NNM2 \u2014 NNM2 TASK 1: MARKET ENTRY OVERVIEW<\/p>\n
BUSINESS STRATEGY \u2014 C714<\/p>\n
PRFA \u2014 NNM2<\/p>\n
TASK OVERVIEWSUBMISSIONSEVALUATION REPORT<\/p>\n
COMPETENCIES<\/p>\n
3063.1.8\u00a0:\u00a0The Impact of Innovation<\/p>\n
The graduate identifies the impact of innovation in personal and professional settings.<\/p>\n
3063.1.9\u00a0:\u00a0Techniques of Strategic Management<\/p>\n
The graduate utilizes evidence-based techniques to make strategic decisions.<\/p>\n
3063.1.10\u00a0:\u00a0Business Strategy and Analysis<\/p>\n
The graduate applies appropriate business practices to formulate recommendations that impact organizational effectiveness.<\/p>\n
INTRODUCTION<\/p>\n
Today\u2019s business environment is characterized by a competitive intensity that requires innovative thinking and strategic decision-making competencies. As a business professional, it is essential that you apply the principles of design thinking and strategic decision-making to positively influence the effectiveness of a business in its markets. In this task, you will provide a market entry overview, using the following scenario.<\/p>\n
SCENARIO<\/p>\n
A U.S. fishing boat manufacturer is known throughout the United States for its innovative approach to product design, lean manufacturing, and responsive customer service since its start three years ago. The mission statement of the company is \u201cWe will provide the most innovative customer-driven design and growth in the industry.\u201d The founders\u2019 ideals for the company are described in the vision statement: \u201cWe will be the most sustainable company in the industry.\u201d The company\u2019s ethical statement that guides all conduct and decision-making is \u201cWe will make decisions that are sustainable for customers and the environment.\u201d<\/p>\n
The company\u2019s founders have created an organizational culture of innovation. They have provided incentives for employees\u2019 creative ideas and created testing laboratories where customers use the products and provide design feedback. The founders have also invited innovators in other industries, such as gaming and information technology, to improve on the designs. The founders have cultivated a company culture in which employees and founders are considered equal partners. The company structure is decentralized, and all employees can access the founders at any time for collaboration, shared decision-making, or relationship building. All company decisions are evaluated by all employees to ensure that everyone is committed to the decisions.<\/p>\n
The company has identified an emerging global market opportunity in India for its products. Successful sales in India could represent a critical moment for the company if the company establishes strategic partnerships that will increase the likelihood of product success. The founders hope to capture profits and market share and expand into other parts of Asia within the first year of selling products in India.<\/p>\n
Research indicates market potential for the company\u2019s sales in India because of the importance of the fishing industry in the country. Fishing and aquaculture are primary industries in the coastal regions of India. Economic zones have been established to support the over 14 million people who are an important part of the fishing industry. This industry makes up 1% of the nation\u2019s gross domestic product and 6.56% of global fish exports (Department of Fisheries, 2019).<\/p>\n
The company\u2019s goal of the market expansion into India is to be the first foldable fishing boat manufacturer reaching the country. An origami-inspired foldable fishing boat is the company\u2019s most popular product. This boat comes designed as a plastic carrying case that unfolds into the water like an origami paper boat. This boat is suitable for uses in calm water, and the boat can be recycled. The product retails for U.S.$200.<\/p>\n
Traditional fishers use nonmechanized boats, which would be ideal for the foldable boat\u2019s entry into the market. Laws and regulations surrounding the use of nonmechanized boats favor importing foldable boats, which would be easy for fishers to carry from home to the water. The business climate in India is open to new partnerships to improve the fishing experience for those who preserve the natural ecosystem with nonmotorized boats. The National Fisheries Development Board (NFDB) promotes the use of natural fishing equipment to reduce disruption to the fishing ecosystem in India (National Fisheries Development Board, n.d.).<\/p>\n
The U.S. boat manufacturer\u2019s founders met with the NFDB to request an endorsement for their foldable boats because of the product\u2019s sustainable design and net-zero environmental impact. The founders discovered that the NFDB would only endorse the boat if it was made of plastics used in India in order to reduce the waste products in the nation\u2019s landfills.<\/p>\n
This endeavor would require the U.S. company to make a significant investment in India. The company would need to purchase or build a manufacturing facility, or it would need to contract with a facility owner to secure a manufacturing location. It would need to employ Indian workers. Lastly, the company would have to manufacture a new foldable boat made from used plastics in India with an environmentally friendly, waterproof coating.<\/p>\n
