Choose an award-winning company from the Baldrige Performance Excellence Program website to study. You will evaluate the Award Application Summary as a business case. You are the chief strategy officer for your chosen company. You are conducting an evaluation of your chosen company for an upcoming annual report. Your goal is to demonstrate skill and expertise in strategic planning for an expansion effort into an international market based on your expert analysis and evaluation of the strategic position of your company. You will be submitting this report to the C-level executives of the company for consideration. Use the following criteria to assess international expansion opportunities for your chosen award-winning organization.
Assignment Part 1 Requirements:
Provide background information about your chosen company, including topics such as the company name, industry sector in which the company operates, products, and target market. Elaborate and use research.
Explain what strategic planning is and why it is important to a company by giving practical examples and synthesizing strategic management theories, principles, and concepts using research (read Chapters 1 and 2 in your textbook).
Identify and present an opportunity for your chosen company to expand into an international market. You can search international markets using the Global Edge website. Conduct additional research on the company website or using the Purdue University Global Consider expansion ideas such as the creation of a new product, demand for an existing product, creation of a satellite location, creation of a grant-funded foundation or project, development of a subsidiary, etc. Be creative and innovative. Consult with your instructor if you need assistance.
Provide reasoning why your company should enter your chosen international market (read pages 184185 in your textbook).
Conduct research on your chosen international market. Explain the complexity of entering your chosen international market using the diamond of national competitive advantage (read pages 185192 in your textbook).
Conduct a competitive analysis on your chosen international market (read pages 7779 in your textbook).
Identify and explain which of the three main approaches to international strategy is most appropriate for your company to employ as it expands into this new market (read pages 197201 in your textbook).
Explain the cross-border strategic moves your company faces by expanding into the international market (read pages 206211 in your textbook).
Assignment Part 2 Requirements:
Explain the value of expanding into your chosen international market from the perspective of diversification strategy (read pages 219222 in your textbook).
Explain whether it is best for your company to acquire an existing business, engage in corporate venturing, or establish a joint venture to enter your chosen international market (read pages 222225 in your textbook).
Will your company diversify into a related, unrelated, or related-unrelated business? Explain your strategic decision (read pages 225238 in your textbook).
Provide recommendations on how your diversification strategy can be profitable for your company (read pages 238254 in your textbook).
Develop and present SMART goals that will drive your company to successfully enter your chosen international market (conduct research).
Develop a business letter to persuasively present your strategic framework for expanding the company into your chosen international market.
Use a minimum of three peer-reviewed, academic research resources (including your textbook) to substantiate your critical thinking and to provide viable reasoning for your perspectives.
Apply proper APA style citation and reference format.
Use headings to segment the topics in your writing in order to create a flow of ideas for your reader.
Write in third person to develop your business report.