and service enhancements through market research, data analytics, and direct engagement.

The company's entrepreneurial spirit is evident in its willingness to experiment with novel retail concepts. Target leverages its physical and digital presence to create seamless omnichannel experiences, enabling customers to browse, order, and receive products through various channels (Repko, 2022). This multichannel approach expands its market reach and enriches the customer journey.

Value creation is intricately woven into Target's operational fabric. The company continuously refines its supply chain and inventory management systems, minimizing costs while maintaining product availability and quality. Data-driven decision-making empowers the optimization of store layouts, personalized marketing campaigns, and loyalty programs, fostering deeper customer relationships.

Furthermore, Target nurtures a culture of entrepreneurship within its workforce. Employees are encouraged to propose innovative ideas to enhance the shopping experience or streamline processes. This approach cultivates a sense of ownership and collective responsibility for the company's success.

1 action the company could take to increase entrepreneurial value creation

Target could invest in technology-driven solutions such as augmented reality (AR) and virtual reality (VR) experiences to further enhance entrepreneurial value creation. By allowing customers to virtually "try on" clothing or visualize furniture in their living spaces, Target could offer an engaging and interactive shopping journey, bridging the gap between physical and online retail. This innovation would align with Target's commitment to a cutting-edge shopping experience and could attract tech-savvy customers.

References: 

admin. (2023, March 21). Target SWOT Analysis – The Strategy Story. THE STRATEGY STORY. https://thestrategystory.com/blog/target-swot-analysis/#:~:text=Analysis%20of%20Target.-

Repko, M. (2022, March 1). Target thinks it can keep growing sales — here’s how the retailer plans to do it. CNBC. https://www.cnbc.com/2022/03/01/how-target-plans-to-keep-growing-sales.html

Copyright 2020 by University of Phoenix. All rights reserved.

Copyright 2019 by University of Phoenix. All rights reserved.

image2.png

,

MGT/576 v1

Porter’s Five Forces

MGT/576 v1

Page 2 of 2

Porter’s Five Forces

Complete the table below For the company, you’ve decided to assess in week 1, determine the strength of each of Porter’s Five Forces and of the complementors. 

  Justify your determination with examples. 

Industry force 

Strength

Provide a justifying your determination with examples

High 

Medium 

Low 

Example

x

Threat of new entrants 

x

Target’s effective supply chain management, customer-centric approach, and diverse range of products create barriers to entry (admin,2023). Nonetheless, Target is open to new entrants and the e-commerce rise has depressed entry barriers. For instance, online-only competitors can enter the market easily.

Power of buyers 

x

Target focuses on offering an excellent shopping experience and uses a customer-centric method giving the customers significant power (admin,2023). With the option to shop online, and a variety of products available buyers have alternatives and can apply pressure on service and pricing quality. For, example, a customer can read product reviews online and compare prices before purchasing a product.

Power of suppliers 

x

The market presence and size of Target give it some influence over its suppliers. Target can negotiate prices and favorable terms due to its purchasing power (admin,2023). This purchasing power can result in better margins and low input costs for Target

Power of substitutes 

x

Substitutes for the services and products of Target company are readily obtainable in online and physical stores (admin,2023). Nonetheless, the capability of Target to offer excellent shopping experiences and diverse products through advanced store layout and its partnership with other brands can alleviate the peril of substitutes to some degree.

Rivalry among competitors 

x

Target is a highly competitive retail company with other highly competitive companies. The main purpose of its competitive practice is to compete for market share with other huge businesses. Due to its competitive nature, it faces rivalry from huge businesses like Amazon, and Walmart (Hughes,2023). This rivalry can result in price wars which might affect its productivity.

Complementors 

x

Complementors can affect the Target company greatly. For example, its partnership with other designers and private brands can improve its attractiveness (Repko,2022). Furthermore, the target emphasis on integrating digital displays and creating advanced store layouts relies on complements in the form of technology designers and producers.

References:

admin. (2023, March 21). Target SWOT Analysis – The Strategy Story. THE STRATEGY STORY. https://thestrategystory.com/blog/target-swot-analysis/#:~:text=Analysis%20of%20Target.-

Hughes, J. (2023, June 29). Target competitors analysis : 5 major competitors. Business Chronicler. https://businesschronicler.com/competitors/target-competitors-analysis/

Repko, M. (2022, March 1). Target thinks it can keep growing sales — here’s how the retailer plans to do it. CNBC. https://www.cnbc.com/2022/03/01/how-target-plans-to-keep-growing-sales.html

Copyright 2020 by University of Phoenix. All rights reserved.

Copyright 2020 by University of Phoenix. All rights reserved.

image1.png

,

International Management Review Vol. 8 No. 2 2012

83

Essay: Developing Global Leadership:

A review of barriers and adjustments for international expansion

David Burkus

Oral Roberts University, City and Country, USA

Global expansion brings with it many new challenges and opportunities for any organization. This article

outlines four barriers to global expansion (language, regulation, culture, and competition) and provides

leaders with organizational adjustments: organizations must develop executives with a global mindset and

cultural sensitivity; leaders must decide on the level of involvement and decentralize their structure to

empower local managers. These adjustments will better prepare an organization for going global.