The new foldable boat could be designed in several ways, and the company would need to test a series of paper products and waterproof coatings to determine which would be suitable for fishers in India. The fishers range in age from 13 to 70, so the design would need to be comfortable and portable enough for all fishers in this target group.<\/p>\n
The company decides to hire Indian fishers to help design the product to reach this market. These fishers will provide qualitative, open-ended conversations and data that will be valuable in communicating the product\u2019s features and benefits to other fishers. The product will be tested by a variety of fishers that represent different sectors of the fishing industry, different regions, and different cultural segments. Testing will provide generalizable, qualitative data about the product use and effectiveness.<\/p>\n
REQUIREMENTS<\/p>\n
Your submission must be your original work. No more than a combined total of 30% of the submission and no more than a 10% match to any one individual source can be directly quoted or closely paraphrased from sources, even if cited correctly. The similarity report that is provided when you submit your task can be used as a guide.<\/p>\n
\u00a0<\/p>\n
You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course.<\/p>\n
\u00a0<\/p>\n
Tasks may\u00a0not\u00a0be submitted as cloud links, such as links to Google Docs, Google Slides, OneDrive, etc., unless specified in the task requirements. All other submissions must be file types that are uploaded and submitted as attachments (e.g., .docx, .pdf, .ppt).<\/p>\n
\u00a0<\/p>\n
A. \u00a0 Discuss aspects of the company from the provided scenario by doing the following:<\/p>\n
1. \u00a0Describe in detail how the company\u2019s culture could affect the market entry strategy.<\/p>\n
2. \u00a0Discuss in detail whether the organizational structure is an advantage or disadvantage to the company and explain why.<\/p>\n
3. \u00a0Describe in detail how\u00a0each\u00a0of the following aspects from the scenario affects the company\u2019s decision-making process:<\/p>\n
\u2022 \u00a0 company culture<\/p>\n
\u2022 \u00a0 organizational structure<\/p>\n
\u2022 \u00a0 strategic direction, including mission and vision statements<\/p>\n
\u00a0<\/p>\n
B. \u00a0Discuss the company\u2019s product from the provided scenario by doing the following:<\/p>\n
1. \u00a0Describe specific characteristics of the emerging market that affect the company\u2019s product.<\/p>\n
2. \u00a0Discuss how a product design change would meet the emerging market characteristics identified in part B1. Support this discussion with details from the scenario.<\/p>\n
a. \u00a0Discuss in detail\u00a0each\u00a0of the stages of the design thinking process the company would undergo in the design of the product for the emerging market from part B2.<\/p>\n
\u00a0<\/p>\n
Note:\u00a0Remember that\u00a0design\u00a0thinking is\u00a0not\u00a0the same as the\u00a0decision-making\u00a0process from part A3.<\/p>\n
\u00a0<\/p>\n
b. \u00a0Choose\u00a0three\u00a0of the following aspects from the scenario, and provide a detailed discussion of their effect on the design thinking process for the product from part B2:<\/p>\n
\u2022 \u00a0 company culture<\/p>\n
\u2022 \u00a0 emerging market culture<\/p>\n
\u2022 \u00a0 company ethics<\/p>\n
\u2022 \u00a0 emerging market ethics<\/p>\n
\u2022 \u00a0 organizational structure<\/p>\n
\u2022 \u00a0 global legal systems<\/p>\n
\u00a0<\/p>\n
C. \u00a0Discuss in detail how the company\u2019s ethical statement from the scenario influences the market entry strategy.<\/p>\n
\u00a0<\/p>\n
D. \u00a0Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.<\/p>\n
\u00a0<\/p>\n
E. \u00a0Demonstrate professional communication in the content and presentation of your submission.<\/p>\n","protected":false},"excerpt":{"rendered":"
NNM2 \u2014 NNM2 TASK 1: MARKET ENTRY OVERVIEW BUSINESS STRATEGY \u2014 C714 PRFA \u2014 NNM2 TASK OVERVIEWSUBMISSIONSEVALUATION REPORT COMPETENCIES 3063.1.8\u00a0:\u00a0The Impact of Innovation The graduate identifies the impact of innovation in personal and professional settings. 3063.1.9\u00a0:\u00a0Techniques of Strategic Management The graduate utilizes evidence-based techniques to make strategic decisions. 3063.1.10\u00a0:\u00a0Business Strategy and Analysis The graduate applies […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10],"class_list":["post-106623","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing","tag-writing"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/106623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=106623"}],"version-history":[{"count":0,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/106623\/revisions"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=106623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=106623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=106623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}