...------------------------------------------------- Contents 1. Background of the Study 1 2. Corporate Governance and Social Responsibility 3 2.1. Introduction 3 2.2. Composition of BOD’s 4 2.3. Corporate Social Responsibility programs 4 3. Environment Scanning and Industry Analysis 6 3.1. Current trends of external environment 6 3.2. Industry analysis through Porter’s 5 Forces Model 9 4. Internal Environment Scanning and Organizational Analysis 10 5. SWOT Analysis 15 6. Design strategic purpose 19 6.1. Vision Statement of StretchLine 19 6.2. Mission Statement of Strechline 19 6.3. Objectives of Stretchline 19 6.4. Gap Analysis of Stretchline 20 7. Strategy development 21 7.1. BCG Matrix 21 7.2. Growth Strategies 22 8. Strategy in Action 26 9. Strategic Control 29 9.1. Procedure of controlling 29 9.2. Strategic controlling tools 29 Background of the Study It is fact that every country has 3 sections contribution to make the GDP like agriculture, industry and services. Industry has been invented to the Sri Lanakan market since 1977 with the industrialization policy adaption. Then apparel industry has great contribution to the Sri Lankan economy tremendously. It provides not only the massive export income but also novel technology with opportunities to unemployment. Sri Lankan economy gained GSP+ due because of perfectiveness in apparel industry. Apparently when illustrating factors in apparel industry the trade...
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...International Business MBAE Group Assignment 5/23/2013 Submitted By: Tamima Shan Chowdhury, ID: 0712270987 Table of Contents Contents | Pg No. | Introduction | 4 | Part A: Importance of SWOT | 5 | Part B: Importance of Stakeholders | 7 | Part C: Importance of PESTLE Analysis | 8 | Part D: Modes of Entry | 9 | Part E: Importance of Cultural Implication | 11 | Part F: International Human Resource Strategy (IHRS) | 15 | Conclusion and Justification | 20 | List of References | 21 | List of Figures Figure | Description | Page No. | 1 | Components of SWOT Analysis | 5 | 2 | Components to be considered in PESTLE Analysis | 8 | 3 | Macro Environmental Forces Impacting any Organization | 10 | 4 | Modes of Entry for International Businesses | 11 | 5 | Hofstede’s Cultural Dimensions- Comparison between Thailand and Norway | 17 | Introduction The globalization of the world economy has prompted organizations to expand their business market ventures. One of the strategies through which an organization can expand their business in the international context is by operation as a multinational company (MNC). The characteristic of a MNC is that it operates in multiple countries. The transformation towards adaptation of the MNC strategy has been due to the advantages the organization can benefit from compared to the other strategies. With the advent of improved communication and the advancement of technology, organizations such as Telenor have...
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...Variations In Human Resource Management Based On Cultural Dimensions Tyrone Kelly Saint Leo University We recognize that we exist in a global economy. Advances in telecommunications and Internet technology have literally placed connectivity with the world at our fingertips. This evolution is a catalyst for people of various nations who would not ordinarily interact, to collaborate, work much closer, more intimately and more frequently than ever before. This is a very stimulating time, yet it is also challenging for Human Resource Management teams in administrations all over the world. Questions such as, what are the cultural business norms or taboos that one should be sensitive to, or how to interact in a business setting with someone of another culture will inevitably arise. Thus, learning the people, culture and work ethic of a host nation is just as important, if not more so than learning about its business, finance and engineering infrastructures. The requirements of developing strategies, organizing projects, and motivating individuals to achieve and maintain competitive advantage for joint ventures is essential. Just as important is the development of sincere relations with people from around the world. Understanding key element of cultural diversity will be critical in this endeavor. No matter where you are in the world, people expect to be treated with respect and honor when you are guests in their country. Attempts to change others to fit your paradigm, e.g....
