International Entrepreneurship Leading To Greater Cultural Understanding Commerce Essay

International Entrepreneurship Leading To Greater Cultural Understanding Commerce Essay Globalization of the world market brings new possibilities as well as enormous hurdles for both established and young businesses. With the emergence of international entrepreneurship, entrepreneurs are concentrating on specific issues that they face operating in complex environments affected by diverse national cultures and institutional influences (Johanson Vahlne, 2009). New global entrepreneurs depend on global networks for resources, distribution, and designs for growth. International entrepreneurs realize that success in a new marketplace requires agility, ingenuity, and certainty with a global viewpoint to acquire sustainability. Thus, global thinking is beneficial since foreign business clients can choose ideas, products, and services from many countries and cultures. However, entering into a foreign environment and culture can also become an obstacle psychologically in and of itself for the individual international entrepreneur (Mitchell et al., 2002). This paper will examin e two areas that focus on the importance of cultural understanding in international entrepreneurship. The first will comprise of how entrepreneurs who expand into international markets must know how to think globally in order to design and adopt strategies for different nations as a business ventures into an uncertain market. The second part will explore how psychological adaptation of the individual entering a foreign culture is interconnected with the international entrepreneur. Entrepreneurs can expand their business by participating in the global market; as every year thousands of small business enterprises are actively engaged in the international field. International entrepreneurship studies have started to focus on specific topics that confront entrepreneurs as they expand their new ventures (Zahra, Korri, Yu, 2005). The definition of international entrepreneurship in this paper will focus on the process of creatively discovering and exploiting opportunities that lie outside of a firms domestic markets in the pursuit of competitive advantage (Zahra George, 2002); across national borders, to create future goods and services (Oviatt McDougall, 2005). This meaning incorporates the process aspect of international entrepreneurship, which focuses on a central issue of why some individuals exploit international opportunities while others equally well placed do not act on them (Zahra, Korri, Yu, 2005). Globalization is a process fuelled by increasing cross border flows of goods, services, money, people, information, and culture (Held et al., 1999, p. 16). However, the use of this term will refer to Guillà ©ns (2001) definition of globalization as a process leading to greater interdependence and mutual awareness among participants in general. Guillà ©n (2001) combines the understanding of globalization as the intensification of consciousness of the world as a whole, and as the diffusion of practices, values and technology that have an influence on peoples lives worldwide (Guillà ©n, 2001). Noticing opportunities is normally more difficult in international settings, and the level of uncertainty that the potential entrepreneur must undergo will also be greater. Entrepreneurs able to function successfully in international settings may be both more skilled at noticing opportunities and have a greater capacity to endure the uncertainty associated with international entrepreneurship (Lu Beaamish, 2001). Noticing opportunities is normally more difficult in international settings, and the level of uncertainty that the potential entrepreneur must endure will also be greater (Coviello, 2006). Oviatt and McDougall (2005) emphasized that international entrepreneurs display the intention to compete in multiple locales at the inception of the firm to exploit existing international opportunities and would have the intention to do so when they started their firms (McNaughton, 2003). Starting a firm is a difficult process under the best of circumstances. International business scholars have traditionally argued that internationalization is difficult because firms had to overcome a liability of foreignness, although Johanson and Vahlne (2009) have recently acknowledge that being part of an effective network and prior knowledge can greatly accelerate the international entrepreneurship process. This liability of foreignness was based on the fact that firms and entrepreneurs lacked knowledge about doing business in other countries, which meant they had to endure the costs of learning and the discomfort of uncertainty (Lu Beaamish 2001). However, by positioning themselves in relevan t networks, or because of their past experience, many entrepreneurs have high levels of operational knowledge about foreign markets. In this manner, the traditional approaches for dealing with the liability of foreignness of either imitating local firms or by transferring unique organizational or managerial competences to their foreign unit (Sapienza et al., 2006) have been supplemented with a knowledge component, which is more related to uncertainty. There has been an acknowledgement that firms could begin to internationalize sooner and Sapienza et al. (2006, p. 915) suggest that the earlier a firm internationalizes, the more deeply imprinted its dynamic capability for exploiting opportunities in foreign markets will be. Others