Read Chapter 11 On Business Strategy Review PowerPoint
Read Chapter 11 On Business Strategyreview Powerpoint For Chapter 11yo
Read Chapter 11 on Business Strategy Review PowerPoint for Chapter 11. You are to apply any 2 Strategy concepts you learned from Chapter 11 and apply it specifically to your research for your ongoing Final Paper. You are to cite the page numbers and concepts and explain why you think they apply to your country’s global business plan that you are focusing on for your paper, including identifying any possible barriers or challenges. Please be specific in how it applies (words). Include the Business plan - Burkina Faso’s main export is 70% gold. Reference only Chapter 11, see attached. Also, do a reply for each response attached. As mentioned before, assignments in this online course also involve interactions amongst students in discussion boards each week where you are to read and respond to at least 2 of your classmate’s posts, which count as 10% of your grade for each assignment. This interaction is an important part of the course design, allowing students to learn from one another. Your opinions and civil divergent opinions are encouraged!
Paper For Above instruction
In this paper, I will apply two strategic concepts from Chapter 11 of the course material to the development of Burkina Faso's global business plan, with a specific focus on its primary export—gold, which accounts for approximately 70% of the country's exports. The two concepts I will focus on are Porter's Five Forces (Page 278-287) and the Resource-Based View (Page 290-299). These concepts are particularly relevant given the nature of Burkina Faso’s economy and its dependency on gold exports, which present specific opportunities and barriers in the global market.
The first concept, Porter's Five Forces, provides a framework to analyze the competitive environment of Burkina Faso’s gold industry within the global market. As outlined on pages 278-287, these forces include the threat of new entrants, bargaining power of suppliers and buyers, threat of substitute products, and industry rivalry. Applying this framework helps to identify potential barriers such as high entry costs, political instability, and fluctuations in global gold prices. For instance, the threat of new entrants is relatively low due to significant capital requirements and strict international mining regulations (page 282). However, the bargaining power of global buyers and refiners may be high, given their ability to influence prices and terms because of their size and market power (page 283). Additionally, political instability in Burkina Faso could exacerbate these challenges, affecting investor confidence and foreign direct investment.
Second, the Resource-Based View emphasizes leveraging unique country-specific resources, such as Burkina Faso’s abundant gold reserves and mineral wealth, as strategic assets (pages 290-299). This concept suggests that Burkina Faso could develop competitive advantages through effective management and utilization of its mineral resources. Specifically, the equal importance of these resources in sustaining export revenues (70% gold) highlights the need for policies that enhance resource management, value addition through local refining, and infrastructure development. An obstacle here involves potential resource depletion and environmental sustainability concerns, which could undermine long-term competitiveness. Applying the Resource-Based View, Burkina Faso can focus on strengthening its technological capabilities and cultivating strategic partnerships to add value locally rather than solely exporting raw gold, thus increasing national income and global market influence.
Furthermore, challenges such as corruption, political instability, and insufficient infrastructure pose barriers to the effective implementation of these strategies. For example, local corruption may hinder fair trade practices and deter foreign investment, while inadequate infrastructure impacts the efficiency of extraction, processing, and export activities. Therefore, aligning strategic initiatives to reinforce governance and infrastructure improvements, as suggested by Chapter 11, is critical for Nigeria to sustainably capitalize on its gold reserves.
In conclusion, by applying Porter's Five Forces and the Resource-Based View from Chapter 11, Burkina Faso can better understand its competitive environment and leverage its unique resources. Strategic actions should focus on mitigating barriers such as political instability, ensuring sustainable resource management, and developing local value-added capabilities to enhance its position in the global gold market. These insights aim to guide Burkina Faso’s policy and business strategies in creating a resilient, competitive, and sustainable gold export industry.
References
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