Based on the strategy created in the previous assignments, write a four to five (4-5) page paper in...

Question

Based on the strategy created in the previous assignments, write a four to five (4-5) page paper in which you follow these formatting requirements:

Create an argument for diversification of your business that will be presented to the board of directors or business investors.

Develop a strategy for diversification indicating the products and industries for the diversification and how synergies may be gained from the diversified activity.

Identify and discuss the foreign market that the company should enter and discuss the strategy it should use to enter the market.

Discuss the challenges that company may face in the foreign market, and how it might respond strategically to minimize the impact of these challenges.

Create a scenario when it would not make sense for the company to diversify or expand into a foreign market. Provide support for your rationale.

Assess how the company will create a business environment conducive to ethical behavior.

Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.

The specific course learning outcomes associated with this assignment are:

Analyze a plan to implement a firm’s strategy and manage the change from current operations.

Assess how Ethics, Corporate Social Responsibility, Environmental Sustainability, impacts strategy.

Use technology and information resources to research issues in strategic management.

Write clearly and concisely about strategic management using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric.

Points: 320	Assignment 3: Foreign Market Entry and Diversification
Criteria	Unacceptable Below 70% F	Fair 70-79% C	Proficient 80-89% B	Exemplary 90-100% A
1. Create an argument for diversification of your business that will be presented to the board of directors or business investors Weight: 10%	Did not submit or incompletely created an argument for diversification of your business that will be presented to the board of directors or business investors.	Partially created an argument for diversification of your business that will be presented to the board of directors or business investors.	Satisfactorily created an argument for diversification of your business that will be presented to the board of directors or business investors.	Thoroughly created an argument for diversification of your business that will be presented to the board of directors or business investors.
2. Develop a strategy for diversification indicating the products and industries for the diversification and how synergies may be gained from the diversified activity. Weight: 15%	Did not submit or incompletely developed a strategy for diversification indicating the products and industries for the diversification; did not submit or incompletely developed industries for the diversification and how synergies may be gained from the diversified activity.	Partially developed a strategy for diversification indicating the products and industries for the diversification; partially developed industries for the diversification and how synergies may be gained from the diversified activity.	Satisfactorily developed a strategy for diversification indicating the products and industries for the diversification; satisfactorily developed industries for the diversification and how synergies may be gained from the diversified activity.	Thoroughly developed a strategy for diversification indicating the products and industries for the diversification; thoroughly developed industries for the diversification and how synergies may be gained from the diversified activity.
3. Identify and discuss the foreign market that the company should enter and discuss the strategy it should use to enter the market. Weight: 15%	Did not submit or incompletely identified and discussed the foreign market that the company should enter and did not submit or incompletely discussed the strategy it should use to enter the market.	Partially identified and discussed the foreign market that the company should enter and partially discussed the strategy it should use to enter the market.	Satisfactorily identified and discussed the foreign market that the company should enter and satisfactorily discussed the strategy it should use to enter the market.	Thoroughly identified and discussed the foreign market that the company should enter and thoroughly discussed the strategy it should use to enter the market.
4. Discuss the challenges that company may face in the foreign market and how it might respond strategically to minimize the impact of these challenges. Weight: 15%	Did not submit or incompletely discussed the challenges that company may face in the foreign market; did not submit or incompletely discussed how it might respond strategically to minimize the impact of these challenges.	Partially discussed the challenges that company may face in the foreign market; partially discussed how it might respond strategically to minimize the impact of these challenges.	Satisfactorily discussed the challenges that company may face in the foreign market; satisfactorily discussed how it might respond strategically to minimize the impact of these challenges.	Thoroughly discussed the challenges that company may face in the foreign market; thoroughly discussed how it might respond strategically to minimize the impact of these challenges.
5. Create a scenario when it would not make sense for the company to diversify or expand into a foreign market. Provide support for your rationale. Weight: 15%	Did not submit or incompletely created a scenario when it would not make sense for the company to diversify or expand into a foreign market; did not submit or incompletely provided support for your rationale.	Partially created a scenario when it would not make sense for the company to diversify or expand into a foreign market; partially provided support for your rationale.	Satisfactorily created a scenario when it would not make sense for the company to diversify or expand into a foreign market; satisfactorily provided support for your rationale.	Thoroughly created a scenario when it would not make sense for the company to diversify or expand into a foreign market; thoroughly provided support for your rationale.
6. Assess how the company will create a business environment conducive to ethical behavior. Weight: 15%	Did not submit or incompletely assessed how the company will create a business environment conducive to ethical behavior.	Partially assessed how the company will create a business environment conducive to ethical behavior.	Satisfactorily assessed how the company will create a business environment conducive to ethical behavior.	Thoroughly assessed how the company will create a business environment conducive to ethical behavior.
7. 4 references Weight: 5%	No references provided	Does not meet the required number of references; some or all references poor quality choices.	Meets number of required references; all references high quality choices.	Exceeds number of required references; all references high quality choices.
8. Clarity, writing mechanics, and formatting requirements Weight: 10%	More than 6 errors present	5-6 errors present	3-4 errors present	0-2 errors present

Robert · Accepted Answer

Crafting and Executing Strategy
Buyankhishig Damdin
BUS 599 – Strategic Management
Dr. Phyllis Parise
Strayer University – Schaumburg Campus 
August, 2013
Abstract 
This paper consists of business’ Diversification strategy when a company enters into a 
new foreign market, what are the challenges being faced by the firm, steps to minimize these 
challenges and to understand the scenario where company should not diversify in the foreign 
market, strategic management by departments of a hotel. 
This paper will discuss all the pros and cons any company especially a Hospitality 
industry would face while entering into a new product or service portfolio. What are the 
important points need to be considered before landing up into such decisions.  
Diversification Strategy 
Businesses diversify to escape the saturated market space and reduce risks associated. 
The Hospitality Industry space is already witnessing stiff competition; The Hotel is also a 
part of it and in spite of it witnessing amazing growth it has to diversify to remain ahead of 
peers and competition. The business of Hotel could become healthier and stronger, even more 
balanced and capable to strengthen market penetration in a better way so if you prudently 
examined some options and expanded your offerings with some diversity of service and 
products.   
The branching out becomes not a choice but essential after a given point of time. The 
hotel is experiencing and witnessing this now, hence it is better to expand its services in new 
market with new product or service which can capture the untapped market and can fetch the 
competitor’s customers by increasing brand awareness and loyalty. There are many other 
reasons which would make it able to increase the market share. (Kenny, 2012)
• In spite of The Hotel doing well in Hospitality industry it is looking at new categories 
beyond making itself a known name in its niche category of corporate team building, 
it should give a thought  to some new ideas such as catering services and hosting 
special events in offsite if that could be manage with the available team.. In other 
words The Hotel is looking to diversify its business to offering deals on private parties 
and big corporate parties on known high demand seasons and slow days like holiday 
parties (Corporate).

Based on the strategy created in the previous assignments, write a four to five (4-5) page paper in which you follow these formatting requirements: Create an argument for diversification of your...

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