have pointed out the benefits of internationalizing earlier, or at least exporting at an earlier stage (Kundu Katz 2003). This may be because although there is a cost to learning, early entrants begin this process sooner (Autio, Sapienza, Almeida, 2000) an d at least some suggest they should do this before they actually start the firm (Coviello, 2006). An entrepreneur who would like to take advantage of international markets may have to study a foreign language, may have lived abroad and may be face with culture shock. Entrepreneurs must realize their companys competitive advantage such as: technology, price, financial superiority, or marketing, product innovation, an efficient distribution network or possession of exclusive information about the foreign market (Sapienza et al., 2006). Declining market conditions at home may cause entrepreneurs to seek foreign markets to help their business. Successful global entrepreneurs should have the following characteristics: a global vision, international management experience, innovative marketing or technology processes, a strong international business network, and effective organizational coordination worldwide (Lee, Peng, Barney, 2007). When global opportunities occur, entrepreneurs are likely more open-minded about internationalizing. The advantage of international trade is that a companys market is expanded much and growth prospects are greatly raised. Other advantages include minimizing seasonal slumps, reducing idle capacity, getting knowledgeable about products not sold in target markets, technology used in other countries, and learning about other cultures (Johnson, Lenartowicz, Apud, 2006). Before going to a foreign market, it is essential to study the unique culture of the potential consumers. Concepts of how the product is used, psychographics, demographics, and political norms as well as legal normally differ from an entrepreneurs home country (Miller Parkhe, 2002). De Tienne Chandler (2004) suggest that entrepreneurs must consider five factors relative to the country and cultures that the business venture will inhabit. First, they must study foreign government regulations: patent, import regulations, t rademark laws, and copyright that affect their products. Second, they must know political climate: relationship between business and government or public attitudes and political events in a given country affect foreign business transactions. Third, they must consider infrastructure: packaging, distribution system, and shipping of their export product. Fourth, they must research distribution channels: accepted trade both retail and wholesale, service charges and normal commissions, distribution agreements and laws pertain to agency. And fifth, they must study competition: number of competitors in target nations and their market share, as well as their price, place, product and promotion. Additionally, they must find market size: of their product stability, size, country by country, and know what nations are markets expanding, opening, maturing, or declining (De Tienne Chandler, 2004). Eventually, entrepreneurs must understand culture of their products. Small businesses can study int ernational cultures by business travel, participating in training programs, reading the current literature, and undertaking formal educational programs. Small business, who wants to sell product on a worldwide basis must realize different standardization in each country. In some cases, goods must be adapted for different local markets if it is to be accepted and consumer goods always require much more adaptation (Johanson Vahlne, 2009). One issue related to international opportunity is why individuals in home countries are not the ones that take action on these opportunities, which would seem logical, as they are better positioned to notice. This question is especially important because research indicates that local firms usually have higher levels of performance than do foreign firms (Miller Parkhe, 2002). While the matter of liability of foreignness is present in some cases, this relates to firms competing in the same industry. Thus, when locals begin to imitate the foreign firm, they may in fact end up with higher levels of performance, because of factors such as lower lawsuit awards (Mezias, 2002). However, national average levels of entrepreneurship to uncertainty, opportunity, and cognition uncertainty avoidance are not identical across countries (Hofstede, 2001). This suggests that although it is possible that both a local and foreigner notice a specific opportunity at the same time, the local may not act fo r both the fear of failure and stigma attached to that failure in certain cultures (Lee, Peng, Barney, 2007). Thus, the potential entrepreneur must also be willing to endure the uncertainty associated with acting on these opportunities. To gain insight into effective professional task performance across cultures, an understanding of effective communication and psychological adaptation has to be complemented by an exploration of the effect of culture on task process. Over the last few years studies on cross cultural competencies in different professional fields have started to emerge. Examining the relationship between national culture and entrepreneurship is an important emerging subject matter in international entrepreneurship (Hayton, George, Zahra, 2002). The sociological viewpoint on entrepreneurship proposes that entrepreneurs are intertwined in a social framework and their cognitive