Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Business Strategy : CAGE Framework

tag 1 Download8 Pages 1,850 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Describe about the Business Strategy for CAGE Framework.

 

Answer:

Introduction

The report is covering the weekly session of the classes on e learning and has discussed the lessons taught in e learning (Clark and Mayer 2016). The week 3 and week 5 has been analysed here to understand the topics properly and then the application of the learning has been done in the study. This has two parts that has developed the learning of these two weeks.  In the first part of the report, it has covered the lesson about the definition of Strategy and its application in the present life and organisations. On the other hand, it has developed the CAGE framework to evaluate the international trade opportunities. The study has also analysed the learning and then applied in the organisations.

Week 3 E-Learning materials 

WEEK 3: What is Strategy? 

Paragraph 1:  

The strategy is the broad plan of developing an organisation to meet their organisational objectives. Therefore, strategy is the main policy of applying a well-designed way to reach the position to gain the maximum level of effectiveness. According to this lesson, the strategy is the process not only to reach the organisational objectives but also to analyse the internal processes and the adapting procedures of an organisation (https://www.youtube.com/watch?v=TD7WSLeQtVw 2016). In this video, the lesson has stated the various strategy statements to understand the meaning of the Strategy. Here, the strategy statements are as follows,

  • Be the low cost provider
  • Pursue a global strategy
  • Integrate asset of regional acquisitions
  • To always be the first mover
  • Move from defence to industrial application
  • Unrivalled customer service

However, the strategy statements have been stated here, the video or the e learning lesson has stated that all these strategies have the same aim for the organisations. In other words, it can be said that the strategy statements hold a few common idea that can evaluate the strategy in a better way. The common idea of these strategy statements is that they all indicating towards the (a) tactics, (b) goals, (c) objectives and (d) descriptions. However, it does not define the actual meaning of strategy (https://www.youtube.com/watch?v=TD7WSLeQtVw 2016).

Therefore, the source of the word “strategy” has to be analysed to understand the actual meaning of the process. The source of the word is Greek language, from the Greek word “Strategos” this word has came in the use. The word strategos means the art of the general. It refers to the idea that would be followed by every general person to attain his or her desired destination. On the other hand, a legendary Chinese general, Suntzu, argues it in the 2nd century BC and according to his doctrine, strategy is the art of war. This theory tells that there is only two way. One has to win, which would be good for him or her, otherwise have to lose, which would be very bad. One should not say that to beat someone or any organisation, rather is has to be said that the goal of the organisation or the person should be to win over them. In this way, Suntzu has established his point of view that strategy is the art of war (https://www.youtube.com/watch?v=TD7WSLeQtVw 2016). Additionally, it is related to the win and loss. In business, strategy is the process of gaining the organisational opportunities by utilising the profitable path.

 

Paragraph 2:

According to Jayawardhana and Weerawardena (2014), strategy is the pattern of systematic actions that are taken in a stream decision. While Salunke et al. (2013), opposed this words and stated that strategy is the process of shaping the future to meet the desirable ends. Therefore, it can be stated that strategy sets the path for an organization to reach its goal with the chance of getting maximum profit.

Strategy formulation is a very tactful task to be performed by an organization. Therefore, to implement the strategies properly an organization have to detect first the failures that they have faced before not to repeat again. The main issues that the companies are facing at the time of execution are – (1) not having a proper aligned company initiative, (2) appropriate company processes and (3) less engagement of employees and stakeholders (Bharadwaj et al. 2013). If the strategies would be aligned with the internal rules and regulations of a company, then should not be possible to get a positive result from the organization. Therefore, the strategy should be implemented in a manner that these problems cannot raise within the organization. The strategy can be applicable to the organization by following the five simple steps, such as,

  • Aligning company initiatives
  • Engaging staff
  • Align budget and performance
  • Monitor and Adapt
  • Structure follows strategy

Other processes are used to set business strategies. Environmental scanning is simply the process of paying attention to the external environment for factors that may affect your organization's performance, which will need to be addressed in the strategy formulation process. For example, you will pay attention to what your competition is doing and adjust your strategic plan as necessary throughout the process. Continuous implementation is simply implementing parts of the strategy that must take place in order for the next step of the strategy formulation process to be undertaken. The rest of the strategy formulation must be taken in order.

 Supply Chain Management

Figure1: Supply Chain Management

(Source: Campbell et al. 2012)

Week 5 E-Learning materials 

WEEK 5: Pankaj Ghemawat: CAGE framework to evaluate international trade opportunities 

Paragraph 1:  

The CAGE framework is based on the international economics that indicates in which trade connects extent two countries with each other. According to this lesson, it identifies the cultural, geographic, economic and administrative differences between the countries. It helps the organisers to detect the problems with any country before starting the business with them. On the other hand, it can be beneficial for the companies to understand the trade patterns, peoples’ interest, and capital to frame their strategy for the place while expanding the business in the new countries.

