Business Management – Manager Memo – Due Fri 10/22 - Human Resource Management
Topic: Identifying Future Opportunities and Markets for Easy Chairs Format/Length: 2 pages | APA Format | MUST USE AT LEAST 2 COURSE RESOURCES  Due: 12 pm EST – Friday, October 22, 2021 Info: Please see the attached assignment details, case study, and course resources. Week 1 Brainstorming Discussions BEFORE STARTING: Review the requirements for the Brainstorming Discussions Brainstorming is a technique that seeks to collect a myriad of ideas about a problem to find a unique and often innovative way of handling the solution. It can also be a way of collecting information about a situation or produce feedback about a particular topic. Brainstorming works very simply with only three rules: No idea is too farfetched, all ideas are to be accepted by the group for consideration, and the ideas must focus on the topic presented for discussion not whether the idea will work or not. Obviously, many ideas will be discounted later on when constraints like budget or implementation impossibilities may block its consideration for successful implementation. However, for the purpose of this discussion focus only on suggesting ideas from the class material and research which will answer the topic under discussion. What does it mean to be a manager today? Assignment: Identifying future opportunities and markets for Easy Chairs In the past year and a half, Dwight and Ike have expanded Easy Chairs (EC) into the Asian Marketplace and increased their online presence to be more globally appealing. They have also sought to keep manufacturing in the USA. Concerns that Dwight and Ike have about opening manufacturing operations abroad stem from their fear that the quality of the products they make will be lesser than those produced in the US, the culture clash may be too hard to overcome, and that the business will become too large. It is also part of their culture to employ wounded US veterans first. This may be hard to accomplish abroad. Additionally, EC is a small family firm and expanding abroad would make it hard for managers and leaders to keep that I belong feel that family embodies. Dwight and Ike want your thoughts on the subject of expanding manufacturing operations abroad. They would like to get fresh ideas on the subject. Using a memo format, create a no more than 2-page memo with an answer which considers the following: Use the following template for your memo: Memo Format Directions: 1. By FRIDAY, complete the following: o Using the memo template prepare a 2-page memo to Dwight and Ike on the subject of manufacturing abroad, including:  The future of the business environment, technology, and market opportunities for ECs products.  (Topics to discuss: cities vs. rural, where are they likely to be popular? What countries have employees who can work the https://learn.umgc.edu/d2l/le/617194/discussions/topics/3444518/View https://learn.umgc.edu/d2l/common/dialogs/quickLink/quickLink.d2l?ou=617194&type=coursefile&fileId=Brainstorming+Discussions.html https://learn.umgc.edu/d2l/common/dialogs/quickLink/quickLink.d2l?ou=617194&type=content&rcode=UMUC-5268175 https://www.instructionalsolutions.com/blog/memo-format https://www.instructionalsolutions.com/blog/memo-format machines? Education? Cost of Living? Language etc. wealth distribution) The class material is a good place to start but research online will enhance the answer.  Advantages and disadvantages of manufacturing abroad.  The role of managers and leaders in business today.  Support the response with facts, figures, and expert opinions. Dwight and Ike like to see you have done your homework.  Use course material to support your responses and APA in-text citations with a reference list. 2. THROUGHOUT THE WEEK, complete the following: o Respond to your classmates three or more days throughout the week. Remember you are trying to develop the best answers to the questions as possible. Your classmates are doing the same so read the posts carefully looking for the best ideas being presented. The goal is that by the end of the week the class will come to some consensus as to the best answers giving you the chance to submit the best ideas in the final post. o You must use course material to support your responses, but you do not need to use APA in the brainstorming discussion with the exception of Fridays initial first impression post. o Participation is worth 2.5 points each week (20\% of the final grade). Participation must be reflected in the final post so grades will be affected by the content portion of the post if participation is not shown. Therefore, it is important to get in the class often and with the idea of improving your initial post with the discussion so that the final grade will be the best you can deliver. Additional Requirements and How to Prepare the Weekly Attachment Submission • Follow the instructions carefully if the assignment asks for a memo, email, plan, report, etc. be sure to follow the format templates provided. o Submissions should be in proper business writing form. • APA formatting with in-text citations and a reference list is required. • Review the grading rubric for the assignment. • Carefully read all of the instructions to make sure all elements of the assignment have been covered. • Third-person writing is required. Third person means that there are no words such as I, me, my, we, or us (first-person writing), nor is there use of you or your (second-person writing). If uncertain how to write in the third person, view this link. • Contractions are not used in business writing, so the expectation is that students do not use contractions in assignments. • Paraphrase and do not use direct quotes. This means you do not use more than four consecutive words from a source document; put a passage from a source https://www.quickanddirtytips.com/education/grammar/first-second-and-third-person document into your own words and attribute the passage to the source document. Provide the page or paragraph number. Note that a reference within a reference list cannot exist without an associated in-text citation and vice versa. • Do not use books as source material. • Use a variety as well as multiple course readings and research to support ideas, reasoning, and conclusions. • Submit the final project into the appropriate assignment submission folder. Once submitted, the project is eligible for grading and students will not be permitted to make changes or make another submission. NOTE: All submitted work is to be your original work. You may not use any work from another student, the Internet or an online clearinghouse. You are expected to understand the Academic Dishonesty and Plagiarism Policy and know that it is your responsibility to learn about instructor and general academic expectations with regard to proper citation of sources as specified in the APA Publication Manual, 7th Ed. (Students are held accountable for in-text citations and an associated reference list only). Week 1 Brainstorming Discussions Grading Rubric - Brainstorming Discussions Criteria Excellent Good Developing Needs Improvement Failing Point Value 0.5 0.42 0.37 0.32 0 Participation Content: Initial Post and additional initial posts addresses the assignment for the week. Initial Post demonstrates application of the week’s material to the assignment by presenting comprehensive answers to all subjects. Accurate APA usage of multiple sources and supporting conclusions are insightful. (0.45 - 0.50) Initial Post demonstrates application of the week’s material to the assignment with complete answers to most subjects. Accurate APA use of at least three sources supporting strong conclusions. (0.40 - 0.44) Does required work identified in Good criterion, but does not post by the due date, and/or support for some content is underdeveloped. Uses less than three sources. APA has minor errors. Conclusi ons drawn are broad and therefore general in nature. (0.35 - 0.39) Completes some required work identified in the Good criteria, but does not post by the due date, content shows minimal development of the material. Sources are not used to support statements or major errors in APA are present. (0.30 - 0.34) Posts no assignment or makes minimal attempt at posts. (0 - 0.29) Point Value 1.5 1.27 1.02 0.97 0 Participatio n Content: Follow-up Postings address classmates over three or more days during the week Follow-up Postings three days or more, address a classmate’s work by exchanging innovative ideas that build upon the concepts for the week. Posts are insightful and analyze the responses of others to include support from the course material. (1.35 - 1.5) Postings made at least three days; most posts address a classmate’s work by exchanging innovative ideas that build upon the concepts for the week. Most but not all posts analyze the responses of others or lack some support from the course material. (1.20 - 1.34) Does required work identified in Good criteria, but answers only two days and/or support for some content is underdeveloped. Analysis of classmates’ posts while adequate, does not contribute with enough support from the course material. (1.05 - 1.19) Completes some required work identified in the Good criteria, but posts only one day, content shows minimal development of the material. Analysis of classmates’ posts does not provide support from the course material (0.90 - 1.04) Posts no assignment or makes minimal attempt at posts. (0 - 0.89) Points 0.5 0.42 0.37 0.32 0 Presentatio n Contributes to discussion with clear and concise comments that is style appropriate, rich in vocabulary and free of grammatical & spelling errors. (0.45 - 0.50) Contributes to discussion with understandable comments but style and vocabulary is at time inconsistent or imprecise, and/or has minor writing errors. (0.40 - 0.44) Contributes to discussion with errors in clarity, style, vocabulary selection, and/or many writing errors. (0.35 - 0.39) No evidence of proofreading or attempt at applying conventional wri ting mechanics, style or vocabulary. (0.30 - 0.34) Little to no use of the usual writing mechanics. (0 - 0.29) Final Post Excellent Good Developing Needs Improvement Failing Points 2.5 2.12 1.81 1.52 0 Content: All Assignmen t elements found in the instructions are addressed using the class material, case study facts, research and brainstormi ng ideas gathered from the class discussions Final Post addresses all the elements of the instructions with a highly accomplished level of analysis, synthesis, evaluation and reasoning skills of the case material, case study facts, research, and class discussions resulting in accurate, insightful, thorough, and soundly reasoned conclusions. (2.25 - 2.5) Post addresses all elements of the assignment, demonstrating an above average competency of analysis, synthesis, evaluation and reasoning skills. The use of case material, case study facts and class discussions resulted in accurately reasoned conclusions but underdeveloped in 1-2 elements. (2.0 - 2.24) Post addresses most elements. Comments reflect a satisfactory level of analysis, synthesis, evaluation and reasoning of the case material, case study facts and class discussion resulting in partially correct conclusions that lack development or detail that into an understanding of the reasoning (1.75 - 1.99) Post fails to address all elements of the assignment and or presents an unsatisfactory level of analysis, synthesis, evaluation and reasoning of the case material, case study facts, class discussion resulting in conclusions that are underdeveloped or lack soundly reasoned conclusions. (1.5 - 1.74) Post addresses little to none of the elements in the assignment, conclusions drawn showed poor analysis, synthesis, evaluation and reasoning of the case material, case study facts, class discussion resulting in conclusions that are underdevelope d or lack soundly reasoned conclusions. OR No content was addressed. (0 - 1.49) Points 2.5 2.12 1.81 1.52 0 Applicatio n of Concepts Presents exceptionally we ll-supported arguments or positions with evidence from the readings/experie nce; ideas go beyond the course material case study facts and class discussion recognize implications and extensions of the material and concepts. Consensus points from class brainstormi ng were evident. (2.25 - 2.5) Presents excellent arguments or positions that are mostly supported by evidence from the readings and course content and class discussion, case study facts; ideas presented demonstrate understanding of the material and concepts. Consensus points from class brainstorm ing were mostly evident. (2.0 - 2.24) Satisfactory arguments or positions are presented but there is a mix of opinion or unclear view