process and behaviours are shaped by the interactions between the environment and entrepreneur (Zahr, Korri, Yu, 2005). There is also evidence of the impact of national cultural values on the characteristics and behaviour of individual entrepreneurs (Mitchell et al., 2002). Mitchell et al. (2002) confirmed that entrepreneurs share a set of cultural values, regardless of their national origin or cultural background. However, it appears that whilst some core values are shared across different countries and cultures, some of the behaviours of individual entrepreneurs reflect the value system of their respected national culture. With regards to adaptation in international entrepreneurship, entering into a foreign environment is not a transition for the business venture alone. The actors, international entrepreneurs, involved are also plunging into same the foreign environment (Hofstede, 2001). Entering a new culture means commencing to share a pattern of thinking, feeling, reacting, and problem-solving (Saee, 1999). Cross-cultural psychology argues that unfamiliar cultural territory negatively affects an individuals affective, both the sense making and cognitive mechanisms, and undermines the appropriateness and effectiveness of their behavioural responses (Maznevski Lane, 2004). This happens when individuals are unable to accurately perceive and interpret the alien cultural environment, nor explain or predict the behaviour of people with different cultural backgrounds (Maznevski Lane, 2004). Evidence suggests that exposure to a foreign cultural environment can cause culture shock, a psychological conditio n which adversely affects psychological and affective states (Johnson et al., 2006). Saee (1999) contends that opportunity identification competencies developed in an entrepreneurs home cultural environment may not be sufficient to perceive a high level of entrepreneurial self-efficacy about performing the task of identifying opportunities across borders and cultures. Cross-cultural studies have explored the challenges that a foreign cultural environment poses to human behaviour, cognition, and professional performance. Human behaviour is considered the coping mechanism that individuals consequently develop. Some researchers suggest that building this coping mechanism, in individuals, amounts to developing a global mindset or cultural intelligence (Maznevski Lane, 2004; Early Mosakowski, 2004). According to Maznevski and Lane (2004, p. 172), a global mindset is the ability to develop and interpret criteria for personal and business performance that are independent from the assumptions of a single country, culture, or context; then to adequately implement those in different countries, cultures, and contexts. Cultural intelligence is seen as the ability to interpret the foreigners behaviour the way the foreigners countryman would (Earley Mosakowsi, 2004). Cross-cultural competence is defined as the appropriateness and effectiveness of ones behavi our in a foreign cultural environment (Mitchell et al., 2000). Psychological adaptation is considered the centre point of personal traits and attributes that help generate internal responses in an unfamiliar environment by managing stress (Saee, 1999). Successful adaptation to a host cultural environment requires the abilities to be mindful, to tolerate ambiguity, and the ability to explain and make accurate predictions of strangers behaviour (Saee, 1999). This also includes the levels of anxiety and uncertainty that affect the intercultural encounter (Saee, 1999). CONCLUSION: International entrepreneurs actually face greater uncertainty than is generally common in more established businesses, which benefit from learning and experience, because international entrepreneurship is about the implementation of a new innovative business. There is an uncertainty to entrepreneurship and the role it plays in initiating the process. Mitchell et al., (2000) observes that entrepreneurial action is a result of overcoming and paralysis that is caused by the uncertainty that precedes the entrepreneurial act. Guillà ©n (2001) adds that the key concept that entrepreneurs create new combinations, which become the innovations that are the engine of economic growth. The entrepreneur is likely to see the opportunity as relatively certain. This is important with regards to international entrepreneurship in that exploiting an international opportunity requires more than dealing with operational certainty; there is also a high level of cultural uncertainty that the entrepreneur has to endure to ensure the new ventures prosperity. The volume of research on international entrepreneurship supports the notion that a period of domestic development is no longer necessary for many firms and that international entrepreneurship is possible at the time the firm is established or shortly thereafter. However, consideration must be taken with respect to the foreign culture a venture will go into and the psychological affects upon the entrepreneurs joining in the venture. Effective operation in the globalised economy requires that entrepreneurs develop new skills and competencies. Some of these skills and competences are needed to deal with national and regional cultural differences that are becoming intense with the continuance of globalisation (De Tienne Chandler, 2004). (Authors) believe that current and future international entrepreneurs need to develop cross-cultural competence to successfully identify business opportunities.

