D081 Innovative and Strategic Thinking - TASK 2

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Western Governors University *

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D081

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Management

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Jan 9, 2024

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Course/Assessment Code: C714 v.4 ( NNM2 ) and D081 v.4 ( QBM2 ) Student Name: Elora Hicks Student ID: 010800720 Date: 10/9/2023 Program Mentor Name: Amber Norman A. 1. Risk #1: One major issue is connected to quality control and the procurement of materials from India's plastics. If the company decides to invest in the development of a new product without knowing whether the materials will be suitable for the final product, it may have difficulty finding dependable and environmentally friendly materials elsewhere in the country, which may pose logistical challenges. 2. Risk #2: The second risk that a US company faces while entering the Indian market is financial loss. When a company's resources are not distributed properly, it suffers financial loss. According to the scenario, the NFDB requires the US company to employ plastics sourced from India in order to reduce trash in landfills. If the US company chose to use plastics sourced from India, it will need to invest considerable resources in either building a manufacturing unit in India or renting an existing one. This is a significant investment, and financial loss is possible if the associated risks, such as currency fluctuations, interest rates, and tax rules are not properly regulated. B1. 1. Strength #1: The company's distinguishing feature is its innovative culture and decentralized structure. This particular culture and structure enable a constant flow of fresh ideas as well as fast feedback. Furthermore, the organization has successfully encouraged partnership, simplified decision-making procedures, and built strong ties between its workers and founders. 2. Strength #2: Another competitive advantage of the US company is its reputation as a brand. According to the scenario, the brand was formed three years ago and has since gained significant attention across America. The company's credibility comes from its stellar reputation and exceptional customer service. Hopefully, this excellent reputation will encourage India to do business with the US company, giving the US company the opportunity to tap into the rising market.

B2. 1. Weakness #1: One internal shortcoming is a lack of cultural awareness. The open communication interface is used by the US corporation; other nations may not utilize it, and some may even consider it disrespectful to share your opinion to an elder or higher up without being asked. 2. Weakness #2: Another internal weakness is the company's limited global presence. Despite being well known in America, which is a strength, the company is not well known in other countries. Foreign workers may be apprehensive to work for an unknown business with some people even desiring to work for a local company to show national pride. B3. 1. Opportunity #1: The fishing business in India represents a huge external potential for the organization. This is due to the fishing industry's importance in the country, giving it a perfect market for marketing fishing equipment such as foldable boats. 2. Opportunity #2: The company may have little or no competition in India because it may be the first foldable boat maker to enter the market. With the lack of competition, the corporation would have the benefit of selling its boats in the market with ease. B4. 1. Threat #1: The biggest issue that the corporation may face is acquiring the preferred materials for boat building. India has enacted new legislation, rules, and industrial practices aimed at protecting the environment. As a result, in order to receive clearance from the National Fisheries Development Board, the company will be required to use only Indian- made plastic in the manufacture of their boats. 2. Threat #2: The second threat the corporation may face is investing a lot of money to relocate to India in order to have easier access to plastic resources in the country. To do this, the corporation would need to either buy or build a manufacturing facility, hire Indian workers, and begin manufacture of foldable boats using Indian plastic. Furthermore, because they are required to use Indian plastic, they would pay additional costs for testing waterproof coatings. Overall, the choice to transfer to India involves a significant commitment and financial investment. C. 1. Strategic Recommendation #1: Given the company's existing constraint of being only based in the United States and the potential issue of investing a significant amount in India to develop a local manufacturing plant, a well-rounded approach is recommended. To put such

a plan into action, the corporation should focus on developing strong connections with local plastic suppliers, allowing them to acquire the best costs for their products. 2. Strategic Recommendation #2: With limited competition in India, and the benefit of creating a boat with no environmental effect, it is recommended that this American corporation utilize the differentiation strategy. To put this strategy into action, the company should focus on increasing the value of its foldable boat by emphasizing that the company is using Indian- sourced plastic and a natural water-resistant coating as a means to justify the extra cost. C1. 1. Strategic Recommendation Justification: Making use of an integrated approach would provide the most benefits to the organization. They may establish links with the local population and get market insights by using this method. The company will ultimately be able to keep their vision statement, which aspires to make them the most sustainable entity in the fishing sector, in place. This goal may be met by using only recyclable plastic supplied locally, hence minimizing landfills in India. Furthermore, the corporation might show a strong sense of Corporate Social Responsibility. As a result, their chances of obtaining NFBD sponsorship will improve. In short, they may make contacts in India that will allow them to access resources and establish ties with the community, allowing for a smooth transition into the new market. D. References WGU Performance Assessment. (n.d.). https://tasks.wgu.edu/student/010800720/course/27020016/task/3405/overview

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