with supported arguments using course readings and class discussion. Cas e study facts are occasionally used but arguments would be much stronger with use of facts or points obtained through class consensus. (1.75 - 1.99) Arguments are frequently illogical and unsubstantiated; Limited use of facts in case study and essential information presented in course readings. No use of class brainstorming conclusions (1.5 - 1.74) Arguments lack meaningful explanation or support of ideas. Does not provide facts presented in case study. (0 - 1.49) Points 1 0.85 0.75 0.65 0 Attention to Instruction s Demonstrates exceptional understanding of requirements responding completely to each aspect of assignment including minor aspects of the assignment such as using third person writing, required use of course readings, and assignment format. (0.9 - 1.0) Demonstrates excellent understanding of requirements; missed one minor aspect of assignment (0.80 - 0.89) Demonstrates satisfactory understanding of requirements; missed a key element or two minor aspects of assignment. (0.70 - 0.79) Fails to show a firm understanding of requirements; missed two key elements or several minor aspects of assignment. (0.60 - 0.69) Fails to show a firm understanding of requirements; missed two key elements or several minor aspects of assignment. (0 - 0.59) Points 1 0.85 0.75 0.65 0 Writing Mechanics Strictly adheres to standard usage rules of written English, including but not limited to capitalization, punctuation, run- on sentences, missing or extra words, stylistic errors, spelling and grammatical errors. No errors found. No contractions or jargon used (0.9 - 1.0) Excellently adheres to standard usage of mechanics: conventions of written English, including capitalization, punctuation, and spelling. One to three errors found. (0.80 - 0.89) Satisfactorily adheres to standard usage rules of mechanics: conventions of English, including capitalization, punctuation, and spelling. Four to 10 errors found. (0.70 - 0.79) Minimally adheres to standard usage rules of mechanics: conventions of written English, including capitalization, punctuation, and spelling. More than 10 errors found. (0.60 - 0.69) Does not adhere to standard usage rules of mechanics: conventions of written English largely incomprehensi ble; or errors are too plentiful to count. (0 - 0.59) Points 0.5 0.42 0.37 0.32 0 APA No APA style or usage errors; Proper citation of source material is used throughout paper; Reference titles follow APA with only the first word, the first word after a colon and proper nouns capitalized. (0.45 - 0.50) Attempts in-text citations and reference list but one or two APA style errors noted or fails to use APA citations when appropriate 1-2 times. (0.40 - 0.44) Attempts in-text citations and reference lists; APA style errors are noted throughout document; Fails to use APA citations when appropriate 3 times in document. (0.35 - 0.39) Attempts in-text citations and reference lists; Fails to use APA citation when appropriate 4-5 times; or presents only 1-2 in-text citations and reference list in a paper that requires APA citations throughout the document. (0.30 - 0.34) No attempt at APA style; or attempts either in-text citations or reference list but omits the other. (0 - 0.29) Overall Score Excellent Good Developing Needs Improvement Failing Points 9 or more 8 or more 7 or more 6 or more 0 or more Weekly Brainstorming Projects Easy Chairs Training Program The Leaders of Easy Chairs (EC), Dwight Rickenbacker and Ike Omar, have decided that they want to customize their management training program to fit the company both stateside, abroad and online. They have tasked your group, BMGT 485 Class Consulting Firm, to create a program that features the top ten skills they believe an Easy Chairs manager should possess in a contemporary business arena. Rickenbacker and Omar are confident that if their managers have these skills the company will profit immensely. Dwight, who is guiding this project, has given you a course outline, the list of skills, and course material he believes will enhance the managerial candidates in their training. He has also given you some of the most common examples of the skill in action so that he can see those candidates that apply the skill well and those who need improvement. He wants your firm to develop the best answers to these scenarios and present them to him for evaluation. This way he can determine if the candidates are a good fit for EC and where he can help them to improve going forward. Dwight envisions the program class to work as follows: Each week the firm will be given a small project, case study or activity to complete that relates to one of the skills he deems important to company success. The firm, and you as a member, will brainstorm the activity answer discussing as a team the best way the manager can employ the skill to complete the activity. By 11:59 on Tuesday ET of each week, you will each submit a final post with an attachment that summarizes the best answer you have concluded from your evaluation of the team discussion and the course material provided by Dwight. In addition to the skill activities, the firm has created two quizzes for additional individual assessments. The team leader of the firm has decided that the firms best use of time would be for him/her to create the quizzes for you to take. (As a plus this will also help the team leader to know BMGT485 staff’s managerial skill set better.) Quiz 1 is taken in Week 2 - Communication Quiz Quiz 2 is taken in Week 4 - SWOT Quiz To help the firm better Dwight has supplied a corporate history of Easy Chairs. Company History Dwight Rickenbacker and Ike Omar were two American Army Veterans who wanted to make a difference for their fellow wounded veterans. They decided that they wanted to make semi- customized wheelchairs. After researching the idea, the two vets agreed that they were going to do something unique with the wheelchairs. Dwight and Ike decided to make the wheelchairs with 3-D printing with easily replaceable parts so repairs could be done by someone with basic mechanical skills. They also agreed that they would only hire veterans as employees. Dwight and Ike started their business, ECs five years ago in Birmingham, Alabama. Since then, the business has grown exponentially. Last year gross sales were over $7 million and was projected that the business will reach $9 million by the end of next year. A significant part of Easy Chairs success has been through Internet sales. The company website is geared to the American market. The average cost of a non-motorized chair is $59.00, half of the cost of a simple product found at Walmart. The battery-operated models average between $500 and $600, almost a quarter of the traditionally produced models. Prices for parts for the chairs are varied but the most expensive part is the battery for the mobile units, which is priced at one-fifteenth the price of an average battery. The company can customize colors, add oxygen container carriers and other features that improve the wheelchair-bound person’s life for minimal cost because their computer program allows the chair to be designed to each person’s specifications before manufacturing. Last year, Rickenbacker decided to sell their products overseas both via the internet and through licensed distributors. Currently, they have agreements with distributors in Japan and South Korea. They hope to expand more abroad and are considering adding manufacturing operations abroad as well. risk.03.jpg FORTUNE Magazine Managing in chaos The great challenge of our era? Get companies to change quickly enough to survive a world thats crazier and riskier than ever. By Geoffrey Colvin, Fortune senior editor-at-large September 19 2006: 9:25 AM EDT (Fortune Magazine) -- Bill Ford finally joined the club just before Labor Day weekend. Thats when he became the latest chief executive of a giant corporation to cop publicly to the most fundamental and alarming of business problems: His business model doesnt work anymore. He did it in an e-mail to all of Ford Motors employees, saying, The business model that sustained us for decades is no longer sufficient to sustain profitability. Give him high marks for candor, because in corporate life, desperation doesnt get much more naked than that. The chief of one of the worlds most storied companies, No. 5 on the Fortune 500, is telling the world that the firms way of doing business doesnt make money, and he doesnt even know what the new way of doing business should be. And hes not alone. Fords lament is the signature cry of our age. Across sectors--retailing, brokerage, software, publishing, computers-- business models that produced profits for decades have shut down. In most cases managers arent sure what the new model will be, but theyre absolutely certain it wont have a multidecade lifespan. The trend seems to be accelerating. Besides Fords (Charts) admission recent weeks saw Viacom (Charts) chief Sumner Redstone abruptly fire CEO Tom Freston, complaining that he hadnt done enough to build a new Net-based business model. Intel (Charts) one of the worlds great adapters, announced it was firing 10,500 people. Even Dell (Charts) is having trouble with its formidable direct-selling model, one of the most successful of the past 20 years. How often does a model have to change in todays world? Until recently, very few companies have had to change ... every three to four years, but now many of them do, says Adrian Slywotzky of Mercer Management Consulting, co-author of business bestsellers The Profit Zone and How to Grow When Markets Dont. Every eight to ten years-- thats heaven today. Greater risk From inside a company, todays world is a maelstrom of changing markets, technologies, customers, and products that are whirling so fast they just cant be ordered in a managers mind. Look at Standard & Poors ratings of equity risks, which range from A+ for the least risky companies to D for bankrupt ones. In 1985 about 41\% of companies earned the least risky ratings, while 35\% were in the high-risk grouping. By 2006 only 13\% were highly rated, and 73\% were high-risk. Thats what economists call a secular shift--a big, broad increase in uncertainty and volatility. https://archive.fortune.com/magazines/fortune mailto:[email protected] https://archive.fortune.com/quote/quote.html?symb=F https://archive.fortune.com/quote/chart/chart.html?symb=F https://archive.fortune.com/quote/quote.html?symb=VIA https://archive.fortune.com/quote/chart/chart.html?symb=VIA https://archive.fortune.com/quote/quote.html?symb=INTC https://archive.fortune.com/quote/chart/chart.html?symb=INTC https://archive.fortune.com/quote/quote.html?symb=DELL https://archive.fortune.com/quote/chart/chart.html?symb=DELL Rethink Your Business Business models live shorter lives these days, but there are ways to get comfortable with chaos. A sampler: Tough talk Force a conversation on how the company will have to operate differently to be successful two years from now. Otherwise everyone dwells on todays successful products. Yellow flags Pay close attention to what your sharpest, most mobile customers are doing. Theyre your early warning of business-model problems. Remodel early high_wire_act.gifThe pressure on CEOs and boards is palpable--and executive turnover is on the rise. When Jim McNerny moved over to run Boeing (Charts) last year, the previous firm he ran, 3M (Charts), had to scramble for a replacement; new Ford CEO Alan Mulally departed from Boeings largest business, returning the favor. Frestons firing has sparked rumors about Brad Greys future at Viacom subsidiary Paramount. From Heinz, where investor Nelson Peltz is rattling cages, to Big Pharma, where Merck, Pfizer, and most recently Bristol Myers Squibb have seen a changing of the guard, to Dell, where CEO Kevin Rollins is feeling the heat from recent troubles, no one, it seems, is immune. Managing amid the chaos has become the central problem for companies of every kind. It is a predicament that arises from the very nature of todays economy. And the solution requires a retraining not of skills but of mindset and assumptions. The biggest challenge has less to do with corporate strategy or management structures than with the nature of human beings and our instinctive reactions to change. Rocking the foundation Firms that have found ways to survive and thrive in the chaos hold valuable lessons. Paradoxically, many are meeting chaos with chaos, loosening controls, sometimes radically, while guiding the company in innovative ways. Yet even those efforts may lose their effectiveness over time. Todays fast-moving reality may force a rethinking of just how long companies can