Ethical Issues Affecting Each Component of the Marketing Mix Essay

Ethical Issues Affecting Each Component of the Marketing Mix Ethical issues in businesses among other related issues like conflicts or success revolves around relationships. In today’s business world, it has become inevitable to built strong and effectives between all the key players in businesses. Key player in this case include shareholders, investors, customers, suppliers and managers who are responsible for the development of strategies aimed at attaining success (Carroll et al 403). The board of directors in every business has the mandate of giving direction and oversight making sure that the business does not stray from its course and remains relevant in achieving its objectives in a socially acceptable, legally acceptable and ethical manner. In many instances of unethical business conduct, there exists a certain degree of compliancy and knowing corporation which acts to perpetuate the acceptance of such conduct. Importantly, most ethical issues come into existence due t o conflicts in belief patterns and value conflicts regarding what is wrong or what is right. This occurs because ethical standards are a derivative of deeply-rooted personal believes and societal morals which may not be universally agreed upon. Ethical issues exist in all functional areas of the businesses including; finance, accounting, production, marketing, operations and even management. They involve practices like product safety, human resource management, plant safety, business practices and environmental problems among others (Carroll et al 412). The elements of the marketing mix are important aspects of the business which can be evaluated in the light of ethical issues. Marketing mix encompasses all the major areas of decision making affecting the marketing process and when carefully blended, desirable results for the organization are obtained. Marketing mix is important for all businesses as it shapes the function of marketing in both non-profit making and profit making organizations. As marketing managers make decisions about the overall process of marketing, they have to consider the specific elements of the marketing mix which include price, promotion, product and place and in other instances they are even supposed to consider the sub-elements in each element in order to satisfy the wants and needs of the customers. Marketing mix holds a special place in businesses in that it is the hub identifying the best and suitable marketing strategy. Its purpose is balancing all the elements in order to come up with an ideal mix of all the controllable  variables. As the markets demands change, the marketing mix also has to be changed in a manner which allows alignment with the goals and objectives of the organization. The external environment therefore plays a critical role in necessitating alterations and other changes in the marketing mix. One of the most fluctuating variables of the external environment is the customer; whose preferences and tastes change swiftly among other factors like brand loyalty (Stone 51). Given the importance of the marketing mix and the fact that all important aspects of the business revolves around it, it becomes a rather sensitive area in ensuring that regardless of the ambitions of the business, the management does not go overboard to affect its relationships with the oth er stakeholders who have any form of interest in the business (Tittle 12). Ethical issues usually arise when some of these relationships are affected or the moral fiber as defined by law or the society in which this business exists is coarsened. This means that the business has a responsibility of providing the society with good made adhering to all ethical issues and also of high quality. In looking closely at all the elements of the marketing mix and how ethical issues can affect them, it is important to point out that the essence of the businesses is not only to maximize profits but also to take care of consumers of the products, the employees and the environment. The product, which is one of the elements of the marketing mix, is a sensitive component with regard to ethical issues (Swarbrooke and Horner 30). The whole product life cycle is vulnerable to ethical issue right from the development to its elimination. Ethical issues may arise from product packaging. Since businesses survival depends on attracting and retaining customers, some businesses use p ackages which do not actually represent what they are offering. This may be in terms of underweight packaging or the use of colorful packages which do not really depict what’s inside. Ethical issues may also arise from the product testing especially for products like medication which must have many guidelines. Testing products on people is unethical and is prohibited by most societies. Cases of selling of banned goods are also many and this also involves the crossing of many ethical lines. It is highly recommended to ensure that all products entering the market are safe. Although â€Å"safe† in this case is subject to diverse interpretation, it is recommended that businesses disclose all the known harmful effect of product. This also touches on the  sensitive issue of genetically modified products which must be clearly labeled to warn the buyers. A very good example of ethical issues arising from particular products was coke’s crisis of 1999 to 2001. In this case, ethical dimensions were explored when people fell ill after consuming this soft drink. Much controversy also surrounded this case because school children fell ill after consuming this drink as the company had signed school contracts as a means of promoting the drink among the school children. The company took responsibility and recalled over 5 million cans under recommendation from the Belgium Ministry of Health. This ethical issues also touches on possible ethical issues which might arise in promotion as another factor in marketing mix. Pricing, which is one of the most regulated areas in marketing, has many possible unethical practices which might even not include illegality. There is price discrimination; transfer pricing, legal prohibitions, predatory pricing, and government price-fixing among other factors which might draw attention