Managerial Challenges while Pursuing Global Expansion
Type: Individual Project
Unit: Strategy Formulation and Processes
Due Date: Sun,11/27/22
Grading Type: Numeric
Points Possible: 125
Points Earned: Points Earnednot available
Deliverable Length: 3-5 pages (not including cover page and resource page)
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Assignment Details
Assignment Description
Assignment Details
Your company has determined that the time is right to expand globally. As a corporate manager within the organization, you have been assigned to identify and select a team of five to ten members from within the organization to explore and identify two to three managerial challenges associated with global expansion. You have been given three months to assemble your team and create a global expansion report outlining your findings to provide to the leadership team.
As the team leader, you realize you will need to identify how to successfully complete the assignment. Assuming you have completed the process of selecting your team, what are your next steps? Include in your strategy the following:
Analyze two to three team performance challenges that may arise and what corrective action you may employ to keep the project on track.
Discuss two advantages and two disadvantages of expanding globally from a leadership perspective.
Examine two management theories and discuss how each theory impacts managerial decisions from a global perspective.
Individual Project Rubric
The Individual Project (IP) Grading Rubric is a scoring tool that represents the performance expectations for the IP. This Individual Project Grading Rubric is divided into components that provide a clear description of what should be included within each component of the IP. It’s the roadmap that can help you in the development of your IP.
Expectation Points
Possible Points
Earned Comments
Assignment-Specific: An analysis of two to three team performance challenges along with the corrective actions to keep project on track was provided.
40
Assignment-Specific: Paper included discussion of two advantages and two disadvantages of expanding globally from a leadership perspective.
40
Assignment-Specific: Examined two management theories and discussed how each theory impacts managerial decisions from a global perspective.
35
Professional Language: Assignment contains accurate grammar, spelling, and punctuation with few or no errors. (APA formatting is required or style specified in assignment).
10
Total Points
125
Total Points Earned
Global Expansion Report
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Global Expansion Report
Global expansion has become a necessity for organizations that want a strong market hold and competitive edge. Hamilton and Webster (2018) state that many organizations are globalizing because of increased competition in local and global markets. Organizations that fail to globalize when facing such competition are forced into smaller domestic markets or out of business entirely. Thus, this company must explore global expansion to benefit from the power of international markets and business. However, it is also essential for the company to understand not only the benefits of global expansion but also the potential challenges. This report outlines the findings of the managerial challenges that the organization's leaders will encounter while pursuing global expansion. A team of five organizational members has prepared the findings.
Team Performance Challenges
Before proceeding to the findings on global expansion, this report will highlight potential challenges that may impact the team's performance in completing the project.
Conflict
One of the primary team performance challenges is conflicts between team members. The team comprises individuals from different departments who have never worked closely together. They have individual preferences and perspectives on how to accomplish goals, which can hinder cooperation in completing the team task (Buchanan & Huczynski, 2019). This will limit the team’s ability to work together towards a common goal.
However, this challenge will be managed by acknowledging the conflict and the differences between team members and then working towards achieving a favorable resolution. Each member will have a chance to share their viewpoints. Buchanan and Huczynski (2019) reveal that team members can reach a resolution when they feel seen and heard.
Lack of Trust
As mentioned earlier, the team members are from different departments and have never worked together. As a result, they may not be too trusting of each other. As Costa et al. (2017) reveal, it is more difficult to develop trust between teams than between individuals. Consequently, the lack of trust between teams affects team performance because it hinders close cooperation and interdependence.
This challenge will be addressed by engaging the team in trust-building activities such as trust pinball or meal preparation. According to Costa et al. (2017), such trust-building activities help team members develop interpersonal relationships, which are beneficial in trust-building.
Lack of Clarity
Another challenge is the lack of clarity on the task and goal of the team. According to Buchanan and Huczynski (2019), when team members are unclear about what needs to be done and achieved, they are more likely to be frustrated and unable to complete the task on time. It would also be difficult for them to cooperate towards a shared goal if they did not know the goal.
This challenge will be addressed through a clear statement and communication of the goal at the beginning of the task (Buchanan & Huczynski, 2019). Regular communication during the assignment will ensure that team members are still clear on the goal and that their efforts are aligned with that goal.
Advantages and Disadvantages of Expanding Globally
This report finds that global expansion is associated with benefits and risks that any company should be aware of when planning to internationalize. Such an understanding can help the company be fully prepared to maximize the benefits and minimize the risks.
Advantages
One of the main benefits of global expansion is business growth. According to Hamilton and Webster (2018), global expansion opens up new markets for organizations, giving them access to markets they previously had no access to. As a result, organizations serve more consumers, which increases sales and revenues. The new markets also account for an organization's geographical growth because it has access to more geographical markets. The type of growth stemming from global expansion is beneficial for organizations that operate in an already mature domestic market. Such markets are saturated, leaving no room for further growth.
Another benefit is that global expansion gives organizations a competitive edge. Hamilton and Webster (2018) indicate that firms that penetrate a new market before their competitors gain access to a broader customer base, which competitors lack. As such, global expansion allows companies to explore new markets before competitors. The first to enter a market ca...