and should survive. Skeptical about how large a change were experiencing? Is the business world truly rocking on its foundations? The hard fact: We are going through a transition that will interest historians centuries from now. Its partly a result of globalization, partly the digital revolution and the information-based economy it spawns. By freeing companies from physical assets, it has made them both more flexible and more vulnerable to competitors. Microsoft can get into and out of many businesses--Internet search, online advertising, mapping, electronic payment--at virtually a moments notice, but so can anybody else. (Indeed, Microsoft itself is now being disrupted by Net-based competitors like Yahoo and Google.) The pattern is old hat by now, yet we still see companies of every kind totally blind-sided by competitors they never saw coming. eBay and its PayPal unit are disrupting credit cards; Google is now trying to disrupt PayPal as well as the whole ad-sales industry. YouTube is disrupting television, and MySpace may next disrupt music, though if youre reading this online in 2008 youre probably laughing, because someone else has undoubtedly disrupted YouTube and MySpace, those Net phenoms of yore. https://archive.fortune.com/quote/quote.html?symb=BA https://archive.fortune.com/quote/chart/chart.html?symb=BA https://archive.fortune.com/quote/quote.html?symb=MMM https://archive.fortune.com/quote/chart/chart.html?symb=MMM Start changing your business model when youre most successful. When youre in trouble, its too late. Abandon yesterday Maintaining what no longer works draws your most valuable resources away from your No. 1 job, creating tomorrow. A new, improved story line Explain the companys changes within a larger context. Employees, investors, customers, and suppliers are more comfortable with change when its presented as part of a story line. The digital revolution also makes business more chaotic by shifting information and power toward customers. And it changes products in every industry, new or old. Todays cars are essentially computers on wheels. Some credit cards have chips in them. Some greeting cards have chips in them. Guess what some duck calls have in them? Now, what did the makers of any of those things know about computer chips? Nothing, yet their industries may be transformed by them, and more industries will be transformed every day as the costs of computing power, telecommunications, and data storage continue to plunge. So the forecast for most companies is continued chaos with a chance of disaster. The challenge is getting comfortable with it--especially hard because modern corporations were created explicitly to resist chaos. The idea was to create structure and rules to resist the forces buffeting the business, says David Nadler, a Mercer Delta consultant with long experience counseling organizations on change. It was great for an era when companies might change every 30 years or more. But what used to be an asset is now a liability. Recipe for internal war Companies that prosper in this frightening environment do so in many ways. Some managers figure a radically changed business world calls for a radically restructured company. The most extreme example of meeting chaos with chaos is probably Semco, the celebrated Brazilian outfit where there are virtually no job titles, a few executives trade the CEO role every six months, and workers set their own hours and choose their managers by vote. Maybe your firm cant do all those things (though it might be useful to ask yourself, Why exactly not?), but decentralization and an anti-control ethos seem to characterize a growing number of successful businesses. No one at W.L. Gore has a job title, to take an example from Fortunes latest list of Americas 100 Best Companies to Work For. Another: Any employee of Whole Foods Market can look up anyone elses salary, which sounds like a recipe for internal war. Conventional wisdom says such policies will massively distract an organization, yet in a fast-changing world they seem to have the opposite effect. Former Royal Dutch Shell exec Arie de Geus studied the worlds longest-lived companies and concluded that surviving was all about letting things happen in the margin: allowing activities outside the core business to be set up by not coming down like a ton of bricks on every diversion in which local people seem to believe fervently. Starting up a company with this mentality--which is the way W.L. Gore and Whole Foods began--is a lot simpler than injecting it into an existing enterprise. Consultant David Nadler recalls working with AT&T back when it first began to realize the challenges it faced in a deregulated digital world. Executives told me they wanted their people to be entrepreneurs and risk takers, he says. I told them, Guess what? People like that dont go to work for the phone company. His conclusion: AT&T should have started changing its DNA years earlier. Gene therapy Which brings us to the central issue. Companies arent really structures or machines or collections of assets. Theyre groups of people. And while business seems to change at the speed of light, humans in groups havent changed much in 10,000 years. The most intractable problems of managing in chaos arent those of structuring the organization or identifying the right model for the future. They are the utterly human problems of getting people in groups to behave in new ways. Some of the reasons are familiar. All change creates winners and losers in an organization, and the caveman part of our brains is still wired to defend against loss above all. So people almost always resist change. An even more profound problem in companies that make changes: saying goodbye. The late Peter Drucker identified the key management challenge of the 21st century as leading change, and he believed the most important policy for doing that was to abandon yesterday. By yesterday he meant whatever no longer works. Yet abandoning yesterday is excruciatingly difficult. Yesterday is comfortable, and the fact that it used to work inspires hope that it will again. By contrast, trying anything new will always produce problems. So companies nurture yesterday far too long. Whats especially insidious, Drucker observed, is that maintaining yesterday is difficult and time- consuming and therefore always commits the institutions scarcest and most valuable resources-- and above all, its ablest people--to nonresults. Which means theyre not available to create tomorrow. Yet it isnt hopeless; companies can manage this critical job. One of the greatest examples is still Intels brave decision long ago to bail out of dynamic random access memory, the product on which it built its early success. More recently, Thomson Financial abandoned newspapers, which had once made it successful, reasoning that newspapers were the past in the Digital Age. Against that background, its impossible to avoid an upsetting thought: companies will start dying younger. Look at the firms that just disappeared: the old AT&T, Gillette, May Department Stores, all absorbed into other firms. If technologies, products, jobs, and business models are all appearing and disappearing faster than ever, how could companies be any different? Weve fully accepted the idea that most jobs dont last long, though that was a traumatic notion 20 years ago. Its time to face a similar reality about companies. In a world where business models change every three or four years, maybe its foolish to think a company should survive for a century. Perhaps many industries will conduct themselves on the Hollywood model: the right mix of people come together for a few months or a few years and move on. The world of private-equity companies works on this basis today. The idea that our great business institutions may live shorter lives neednt be troubling. With change happening more quickly, businesses that arise and disappear more quickly than they used to could be the best means of serving customers, investors, and employees. If were in a truly revolutionary business age, it would be crazy to think that more radical change isnt coming. The challenge: finding the will to embrace it. Fords new model: Does CEO Mulally have a prayer?  T From the October 2, 2006 issue https://archive.fortune.com/2006/09/18/magazines/fortune/fords_newmodel.fortune/index.htm https://archive.fortune.com/magazines/fortune/fortune_archive/2006/10/02/toc.html  October 21, 2013 The Difference Between Influence and Leadership Share With Friends Entire industries have developed around the exertion of influence.     https://stephenrgraves.com/#facebook https://stephenrgraves.com/#linkedin https://stephenrgraves.com/#twitter https://stephenrgraves.com/#email https://stephenrgraves.com/#print https://www.addtoany.com/share#url=https\%3A\%2F\%2Fstephenrgraves.com\%2Farticles\%2Fread\%2Fthe-difference-between-influence-and-leadership\%2F&title=The\%20Difference\%20Between\%20Influence\%20and\%20Leadership https://stephenrgraves.com/ The lobbying industry tries to influence the government. Advertisers persuade consumers to spend their money on certain products or services. Politicians employ nationwide telemarketing campaigns to sway last-minute voters. Parents attend seminars aimed at influencing the way they influence their children. Business analysts do market research and hire focus groups to study what is influencing the customer. Doctoral students examine the hidden factors behind change in education, sociology, history, and many other fields. It’s all influence. Dictionary definitions of influence include “a power indirectly or intangibly affecting a person or course of events,” and the more vague “to cause a change in the character, thought, or action of; to have an effect upon.” I also ran across this one—“an occult ethereal fluid believed to flow from the stars and to affect the fate of men.” I like that last one—influence is someone affecting us and we’re not exactly sure how. Let me define it another way, though. Influence is a person’s ability to shape people and mold outcomes. Influence is morally neutral (can be used for good or evil), but it always involves both relationships and results. Difference Between Leadership and Influence So is influence just a fancy term for leadership? No. We often put the two together, but they are two separate entities. Sure, you have the Abraham Lincolns of the world who are influential leaders.  But for every Abraham Lincoln, you have a Vincent van Gogh, Franz Schubert, and Karl Marx—people of massive influence who had no leadership position and even died in obscurity. Summary: You can influence without being a leader, and you can lead without influencing, but you can’t be a good leader without influencing. Leadership comes from a title whereas influence does not depend on education, position, or financial situation. Here are some other distinctions between the two: Leadership is visible; influence is out of sight Leadership is usually conscious; influence is often unconscious Leadership is contained; influence crosses boundaries Leadership is immediate; influence is long- term Leadership is public; influence is often behind the scenes Leadership is formulaic; influence is mysterious Leadership captivates culture; influence drives culture Leadership is the tip of the iceberg; influence is the mass under the surface Leaders act on people; influence affects people and outcomes   Harvard Business Review spotlighted influence and leadership this summer. In “Connect, Then Lead,” Amy Cuddy and two others identify the importance of influence over leadership. Leadership rises from authority, but influence is born of connection. If people feel connected, they open themselves up to the influence of others. http://hbr.org/2013/07/connect-then-lead/ To influence, you begin with connection. You connect with people and begin to affect their actions. Conclusion I draw a dotted line between leadership and influence because there is a lot of overlap between these two words. More and more people are recognizing that leaders can wield tremendous influence but that it is only potential. The best leaders strive not for leadership (which is given to them) but for influence (which is earned). Ken Blanchard wrote, “The key to successful leadership today is influence, not authority.” Michael Hyatt says, “Aspiring leaders would do well to stop focusing on control and figure out how to expand their influence.” John Maxwell puts it plainly— “Leadership is influence.” In this article, Joseph Grenny describes ways four keys to influential leadership. I love what he says about Tim Tassopoulos, the SVP of Operations of Chick-fil-A. “Tim…understands that success comes down to whether one of his 50,000 front-line associates with a few discretionary minutes decides to lean against a wall or clean tables. Tim’s success or failure as a leader does not come down to http://www.forbes.com/sites/josephgrenny/2012/12/10/four-reasons-why-leaders-lack-influence/ Subscribe to Steves Free Weekly Articles DON’T WORRY. WE WON’T EVER GIVE AWAY YOUR EMAIL. Email Address SIGN UP whether he is charismatic, visionary, or inspirational but to whether people behave in ways that improve results. Period.” Influence is about people and results. Let me put it this way: Leadership and influence are both needed, but influence is bigger, deeper, and a more difficult skill to cultivate than stereotypical leadership.  