Management Skills Development for CarryMore's International Market Entry Strategy
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This report discusses CarryMore's market entry strategy for international expansion, force field analysis for culture management, effective people management activities, and their impact on the current organizational culture. The report emphasizes the importance of developing management skills for successful growth.
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Report (AS2) Management Skills Development 1
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Table of Contents Introduction.....................................................................................................................................3 Main body........................................................................................................................................3 Market entry strategy..................................................................................................................3 Conduct a force field analysis.....................................................................................................4 Hofstede’s culture dimensions....................................................................................................5 One effective people management activities..............................................................................7 How the people management activity would impact on the current organisational culture......8 Conclusion.......................................................................................................................................8 References.......................................................................................................................................9 2
Introduction Within an organisation, it is very important to complete working activities and manage them with wide range of managerial skills.For being a successful manager, they should developed the hard and soft skills.This report includes about the expanding nature of the company in another country. The base company for this report is CarryMore, a small UK based business manufacture company that is looking to expand their market by trading internationally (Benkraiem and et.al., 2021). CarryMore is the company which manufacture the rucksacks and different body bags in the east Midlands. The two owner of the company are Alice and Tyrese Lewis. They provide effective and durable bags which are fashionable, lightweight and durable for managing variety of cause for the work and leisure performance. The main aim of the company which they used in market is CarryMore, Worry Less. Now the management team of the company needs to explore different opportunities for managing trade and complete working with trade internationally. They want to same as UK market that have overcrowded customers and similar suppliers (Martin, Camiré and Kramers, 2021). This report highlights the market entry strategy for trade internationally and conduct a force field analysis for the culture management of the company. In last, one effective people management activity will be analysed that help the successful growth of the company. Main body Market entry strategy CarryMore make revenue of 25% at present and now they want to expand their business activities in an effective and appropriate ways. They have effective growth in UK market due to high visibility and designed and eye catching logos to young travellers. On the basis of company's manufacturing process and products visibility in market, CHINA is identified where, CarryMore could trade effectively (Handbags market - growth, trends, covid-19 impact, and forecasts, 2021). The main reason for choosing china to expand business operations is china low costs, convenient transportation and huge number of skilled workers with complete supply chain availability. There are varity of ways which CarryMore can use to enter into the China's market. There are different factors which are needed to be identified for make stratgy and make adaption 3
of products requirement process to make effective transportation costs. Some of the strategies are related to: Franchise:It is a process for rapid market expansion but it gain the traction in different part of world. This strategy work well who have repeatable business models and can be transferred into other markets such as Food Outlets. Exporting:It is referred to the position into the market and chosen by using a first instance and have their own resources (Burgos-Vera and et.al., 2021). With the helps of agent and distributors, foir represent the company into further markets. Joint venture:This strategy is known as particular form of partnerships and it involve the creation of third independent company's process. They share profit, risk and loss of the company in same pre-decided ratio of the company (International Market Entry Strategies, 2021). From the above market entry strategies, CarryMore should follow the Exporting strategy as it is highly related and match the circumstances of the company. As the company initially start expanding the company into internationally. So, it is beneficial to export their products first into the China market, analyse the response and then make further decisions. Exporting is one of the significant and effective way of expanding business into one to another market (Giraud and et.al., 2021). Conduct a force field analysis Force field analysis is used for make decisions for identify the forces for and against a change and further helps in make their own decision. This model helps the CarryMore company to analyse their forces for change and identify their strength and weakness for each force to get a successful change. 