Answer To: Assignment Topic: International Business Strategy Introduction This unit is aimed at developing...
Abhishek answered on Nov 07 2021
INTERNATIONAL BUSINESS STRATEGY
Table of Contents
Task 1: Evaluating Strategy in Global Corporate Context 3
Analyzing Strategic Theories and Models 3
Transformational Leadership Theory 3
Steps to Effective Communication and Using Communication Accommodation Theory 4
Success Rate of Different Strategies in Global Marketplace 4
Evaluation of Individual and Organizational Ethics 5
Task 2: Effects of International Environment and Internal Environment Forces 6
Different Models and Techniques to Assess External Environment of Organization 6
The PESTEL Analysis 6
Evaluating Porter's Diamond's Five Forces Model and 8
SWOT Analysis and Its Purpose 9
Task 3: Different Missions, Objectives, Proposes and Strategies Process to Understand Industries at National as well as International Context 10
Designing Missions and Objectives to Achieve Competitive Advantage 10
Evaluation of Appropriate Strategies 11
Bibliography 13
Task 1: Evaluating Strategy in Global Corporate Context
Analyzing Strategic Theories and Models
Smiggle is an Australian based retail company, which basically sells different accessories and stationery goods. As a medium-sized company, it is a very renowned company in the retail sector and it has few international branches in New Zealand, the United Kingdom, Singapore, China, Ireland and Malaysia[footnoteRef:1]. The main branch of this company was situated at Melbourne, Australia in 2003 by the founder Peter Pausenwang and Stephen Meurs. The company has already introduced some theories and strategies. Still, for the betterment of the company, some strategies have to be implemented in the company and some work processes have to be improved. It must happen very soon to achieve the success of the company. [1: Areiqat, A, M Ahmad, & A Alheet, "Knowledge Management and Intellectual Capital Role in Achieving Creativity for Teaching Staff Members at Jordanian Universities.". in International Journal of Business and Management, 13, 2018, 38.]
Transformational Leadership Theory
Transformational leadership is a great strategy, by introducing this strategy, the quality of the teamwork will be much better and the organizational goal will be achieved smoothly. Transformational leadership is an excellent leadership style where leaders motivate and influence the employee for the development of the employees[footnoteRef:2]. In this transformational leadership process, the leaders would train the employees and then give them the chance to decide on their given job. The Bass' transformational model is so effective even in the present days. There are many benefits to introducing this leadership style in the organization such as motivating, influencing and positively encouraging the employees. [2: Breevaart, K. & Bakker, A.B., 2018. Daily job demands and employee work engagement: The role of daily transformational leadership behavior. Journal of occupational health psychology, 23(3), p.338]
To give the decision-making authority to them, this leadership style also increases the standards of the work culture of an organization. In this leadership style, leaders would show the vision of the organization to them and help them to achieve them. The communication channel maintains very well and there is open communication in this leadership style. This type of leadership style ensures cooperation between leaders and employees. This leadership model helps to make a great culture of an organization. In transformational leadership, the leader works with the team. Motivation and influence are the main things in the transformational leadership process. In this process, leaders give the full authority to their subordinates on their given job. Transformational leadership influences a positive change in an organization.
Steps to Effective Communication and Using Communication Accommodation Theory
The communication adoption theory is the best communication theory for our organization because according to it, people or employees accommodate their communication process as per the situation or people they communicate with[footnoteRef:3]. There are different types of customers in the retails sector and the staffs have to communicate in a different style with everyone as per the need. Therefore, introducing this style will help them to do it and also maintain the communication system between the staff. [3: Kim, J, "Imperative challenge for luxury brands.". in International Journal of Retail & Distribution Management, 47, 2019, 220-244.]
The communication also plays a significant role in the organization. So, here one perfect communication strategy should be used, which makes the communication process more effective and efficient. As Smiggle is a retail company, there are specific steps, which can improve the communication system of the company[footnoteRef:4]. The social sides can be used as a platform for communication. It is also essential to be transparent about the processes, merchandises, what services the company would like to give to the customers and obviously, about the organizational goal to the employees, which is an essential part of the effective communication system. To facilitate the bottom-up communication process is also very much needed. [4: Fitzgerald, A.D. & Jerry, D., 2020. Northern Australia aquaculture industry situational analysis]
Success Rate of Different Strategies in Global Marketplace
The success rate by applying the different strategies is quite good for Smiggle. The company has introduced the transformational leadership theory as a leadership model and the communication adoption theory as a communication model and also taken some important steps, which can make the communication process more effective[footnoteRef:5]. The company has some effective leaders and by introducing the transformational leadership theory, the teamwork has improved so well. The employees are so much motivated to achieve the organizational goal. The communication process, which is an essential part of an organization, also has improved by applying the communication adoption theory and by using the bottom-up communication process. The company also has some branches in other countries and these theories and models help to achieve success. [5: Grimmer, L., 2019. Market snapshot: Australia: interview with Elias Jahshan]
The theme of the Smiggle is 'Smile' and 'Giggle to promote their brand. They are a great brand new and are in much better positions than their competitors are. Smiggle has recently reinvigorated a new category in their organization and by doing this; they achieved a high growth, which is almost 20%. Smiggle is a colorful stationery brand for tweens and the products and branding attract the parents to buy the product from Smiggle only[footnoteRef:6]. The company is in a growing state and has plans to open many new branches in Australia and New Zealand very soon. Smiggle always believes in creating unique designs, which is another weapon of theirs to attract the customers towards them. The success rate to retain loyal customers is also high for the company. [6: Horstman, H.K., Colaner, C.W. & Rittenour, C.E., 2016. Contributing factors of adult adoptees’ identity work and self-esteem: Family communication patterns and adoption-specific communication. Journal of Family Communication, 16(3), pp.263-276]
Evaluation of Individual and Organizational Ethics
Smiggle is concerned to maintain organizational ethics and they have some fixed principles and regulation to maintain organizational ethics effectively and efficiently. They always try to follow the steps such as they try to sourcing directly from the factories with whom they have a partnership or close contacts. They do not allow any partiality or any unethical thing in the time of recruitment. They would always try to maintain the ethical sides about employment also.
They always try to maintain the required laws and regulation in their home country and also in the other international...