In the video, the speaker is telling about the meaning of the CAGE framework for the business. According to him, CAGE stands for the four elements that determine the trade condition of various countries. The CAGE stands for Cultural, Administrative/Political, Geographical and Economy (https://www.youtube.com/watch?v=7FpUJaG7uMk 2016). These four elements are the basic of any trade that can be helpful to know before sharing the business with another country. As per the lesson, it can be said that the speaker is supporting the framework to get a profitable business. Therefore, the speaker here is suggesting that the CAGE framework helps the countries to know relations not only related to trade but the others too, which will be beneficial for them to determine whether the trade will be successful or not. He stated an example of two equally developed countries, which have almost the same per capita income of its people, cannot want to trade with each other for many times. Therefore, it is indicating that the trade relation is cannot be fixed at a point; rather it depends on the economical factor of both of the countries. It can be justified with the fact that USA is developing a good trade relation with Canada, which has ranked tenth largest economy in the world (https://www.youtube.com/watch?v=7FpUJaG7uMk 2016).

CAGR Framework

Figure 2: CAGR Framework

(Source: Ghemawat 2015)

Paragraph 2:

As the CAGE framework is based on the international economics and the organisations of various countries are benefitted by using this policy therefore, Ghemawat offers some advice on how the CAGE Framework can help managers considering international strategies (Moalla and Mayrhofer 2014):

It helps to pinpoint the differences across countries that might handicap multinational companies relative to local competitors.

It can shed light on the relative position of multinationals from different countries. For example, it can help explain the strength of Spanish firms in many industries across Latin America.

It makes distance visible for managers.

One method to conduct quantitative analysis of this type is to discount (specifically, divide) raw measures of market size or potential with measures of distance, broadly defined. It can be used to compare markets from the perspective of a particular company.

Ghemawat emphasizes those different types of distance matter to different extents depending on the industry. Because geographic distance, for instance, affects the costs of transportation, it is of particular importance to companies dealing in heavy or bulky products. Cultural distance, on the other hand, affects consumers’ product preferences. It should be a crucial consideration for a consumer goods or media company, but it is much less important for a cement or steel business.

Conclusion

The study has analysed the effectiveness of the e learning procedure and has analysed two lessons. In the first part, the study has discussed the lesson on the topic of business strategy. The exact definition of strategy has been stated there and then has applied in the organisations that require it very much. In the second part, it has analysed the evaluation of Pankaj Ghemawat, who has explained the meaning and application of CAGE framework. According to the study, this framework is required very much to study before trying to expand any business to other country. Then the application has made to understand the situation through this framework. Therefore, it can be concluded that the e learning process has effectively discussed the two-business topics strategy and CAGE framework to apply in the organisations to increase the profitability.

 

References

Bharadwaj, A., El Sawy, O.A., Pavlou, P.A. and Venkatraman, N.V., 2013. Digital business strategy: toward a next generation of insights. Mis Quarterly, 37(2), pp.471-482.

Campbell, J.T., Eden, L. and Miller, S.R., 2012. Multinationals and corporate social responsibility in host countries: Does distance matter?. Journal of International Business Studies, 43(1), pp.84-106.

Clark, R.C. and Mayer, R.E., 2016. E-learning and the science of instruction: Proven guidelines for consumers and designers of multimedia learning. John Wiley & Sons.

Ghemawat, P., 2015. From International Business to Intranational Business. In Emerging Economies and Multinational Enterprises (pp. 5-28). Emerald Group Publishing Limited.

https://www.youtube.com/watch?v=7FpUJaG7uMk, 2016. Pankaj Ghemawat: CAGE framework to evaluate international trade opportunities. YouTube. Available from: https://www.youtube.com/watch?v=7FpUJaG7uMk [Accessed on 20 Aug. 2016].

https://www.youtube.com/watch?v=TD7WSLeQtVw, 2016. What is Strategy?. YouTube. Available from: https://www.youtube.com/watch?v=TD7WSLeQtVw [Accessed on 20 Aug. 2016].

Jayawardhana, K. and Weerawardena, J., 2014. Conceptualizing the Role of Market Learning in Social Innovation-Based Competitive Strategy.

Moalla, E. and Mayrhofer, U., 2014. How do different dimensions of distance affect market entry mode choice? An application of the CAGE-distance framework (No. hal-01134087).

Salunke, S., Weerawardena, J. and McColl-Kennedy, J.R., 2013. Conceptualizing the interplay of knowledge accumulation and integration capabilities in service innovation-based competitive strategy: a project-oriented firm context. In Proceedings of the 16th Biennial World Marketing Congress-Looking Forward, Looking Back: Drawing on the Past to Shape the Future of Marketing (p. 279). Academy of Marketing Science.

OR

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2017). Business Strategy : CAGE Framework. Retrieved from https://myassignmenthelp.com/free-samples/business-strategy-cage-framework.

"Business Strategy : CAGE Framework." My Assignment Help, 2017, https://myassignmenthelp.com/free-samples/business-strategy-cage-framework.