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...Variations In Human Resource Management Based On Cultural Dimensions Tyrone Kelly Saint Leo University We recognize that we exist in a global economy. Advances in telecommunications and Internet technology have literally placed connectivity with the world at our fingertips. This evolution is a catalyst for people of various nations who would not ordinarily interact, to collaborate, work much closer, more intimately and more frequently than ever before. This is a very stimulating time, yet it is also challenging for Human Resource Management teams in administrations all over the world. Questions such as, what are the cultural business norms or taboos that one should be sensitive to, or how to interact in a business setting with someone of another culture will inevitably arise. Thus, learning the people, culture and work ethic of a host nation is just as important, if not more so than learning about its business, finance and engineering infrastructures. The requirements of developing strategies, organizing projects, and motivating individuals to achieve and maintain competitive advantage for joint ventures is essential. Just as important is the development of sincere relations with people from around the world. Understanding key element of cultural diversity will be critical in this endeavor. No matter where you are in the world, people expect to be treated with respect and honor when you are guests in their country. Attempts to change others to fit your paradigm, e.g....
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... | | | CONTENTS Terms of references 3 Methods of investigation 3 Findings 3 Conclusions 17 Recommendations 17 Reference 18 Bibliography 18 Words: 3517 1.0 Terms of reference In order to complete International HRM unit task, a formal report has been requested. The task is to carry out an investigation and undertake a role of Management Consultant to look into the issues influencing movement of new plant to other locations and consider HR strategy for Haelec. Following subjects: cultural differences, implementing practices within different cultures, explanation what are the difference between integration and differentiation, managing people in international context and clarification of comparative and international HRM concepts....
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...Cross Cultural Communications between Canada and Japan Management 340 December 2, 2010 Executive Summary Japan witch is located off the eastern edge of Asia has a current population of 127 million people. Japan witch operates as a free market has the 3rd largest economy in the world and has a labour force of over 65 million people. In Japanese culture is expected that employees have lifetime commitment to their employers. The Japanese people recognize responsibility and work as extremely important characteristics of their culture. The responsibilities are divided into very small details and are incorporated into a family-style working environment. Business leaders and management participate in all activities. The employees in Japan are motivated by private recognition, the corporate missions of the company, stability, and most importantly being part of a winning team. Formal meetings are considered times for employee to share ideas and visions. In Japanese culture employees can contribute regardless of status. Furthermore informal meetings are seen as occasions to build personal relationships and should contain no direct business discussions. Since Japan has one of the most indirect languages, and many messages are metaphorical it is important to refrain from saying terms such as “No” and “You”; these terms can be seen as rude and should be placed with appropriate terms. Instead of saying “You”, refer to contact by their last name...
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...The Effects of Culture on International Banking Disclosures George Hooia* aGriffith University, Australia Abstract This paper investigates the influence of national culture on banking disclosures. Seventeen developed and developing countries with a representative sample of 37 listed domestic commercial banks were examined in 2004. Long-term orientation is found to be a non-significant cultural value with banking disclosures. The explanatory power for banking disclosures is found to be similar to the findings in Gray and Vint (1995) with a cross-section of industries. More importantly, this study recommends that long-term orientation should not be used as part of the cultural framework for disclosures due to bias data. Hence, Gray’s (1988) hypothesis on the secrecy / transparency dimension should be maintained with respect to the original four cultural values. JEL Classification: G21, M41, O57 Keywords: Culture, banking disclosures, transparency 1. Introduction The objective of this paper is to report on the empirical findings of the two research questions proposed by Hooi (2004) that may improve the Gray and Vint (1995) model of cultural influence on accounting disclosures. The first proposal was that extending the Gray and Vint study with the new inclusion of Hofstede and Bond’s (1988) cultural value of long-term orientation gives the opportunity to better understand the association between national culture and accounting disclosures. The second proposal...
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...Autumn Barnett LTO Case Analysis #2 1) Describe Lululemon's organizational culture. What value does the culture add to the organization's performance? Culture includes “observed behavioral regularities that occur when people interact, the norms that evolve in close working groups, the dominant values espoused by an organization, the philosophy that guides an organization’s policy toward employees and customers, the rules for getting along with other people in the organization, and the feeling or climate of a particular organization.” Founded in 1998, Lululemon is a specialty retailer of yoga inspired athletic apparel. By 2008, the publicly traded organization earned $350M in revenues, sold its product in over one hundred stores, and employed over three thousand employees. Lululemon’s mission “to create components for people to live longer, healthier, more fun lives,” core values of quality, product, integrity, balance, entrepreneurship, greatness, and fun, and manifesto are known to many within the organization and even more outside of the organization. Lululemon’s mission and core values drive its culture and many of the decisions the company makes. In the research and development of its products, Lululemon employs local ambassadors (athletes and fitness professionals) to give feedback on the product, in the form of focus groups, as they truly understand and have the ability to impact the local community. These ambassadors, in many cases loyal consumers of...