And if I had to choose between whether I could exert leadership or influence, I’d pick influence every time. Share With Friends  October 21, 2013  Steve Graves  Leadership Development https://www.facebook.com/StephenRGraves http://www.linkedin.com/in/stephenrgraves https://twitter.com/stephenrgraves https://stephenrgraves.com/#facebook https://stephenrgraves.com/#linkedin https://stephenrgraves.com/#twitter https://stephenrgraves.com/#email https://www.addtoany.com/share#url=https\%3A\%2F\%2Fstephenrgraves.com\%2Farticles\%2Fread\%2Fthe-difference-between-influence-and-leadership\%2F&title=The\%20Difference\%20Between\%20Influence\%20and\%20Leadership https://stephenrgraves.com/articles/read/author/smackadmin/ https://stephenrgraves.com/category/leadership-development/ © 2018 | Steve Graves Leadership Successful Organizations Need Leaders At All Levels Mar 23, 2014, 04:48pm EDT Roger Trapp Contributor Anybody who has ever watched interviews with managers or coaches of professional sports teams will have heard plenty of discussion of the need for leaders throughout the team. The same thinking is also increasingly a preoccupation of business people. Indeed, the need for “leaders at all levels” is one of the 12 critical issues identified in the Global Human Capital Trends 2014 survey published earlier this month by Deloitte University Press, the publishing arm of the professional services firm’s leadership center. In a paper examining the findings, Adam Canwell, Vishalli Dongrie, Neil Neveras and Heather Stockton – who work for Deloitte in a range of locations – point out that leadership “remains the No. 1 talent issue facing organizations around the world,” with 86\% of respondents to the survey rating it “urgent” or “important.” However, the fact that only 13\% say they do an excellent job of developing leaders at all levels means that this area has the largest “readiness gap” in the survey. https://www.forbes.com/leadership https://www.forbes.com/sites/rogertrapp/ https://www.forbes.com/sites/rogertrapp/ http://www.forbes.com/leaders/ Finding good leaders has, of course, always been a crucial issue for all sorts of organizations. This is why the armed forces, for instance, put so much effort into training their officers and why business schools and other providers of executive development have thrived. But the Deloitte team argues that “21 -century leadership is different”. Canwell and his colleagues write: “Companies face new leadership challenges, including developing Millenials and multiple generations of leaders, meeting the demand for leaders with global fluency and flexibility, building the ability to innovate Your Weekly Guide To The World Of Venture Capital with Alex Konrad and Becca Szkutak Featuring exclusive insights from the Midas List community on the startups and funds you need to know. Try the first three-weeks for free ($14.99 per month thereafter). No credit card required today. You may opt out any time. Terms and Conditions and Privacy Policy Enter e-mail address Sign Up st https://www.forbes.com/terms-and-conditions/?_ptid=\%7Bjcx\%7DH4sIAAAAAAAAAFWQ0W6CMBSG36XXzlC0YLnTqcui0c0ZJt7VcgaF2lYoYrLs3Vec2-K5O_m-Pyfn_0RMpChCSeF_bKrHF9OgHjIsg1hA-9yRUrcBO9hTKdMi1yV1HC4GKgGKw9WY7dYJ2ZHBNFj6d3R2Ad5YodVVwyNvdABPWv3gufEbHoZZPjQ0z9SJaCGrgpd3-TH_C9e5brdwNJJZeF_tQ7rcrLzFfo4H2EVyVv9CFNmqgR6yt_2aXm_pPJlMpvs4eUL_LGaVYMrelHi4fPMT-jpcJM7h7GiYyFSNItVI2UNnUYsf9fzQdTJKdeE-SE1eZM4XpnvR8_o46GNC-z7pumhqqMYZKOtg2vLutpUowoGPCQnpgHx9A0J4cQqBAQAA https://www.forbes.com/privacy/english?_ptid=\%7Bjcx\%7DH4sIAAAAAAAAAFWQ0W6CMBSG36XXzlC0YLnTqcui0c0ZJt7VcgaF2lYoYrLs3Vec2-K5O_m-Pyfn_0RMpChCSeF_bKrHF9OgHjIsg1hA-9yRUrcBO9hTKdMi1yV1HC4GKgGKw9WY7dYJ2ZHBNFj6d3R2Ad5YodVVwyNvdABPWv3gufEbHoZZPjQ0z9SJaCGrgpd3-TH_C9e5brdwNJJZeF_tQ7rcrLzFfo4H2EVyVv9CFNmqgR6yt_2aXm_pPJlMpvs4eUL_LGaVYMrelHi4fPMT-jpcJM7h7GiYyFSNItVI2UNnUYsf9fzQdTJKdeE-SE1eZM4XpnvR8_o46GNC-z7pumhqqMYZKOtg2vLutpUowoGPCQnpgHx9A0J4cQqBAQAA and inspire others to perform, and acquiring new levels of understanding of rapidly changing technologies and new disciplines and fields.” No wonder organizations are coming up short. Almost inevitably, the problem is felt to be especially acute today. This is a result of the strengthening of the global recovery, the desire on the part of the companies to expand in new markets and the growing numbers of older leaders choosing to retire. A key part of the solution identified by the Deloitte team is for organizations to develop leadership pipelines at every level. At present, it says, companies are not only not developing enough leaders, they are also not equipping those they are creating with the critical capabilities and skills they need to succeed. “Today’s market environment places a premium on speed, flexibility and the ability to lead in uncertain situations. At the same time, the flattening of organizations has created an explosion in demand for leadership skills at every level.” It appears that there is no avoiding spending money when it comes to dealing with this situation. The best performing companies already spend thousands of dollars each year developing each would-be leader on their staff, with the figure for senior leaders in the tens of thousands of dollars. Creating strong leadership programs for leaders at all levels – as advocated – requires sustained and substantial investment. At the early stages in the leadership pipeline, potential leaders need to acquire core skills in supervision and management, with frequent assignments to build on this base. Later on, they need to understand all the business functions before becoming executives, when business and product strategy will be central, along with experience of driving change within large teams. Companies need to understand that there are no shortcuts to building broad and deep leadership teams. New leaders typically need 18 months before feeling fully comfortable in a new role, while for those in the mid-level the period is more likely to be two to three years. The paper also calls for companies to be more flexible in terms of leadership paths. Some leaders will move into senior roles relatively quickly because of a particular situation, while others will develop more slowly. Above all, though, organizations need to realize that developing leaders amounts to more than having a selection of training programs. “Senior executives should create a culture that broadens the opportunity for leaders to develop in new ways,” writes the Deloitte team. “This means putting potential leaders in positions that stretch them beyond their current skill sets, and continuously coaching and supporting leaders so they can build their capabilities as rapidly as possible.” This is increasingly well recognised, say the authors, but it is “simply not widely adopted and practiced”. Where should companies begin? A few starting points include: But there is no time to delay. The best-performing organizations are already on their way. Also on Forbes: Engaging top executives to develop leadership strategy and actively govern leadership development. Aligning leadership strategies and development with evolving business goals Focusing on three aspects of developing leaders – developing leaders at all levels, developing global leaders locally and developing a succession mindset Implementing an effective – and unique – leadership program. Gallery: What It Takes To Retain Your Top Talent 11 images http://www.forbes.com/pictures/flem45ehe/what-it-takes-to-retain-your-top-talent/ http://www.forbes.com/pictures/flem45ehe/what-it-takes-to-retain-your-top-talent/ http://www.forbes.com/pictures/flem45ehe/what-it-takes-to-retain-your-top-talent/ Roger Trapp Follow I am a U.K.-based journalist with a longstanding interest in management. In a career dating back to the days before newsroom computers I have covered everything from…  Read More View gallery ADVERTISEMENT Reprints & Permissions http://www.forbes.com/pictures/flem45ehe/what-it-takes-to-retain-your-top-talent/ https://www.forbes.com/sites/rogertrapp/ http://www.forbes.com/pictures/flem45ehe/what-it-takes-to-retain-your-top-talent/ https://www.forbes.com/sites/rogertrapp/ https://www.parsintl.com/publication/forbes/ Leadership Strategy I write about leadership and organizational excellence. The Future Of Leadership And Management In The 21st- Century Organization Mar 27, 2017, 06:46pm EDT Brent Gleeson Contributor TWEET THIS The leadership and management needs of todays successful companies have changed. Heres why. https://www.forbes.com/leadership-strategy https://www.forbes.com/sites/brentgleeson/ https://www.forbes.com/sites/brentgleeson/ https://twitter.com/intent/tweet?url=http\%3A\%2F\%2Fwww.forbes.com\%2Fsites\%2Fbrentgleeson\%2F2017\%2F03\%2F27\%2Fthe-future-of-leadership-and-management-in-the-21st-century-organization\%2F&text=The\%20leadership\%20and\%20management\%20needs\%20of\%20today\%27s\%20successful\%20companies\%20have\%20changed.\%20Here\%27s\%20why.\%20\%40brentgleeson The leadership and management needs of todays successful companies have changed. Heres why. In slower moving and less complex business environments the old hierarchical model that depended mostly on only a few people at the top for leadership simply doesnt work anymore. In todays more volatile, uncertain and ambiguous business battlefield, decentralized controls and leadership through networks of people at all levels is imperative for success. One person — or a few people — simply dont have the time or resources to sift through mounds of data about their company performance, industry, economic environment or competitors. Nor do they have the time to disseminate the right data to the right people in real time. Organizations move too quickly for that model to be effective. Watch on Forbes: In a recent article, I wrote about the fundamental difference between leadership and management as it relates to todays organizations facing the need for significant change. So what does leadership and management look like in the successful, growing and innovative 21st century organization? One easy correlation I can draw is from experiencing the leaner structures we had in the Navy SEAL teams. When you think military, most would picture an extremely bureaucratic command and control environment, which of course does still exist in todays armed forces. In some cases its absolutely necessary. But in special operations, the pace at which we must move, learn and even change moves far too quickly for a traditional hierarchy. The Naval Special Warfare community, where regular military rank of course exists, is still a much flatter organization. Senior leaders do the leading, while most of the important managerial tasks are delegated to the lower ranks. Junior team members are empowered with great deals of Shutterstock  https://twitter.com/intent/tweet?url=http\%3A\%2F\%2Fwww.forbes.com\%2Fsites\%2Fbrentgleeson\%2F2017\%2F03\%2F27\%2Fthe-future-of-leadership-and-management-in-the-21st-century-organization\%2F&text=The\%20leadership\%20and\%20management\%20needs\%20of\%20today\%27s\%20successful\%20companies\%20have\%20changed.\%20Here\%27s\%20why.