2 driving forces New opportunities in market:The CarryMore company find new opportunities to expand their products into the new market. This force is effective and make a positive impact on the company to expand their business into China market. China have large market of manufacturing process of hand bags that are effective and helpful for the company to generate revenue (George and et.al., 2021).Increased demand:With the help of export market strategy CarryMore is able to increased their market demand into new market. China have large opportunities and 4
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demandoffashionablehandbagsandprovidethesignificantgrowthinmanaging working activities with more effective approach. 2 resisters for change forces Fear of uncertain future:The resisters for having change in the respective company is the fear of uncertain future. This change make the negative impact on the company's policies and decline the motivating growth in their employees. This factor needed to be reduce or remove the restraining force in more effective approaches. Living in comfortable zone:Another resister for change for the company is the comfort zone which the company's employee have. For expanding market into new country can lead to change in old employee's working and it will make a hurdle for the company. The management team of the company should decline this force and make systematic policies for the growth of the company into the market (Lewin’s Force Field Analysis, 2021). Hofstede’s culture dimensions China and UK have different cultures which are highly related to different sectors and growth of the company. Chinese society is all about group whereas, UK people are celebrate everythingindividually(Vernon-Robertsandet.al.,2021).Withthehelpofhofstede's international culture which recognized the standard for understanding the culture and make different growth in managing people and working environment. Its stages are explain below: 5
Power distance:This is related with the concept that the individual in a society is not equal. In between UK and china, with the score of 80 China sits of higher ranking of PDI which means there people have no issues with the individuals inequality. Whereas, UK have 35 points which means their people think that inequality among the people should be minimized. Individualism VS Collectivism: This relates to the degree of interdependence a society which maintains among the members. With the score of 20, it is analysed that China is highly collective society where people work as an act of interest. With the score of 89 points, UK have highest individual score which show that the people of UK are think for themselves rather than private people (Chun and et.al., 2021). Masculinity VS Femininity:The major issue here, is what motivate the people wanting to be best means masculine culture or likely what to do with feminine culture. With the high score of 66 points, China culture is very self driven that is success oriented or driven. Whereas, same with the UK market. They also have highly success oriented and self driven. 6 Illustration1: Country comparison, 2021
Uncertainty avoidance:This is the factor which relates to the country to make society deals with the facts for the future which can never be known into the society. UK has low score on uncertainty avoidance which means that nation is quite effective and happy about the future change and uncertainty. Same with the Chinese culture they have ambiguity for managing culture and make growth in different sectors to work with acceptable nature. Long VS Short term orientation:This stage have two culture, Normative which means they preferred to maintain time honoured traditions and having societal changes (Aliu and Aigbavboa, 2021). Whereas, pragmatic change which means they encourage thrift and efforts in modern education efforts. China scores 87 which means a pragmatic culture whereas, UK score 51 which means it have societal culture in the society. Indulgence VS Restraints: To what extent the people are try to control their desire. UK score 69 which means they have indulgence means they are willing to control their desire with regards to enjoying their life. Whereas China have score 24 which means they have restrained society as they do not spend much emphasis on leisure time and control of gratification of their own desirers (Country comparison, 2021). One effective people management activities With the use of empowering the learning and development team improve the growth of employees and they retain within the company for longer period of time. The main aim of the CarryMore is to align their employees goals and performance with the success of organisational performance. The main reason for choosing this activity is related to make a bridge to developed andmakesystematicgrowthinaddressingorganisationalculture(WhyLearningand Development Is So Important for Organizations, 2021). The company is now expanding their market into China, so it would be beneficial for the company to learn new policies, decline the risk of failure into the market. CarryMore should try to mark benchmark which is effective for the company and their employees and support new initiatives. Furthermore, company should try to align their training methods with management goals that helps them to work and manage basic features to complete understanding and make more effective growth in the marketing field (Sjöberg Forssberg and Vänje, 2021). In last, CarryMore should adopt the long life training facilities which mainly focus ontheemployee'shappinessandsatisfactionforthegrowthofcompany.These 7