of ethical issues as far as ethical issues are concerned. There should be valid reasons governing the increase of prices of products to avoid taking advantage of the customer. The subjective and emotional nature of pricing avails many avenues of misunderstanding between the buyer and seller which might cause ethical problems. Common issues of this nature involve failure to disclose the actual price of the product and price fixing. Other acts pertaining pricing include dumping which is the selling of goods at a loss with the aim of increasing market share but do away with competitors and bid rigging. A case which was well explored was that of Ryanair which is an airline company. This company was faced by much controversy due to their pricing and advertising. Bodies like Advertising Standards Authority claimed that this airline company did not advertise the actual prices it was charging. Further criticism was raised because of the fact that, they were charging very low prices with the intent of spoiling the market opportunities for other players and resulted to great losses in the 2008/2009 financial year even for British airways. Although many of these companies claimed that it was due to increased fuel prices, Ryanair was the root cause because it did not hike the prices accordingly. Promotion employs different strategies like mass selling, personal selling and sales promotion to ensure the target market is informed of the existence of this product and the benefits if  using such product (Fraedrich et al 24). Since it involves modes of persuasive communication and the fact that it involves visibility advertising, it is frequently criticized part in marketing. One true fact about advertising is the fact that the earliest use of advertising was based on genuine reasons and practices which had no ethical issues. Currently however, many issues are coming up which has forced governments and other bodies to introduce regulations to avoid misleading of customers. The content in the promotions must meet high standards of advertisement maintaining truth and honesty. Honesty issues were well explored in the early 1950s when the advertisement of tobacco came under much criticism as it was being alleged in advertisements that is promotes health (Carroll et al 5). This of c ourse was found to be untrue and laws were set regarding false advertising. This is a very good example of unethical conduct which arose due to promotion and attracted a lot of attention from the press and government. It therefore became paramount that all the promoters tell the truth about their products to avoid offence against morality and also the law. Advertisements especially those which will be seen by children must not contain aspects of sex, violence or profanity as they might cross many ethical lines. Still in promotion, it is considered ethically inappropriate and illegal to promote products through negative advertising strategies such as attack advertising. Adverts should not directly attack the disadvantages of the competitor’s goods but should focus on advantages of their own. With advent of the internet, other forms of advertisement have also emerged some of which are considered unethical in nature. These include spam advertisements among other pop up windows which are unsolicited. Direct mail may also infringe on personal rights and therefore cross some ethical lines. The last element of the market mix to be considered is place. Place in this case covers many aspects leading to availing the product to the target market (Shimizu 13). Any product or service is of no value to the customer if it is not available at the right time and place. Ethical issues in the place element arise due to conflicts in the intermediaries of the distribution channel. The relationships in the channel of distribution cause much ethics related issues and these are brought mainly by power imbalance in these relationships. Ethical issues may come in as a result of listing fees which may be hiked and provide a discrepancy between the operations of  large suppliers and small suppliers. Corruption also comes in as a relevant ethical issue which can come in to the supply chain. Violation of the workers’ rights and the use of child labor and other practices like production in sweat shops or ignoring the safety, health or environmental standards can present an ethical problem in the element of place. Sweatshops have been a subject to much controversy in global business ethics. Examples of large corporations which have been implicated in this issue include Reebok, Gap and Nike. Wal-Mart’s case however has been much publicized where employees have been overworked or forced to work for extra hours without pay. Although Wal-Mart has been constantly denying this, there is mounting evidence especially from cases filed in 2005 which suggest that according to the company policy overtime should not be paid. The 1996 Wal-Mart Lee collection was also publicized when it was found that, many of these clothes were made in Honduras in sweatshops with worker laboring for up to 20 hours per day. Discrepancies in pricing of the same item from one place to another are also other forms of unethical acts arising in the element of place. At such a time when there is heightened capitalization of the economy, ethical issues have become critical and the consumer can no longer be ignored. All decisions regarding marketing planning must therefore uphold high ethical standards. Unethical corporate have the capability of inflicting much suffering to investors, employees and consumers. Works Cited Carroll, Archie, and Buchholtz, Ann. Business and Society: Ethics and Stakeholder Management. Ohio: Cengage Learning, 2008. Fraedrich, John, Ferrell O. C., Linda Ferrell. Business Ethics: Ethical Decision Making and Cases. Ohio: Cengage Learning, 2009 Shimizu, Koichi. Advertising Theory and Strategies.16th ed, Souseisha Book Company: 2009. Stone, Phil. Make marketing work for you: boost your profits with proven marketing techniques. Small business. Oxford: How to Books Ltd, 2001. Swarbrooke, John, and Horner, Susan. Consumer behavior in tourism. Oxford: Butterworth-Heinemann, 2007 Tittle, Peg. Ethical issues in business: inquiries, cases, and readings. New York: Broadview Press, 2000.

