country
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Competitive Strategy: CAGE Framework

tag 0 Download5 Pages / 1,182 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Write about the Competitive Strategy for CAGE Framework.

 

Answer:

For this activity, the selected weekly materials include CAGE framework and business model innovation.

Key Ideas from the Selected Weekly Material

The key idea of one of the weekly material includes detail explanation regarding the difference between countries and the way it matters a lot in the global trade. The importance of evaluating differences between countries for getting success in the international business is indicated through the CAGE framework. This model indicates that the analysis of cultural, administrative, geographic and economic distances is quite useful to support the international trade. This framework is effective to determine the key differences and similarities between the countries for evaluating the international trade opportunities in the systematic manner (Ghemawat, 2016). CAGE framework is based on the idea of evaluating trade opportunities in the foreign markets. The differences and similarities among the countries play critical role in influencing the level of trade. The different dimensions in one country from other are likely to affect the trade partnership of such countries. On the other hand, similarities in these dimensions help to operate business effectively. It helps to compare situation of a country from the industry of the other country (Frynas and Mellahi, 2015). The high level of similarities of in these dimensions means to get huge success in the foreign markets. By using this framework, a firm can evaluate the external conditions of a country to make informed decisions for establishing international trade in country.  The understanding regarding external conditions of an industry in a country through CAGE framework is likely to help a business to expand the business in the international market more effectively. The other key idea is learnt regarding the innovation in the business model. An innovative business model helps a firm to compete in the market and to bring sustainability in the operations. Innovation helps a firm to find a way to either reduce cost and to create value for the customers and it contributes in creating competitive advantage (Enz, 2010). A business model informs about the target customers, offerings, value creation and revenue sources more clearly. An innovative business model mainly focuses on value creation and revenue sources. For brining innovation in the business model, there are four key steps namely initiation, ideation, integration and implementation followed effectively by firms. These steps may help a firm to bring innovations in the business models and to create competitive advantage. The business model evaluates on the basis of qualitative and quantitative data. This helps to examine on which basis the business model is developed (Hill and Jones, 2011). Incorrect management behavior and organizational resistance to the change are two key factors responsible for causing failure in inventing and implementing new business model. It is because, it is critical for organization to follow change management strategies for implementing new business model. By developing feasible key performance indicators, communicating new business model clearly, implementing one business model at a time and ensuring top management commitment, a firm could manage change initiatives effectively and to bring innovations in the business model (Parnell,, 2013). Innovation is the key source to create competency by learning from others and making informed changes in the business model.

 

Application of Key Ideas in Tesco

Tesco is facing significant problems in managing international business successfully. By applying this framework, this firm could be able to face problems in intentional business, which it is facing due to the differences in cultural, geographical, political and economic dimensions. The failure of Tesco in the Chinese market is mainly attributed to the lack of understanding for cultural aspect. Due to this, the firm has failed to understand the needs and preferences of the customers effectively and to transform their offerings accordingly (Pendrous, 2013). Similarly, the cultural differences were one of the key reason due to which Tesco decided to close its “Fresh & Easy” stores. Due to this, firm has failed to gain adequate and required market knowledge and to tailor its offerings accordingly. With the application of this model, Tesco would be able to understand and evaluate the differences in these dimensions effectively and to establish business in the foreign markets successfully (Walker, 2014). The idea of evaluating trade opportunities should be applied by investigating and comparing government policies for retailers, laws and regulations, GDP, growth rate, income level, employment rate, inflation rate, social-cultural aspects, trade policies and among other in UK and in the other international market. This analysis could be helpful to determine the similarities and differences effectively and to make informed decision regarding international trade.  By conducting environmental analysis, CAGE framework should be applied by Tesco to access the international trade opportunities effectively and to successfully expand business globally (Frynas and Mellahi, 2015). Similarly, Tesco would gain benefits from the implementation of the idea of inventing business model. Tesco has lost its competitive position in many markets. Its current business model has failed to handle the business challenges (Warner, 2014). The application of idea of reinventing business model would be effective for this firm to bring required changes and to create value for the customers. By applying this model, Tesco would also be able to understand the needs of the market and to determine the challenges. Through this it could find a way to develop an innovative business model, which may help this to improve the competitive position (Ruddick, 2015). The idea of reinventing business model could be helpful to bring innovations and to create customer value. It should be implemented by conducting careful examination of internal and external business environment. By using strategic management tools and frameworks such as PESTEL, Porter’s five forces and SWOT analysis, a firm can effectively analyze the internal and external environment and to learn from the established business models. It may help to bring innovations in the business model. Apart from this, clear communication and top management commitment should also be used by this firm to reinvent the business model successfully and to create competitive advantage (Hill and Jones, 2011). Thus, competitive strategy requires an analysis of business environment. 

