This is a two-part assignment. You started this assignment in Unit 6. You will finish and submit this assignment in Unit 7. Complete Part 2 of this assignment by executing the requirements below. You will combine Part 1 and Part 2 of this assignment in Unit 7 and submit it to the Unit 7 Dropbox for grading. Procrastination can be detrimental to your success in this class. In this assignment, you will address two Course Outcomes related to strategic planning to enter international markets.
The following Course Outcomes are assessed in this assignment:
MT460-4: Develop a strategic framework to increase the competitive advantage of a business.
PC-2.2: Formulate innovative solutions for identified initiatives.
You will find the following resource to be a helpful guide in your analysis of your chosen case study: Guide to Case Analysis. This assignment will require intensive interpretation skills. Be sure to read this Case Analysis Guide to prepare. Be sure to use the grading rubric as a checklist.
Choose an award-winning company from the Baldrige Performance Excellence Program website to study. You will evaluate the “Award Application Summary” as a business case. You are the chief strategy officer for your chosen company. You are conducting an evaluation of your chosen company for an upcoming annual report. Your goal is to demonstrate skill and expertise in strategic planning for an expansion effort into an international market based on your expert analysis and evaluation of the strategic position of your company. You will be submitting this report to the C-level executives of the company for consideration. Use the following criteria to assess international expansion opportunities for your chosen award-winning organization.
Assignment Part 1 Requirements:
- Provide background information about your chosen company, including topics such as the company name, industry sector in which the company operates, products, and target market. Elaborate and use research.
- Explain what strategic planning is and why it is important to a company by giving practical examples and synthesizing strategic management theories, principles, and concepts using research (read Chapters 1 and 2 in your textbook).
- Identify and present an opportunity for your chosen company to expand into an international market. You can search international markets using the Global Edge website. Conduct additional research on the company website or using the Purdue University Global Consider expansion ideas such as the creation of a new product, demand for an existing product, creation of a satellite location, creation of a grant-funded foundation or project, development of a subsidiary, etc. Be creative and innovative. Consult with your instructor if you need assistance.
- Provide reasoning why your company should enter your chosen international market (read pages 184–185 in your textbook).
- Conduct research on your chosen international market. Explain the complexity of entering your chosen international market using the diamond of national competitive advantage (read pages 185–192 in your textbook).
- Conduct a competitive analysis on your chosen international market (read pages 77–79 in your textbook).
- Identify and explain which of the three main approaches to international strategy is most appropriate for your company to employ as it expands into this new market (read pages 197–201 in your textbook).
- Explain the cross-border strategic moves your company faces by expanding into the international market (read pages 206–211 in your textbook).
Assignment Part 2 Requirements:
- Explain the value of expanding into your chosen international market from the perspective of diversification strategy (read pages 219–222 in your textbook).
- Explain whether it is best for your company to acquire an existing business, engage in corporate venturing, or establish a joint venture to enter your chosen international market (read pages 222–225 in your textbook).
- Will your company diversify into a related, unrelated, or related-unrelated business? Explain your strategic decision (read pages 225–238 in your textbook).
- Provide recommendations on how your diversification strategy can be profitable for your company (read pages 238–254 in your textbook).
- Develop and present SMART goals that will drive your company to successfully enter your chosen international market (conduct research).
- Develop a business letter to persuasively present your strategic framework for expanding the company into your chosen international market.
- Use a minimum of three peer-reviewed, academic research resources (including your textbook) to substantiate your critical thinking and to provide viable reasoning for your perspectives.
- Apply proper APA style citation and reference format.
- Use headings to segment the topics in your writing in order to create a flow of ideas for your reader.
- Write in third person to develop your business report.
You will combine Part 1 and Part 2 together in Unit 7 to submit for grading. Use the many theories and concepts learned from Chapters 1–8 of your textbook to complete this assignment. Use strategic management and leadership knowledge, skills, abilities, and behaviors you have acquired to help develop the framework for your strategic plan and to deliver an informative and persuasive report to the corporate leadership of your chosen company based on your chosen market.
Directions for Submitting Your Assignment
- Before you submit your assignment, you should save your work on your computer in a location and with a name that you will remember.
- Make sure your assignment is in the correct file format (Microsoft Word .doc or .docx).
- Submit your completed document to the Unit 7 Assignment Dropbox.