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...Running Head: ASSIGNMENT HR Policies and Practices [Name of Writer] [Name of Institution] HR Policies and Practices Introduction Managers in the twenty-first century are being challenged to operate in a complex, interdependent, and dynamic global environment. Due to globalization, the international dimension of management has become a major challenge to countries, institutions and people. International management is becoming more important within the academic setting. International management is a process of developing strategies, designing and operating systems, and working with people around the world to ensure sustained competitive advantage. This essay identifies the challenges of operating in different national cultures for international managers by using Hofstede’s theory. In addition, the essay explains international skills and knowledge’s required by managers to be successful in different countries (Brewster 2001 .Pp. 99-119). Discussion Human resource management is in the selection of policy and techniques related to human resource management agency (Adler 1997 pp.39-59). Taken together, these techniques and preferences are messages to employees, managers and interested persons abroad about the value of the agency placed on human resources (Mathis 2000 Pp. 66-76). Unfortunately, international managers have had to adopt sensible policies in the field of organization for fixing the responsibility and cost control. First, employers...
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...cross-cultural alliance to become more effective due to globalisation having a significant impact on the personal characteristic in the workforce because of the increasing cultural diversity (Lloyd and Hartel, 2010). Ferraro (2005) argues that globalisation is not just a passing trend but has submerged acting as a replacement for the cold war system. Therefore this reflective portfolio aims to explore some of the theories surrounding cross-cultural behaviour in order to relate and understand the behaviours of the cultures in respectively Denmark and the US. However in order to do so, a definition of the meaning culture will be primarily discussed and what stereotypes Denmark and the US the authors carries toward both countries. Through the analysis and the information gathered from the theories, potential opportunities and difficulties will be identified between the two countries cultural diversity in relation to motivation, teams, communication channels and conflict and dispute resolution. Lastly, the essay will evaluate to author’s personal development and learning in the context of her own cross-cultural behaviour and understanding by comparing her stereotyping to the findings identified above, and to which areas she still needs to develop, into becoming an effective leader of today’s global society and hospitality industry. 1.2. Defining the Meaning of Culture The impact of culture...
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...main office at the beginning. After years of selling and hard work on reaching monthly quotas and mostly sell more than it, Defender became one of the largest security dealers in the Midwest. Then, they become dealers of other products like Dish Network Satellite TV, True Energy Smart Air, Williams Comfort Air and Outsource Sales Center. Defender also encourage self improvement and leadership by sending their employees for training. In conclusion, they believe that business do not grow, people do. 2.0 VISION AND MISSION STATEMENT Defender is striving to be best in the world at attaining customer by providing them the top brand-name products and services that could improve the lives of homeowners. Defender Direct has developed such a strategic vision that directs the company of where it is heading and maps a future business path. On the other hand, its mission statement covers four areas. These four areas describe the company’s present business purpose likewise, what they do. First, the company acquires customers by serving their customers the best service and products. Second, the company uses its unparalleled direct marketing capability to create leads. Third, the company transforms leads into sales like no other. Lastly, the company caters customer experience with world class installations. 3.0 SOCIAL RESPONSIBILITY AND ETHICS Being one of the leading dealers for home security and digital communication products, Defender’s has never forgotten their part to contribute...