 

References

Enz, C. (2010) Hospitality Strategic Management: Concepts and Cases. Hoboken, NJ: Wiley.

Frynas, J.G. and Mellahi, K. (2015) Global strategic management. USA: Oxford University Press.

Ghemawat, P. (2016) The Laws of Globalization and Business Applications. UK: Cambridge University Press.

Hill, C.W. and Jones, G.R. (2011) Essentials of strategic management. USA: Cengage Learning.

Parnell, J.A. (2013) Strategic management: Theory and practice. USA: Sage Publications.

Pendrous, R. (2013) Tesco failed to understand the Chinese customers. [Online]. Available at: https://www.foodmanufacture.co.uk/World-News/Tesco-failed-to-understand-the-Chinese-consumer (Accessed: 1May 2017).

Ruddick, G. (2015) Strangely, Tesco is the only one not obsessed with its profit margin. [Online]. Available at: https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11559498/Strangely-Tesco-is-the-only-one-not-obssessed-with-its-profit-margin.html (Accessed: 1May 2017).

Walker, T. (2014) Why does Tesco work in the UK but not in the United States? [Online]. Available at: https://www.independent.co.uk/news/business/analysis-and-features/why-does-tesco-work-in-the-uk-but-not-in-the-united-states-8393592.html (Accessed: 1May 2017).

Warner, J. (2014) Problems by the bagful for beleaguered Tesco. [Online]. Available at: https://www.telegraph.co.uk/finance/newsbysector/epic/tsco/11125666/Problems-by-the-bagful-for-beleaguered-Tesco.html (Accessed: 1May 2017).

Download Sample

Get 100% money back after download, simply upload your unique content* of similar no. of pages or more. We verify your content and once successfully verified 100% value credited to your wallet within 7 days.

Upload Unique Document

Document Under Evaluation

Get Credits into Your Wallet

*The content must not be available online or in our existing Database to qualify as unique.

Cite This Work

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

My Assignment Help. (2018). Competitive Strategy: CAGE Framework. Retrieved from https://myassignmenthelp.com/free-samples/competitive-strategy-cage-framework.

"Competitive Strategy: CAGE Framework." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/competitive-strategy-cage-framework.

My Assignment Help (2018) Competitive Strategy: CAGE Framework [Online]. Available from: https://myassignmenthelp.com/free-samples/competitive-strategy-cage-framework
[Accessed 16 July 2020].

My Assignment Help. 'Competitive Strategy: CAGE Framework' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/competitive-strategy-cage-framework> accessed 16 July 2020.

My Assignment Help. Competitive Strategy: CAGE Framework [Internet]. My Assignment Help. 2018 [cited 16 July 2020]. Available from: https://myassignmenthelp.com/free-samples/competitive-strategy-cage-framework.


For years now, MyAssignmenthelp.com is providing affordable essay help to millions of students worldwide. Our essay assistance services have helped us in assisting students with even the toughest essay assignments. We take pride in the fact that we cater the best assistance to search terms like help me with my essay. We offer affordable services in the fastest way possible. For our fast delivering services, students trust us with their urgent essay assignment needs. Two of our most popular essay writing services are maths essay help and English essay help.

