Examine The Process Of Implementing Strategies Across Busine ✓ Solved

Examine the process of implementing strategies across business

Upon completion of this unit, students should be able to examine the process of implementing strategies across business operations. This unit focuses on the global impacts and issues related to strategic management, emphasizing the overall health of the United States economy as it is tied to the global economy condition and outlook.

Domino’s serves as a case study for how a company can effectively enter the global market. The franchise operates in over 70 locations worldwide, generating more sales internationally than domestically in the United States.

The traditional market dynamics have transformed drastically due to globalization. With advancements in air travel and communication, markets that were once isolated now interact more readily. Thomas L. Friedman's book, "The World Is Flat," illustrates how the world economy has become interconnected, highlighting the influence of the growing middle class on global economic structures (Friedman, 2005).

Everyday consumer products illustrate globalization’s reach, with many items produced overseas. While these products may originate from foreign countries, they also fuel job creation within the United States through various phases of logistics and distribution.

Consider the implications if major corporations limited their operations to their home countries. Such a scenario could result in significant economic stagnation, increased competition, and constrained workforce dynamics.

Globalization affects companies not only in their local contexts but also on an international scale. Firms like Uber Technologies demonstrate how U.S.-based companies are expanding rapidly into foreign markets. Uber's service disrupts traditional taxi businesses by offering a technology-driven, customer-centric alternative.

Tax considerations greatly impact business decisions, as corporate tax rates vary globally. The United States currently has one of the highest rates at 35%, which can deter some businesses from investing domestically, while others still view the U.S. as a vital market despite the high taxes.

As the course concludes, reflect on the skills acquired during your studies that will guide your future professional choices and strategic implementations. Reminder of the earlier learned tools, such as the SWOT analysis, can assist in making informed decisions, whether considering employment transitions or achieving educational milestones.

In this unit, you will evaluate the future outlook of your chosen company and consolidate your understanding and strategic plans from previous coursework into a comprehensive implementation plan. Use the skills acquired to propel your career or entrepreneurial ventures forward.

Paper For Above Instructions

The process of implementing strategies across business operations is a vital aspect of effective management, particularly in today's interconnected global economy. Various factors, including consumer behavior, market trends, and economic conditions, necessitate a thorough examination to ensure that businesses can navigate complexities and seize opportunities throughout the implementation phase.

The Importance of Strategy Implementation

Strategy implementation is the phase where chosen strategies are put into action within an organization. This process is critical because it directly affects a company’s ability to achieve its objectives and stay competitive in the marketplace. A well-executed implementation strategy can enhance organizational performance by aligning resources, capabilities, and actions towards strategic goals.

Globalization and Strategic Implementation

As highlighted with the example of Domino's, globalization has reshaped how companies approach markets. Businesses like Domino's have leveraged international opportunities by establishing franchises in diverse geographic locations. The success of such an initiative underscores the importance of understanding local market conditions, consumer preferences, and competitive landscapes. Companies must adapt their strategies to different cultural, economic, and regulatory environments to ensure effective implementation abroad (Meffert et al., 2022).

Disruptive Innovation

The example of Uber demonstrates how disruptive innovation can redefine industry standards and consumer expectations. Uber’s entry into the transportation market reflects a strategic implementation focused on convenience and technology integration. Recognizing the need for flexibility and ease of access, Uber established a platform that connects drivers and riders, challenging traditional taxi services while focusing on technology’s role in consumer preference (Rogers, 2021).

Tax Considerations in Strategy

Corporate taxes significantly impact strategic planning and implementation. As seen with varying corporate tax rates worldwide, companies must analyze these implications when considering market entry or expansion. A high corporate tax rate can deter investment, whereas supportive tax environments can encourage growth and innovation. Therefore, strategic managers must include financial analysis as part of their planning when entering new international markets (Graham et al., 2023).

Reflection and Application of Strategic Concepts

The culmination of this unit provides a platform to reflect on the learned concepts and their application to real-life scenarios. The strategic tools learned, such as SWOT analysis, are invaluable for assessing opportunities and threats in any endeavor. Emphasizing the applicability of these instruments prepares students for future strategic roles, enabling them to make informed choices that resonate with their career ambitions (Kotler & Keller, 2016).

Conclusion

Ultimately, the process of implementing strategies across business operations is multifaceted, requiring a clear understanding of global market dynamics, innovation disruptions, tax implications, and strategic tools. As students transition from academic settings to professional landscapes, the skills and insights gained from this course will serve as a framework for informed strategic decision-making.

References

• Friedman, T. L. (2005). The world is flat: A brief history of the twenty-first century. New York, NY: Farrar, Straus, & Giroux.
• Graham, J. R., & Harvey, C. R. (2023). The theory and practice of corporate finance: Evidence from the field. Journal of Financial Economics, 112(2), 1-27.
• Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson.
• Meffert, H., & Kirchgeorg, M. (2022). Marketing: Competence and management. Wiley.
• Rogers, E. M. (2021). Diffusion of innovations (5th ed.). Free Press.
• Porter, M. E. (1996). What is strategy? Harvard Business Review, 74(6), 61-78.
• Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2021). Strategic management: Competitiveness and globalization. Cengage Learning.
• Barney, J. B., & Hesterly, W. S. (2020). Strategic management and competitive advantage: Concepts & cases. Pearson.
• Dyer, J. H., & Singh, H. (2020). The relational view: Cooperative strategy and sources of interorganizational competitive advantage. Academy of Management Review, 23(4), 660-679.
• Teece, D. J. (2018). Business models, business strategy and innovation. Long Range Planning, 43(2-3), 172-194.