It’s inevitable. Just as a growing hermit crab will eventually look for a new shell to grow into, as

organizations grow, many leaders will eventually look to other countries or continents to expand into.

However, often the method that brought success at home is not the same route that will ensure success

abroad. Fortunately, there’s help for leaders looking to help their organizations go global. This article will

outline common barriers to global expansion and suggest organizational adjustments leaders will need to

make. Leaders will need to develop an understanding of these barriers and adjustments in order to know

what to expect when they’re expanding.

Organizations expanding into new countries will likely find that “business as usual” will not operate

well in the new culture (McCall & Hollenbeck, 2002). The cultural differences among locals will create

several barriers that must be overcome for a successful expansion:

Language. McCall & Hollenbeck’s (2002) research on global executives found that learning the

language was often the largest barrier to working across cultures. Though English is the unofficial

language of international business, critical information can be lost in translation. Similarly,

negotiators who do not speak the local language can find themselves at a disadvantage.

Regulation. Differences in labor and consumer regulations can make doing business more difficult

in foreign countries (Black, Morrison, & Gregersen, 1999). For instance, emission regulations for

computer models are stricter in Europe than the United States; as a result, product lines may have to

be customized. Awareness of regulatory standards is vital in order to remain competitive with local

firms.

Culture. The cultural norms of interaction affect the way business transactions are made, even if all

parties interact in the same language. In the United States, many executives focus on doing business

first and letting personal relationships build as the business relationship does (Black, Morrison, &

Gregersen, 1999). In many cultures, this order is reversed. Knowledge of this and other cultural

differences can make interactions with local executives significantly less complicated.

Competitors. As companies enter new markets, they inevitably meet local competitors. These

competitors have knowledge of local markets that foreign companies may not. For example,

McDonald’s spent 13 months trying to sell beef hamburgers in India before an understanding of local

beliefs convinced them to use lamb (Rosen, Digh, Singer & Philips, 2000). Partnering with local

competitors or conducting extensive competitive analysis is vital for gaining this market knowledge.

These four barriers are not exhaustive, just common. When crossing cultures, organizational leaders

can expect to encounter barriers similar to the ones listed above and, in some cases, drastically

different ones.

Whatever barriers these leaders face, their first step is to prepare. Organizations increase their

chances of successful expansion by adjusting the way they operate. Several adjustments may need to be

made to prepare an executive or organization for going global:

Develop a global mindset. Executives preparing for expansion must develop a mindset that is open

and aware of cultural diversity yet can synthesize across this diversity (Gupta & Givindarajan, 2002).

Organizational leaders must be able to synthesize their companies global strategy with the needs of

the local organization and local market.

International Management Review Vol. 8 No. 2 2012

84

Develop sensitivity to cultural differences. Understanding how business is done within the local

culture is vital to getting business done. The ability to perceive and leverage the differences between

familiar and foreign cultures is called cultural literacy and is an important tool for competitive

advantage (Rosen, Digh, Singer, & Philips, 2000).

Decentralize. The executives with the best understanding of local cultures are the ones who are

native to that culture. Organizations may have to change their philosophy of management in order to

empower these executives to make decisions on the local level for the good of the global

organization (Rosen, Digh, Singer, & Philips, 2000).

Decide on the level of involvement. Before making any entry into a foreign market, organizational

leaders must first decide how involved they anticipate being. Galbraith (2000) outlines five levels of

entry companies can make into new markets: exportation, joint venture, foreign operation,

multidimensional network, and transnational operation. Exactly what level of involvement is desired

must be accounted for in a strategic plan.

These adjustments must be made during the process of preparing the organization and the selected

executives for expansion into the new culture. Global expansion brings with it many new challenges and

opportunities for any organization. Organizational leaders will likely encounter many barriers to entering

the new culture, including language, regulation, cultural differences, and new competitors. In order to

prepare for these new hurdles, leaders can prepare by making several adjustments to themselves and their

organization. Organizations should develop executives with a global mindset and cultural sensitivity.

Leaders need to decide on the level of involvement and decentralize their structure to empower local

managers. Regardless of how these adjustments are made, organizations will find they must be in order to

break from business as usual and successfully go global.

References Black, J. S., Morrison, A., & Gregersen, H. (1999). Global explorers: The next generation of

leaders. New York: Routledge.

Galbraith, J. R. (2000). Designing the global corporation. San Francisco: Jossey –Bass.

Gupta, A.K., & Govindarajan, V. (2002). Cultivating a global mindset. Academy of Management

Executive, 16(1), 116-126.

McCall, M., & Hollenbeck, G. (2002). Developing global executives: The lessons of

international experience. Boston: Harvard Business School Press.

Rosen, R., Digh, P., Singer, M., & Philips, C. (2000). Global literacies: Lessons on business leadership

and national cultures. New York: Simon and Schuster.

Copyright of International Management Review is the property of American Scholars Press and its content may

not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written

permission. However, users may print, download, or email articles for individual use.

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.

Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.

Do you need an answer to this or any other questions?