\%20\%40brentgleeson https://www.forbes.com/sites/brentgleeson/2017/03/12/the-fundamental-differences-between-leadership-and-management/#795aeb4253ecl responsibility and the autonomy to make decisions. Is it always perfect? Of course not. But with a culture founded on trust and extreme levels of accountability, this teamwork mechanism works very well. The same applies to todays business organizations. Especially in highly competitive environments. My previous company was a digital marketing agency. As the company grew rapidly, the industry continued to change due to technological advancements and the competitive landscape broadened, we knew our structures would have to evolve as well. In some of the most successful start-ups and even large organizations that have evolved, you can visibly see greater levels of delegation and decision making at all levels. Leaders focus on guiding and communicating the vision, leading large client projects and finding new ways to develop their staff. Managers are taking on more leadership responsibilities and pass increasing amounts of responsibility to junior employees. So what does this mean for leadership and management development? Management is more easily taught and learned in my opinion — planning, budgeting, staffing, quality control, processes, systems, etc. Leadership is a different beast and very few companies are designed for powerful leadership development. Their structures arent designed for it, they dont invest in it or dont see the need to prioritize it. Or all of the above. But if anything I have mentioned in this article is valid, then how can todays fast-paced organizations not find better ways to develop their leaders. Most of us spend the majority of the time we are awake working. Unless of course you are retired or have actually found a way to be successful working four hours a week. Personally, I would go nuts. So for the rest of us normal people, we spend most of our time working - and in large part in some sort of office environment. Which means that the time we have available to develop as managers and leaders is limited. Why? Because we are extremely busy and usually not being measured on some elusive performance metric related to how well we lead. So that means that if companies really want to move more quickly, have a flatter structure and develop emerging leaders from within, a significant amount of time must be spent teaching team members how to lead. Unfortunately, just having someone come in a do a keynote presentation on leadership at the annual sales kick-off meeting isnt sufficient enough to immediately create an army of leaders who can effectively develop, communicate and execute a powerful vision — especially a vision for leading new changes. Nor is a two-day workshop. While these types of investments are important and should be made, the organizational structure and culture has to be one that empowers leaders. One that encourages people to take charge, attempt to lead, make mistakes and constantly learn. Many newer companies and start-ups arent burdened by the old ways of thinking and operating like organizations founded fifty years ago. That said, many companies that have been around a long time have seen the light and are leading major transformations that improve culture, performance and leadership structure. The big ego bosses and dictators with an underserved sense of self-worth are finding it harder to exist in these new environments. A few 360-degree reviews and peer evaluations can fix that really quickly. The younger generations in the workplace today arent afraid to share their opinion. Especially when its anonymous. Trust me! And frankly, leaders and managers with that mindset arent good for any organization. During SEAL training, peer reviews are a weekly event. We have a process called top five, bottom five. Every week you anonymously rank the top five performers in the class as well as the bottom five. Much of the time, those landing in the bottom five are star performers — from a tactical or physical standpoint. But they have character or ego problems. These classmates are organically purged. This system roots those issues out before a student ever gets close to graduating. Its one of the many ways we protect our culture. Nothing I have seen points to the fact that organizations will revert back to the old way of doing things — larger than life CEOs who single-handedly make a company great, thick layers of overpaid middle management, over- managed and under-led departments, and structures not designed to develop leaders. Systems and cultures designed to develop new leaders and truly empower them is the key to success in any 21st century organization. The upside is almost endless. More people leading at a lower payroll cost. More people who feel connected to their work that are inspired by those around them. More senior leaders actually getting to focus on visionary leadership rather than management. Easier succession planning because you dont have to spend months looking for one Superwoman who can allegedly do-it-all. The list goes on and on. Does this easily apply to all organizations? Maybe not. But it does to any company I would want to build or work for. Check out my website. Brent Gleeson Follow Gleeson is the founder and CEO of TakingPoint Leadership, former Navy SEAL, globally recognized speaker, award-winning entrepreneur and the bestselling author of… CEO Get Essential CEO Brie�ngs Sign up for biweekly briefings with creative strategies and market-shaping moves for the CEO of the future. You may opt out any time. By signing up for this newsletter, you agree to the Terms and Conditions and Privacy Policy Email address Job Title Sign Up http://www.brentgleesonspeaker.com/ https://www.forbes.com/sites/brentgleeson/ https://www.forbes.com/terms-and-conditions/?_ptid=\%7Bjcx\%7DH4sIAAAAAAAAAFWQXW-CMBSG_0uv1ZRK-bozKmZzcx8SlMumnJUqQgctmCz776votnjuep7nbfP2CzGZowhlB_Lx3sxflUEjpJiAVEL_cCHHuveCvC6OXPmGG2w5nBU0EioOg7Hcu3iRZruExuEdXZ6BGy3ratCcAPtUiGMrxtgOMdz3WSfYlIDXdSHjn7V7f_uM_4Xbou4TOKmSaUgCMg_nQbbw4-1qndlIwdpfiCLdGBghfTsP6Zdkv1vHj090-vaM_lnKGskqfVPSeLXd4IBsspl1ODspJkXVoqgyZTlCnWzlVe3Gtz852Aa5Kg7C-lJdKmI8cbyJQ8MJocRuTQvNTEClLcx7fnlblyhyPOJQ6geu-_0DpS7_RoEBAAA https://www.forbes.com/privacy/english/?_ptid=\%7Bjcx\%7DH4sIAAAAAAAAAFWQXW-CMBSG_0uv1ZRK-bozKmZzcx8SlMumnJUqQgctmCz776votnjuep7nbfP2CzGZowhlB_Lx3sxflUEjpJiAVEL_cCHHuveCvC6OXPmGG2w5nBU0EioOg7Hcu3iRZruExuEdXZ6BGy3ratCcAPtUiGMrxtgOMdz3WSfYlIDXdSHjn7V7f_uM_4Xbou4TOKmSaUgCMg_nQbbw4-1qndlIwdpfiCLdGBghfTsP6Zdkv1vHj090-vaM_lnKGskqfVPSeLXd4IBsspl1ODspJkXVoqgyZTlCnWzlVe3Gtz852Aa5Kg7C-lJdKmI8cbyJQ8MJocRuTQvNTEClLcx7fnlblyhyPOJQ6geu-_0DpS7_RoEBAAA https://www.forbes.com/sites/brentgleeson/  Read More ADVERTISEMENT Reprints & Permissions https://www.parsintl.com/publication/forbes/ International Business Management i About the Tutorial International Business is a subject that teaches how to nurture a local business and make it global. It explains the business practices and strategies required to succeed in international markets. In this tutorial, it has been our endeavor to cover the multidimensional aspects of International Business in an easy-to-understand manner. Audience This tutorial is specially designed for the students of Management, Commerce, Human Resources, Marketing, and Business Law. Prerequisites To understand this tutorial, it is advisable to have a foundation level knowledge of business and management studies. However, general students who wish to get a brief overview International business may find it quite useful. Copyright & Disclaimer © Copyright 2019 by Tutorials Point (I) Pvt. Ltd. All the content and graphics published in this e-book are the property of Tutorials Point (I) Pvt. Ltd. The user of this e-book is prohibited to reuse, retain, copy, distribute or republish any contents or a part of contents of this e-book in any manner without written consent of the publisher. We strive to update the contents of our website and tutorials as timely and as precisely as possible, however, the contents may contain inaccuracies or errors. Tutorials Point (I) Pvt. Ltd. provides no guarantee regarding the accuracy, timeliness or completeness of our website or its contents including this tutorial. If you discover any errors on our website or in this tutorial, please notify us at [email protected] International Business Management ii Table of Contents About the Tutorial ...................................................................................................................................... i Audience .................................................................................................................................................... i Prerequisites .............................................................................................................................................. i Copyright & Disclaimer ............................................................................................................................... i Table of Contents ...................................................................................................................................... ii PART 1: THE INTERNATIONAL BUSINESS ECOSPHERE ............................................................... 1 1. IB – Introduction ....................................................................................................................................... 2 A Global Village ......................................................................................................................................... 2 What is International Business? ................................................................................................................. 2 Internationalization of Business ................................................................................................................. 3 Advantages of Internationalization ............................................................................................................ 3 Globalization ............................................................................................................................................. 4 Factors Causing Globalization of Businesses ............................................................................................... 4 2. IB – Country Attractiveness ....................................................................................................................... 6 Adapting to Changing Needs ...................................................................................................................... 6 Country Attractiveness .............................................................................................................................. 7 Business Environments .............................................................................................................................. 7 3. IB – Protectionism ................................................................................................................................... 10 4. Liberalization .......................................................................................................................................... 12 Liberalization Vs Deregulation ................................................................................................................. 12 Arguments, Counterarguments, and Discussions ...................................................................................... 12 Liberalization, Privatization, and Globalization ......................................................................................... 13 Revolutionary Economic Trends ............................................................................................................... 13 PART 2: INTERNATIONAL TRADE ........................................................................................... 14 5. General Agreements on Tariffs and Trade ............................................................................................... 15 General Agreements on Tariffs and Trade ................................................................................................ 15 GATT – Major Principles ........................................................................................................................... 15 Role of GATT in Promoting International Trade ........................................................................................ 15 6. World Trade Organization ....................................................................................................................... 17 Reasons behind the Formation of WTO .................................................................................................... 17 Role of WTO in Promoting International Trade ......................................................................................... 18 Role of Developing Countries ................................................................................................................... 19 7. Global Trade – Major Challenges ............................................................................................................ 20 8. IB – Modern Theories .............................................................................................................................. 22 The Heckscher and Ohlin Model .............................................................................................................. 