Things Fall Apart By Chinua Achebe - 1204 Words

Social rank and relative wealth play great roles in determining a person’s life in Umuofia society. Sometimes a man with sheer force of will cannot change his future through hard work. One of the main conflicts in Things Fall Apart by Chinua Achebe is the clash between Okonkwo’s determination to succeed, his free will, and fate – which seems to have less appealing things in mind. Okonkwo’s will plays a major factor in determining his future; he chooses to kill Ikemefuna with his own hands, he chooses to kill a government official, and in the end, he chooses to take his own life. However, the pre-destined conditions of his life, his father’s failures, and a series of unfortunate circumstances ultimately lead to Okonkwo’s downfall. There is an Igbo saying that when a man says yes, his chi, or spirit, says yes also. The belief that he controls his own destiny is of central importance to Okonkwo. Later, several events occur to undermine this beli ef, and Okonkwo is made bitter by the experience. As often happens with tragedy, the catastrophe comes through a complex mix of external forces and the character s choices. In the first place, it may be argued that what ultimately causes Okonkwo’s downfalls is the result of blind fate. Okonkwo’s various misfortunes may find their explanation merely in the random events of the universe. For instance, his exile arising out of his accidental killing of Ezeudu’s son at the old man’s funeral may be regarded as the product, not of someShow MoreRelatedThings Fall Apart By Chinua Achebe1415 Words   |  6 Pagesbook Things Fall Apart by Chinua Achebe does just that. This book should be taught in schools because it shows the values and traditions of Achebe’s Igbo culture, persistently teaches life lessons throughout the book, and shows the darker reality of European colonialism in Africa. Chinua Achebe is known as one of the most influential and famous authors to ever write. Chinua Achebe originates from an Igbo background and he expresses that through his writings very well including Things Fall ApartRead MoreThings Fall Apart by Chinua Achebe1324 Words   |  6 Pages Chinua Achebe chose to write his novels in English to reveal a deep response of his people to colonisation and to make that response understood to people all over the world. Things Fall Apart was written in English to teach people worldwide of the struggles he faced and the people of Nigeria faced growing up. Many authors and critics have written about Achebe’s ‘Things fall apart’ adding their valued opinion on what he was trying to say and his decision to write in English. In the followingRead MoreThings Fall Apart By Chinua Achebe Essay1203 Words   |  5 Pages who took their land for monetary gain. This was a dark period of time for Africans that live there. 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The Theological Aspects Of Embryonic Stem Cell Research

Stem cell research is currently being conducted in numerous countries around the world. There are two main types of stem cells currently in use for research, adult and embryonic. This report will discuss the theological aspects of embryonic stem cell research in the United States. As the name implies an embryonic stem cell is harvested from a human embryo. Embryonic stem cells are obtained in two separate ways. One way is to use discarded embryos from in vitro fertilization, where fertilized eggs are donated for research. The second way is when embryos are created specifically for stem cell research. As a Christian it is my view that obtaining stem cells for research from discarded embryos should be encouraged and continue, whereas†¦show more content†¦At this stage, the stem cells are pluripotent - they can develop into almost any cell type.†2 These cells are then removed from the embryo, which destroys the embryo in the process. This is the reason that many people h ave a problem with embryonic stem cell research. The people opposed to stem cell research do not differentiate where the embryos come from. When an embryo has been created for in vitro fertilization and later not used for that purpose, it should be available for stem cell research. In the You Tube video â€Å"The Ethics of Embryonic Stem Cell Research†3 the author presents a number of arguments both for and against the use of embryonic stem cells. As I was watching the video I became convinced that there may be no way to have both sides come to an agreement. There is a cartoon in the video with a man in his doctor s office who is completely against stem cell research. He then find out that he needs a stem cell procedure. This caused me to wonder, I wonder what he decided when he found out a stem cell procedure may save his life? The video shows that with positive benefits there is also a down side. One question that the video asks is â€Å"Is it acceptable for an embryo to be destroyed in an attempt to save suffering people?†3 That question seems to take on different meaning depending on which side of the suffering you are on. While I am sure there are some people who would say no to stem

Company Internal Environment Strengths And Weaknesses

Company Internal Environment – Strengths and Weaknesses The success of a brand must heavily reply on the competitive advantages of the company. SWOT analysis is a strategic tool to analyze enterprise’s own internal conditions, and sort out the advantages, disadvantages and core competitiveness (Power, 2008, p. 285). It also shows how these factors interact with each other and how they could be used to create effective success factors (Power, 2008). Below is the SWOT analysis of Easy Run. Strengths Weaknesses †¢ Growing market presence in the US with good reputation †¢ Tailor made fit and high quality product increased brand loyalty and repeat purchases †¢ High spend on RD, which has given Easy Run the experience to make predictions in trends and consumer tastes over the years †¢ Local employees are highly engaged, motivated and involved in decision-making †¢ Strong relationships with retail channel, suppliers and customers †¢ Low inventory because of lean production †¢ Unique product positioning with focused but diversified range †¢ Focused on a footwear market only, no product line of apparels and accessories †¢ Heavy reliance on relationships †¢ Limited manufacturing capacity as manufacturing factories overseas †¢ A market follower because of limited competence †¢ Limited funding available compared with major competitors †¢ Low brand awareness overseas †¢ Customers are price sensitive Opportunities Threats †¢ Expansion into new retail markets †¢ Creation of own concepts and styles †¢Show MoreRelatedMarketing Strategic Planning : Marketing Strategy1042 Words   |  5 Pagescapability and it’s changing marketing opportunities (Kotler, 2009). 