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recommendations for the company increase their employee's engagement and create new opportunities which helps in managing and analysing the working system for getting new and effective involved process. How the people management activity would impact on the current organisational culture With the help of learning and development, different set of values and belief of the company are analysed to complete effective membership growth and explain the nature and contextof environmentfor thesignificantgrowthin the market.The use of successful organisational culture is an effective and appropriate approaches for make effective knowledge andmakecompetencesfortheaspectsofvalueandmanagesheetsforthegrowthof company(Alnuaimiandet.al.,2021).Agooddevelopmentandlearningprocessaffect organisational process for considering the growth in analysing working and complete different conceptual data to manage basic development. The changing culture of the CarryMore company impact highly due to the different policies and working environment. With the help of effective development and learning programmes helps them to work effectively and manage with the new environmental surroundings. Conclusion From the above report, it is analysed that working effectively into their own country culture and foreign culture would be different. This is further used to work and manage appropriately and manage the time for significant growth into the market. With the help of effective entry market strategy company adopt the right path to go trade internationally. Whereas, it is analysed that force field analysing situation is helpful in identifying the forces and determine the drivers that make positive and negative impact on the society.In last people management activities are identified for the company and make a significant growth into the market. 8
References Books & Journals Aliu, J. and Aigbavboa, C., 2021. Key generic skills for employability of built environment graduates.International Journal of Construction Management, pp.1-19. Alnuaimi,M.,Alzoubi,H.M.,Ajelat,D.andAlzoubi,A.A.,2021.Towardsintelligent organisations: an empirical investigation of learning orientation's role in technical innovation.International Journal of Innovation and Learning,29(2), pp.207-221. Benkraiem, R., Boubaker, S., Brinette, S. and Khemiri, S., 2021. Board feminization and innovation through corporate venture capital investments: The moderating effects of independence and management skills.Technological Forecasting and Social Change, 163, p.120467. Burgos-Vera, O., Sotomayor-Beltran, C., Llulluy-Nuñez, D. and del Carmen, H.R., 2021, March. Teaching management skills to first year engineering students. In2021 IEEE World Conference on Engineering Education (EDUNINE)(pp. 1-4). IEEE. Chun, D., Zhang, Z., Cohen, E., Florea, L. and Genc, O.F., 2021. Long-term orientation and the passage of time: Is it time to revisit Hofstede’s cultural dimensions?.International Journal of Cross Cultural Management,21(2), pp.353-371. George, T.O., Oladosun, M., Oyesomi, K., Orbih, M.U., Nwokeoma, N., Iruonagbe, C., Ajayi, L. and Lawal-Solarin, E., 2021. Usefulness and expectations on skills development and entrepreneurship among women of low socioeconomic status in Ogun State, Nigeria. African Journal of Reproductive Health,25(5s). Giraud, L., Zaher, A., Hernandez, S. and Al Ariss, A., 2021, September. Artificial Intelligence and the Evolution of Managerial Skills: An Exploratory Study. InConference on e- Business, e-Services and e-Society(pp. 307-317). Springer, Cham. Martin, N., Camiré, M. and Kramers, S., 2021. Facilitating life skills transfer from sport to the classroom: An intervention assisting a high school teacher-coach.Journal of Applied Sport Psychology, pp.1-25. Sjöberg Forssberg, K. and Vänje, A., 2021. Gender-awareness: a prerequisite for improving work environments in public organisations?. Vernon-Roberts, A., Frampton, C., Gearry, R.B. and Day, A.S., 2021. Development and ValidationofaSelf-managementSkillsAssessmentToolforChildrenWith Inflammatory Bowel Disease: The Inflammatory Bowel Disease-Skills Tasks and Abilities Record (IBD-STAR).Journal of Pediatric Gastroenterology and Nutrition, 72(1), pp.67-73. Online Countrycomparison,2021.[Online].Availablethrough: <https://www.hofstede-insights.com/country-comparison/china,the-uk/>. Handbags market - growth, trends, covid-19 impact, and forecasts, 2021. [Online]. Available through: <https://www.mordorintelligence.com/industry-reports/handbags-market>. InternationalMarketEntryStrategies,2021.[Online].Available through:<https://www.indeed.com/career-advice/career-development/market-entry- strategies>. 9
Lewin’sForceFieldAnalysis,2021.[Online].Availablethrough: <http://changemanagementinsight.com/lewins-force-field-analysis-change- management/>. Why Learning and Development Is So Important for Organizations, 2021.[Online]. Available through: <https://corp.kaltura.com/blog/learning-and-development-importance/>. 10