22 The Samuelson and Jones Model ............................................................................................................. 22 The Krugman and Obsfeld Model ............................................................................................................. 23 The Michael Porter Model ....................................................................................................................... 23 9. Global Competetiveness ......................................................................................................................... 24 International Business Management iii Factors Affecting Global Competitiveness ................................................................................................ 24 10. Regional Trading Blocs ............................................................................................................................ 25 What are Regional Trading Blocs? ............................................................................................................ 25 Regional Trading Blocs – Advantages ....................................................................................................... 25 Regional Trading Blocs – Disadvantages ................................................................................................... 26 11. Major Trade Blocs ................................................................................................................................... 27 ASEAN ..................................................................................................................................................... 27 EU ........................................................................................................................................................... 27 MERCOSUR.............................................................................................................................................. 27 NAFTA ..................................................................................................................................................... 28 PART 3: STRATEGIC APPROACHES ......................................................................................... 29 12. Strategic Compulsions ............................................................................................................................. 30 Areas of Strategic Compulsions ................................................................................................................ 30 Standardization Vs Differentiation ........................................................................................................... 31 Strategic Options ..................................................................................................................................... 31 Factors that Affect Strategic Options........................................................................................................ 32 13. Global Portfolio Management................................................................................................................. 34 Factors Affecting Global Portfolio Investment .......................................................................................... 34 Modes of Global Portfolio Management .................................................................................................. 35 Drawbacks of Global Portfolio Management ............................................................................................ 36 14. IB – Modes of Entry ................................................................................................................................. 37 Exporting ................................................................................................................................................. 37 Licensing ................................................................................................................................................. 37 Franchising .............................................................................................................................................. 38 Turnkey Project ....................................................................................................................................... 38 Mergers & Acquisitions ............................................................................................................................ 38 Joint Venture ........................................................................................................................................... 38 Wholly Owned Subsidiary ........................................................................................................................ 39 15. IB – Organizational Structures ................................................................................................................. 40 Centralization vs. Decentralization ........................................................................................................... 40 Use of Subsidiary Board of Directors ........................................................................................................ 40 Organizational Structures ........................................................................................................................ 40 Mixed Matrix ........................................................................................................................................... 46 16. IB – Control Mechanisms ........................................................................................................................ 48 Objectives of Control ............................................................................................................................... 48 Types of Control Mechanisms .................................................................................................................. 48 Approaches to Control Mechanisms......................................................................................................... 49 Constraints of Control Approaches........................................................................................................... 50 17. IB – Performance Issues .......................................................................................................................... 52 Effective Performance Measurement System ........................................................................................... 53 Performance Evaluation System............................................................................................................... 53 Financial and Non-Financial Measures of Evaluation ................................................................................ 54 Types of Performance Evaluation Systems ............................................................................................... 54 International Business Management iv UNIT 4: BUSINESS OPERATIONS ............................................................................................ 55 18. IB – Production Issues ............................................................................................................................. 56 Factors that Affect Production ................................................................................................................. 56 Facility or Location................................................................................................................................... 56 Scale of Operations.................................................................................................................................. 57 Cost of Production ................................................................................................................................... 57 Make-or-Buy Decisions ............................................................................................................................ 57 19. IB – Supply Chain Issues .......................................................................................................................... 59 Globalization and its Effect on Supply Chain ............................................................................................. 59 20. Global Marketing Mix ............................................................................................................................. 60 Global Marketing Mix: Consumer Products .............................................................................................. 60 Global Marketing Mix: Price ..................................................................................................................... 61 Global Marketing Mix: Promotion ............................................................................................................ 62 Global Marketing Mix: Distribution .......................................................................................................... 64 Application of 4 P’s .................................................................................................................................. 65 21. IB – Financial Aspects .............................................................................................................................. 67 Foreign Investment by International Companies ...................................................................................... 67 International Investment Outcomes......................................................................................................... 68 Factors for Investment Decisions ............................................................................................................. 68 Funding the International Business .......................................................................................................... 69 Sources of Funds ..................................................................................................................................... 69 Foreign Exchange Risks ............................................................................................................................ 69 Hedging Forex Risks – Internal Techniques ............................................................................................... 70 Hedging Forex Risks – External Techniques .............................................................................................. 70 22. IB – HRM Issues....................................................................................................................................... 72 Recruitment and Selection ....................................................................................................................... 72 Development & Training .......................................................................................................................... 72 Performance Evaluation .......................................................................................................................... 73 Management of Expatriates ..................................................................................................................... 73 PART 5: MISCELLANEOUS ..................................................................................................... 75 23. IB – Adverse Effects................................................................................................................................. 76 24. IB – Conflict Management ....................................................................................................................... 78 Types of Conflicts .................................................................................................................................... 78 Factors Causing Conflicts ......................................................................................................................... 79 Conflict Management .............................................................................................................................. 79 Five A’s Technique ................................................................................................................................... 81 25. IB – Negotiations..................................................................................................................................... 83 Role of International Agencies in Negotiations ......................................................................................... 84 26. IB – Ethical Issues .................................................................................................................................... 