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...Textile Company, the Chinese partner, is looking to enter the domestic Chinese market and expand its manufacturing capacity through job growth, in line with local government pressures. My recommendation is to first focus on what is best for the JV given its situation and opportunities – which is to grow through acquisition and focus on expanding its current clothing products into the Chinese Domestic market. From that analysis with the implied 4% ROI, Heartland should to exit the JV and invest in entities that better meet its needs and expectations in countries that are more attractive to its needs. Finally in the future Heartland should be more careful when entering into JV agreements so that all parties have an appreciation for cultural differences, a common understanding of objectives and directions that are embedded in the JV agreement. Note – the Executive Summary is one area that is repetitive of other sections given its nature. B. Industry Dynamics: The Zhong-Lian Joint Venture (JV) is currently manufacturing clothing for the US mass market, a strategic group within the overall apparel industry (versus high end fashion brands). Their clothing is sold through retailers such as Walmart and Target. Customer value must be provided to the retailers through reasonable quality goods at low prices. Profits are made through low cost manufacturing processes and scale. If the company pursues the higher end fashion group, then the appeal of the garments becomes key, building brand...
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...untapped region. In Korea, recent political changes have opened its economy to foreign investors and businesses. Korea’s strong economic growth provides Lowe’s with the ideal situation of opening up stores before their competitors. Based on research I conducted, this assessment considers the potential of expanding Lowe’s into the Korean market. With any major investment, it is important to consider the monetary and non-monetary aspects including gaining an understanding of the culture, the ideal management approach, past and future trends, along with political roadblocks. In this paper, the following information provides a roadmap to the decision-making process. First, an assessment of the Lowe’s vision, mission, and promise are discussed and compared to the similarities and differences within Korea. Then, an analysis considers Korean trends that support the expansion of Lowe’s. Next, a culture assessment of Lowe’s base country (USA) is compared against Korea including management styles to consider for the local corporate office and stores. Lastly, a communication strategy is discussed based on the cultural assessment and offers best practices for the expansion of Lowe’s into Korea. This paper is intended to assist Lowe’s senior managers begin an assessment of expansion into the Asian market via Korea by highlighting key factors necessary for success. Company Overview Founded in 1946 and based in Mooresville, N.C., Lowe's is a FORTUNE® 100 company and is the second-largest...
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...potential companies. The outsourcing may be national or international. Generally the outsourcing will be highly seen in the service industry rather than the manufacturing industry. When the work is being distributed to other companies, there will always be a scope for the cultural variations which will affect the efficiency of the organization. As the service outsourcing deals with the different cultured people involved, it is highly discouraged to tie up the performance of the company with the cross cultural management of the organization. Hence, the companies are adopting the cross cultural management such that the different cultured people, processes and the operations will be run under a same hierarchy which will be monitored by the management of the organization. In this document, the effect of the cross cultural environment will be discussed in the outsourcing department and how they have faced problems in designing a global strategy to handle the outsourcing. The management theories like Trompenaars will be specified in this document to enhance the knowledge of these theories on the practical life. This theory aimed at the development of the managerial patterns in an organization based upon the different cultural environments. I have chosen Accenture, the world’s largest business consulting organization which will outsource the projects to different countries based upon the requirement. Being a consulting company, my company, Clear Tech business consultants...
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... Course work in Cross-cultural issues in the European Human Resource Management Prepare by: Dimitar Arnaudov, Faculty number: 1523078 Course: European business and Finances Sofia, 2015 1. Differences between national cultures. Authors, studies, etc. 2.1. Culture (def.); Culture differences. 1.1.1 Culture – def.; 1.1.2 Culture differences. 1.1 Authors and studies related to business culture. 1.2.1 Geert Hofstede; 1.2.2 Famous studies around the World. 2. Similarities and differences between the business cultures of Bulgaria and the United Kingdom. 2.1. Bulgarian business culture; 2.2. British business culture in comparison to Bulgaria’s . 3. References. Differences between national cultures. Authors, studies, etc. Culture (definition) and culture differences Culture illustrates the accepted norms and values and traditional behaviour of a group. One definition of culture by Deal and Kennedy is “the way a we do things around here”. However, culture also evolves over time. The culture of each country has its own beliefs, values and activities. In other words culture can be defined as an evolving set of collective beliefs, values and attitudes. Culture is a key component in business and has an impact on the strategic direction of business. Culture influences management, decisions and all business functions from accounting to production. You...
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