Latest Management Samples

CCE2000 Sample Exam Questions

Download : 0 | Pages : 7
  • Course Code: CCE2000
  • University: Monash University
  • Country: Australia

Answer: Introduction: The period between 1930- 1930 was characterized by mass immigration into the US. This led to the growth of cities due to increased population. The factors that led to this tremendous growth of cities included: increased demand for housing, availability of cheap labor. Increased demand for goods and improvement of infrastructure. Generally, between 1830-1930, 3.5 million and 4.5 immigrants of British and Irish origin resp...

Read More arrow

TLH312 E-Tourism For Their Marketing And Communication Process

Download : 0 | Pages : 21
  • Course Code: TLH312
  • University: Macquarie University
  • Country: Australia

Answer: Introduction Over the past few years, service industry has played an important role in the development of most of the industrialized countries. Innovative business models and technologies have transformed the service environment in the country. In today’s modern business environment, service industry is highly dependent on the social media and other internet sources to approach its customers. It is practical for the hospitality ...

Read More arrow

TLH302 Social Media Content Plan For Environments And Cultures

Download : 0 | Pages : 19
  • Course Code: TLH302
  • University: University Of Sunderland
  • Country: United Kingdom

Answer: Introduction Tourism leaves undeniable socio-economic footprints in destinations all over the world. In essence, it is a benevolence bestowed upon human beings from human beings, which has at times been seen to rejuvenate economies (Dowling, Singh and Timothy 2003, p. 99). Be that as it may, tourism has been an agent of destruction to economies, environments, cultures, traditions and social relations. Economic opportunists after the W...

Read More arrow

CORP5069 Literature Review On Organizational Change For Effective Performance

Download : 0 | Pages : 3
  • Course Code: CORP5069
  • University: De Montfort University
  • Country: United Kingdom

Answer: Carter et al. (2012) in their paper on transformational leadership discusses about the indispensability of organizational change . According to the author organizational change is concerned with the purposeful, frequent and ongoing adjustments to achieve the cumulative effect. The authors argue that in order to cope with  the change in the organization, the employees retain the effective elements of the organization. This leads to...

Read More arrow

GU299 Gun Violence For Trust And Global Recognition

Download : 0 | Pages : 4
  • Course Code: GU299
  • University: Grantham University
  • Country: United States

Answer: Introduction Everytown for Gun Safety is a non-profit organization that is financially supported by New York City former Mayor Mike Bloomberg works in a scrupulous manner to build communities safe from gun violence and brutalities. Over the years the organization has achieved many changes in society by forming campaigns, supporting the victims, striving to formulate policies that would bar the rampant purchasing and keeping of guns, a...

Read More arrow
Next
watch

Save Time & improve Grade

Just share Requriment and get customize Solution.

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

1,362,932

Orders

4.9/5

Overall Rating

5,082

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

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

752 Order Completed

100% Response Time

Hugh Cleave

Masters in Human Resource Management (MMgt, HRM)

Wellington, New Zealand

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

1692 Order Completed

98% Response Time

Alfred Dodd

PhD in Computer and Information Science with specialization in Database

Wellington, New Zealand

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 4/5

1309 Order Completed

100% Response Time

Gemmie Chen

MSc in Nursing

Singapore, Singapore

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

hello I am very satisfied with the work you did for me. I will not hesitate to take your services again for future assignments, proudly recommend... please review your price for returning customers

flag

User Id: 457107 - 15 Jul 2020

Australia

student rating student rating student rating student rating student rating

Thanks to this expert in following closely on the assignment structure. Appreciated it :)

flag

User Id: 415901 - 15 Jul 2020

Australia

student rating student rating student rating student rating student rating

Great work! I am very pleased with my outcome. It was was easy to understand, yet consistent with the business quantitative method lingo in answering the questions.

flag

User Id: 383727 - 15 Jul 2020

Australia

student rating student rating student rating student rating student rating

thank you for the good work progress, really like how it\'s done and on time submitted to me

flag

User Id: 225590 - 15 Jul 2020

Australia

student rating student rating student rating student rating student rating
callback request mobile
Have any Query?