86 Employment Practices and Ethics ............................................................................................................. 86 Human Rights .......................................................................................................................................... 86 Environmental Pollution .......................................................................................................................... 86 Corruption ............................................................................................................................................... 87 International Business Management v Moral Obligations .................................................................................................................................... 87 International Business Management 1 Part 1: The International Business Ecosphere International Business Management 2 A Global Village The world is fast becoming a global village where there are no boundaries to stop free trade and communication. Keeping pace with it, the way we do business has changed in an unprecedented manner. The competition, in the global marketplace, is at its peak where all companies want to sell their goods to everyone, everywhere on the globe. Figure: A Global Village without Boundaries For example, the faucet we see in our bathroom may be from Italy. The towels we use may be a Brazilian product. The automobile we drive may be a Japanese or German brand. The air conditioners we use may be from France. It is almost impossible to stay isolated and be self-sufficient in this day and age. That is why multinational companies are a reality. What is International Business? Any business that involves operations in more than one country can be called an international business. International business is related to the trade and investment operations done by entities across national borders. 1. IB – INTRODUCTION International Business Management 3 Firms may assemble, acquire, produce, market, and perform other value-addition- operations on international scale and scope. Business organizations may also engage in collaborations with business partners from different countries. Apart from individual firms, governments and international agencies may also get involved in international business transactions. Companies and countries may exchange different types of physical and intellectual assets. These assets can be products, services, capital, technology, knowledge, or labor. Note: In this tutorial, we are primarily focusing towards business operations of the individual firm. Internationalization of Business Let’s try to explore the reasons why a business would like to go global. It is important to note that there are many challenges in the path of internationalization, but we’ll focus on the positive attributes of the process for the time-being. There are five major reasons why a business may want to go global:  First-mover Advantage: It refers to getting into a new market and enjoy the advantages of being first. It is easy to quickly start doing business and get early adopters by being first.  Opportunity for Growth: Potential for growth is a very common reason of internationalization. Your market may saturate in your home country and therefore you may set out on exploring new markets.  Small Local Markets: Start-ups in Finland and Nordics have always looked at internationalization as a major strategy from the very beginning because their local market is small.  Increase of Customers: If customers are in short supply, it may hit a company’s potential for growth. In such a case, companies may look for internationalization.  Discourage Local Competitors: Acquiring a new market may mean discouraging other players from getting into the same business-space as one company is in. Advantages of Internationalization There are multiple advantages of going international. However, the most striking and impactful ones are the following four. Product Flexibility International businesses having products that don’t really sell well enough in their local or regional market may find a much better customer base in international markets. Hence, a business house having global presence need not dump the unsold stock of products at deep discounts in the local market. It can search for some new markets where the products sell at a higher price. A business having international operations may also find new products to sell internationally which they don’t offer in the local markets. International businesses have a wider audience and thus they can sell a larger range of products or services. International Business Management 4 Less Competition Competition can be a local phenomenon. International markets can have less competition where the businesses can capture a market share quickly. This factor is particularly advantageous when high-quality and superior products are available. Local companies may have the same quality products, but the international businesses may have little competition in a market where an inferior product is available. Protection from National Trends and Events Marketing in several countries reduces the vulnerability to events of one country. For example, the political, social, geographical and religious factors that negatively affect a country may be offset by marketing the same product in a different country. Moreover, risks that can disrupt business can be minimized by marketing internationally. Learning New Methods Doing business in more than one country offers great insights to learn new ways of accomplishing things. This new knowledge and experience can pave ways to success in other markets as well. Globalization Although globalization and internationalization are used in the same context, there are some major differences.  Globalization is a much larger process and often includes the assimilation of the markets as a whole. Moreover, when we talk about globalization, we take up the cultural context as well.  Globalization is an intensified process of internationalizing a business. In general terms, global companies are larger and more widespread than the low-lying international business organizations.  Globalization means the intensification of cross-country political, cultural, social, economic, and technological interactions that result in the formation of transnational business organization. It also refers to the assimilation of economic, political, and social initiatives on a global scale.  Globalization also refers to the costless cross-border transition of goods and services, capital, knowledge, and labor. Factors Causing Globalization of Businesses There are many factors related to the change of technology, international policies, and cultural assimilation that initiated the process of globalization. The following are the most important factors that helped globalization take shape and spread it drastically. The Reduction and Removal of Trade Barriers After World War II, the General Agreement on Tariffs and Trade (GATT) and the WTO have reduced tariffs and various non-tariff barriers to trade. It enabled more countries to explore their comparative advantage. It has a direct impact on globalization. International Business Management 5 Trade Negotiations The Uruguay Round of negotiations (1986–94) can be considered as the real boon for globalization. It is considerably a large set of measures which was agreed upon exclusively for liberalized trade. As a result, the world trade volume increased by 50\% in the following 6 years of the Uruguay Round, paving the way for businesses to span their offerings at an international level. Transport Costs Over the last 25 years, sea transport costs have plunged 70\%, and the airfreight costs have nosedived 3–4\% annually. The result is a boost in international and multi-continental trade flows that led to Globalization. Growth of the Internet Expansion of e-commerce due to the growth of the Internet has enabled businesses to compete globally. Essentially, due to the availability of the Internet, consumers are interested to buy products online at a low price after reviewing best deals from multiple vendors. At the same time, online suppliers are saving a lot of marketing costs. Growth of Multinational Corporations Multinational Corporations (MNCs) have characterized the global interdependence. They encompass a number of countries. Their sales, profits, and the flow of production is reliant on several countries at once. The Development of Trading Blocs The regional trade agreement (RTA) abolished internal barriers to trade and replaced them with a common external tariff against non-members. Trading blocs actually promote globalization and interdependence of economies via trade creation. International Business Management 6 The International business environment includes various factors like social, political, regulatory, cultural, legal and technological factors that surround a business entity in various sovereign nations. There are exogenous factors relative to the home environment of the organization in the international environment. These factors influence the decision-making process on the use of resources and capabilities. They also make a nation either more or less attractive to an international business firm. We will take up the most … The Business Environment of Today Requires Managers Who Lead Changes in Business Todays Global Mindset Management Versus Leadership Week 1: The Effective Manager/ Leader of Today Lesson 1 of 3 Changes in Business Today’s Business Environment Today’s business environment can be characterized as frenetic. The rapid changes in technology and the development of new business opportunities are making traditional business leaders uncertain as to how to manage and lead change. The face of leadership has changed from the “Captain of Industry” to the “Team of Change”.  Understanding the landscape of business today and in the future tells us what necessary skills are demanded of an e�ective manager today and by extension why this class will focus on our study of these skills.  In this video you will learn about some of the biggest business challenges that leaders are facing today through an interview with the former CEO of Young &  Rubicam. B U S I N E S S C H A L L E N G E S T H E F U T U R E O F W O R K today business environment https://www.youtube.com/watch?v=IThdNheGZkI In this video you will look at Jacob Morgans vision for how work must change due to di�erent demographics and advances in technology. B U S I N E S S C H A L L E N G E S T H E F U T U R E O F W O R K The Future of Work with Jacob Morgan https://www.youtube.com/watch?v=65zSO0iLHAo Review the article, Managing in Chaos, about getting companies to change quickly in a very chaotic and fast-paced world. http://archive.fortune.com/magazines/fortune/fortune_archive/2006/10/02/8387417/index.htm Lesson 2 of 3 Todays Global Mindset The Global Mindset Due to many di�erent changes, both in business itself and in the world around us, there has been an increasing number of businesses that have moved to a more global mindset. Technology has made it much easier to conduct business internationally, and therefore the entire economy has sort of shifted into more of a global economy than it ever was before.   Dominic Barton: Five Trends Reshaping the Global Economy Review the video below where Dominic Barton discusses �ve trends that are reshaping the global economy and the implications that has on leaders during this time of change. https://www.youtube.com/watch?v=E4-MyLj-LdE Now that you have learned a bit more about some of the trends that are shaping the global economy it is time to switch gears to global/international strategy. In this next video you will learn a bit more about the strategy of international business and the three questions that companies need to ask when looking to expand internationally. The Strategy of International Business Read pages 1 - 14 of International Business Management, where you will learn about the international business ecosphere, https://www.youtube.com/watch?v=wnOj3hP4hlE https://www.tutorialspoint.com/international_business_management/international_business_management_tutorial.pdf SU BMI T including an introduction, country attractiveness, protectionism, and liberalization.  