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SWOT analysis is a form of situational analysis in which internal strengths and weaknesses of an organization, and externalRead MoreExternal and Internal Environment Analysis1565 Words   |  7 PagesExternal and Internal Environmental Analysis This environmental analysis will provide a complete external environmental scan designed to provide RoyalBlu Invites with the tools needed to identify the organizations strength and weaknesses. Furthermore, including an assessment of the company resources. This analysis will assess the organization competitive position and possibilities of growth. An explanation of how the external environment affects RoyalBlu Invites structure and organizational performanceRead MoreSwot Analysis : A Swot777 Words   |  4 Pagesidentify your organization’s strengths and weaknesses (S-W), as well as broader opportunities and threats (O-T). Developing a fuller awareness of the situation helps with both strategic planning and decision-making. â€Å"It is an analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and ide ntifying the internal and external factorsRead MoreThe Generic Business Strategy Used By Kraft Foods1377 Words   |  6 Pagesevaluate the generic business strategy used by Kraft Foods. Additionally examine internal and external components of the business environment such as strengths, weaknesses, opportunities, and threats. Consider whether the business’s broader strategy aligns with smaller strategy choices made within the firm. Background: Kraft Foods is currently the largest food company in the United States and the second largest food company in the world. 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However, Some findings from Menon (1999) and Hill and WestbrookRead MoreInternal Analysis and Swot Analysis Essay1166 Words   |  5 Pages3 Case: Internal Analysis and SWOT Analysis Dr. Kenneth McGee    Introduction Strategic planners analyze Strengths, Weaknesses, Opportunities, and Threats (SWOT) to determine internal and external threats to a company. â€Å"The SWOT analysis is a business tool available in the tool box of any small business owner† (Zahorsky, 2009). An internal analysis specifically covers the Strengths and Weaknesses portion of the SWOT analysis. The intent of this paper is to perform an internal Resource

Andrew Grove Free Essays

Intel Corporation is one of the world leaders in terms of microchip and microprocessor production. They embark on a mission of staying in the top and even formulated a strategy on exploring other forms of markets like that of digital health and wireless applications. They have also been known to forge tie-ups with leaders of the prospective markets they are exploring. We will write a custom essay sample on Andrew Grove or any similar topic only for you Order Now They have tied up with search engine Google for the wireless application as an example. Basically, Intel operations are divided into two sections: the communications group, known as ICG or Intel Communications Group; and the other section consists of the Intel Architectural business. The architectural section is responsible for the production of â€Å"platform† boards that consists of chipsets and microchips, which are used in desktop processors; including the Intel Pentium 4 processor and the Celeron. On the other hand, the communications section deal mostly with the production and development of wireless technology. They are mostly concerned with flash memory and cellular base-band technology. Intel is also known for large-scale tie-ups with other firms. Example of such is their tie-up with search engine Google for development of wireless technologies. They are also know to be connected with other firms like Microsoft and Dell. However, competition has been seen to catch up on the leadership oh Intel. Recently, a lot of clamors have been heard in the recent decision of present CEO Paul Otellini unveiled his plan to ship the micro-chip corporation to another industry. While the rest had their problems with it, former CEO Andrew Grove is all praises for it. The present CEO’s vision is to generally change the image of Intel starting from what Andrew Grove practically built. Starting from the scrapping of the famous â€Å"e† trademark of the logo, the company motto and even the brand, the company has been envisioned to undergo a transformation. A lot of managers seem to be against the changing of such things that made Intel a household name. Even the logo has been widely known in all parts of the globe. Meanwhile, Andrew Grove has been vocal about his approval of the said changes. In his opinion, they are of the same line of thinking that the present CEO has, that the company really has to undergo these changes in order for the to tell the world that even Intel is adjusting to the fast-paced growth of the industry and that they, as a company, should be at equal footing with the rest of the companies in the same industry.   