BusinessStrategy_NNM1_Task1

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Western Governors University *

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NNM1

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Management

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May 17, 2024

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Task 1: Market Entry Overview Course Code: C714.V2 Student Name: April Knight Student ID: 000579144 Date: 01/15/2021 Student Mentor Name: Traci Wallrauch
A1. Discuss how ALL of the following aspects from the scenario affect the company’s decision-making process (Unit 3: Module 2) 1. This company has created a culture of innovation and equal partnership, and whether or not this successfully results in the creating and sharing of new designs that will be needed regularly to achieve the organizational goals, will determine what additional steps are needed to get back on track, if any. 2. Since there is a decentralized organizational structure in place, all decisions are made as one, with each employee and founder in agreement before they move forward in their plans. 3. With the mission to provide the most innovative customer-driven design and growth in the industry, and the vision to be the most sustainable company in the industry, the organization would be most likely to succeed with this specific culture and structure because it will allow them to reach these goals. A2. Describe how the company’s culture could affect the market entry strategy. One explanation will suffice. (Furthermore, what type of culture is the company? Use the Competing Values Framework article below to explain your answer.) ( https://www.thercfgroup.com/files/resources/ an_introduction_to_the_competing_values_framework.pdf ) Alternatively, you can also find our brief video on the COMPETING VALUES FRAMEWORK here . 1. The U.S. Fishing Boat Manufacturer seems to have a market culture, which means they believe aggressively competing and customer focus will help them to achieve success. If anything, this will most likely help them with the transition into the new market since they are using Indian product designers to help reach the target age group, and tested by fisherman from different sectors of the industry, cultures, and regions so they will have a very thorough and clear understanding of the market needs. A3. Discuss in detail whether the organizational structure is an advantage or disadvantage to the company and explain why. (Unit 4: Module 4) 1. I believe it is an advantage because the mission is to provide the most innovative and customer-driven design and growth in the industry, and they have implemented an innovative and equal partnership culture to support that. Without the decentralized organizational structure, however, there would not be an opportunity
for relationships to develop, which is critical for associates to feel comfortable sharing their ideas with the founders. B1. Describe specific characteristics of the emerging market that affect the product from the provided scenario. (At least two.) (Unit 3: Module 2) NOTE: What is going on in India that would affect the company’s ability to design or develop this product? Or, simply google “Characteristics of Emerging Markets” for examples. 1. Fishing and aquaculture are primary industries in the coastal regions of India, which makes up 1% of the nation’s gross domestic product and 7% of global fish exports (Hanko Hackberry Group, n.d.). 2. The business climate in India is open to new partnerships to improve the fishing experience for those who preserve the natural ecosystem with non-motorized boats, and only if the boats are made with plastics used in India in order to reduce waste products in the nation’s landfills. B2. Based on the emerging market characteristics from B1, discuss in detail how either a new product or improvement to the existing product would meet both market needs from B1. Please be specific. (Unit 2: Module 1). India’s labor force would definitely benefit from this product. The business partnership is welcome as long as the natural ecosystem is preserved with the use of non-motorized boats, but the Fishing Boat Manufacturer now has to make a large investment in India so it can manufacture the boats there, which will also require the hiring of locals, and the boat has to be redesigned using recycled plastics and an environmentally-friendly waterproof coating. B2a. Based on your answer for B2. detail EACH step the company would take in the design process of the new product or improvement to the existing product. Please be DETAILED and apply each step to the case study. ( Unit 2; Module 1, Page 9, Both a video and the module information explain this process. Please note: the course of study discusses two approaches to design thinking; either approach is acceptable to detail.)
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