STR GM 581 Making Strategic Decisions 6
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STR GM 581 Making Strategic Decisions 6
Riordan Manufacturing has the advantage of having been in operations for a relatively long time since its founding. The experience has made the company popular at the local level and many people are already aware of the products and services that the company deals with. This gives it an advantage over new and emerging companies that will have to win the trust of customers to be properly operational.
Riordan manufacturing has a big capital base which it uses in financing its R&D activities and expanding or opening new branches in the global scenes. The wide capital base also allows it to be capable of financing its daily activities unlike other new companies that have to depend greatly on borrowed capital to finance many of their operations (Gelfand, 2006).
The good leadership and management in the company is an added advantage since the decision making add up to positive results for the company. Having an experienced managerial team that steers the company towards the success path is a big advantage for Riordan.
Structural, Leadership, and Cultural Considerations
In expanding and establishing its operations to the global scene, there are several structural, leadership and considerations the organization is to implement. These factors must be catered for as the company establishes operations in the global scene;
The company’s structure must be in line with the global structural expansion objectives that it has put in place. The company will create a compatible structure that ensures that roles and responsibilities to be delegated in foreign countries are done in a good manner and through proper communication channels. The company will ensure that it has a good management team that is in charge of the operations of management issues in the international scene (Gelfand, 2006). Instructions will flow in a hierarchical manner from the top, especially in decision making.
The company’s management in the foreign lands where operations are to be started will recruit employees who have experience in the respective fields and departments in the company. The supporting managers in the foreign lands to be hired will be experienced enough in the industry to avoid great risks and losses. Recruitment of experienced employees will save the company the monies that would be spent in training new employees who lack experience in their respective fields (Avolio, 1994).
The company which is highly experienced in management issues, in the new market, similar culture of competent leaders and employees. The leadership should be able to adjust easily to the new environments without complications or taking too much time that could cost the company a lot in terms of finances. Only those who have qualified in the cross-cultural training program will therefore be posted internationally. (Gelfand, 2006).
In the international scenes, will be assigned different roles and responsibilities. In delegation of their roles, there will be clear distinction of the roles and responsibilities to be played by every individual. This is to ensure that there is no overriding of roles and responsibilities and that there is accountability of every top manager in their respective area of jurisdiction. (Avolio, 1994).
Major management decisions to be taken by the leadership will be made after and in consultation with the management of the company at the international level. The leaders in the regional operations are allowed to take charge of smaller decisions and they should regularly report to the international management on any decisions they make (Gelfand, 2006).
The company will instill programs to facilitate a leadership and employee base to operate in the new global venture that is fully aware of the new location’s culture and more specifically language as an aspect of the new culture. The knowledge of the culture of the people where it intends to establish is important for many different reasons most important among them being the formulation of the most appropriate advertising strategies. The process of advertising could damage the company’s reputation and damage its image to the public who are the consumers if it is not in line with the cultures of a people (Avolio, 1994).
The managers and other leaders knowledge of the culture of the people is of great importance in ensuring that there is minimal conflict with the people. Knowledge of the cultures of the foreigners will help Riordan management team to adjust easily into the way of life in the environments where they will establish operations (Bass, 1985).
Supportive Marketing and Organizational Tactics
Before entering the new external market, a pilot study of the market niche has to be established. This is to help the management understand the new market in a better way in terms of how to handle the most important decisions. The management at the international level devices on the best entry strategy to be adopted in entering this market (Gelfand, 2006).
In the new markets, the company is to adopt intense marketing and advertising activities so that the company’s products presence in the market is established. Consumers are not likely to buy products that are just new, they are not aware of the quality of the products and products that have not been advertised regularly. Advertising is expected to increase the sales as well as the revenues of the company (Gelfand, 2006). Social media advertising is to be the most emphasized strategy in the new market.
In enhancing and increasing global growth and expansion to new markets, the company will apply a good pricing strategy where it is to set its prices lower than that of players and competitors in the markets where they are to venture. Together with lower pricing for its products, the company is to begin with giving discounts, and establish promotions for its products. These two are expected to attract customers in a big way and they will definitely prefer the company’s new products (Bass, 1985). Since the quality of the products is high, it could help the company to easily scoop a big part of the company’s market. Discounts and promotions will automatically cost the company a lot in terms of profits though this is expected to be momentarily after which the company would scrap them off to avoid losing profits. Successful entry into new markets could be a challenge and loss of profits for a short time is safer than incurring losses due to lack of consumption or low revenues from reduced sales (Avolio, 1994).
The company will adopt the mergers and acquisitions strategy if a market is a highly competitive one or where it takes long before a company establishes itself well. Mergers and acquisitions will help the company adapt easily to the new market environments and pick up quickly compared to direct investment. Mergers and acquisition is one of the best techniques for the company to enter into new markets since the company and through these, the company will not spend a lot of money or incur losses in advertising and other marketing activities (Bass, 1985).
The New Organizational Chart
The Company C.E.O
Board of Directors (At the International Level)
Board of Directors (At local levels)
Avolio, B. (1994). Improving Organizational Effectiveness Through Transformational. Thousand Oaks: Sage Publications .
Bass, B. (1985). Leadership and Performance Beyond Expectations. London: Collier Macmillan.
Gelfand, M. (2006). Cross-cultural organizational behavior. Annual Review of Psychology , 479-514.
STR GM 581 Making Strategic Decisions 6
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