Check Your Understanding from the Reading: Match the major reason for a business to go global on the left with its de�nition on the right. First-Mover Advantage Opportunity for Growth Increase of Customers Discourage Local Competitors It refers to getting into a new market enjoy the advantages of being �rst. Your market may saturate in your home country and you set out exploring new markets. If the customer base is in short supply, companies may need to look for a new market. Not allowing other players to get into the same business- space as one company is in. Lesson 3 of 3 Management Versus Leadership Management is about arranging and telling. Leadership is about nurturing and enhancing.” Tom Peters “ Until now the coursework has indicated there is a di�erence between managers and leaders. The mindset of the leader is that of the visionary, big picture, future-oriented, leader of followers. On the other hand, managers are the business stabilizers, the point person who seeks to set goals toward the execution of the leader’s vision. But is that the future for managers?  The breakdown of large business structures into smaller, collaborative, change responsive organizations with �at structures led by teams puts managers in the unique position of setting visions and making decisions that formerly would not have been a�orded to them.  It seems to suggest that leaders will be managers and manager’s leaders. Tom Peters would suggest that there is still a di�erence while other business leaders suggest that managers and leaders are becoming the same by taking on some of the same skills the other’s role used exclusively. Understanding how the roles are blending helps to explain the range of skills today’s manager must have to be e�ective.    The Difference Between In�uence and Leadership – Read this article that talks about the distinct di�erences between in�uence and leadership. The authors outline ten di�erences between in�uence and leadership within the article. https://stephenrgraves.com/articles/read/the-difference-between-influence-and-leadership/ The Future of Leadership and Management in the 21st Century Organization – Read this article that discusses what it takes to have successful organizations today, including teamwork, trust, accountability, and decision making at lower levels within the organization.  https://www.forbes.com/sites/brentgleeson/2017/03/27/the-future-of-leadership-and-management-in-the-21st-century-organization/#30b0b601218f Successful Organizations Need Leaders on all Levels – Read this article about the importance of having strong leadership throughout all levels of the organization and the fact that many organizations are still facing a shortfall in their acquisition of strong leadership talent. https://www.forbes.com/sites/rogertrapp/2014/03/23/organizations-need-leaders-at-all-levels/#7419ed63ab17 The Fundamental Differences between Leadership and Management – Read this article about the strengths of leadership and management that are both needed in order to be successful at organizational change, which is an important part of an organizations success today.  https://www.forbes.com/sites/brentgleeson/2017/03/12/the-fundamental-differences-between-leadership-and-management/#940fdde53ecb
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Indigenous Australian Entrepreneurs Exami Calculus (people influence of  others) processes that you perceived occurs in this specific Institution Select one of the forms of stratification highlighted (focus on inter the intersectionalities  of these three) to reflect and analyze the potential ways these ( American history Pharmacology Ancient history . Also Numerical analysis Environmental science Electrical Engineering Precalculus Physiology Civil Engineering Electronic Engineering ness Horizons Algebra Geology Physical chemistry nt When considering both O lassrooms Civil Probability ions Identify a specific consumer product that you or your family have used for quite some time. This might be a branded smartphone (if you have used several versions over the years) or the court to consider in its deliberations. Locard’s exchange principle argues that during the commission of a crime Chemical Engineering Ecology aragraphs (meaning 25 sentences or more). Your assignment may be more than 5 paragraphs but not less. INSTRUCTIONS:  To access the FNU Online Library for journals and articles you can go the FNU library link here:  https://www.fnu.edu/library/ In order to n that draws upon the theoretical reading to explain and contextualize the design choices. Be sure to directly quote or paraphrase the reading ce to the vaccine. Your campaign must educate and inform the audience on the benefits but also create for safe and open dialogue. A key metric of your campaign will be the direct increase in numbers.  Key outcomes: The approach that you take must be clear Mechanical Engineering Organic chemistry Geometry nment Topic You will need to pick one topic for your project (5 pts) Literature search You will need to perform a literature search for your topic Geophysics you been involved with a company doing a redesign of business processes Communication on Customer Relations. Discuss how two-way communication on social media channels impacts businesses both positively and negatively. Provide any personal examples from your experience od pressure and hypertension via a community-wide intervention that targets the problem across the lifespan (i.e. includes all ages). Develop a community-wide intervention to reduce elevated blood pressure and hypertension in the State of Alabama that in in body of the report Conclusions References (8 References Minimum) *** Words count = 2000 words. *** In-Text Citations and References using Harvard style. *** In Task section I’ve chose (Economic issues in overseas contracting)" Electromagnetism w or quality improvement; it was just all part of good nursing care.  The goal for quality improvement is to monitor patient outcomes using statistics for comparison to standards of care for different diseases e a 1 to 2 slide Microsoft PowerPoint presentation on the different models of case management.  Include speaker notes... .....Describe three different models of case management. visual representations of information. They can include numbers SSAY ame workbook for all 3 milestones. You do not need to download a new copy for Milestones 2 or 3. When you submit Milestone 3 pages): Provide a description of an existing intervention in Canada making the appropriate buying decisions in an ethical and professional manner. Topic: Purchasing and Technology You read about blockchain ledger technology. Now do some additional research out on the Internet and share your URL with the rest of the class be aware of which features their competitors are opting to include so the product development teams can design similar or enhanced features to attract more of the market. The more unique low (The Top Health Industry Trends to Watch in 2015) to assist you with this discussion.         https://youtu.be/fRym_jyuBc0 Next year the $2.8 trillion U.S. healthcare industry will   finally begin to look and feel more like the rest of the business wo evidence-based primary care curriculum. Throughout your nurse practitioner program Vignette Understanding Gender Fluidity Providing Inclusive Quality Care Affirming Clinical Encounters Conclusion References Nurse Practitioner Knowledge Mechanics and word limit is unit as a guide only. The assessment may be re-attempted on two further occasions (maximum three attempts in total). All assessments must be resubmitted 3 days within receiving your unsatisfactory grade. You must clearly indicate “Re-su Trigonometry Article writing Other 5. June 29 After the components sending to the manufacturing house 1. In 1972 the Furman v. Georgia case resulted in a decision that would put action into motion. Furman was originally sentenced to death because of a murder he committed in Georgia but the court debated whether or not this was a violation of his 8th amend One of the first conflicts that would need to be investigated would be whether the human service professional followed the responsibility to client ethical standard.  While developing a relationship with client it is important to clarify that if danger or Ethical behavior is a critical topic in the workplace because the impact of it can make or break a business No matter which type of health care organization With a direct sale During the pandemic Computers are being used to monitor the spread of outbreaks in different areas of the world and with this record 3. Furman v. Georgia is a U.S Supreme Court case that resolves around the Eighth Amendments ban on cruel and unsual punishment in death penalty cases. The Furman v. Georgia case was based on Furman being convicted of murder in Georgia. Furman was caught i One major ethical conflict that may arise in my investigation is the Responsibility to Client in both Standard 3 and Standard 4 of the Ethical Standards for Human Service Professionals (2015).  Making sure we do not disclose information without consent ev 4. Identify two examples of real world problems that you have observed in your personal Summary & Evaluation: Reference & 188. Academic Search Ultimate Ethics We can mention at least one example of how the violation of ethical standards can be prevented. Many organizations promote ethical self-regulation by creating moral codes to help direct their business activities *DDB is used for the first three years For example The inbound logistics for William Instrument refer to purchase components from various electronic firms. During the purchase process William need to consider the quality and price of the components. In this case 4. A U.S. Supreme Court case known as Furman v. Georgia (1972) is a landmark case that involved Eighth Amendment’s ban of unusual and cruel punishment in death penalty cases (Furman v. Georgia (1972) With covid coming into place In my opinion with Not necessarily all home buyers are the same! When you choose to work with we buy ugly houses Baltimore & nationwide USA The ability to view ourselves from an unbiased perspective allows us to critically assess our personal strengths and weaknesses. This is an important step in the process of finding the right resources for our personal learning style. Ego and pride can be · By Day 1 of this week While you must form your answers to the questions below from our assigned reading material CliftonLarsonAllen LLP (2013) 5 The family dynamic is awkward at first since the most outgoing and straight forward person in the family in Linda Urien The most important benefit of my statistical analysis would be the accuracy with which I interpret the data. The greatest obstacle From a similar but larger point of view 4 In order to get the entire family to come back for another session I would suggest coming in on a day the restaurant is not open When seeking to identify a patient’s health condition After viewing the you tube videos on prayer Your paper must be at least two pages in length (not counting the title and reference pages) The word assimilate is negative to me. I believe everyone should learn about a country that they are going to live in. It doesnt mean that they have to believe that everything in America is better than where they came from. It means that they care enough Data collection Single Subject Chris is a social worker in a geriatric case management program located in a midsize Northeastern town. She has an MSW and is part of a team of case managers that likes to continuously improve on its practice. The team is currently using an I would start off with Linda on repeating her options for the child and going over what she is feeling with each option.  I would want to find out what she is afraid of.  I would avoid asking her any “why” questions because I want her to be in the here an Summarize the advantages and disadvantages of using an Internet site as means of collecting data for psychological research (Comp 2.1) 25.0\% Summarization of the advantages and disadvantages of using an Internet site as means of collecting data for psych Identify the type of research used in a chosen study Compose a 1 Optics effect relationship becomes more difficult—as the researcher cannot enact total control of another person even in an experimental environment. Social workers serve clients in highly complex real-world environments. 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After establishing where each member is in relation to the family A Health in All Policies approach Note: The requirements outlined below correspond to the grading criteria in the scoring guide. At a minimum Chen Read Connecting Communities and Complexity: A Case Study in Creating the Conditions for Transformational Change Read Reflections on Cultural Humility Read A Basic Guide to ABCD Community Organizing Use the bolded black section and sub-section titles below to organize your paper. For each section Losinski forwarded the article on a priority basis to Mary Scott Losinksi wanted details on use of the ED at CGH. He asked the administrative resident