My Assignment Help (2017) Business Strategy : CAGE Framework [Online]. Available from: https://myassignmenthelp.com/free-samples/business-strategy-cage-framework
[Accessed 06 December 2019].

My Assignment Help. 'Business Strategy : CAGE Framework' (My Assignment Help, 2017) <https://myassignmenthelp.com/free-samples/business-strategy-cage-framework> accessed 06 December 2019.

My Assignment Help. Business Strategy : CAGE Framework [Internet]. My Assignment Help. 2017 [cited 06 December 2019]. Available from: https://myassignmenthelp.com/free-samples/business-strategy-cage-framework.


At MyAssignmenthelp.com, we are committed to deliver quality assignment assistance in the fastest way possible. To make our service delivery fast, we have hired subject matter experts to work on different subject specific assignments. We have hired experts who owe in-depth knowledge in their respective subjects. As per their expertise, they provide geography assignment help, Physics assignment help, Strategic assignment help, history assignment help, art architecture assignment help and assistance with other subjects as well.

Latest Management Samples

MKT100 Principles Of Marketing

Download : 0 | Pages : 9

Answer: Introduction One of the most improved sectors in the international market in terms of technology is the telecommunication industry. The industry has experienced an improvement in technology in the recent years in the international market. Different phone model of phone have been discussed by innovators. Some of the leading companies which steer head this sector include Nokia, Samsung, apple, Motorola, Techno among other companies ...

Read More arrow

BM7106-Importance Of Design Thinking To Innovation

Download : 0 | Pages : 7

Answer: Introduction According to Diethelm  (2012), the concept of design thinking has although been able to gain extensive attention with respect to its use in the domain of the business, it is still quite controversial in nature and that there still exists ambiguity with respect to the components of the Design thinking procedure and how the process functions. However, the author does not deny it is losing its importance. The procedure ...

Read More arrow

MBA402: Governance, Ethics, And Sustainability

Download : 0 | Pages : 10

Answer: Introduction In the current business scenario, sustainability is one of most important factors for the contemporary business organizations to be considered. This is due to the reason that contemporary business organizations are facing the issue of sustainability in their operation and it is becoming more important for them to maintain a specific database where the different elements of sustainability can be recorded (Rogers, Gardner a...

Read More arrow

HRES 2101 Individual Reflection Assignment

Download : 0 | Pages : 11

Answer: Introduction The main aim of this assignment is to discuss the recent amendment made in the Occupational Health and Safety (OHS] Act in Alberta. In other words, this paper research the amended Act and plan and how to implement this amendment in the workplace. In this context, personal experience of the author is used as the foundation in terms of thinking about how to integrate this amendment in the workplace in terms of receiving the...

Read More arrow Tags: Canada Calgary Management English University of Ottawa 

MBA641-Residential Duplex Development Project

Download : 0 | Pages : 11
  • Course Code: MBA641
  • University: Kaplan University
  • Country: United States

Answer:   Introduction The paper mainly reflects on the preparation of project feasibility and timeline for the construction of a residential duplex in 140, Rusden Street, Armidale, Australia.  It is found that the area of Armidale is mainly selected as the population of that area is more than 10,000 and as a result the he business of residency de dvelopment can flourish in that area. The main aim of the project is to enhance both...

Read More arrow
Next
watch

Save Time & improve Grades

Just share your requirements and get customized solutions on time.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,157,348

Orders

4.9/5

Overall Rating

5,050

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

93 Order Completed

100% Response Time

Jackson Mitchell

MiM (Masters in Management) in Supply Chain Management

New Jersey, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

755 Order Completed

95% Response Time

Douglas Cowley

Masters in Finance with Specialization in Audit

Wellington, New Zealand

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2109 Order Completed

99% Response Time

Emma Zhong

Ph.D in Project Management with Specialization in Project Communications Management

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

134 Order Completed

95% Response Time

Thomas Nelson

MS in Information Systems Technology with Specialization in Database Administration

New Jersey, United States

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

thanks to the expert for your hard work i've received good mark and good feedback as well cheers!

flag

User Id: 323943 - 06 Dec 2019

Australia

student rating student rating student rating student rating student rating

Paper was spot on, got a great grade and helped boost my over all grade for the semester. Was the boost I needed to get back up to A

flag

User Id: 350197 - 06 Dec 2019

Australia

student rating student rating student rating student rating student rating

I was very happy with my report it was detailed and covered the topic flawlessly

flag

User Id: 350197 - 06 Dec 2019

Australia

student rating student rating student rating student rating student rating

I’m impressed with your ability to write concisely. Not only did you fulfill the assignment, you also wrote a long-ish intro and answered questions that went beyond the prompt. Doing so within the word limit and doing it well deserves recognition. ...

flag

User Id: 282728 - 06 Dec 2019

Australia

student rating student rating student rating student rating student rating
Have any Query?