He further stresses that it is a imperative for the company to show that the company exhibits a show of risk-taking and result orientation, accompanied also by the value of discipline. Before, under Grove’s supervision and Craig Barrett (Grove’s successor), the company focused on the production of microprocessors and took the lead in that industry for years. They helped give birth to the Information Age by producing more microchips and therefore, producing faster computers and ending in the development of micro processing. However, what Otellini had in mind is far from the former image of Intel, considering that he even wanted to change the logo and company symbol. He wanted to venture into uncharted regions of digital health industry and that of â€Å"platform† inventions. Despite the negative views about Otellini’s decision, Analysts from outside the company have cited other views about the subject, stating the fact that sometimes, change is needed for a big company to maintain solid advantage. They also added that other companies that survived the changes maintained industry leadership, just like what happened to Texas Instruments. However, the other side notes that it is not really that advisable to change their target industry and find a niche in other markets, although they have leadership in the industry they would leave. Adding firepower to the firepower of the critics, Intel’s competitor, AMD (Advanced Micro Devices) Inc., have scored a major point against Intel as it topped the company in terms of consumption as AMD Inc rose to a higher percentage in 2003 and analysts view that it would continue to rise against Intel unless Intel releases a new competitive line of processors in the future.. In the wireless communications field, Texas Instruments and Qualcomm Inc are still standing their own ground against Intel’s advances. Also, the two companies are planning to release their own versions of the platform that they assured, would gain more shares of the market than the new Intel is trying to build a niche on. On the other hand, many people are applauding Otellini’s vision of the new Intel, stating that they have never seen so much innovation in technology with respect to their fields, especially that of medicine. Also, people have actually seen the growth of the company, showing promise for a whole variety of new plans that are underway. Not only did the plans boost company ties with other companies, but also made their partner companies believe in the new flexibility of Intel. They promoted closer ties with cellular phone conglomerates Nokia and Samsung; had present tie-ups with Google; ties with Sony and Philips; and with those ties, Intel was able to produce and release different types of innovative products. There different developments have different market reactions. Some producing great results, others not. However, analysts are right in pointing out that other companies that are industry leaders also experienced changes that looked like they are headed nowhere, although in the end, they have proven that their change would actually pay off. And now, Intel took their lead and eventually took some changes in themselves as well. The problem would be, if they can maintain the positive effects and eliminate the negative effects of the changes. As for their decision of making the company over, It is. The industry’s reaction to it seemed to treat the decision as a smart move as well. Rival AMD Inc made some deals with ATI, and this showed that Intel produced a bigger threat than before. Also, the result of other marketing strategies in the release of the new products proved that Intel can really hold its own against the rivals in the industries that they have entered. They also showed that they can maintain the leadership in their industry, and even remodeled themselves into a more serious threat than that of before. However, not all decisions solely produce good effects. The negative effects therefore should be dealt with accordingly. Otellini did not make a bad move and he assured that he would produce good results which he did, although in the process nearly humiliating the company as he suffered near losses and continue to be behind Texas Instrument in the other fields. Intel not only made a good decision externally but also made breakthrough decisions internally, taking care of their employees better and giving chances to other fields like medicine to be at the same level as that of the engineers, the firepower of Intel before. May be this was a factor in Otellini’s equation that he devised for company growth. All in all, Intel has made a remarkable shift from the way it was thirty seven years ago. It also departed from the household figure that we recognized. Although this a bold move in there part and a rather risky one considering the old model is one of the main reasons why Intel made it to the top. In Otellini’s, and now Intel’s belief, It is one risky move that was designed to maintain leadership and gain advantages in other fields that they would pursue in the future. The market and business world would have to look out as Intel’s new look is bound to stay, and so is their new outlook in the business battles. BIBLIOGRAPHIES Intel Corp. Company Profile. Yahoo! Finance. Retrieved October 26, 2006. (http://biz.yahoo.com/ic/13/13787.html) Intel Corporation. Computer Business Review Online. Retrieved October 26, 2006. (http://www.cbronline.com/companyprofile.asp?guid=E82C088A-0488-4DB5-8953-9E316C2B44D1CType=Background) How to cite Andrew Grove, Essay examples

Oligopoly free essay sample

In recent years, American consumers preferences for soft drinks was changing from carbonated to non-carbonated soft drinks such as fruit juices or teas. This shift in taste gave Pepsi an excellent chance to challenge Coke. Pepsi purchased food giant Quaker Oats for $13 billion. Quaker Oats produces, in addition to Quaker oatmeal, a very popular non-carbonated soft drink called Gatorade with an annual sales of $2 billion. Pepsi also purchased a popular tonic called SoBe for $370 million. With these additions to its popular Tropicana orange juice, Pepsi now can challenge Coke at least in the non-carbonated soft drink market. Coke belatedly rose to Pepsis challenge, experimenting with 100 different non-carbonated soft drinks. Thus, with rapidly changing consumer tastes at work in the modern economy, an economic hierarchy of firms is constantly challenged and often changed. To maintain the oligopoly position, a firm must continue to expand by merger or diversification. More importantly, the firm must constantly search for the changing pattern of consumer taste and immediately adapt to it. We will write a custom essay sample on Oligopoly or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Otherwise, a mammoth firm of yesterday simply becomes a dinosaur of today. Did they buy out Pepsi yet? If not then they are not a monopoly. Are there a lot of competitors about the same size as Coke and Pepsi? If not then they are not a monopolistic competition. If these two have ruled out the other options then they must be an oligopoly, unless they are not an -opoly of any kind, but that seems unlikely to me.