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Financial Cycle And Monetary Policy Independence

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Question:

Discuss about the Financial Cycle and Monetary Policy Independence.
 
 

Answer:

Introduction:

In this modern competitive, every organization is incorporating new strategies every now and then to survive in the race and beat the rivals. The organizational management of every organization is looking for the opportunities to introduce their business into the global market. The given case study has concentrated on an organization called Red Fish- Blue Fish. The organization has started its journey in 2007. Fran Fisher, the CEO of Red Fish- Blue Fish has started this organization with two other leaders of this organization- Eric Lynch and Jeff Fisher, senior vice president and vice president of the Red Fish Blue Fish. The organization has faced several positive and negative aspects from the beginning. The organizational management has successfully expanded their business domestically. However, the organization experienced difficulty in the global market. According to the CEO of the company, they are doing well in the Canadian market, but they are facing various challenges in the Asian Market (redfish-bluefish.com, 2017).

The below mentioned article is discussing about the challenges the organization Red Fish and Blue Fish is experiencing. It has enlightened the fact that what makes the Asian countries attractive for trade. The report has articulated the advantages and impact of trade treaty on the business organizations like Red Fish Blue Fish. Therefore, it has mentioned what is the reason for success of Red Fish-Blue Fish and how it can maintain its competitive advantage.

There are many reasons that have influenced the success of the organization. The organizational management of Red Fish- Blue Fish has done research work to identify the loopholes in their logistic management. As per the result of that research work, although Red Fish- Blue Fish is a renowned name, the organization has failed to achieve the organizational target in the Asian Market. The organizational management has introduced some unique and innovative steps into their organizational strategies which have helped the organization to beat several obstacles to achieve the desired position in the industry. The development of every organization depends on the organizational strategies. The organizational management has concentrated on their logistic management to improve the quality of their service and set an example in the global market (Adekola and Sergi 2016).

 

The organizational management has taken an innovative step to expand their business in China. It has purchased maximum fish of China. The organization faces various difficulties in the Asian Market. According to the organizational management of Red Fish-Blue Fish it will be helpful for their organization.

The organizational management has taken another unique step to spread their network in the Asian Market. The management has developed websites for China, Japan and India to promote their online business.

The CEO, Fran Fisher has appointed some interns for conducting research work on supply chain management. It is one of the remarkable steps taken by the organizational management of Red Fish Blue Fish. It is important for every organization to conduct a research work to observe the market demand, market situation. Such Research work often helps the business organization to achieve the desired position in the industry. The result of this research has provided a vivid picture of global market. The organizational management has identified the need of the Trans-Pacific Trade agreement which is useful for running business in the Asian countries and the demographics of Asian countries (redfish-bluefish.com, 2017).

There are many examples of successful market research and unsuccessful market research that has influenced the success of the organizations. An exemplary example of failed market research is the Ford Edsel. The organizational management has not conducted the market research in an appropriate manner. The management has tried to offer their consumers a product that has everything. However, the organizational management has overlooked a major issue while conducting the market research, that it is not possible for any product to have everything. Moreover, the Ford Edsel was competing against its own products. The organizational management has faced massive crisis due to this wrong step (Abbott, Levi-Faur and Snidal 2017). On the other hand Lego is an example of successful market research. It is a toy manufacturing industry. The organizational management of Leg has conducted a market research in which it has identifies that only nine percent of girls play with their toys. Therefore, it has concentrated on making games and toys for the girl. Before starting the production of toys for girls, the organizational management has conducted another market research to identify the playing habits of the girls. This unique steps has led Lego to achieve the desired position in the toy industry (Adekola and Sergi 2016).

 

Competitive Advantage:

Maintaining competitive advantage is highly required to achieve the desired target and earn reputation in the society. Being a multinational organization, Red Fish- Blue Fish must maintain their competitive advantage. It will be helpful for the organization to fight against various obstacles, rivals and run the business domestically as well as internationally. There are some important ways by which the organizational management of Red Fish- Blue Fish can maintain its competitive advantage. The organizational management of Red Fish-Blue Fish must include these strategies into their rule book (Kim, Hoskisson and Lee 2015). Some of the important strategies are:

The organizational management must use some effective communication tools to interact with their consumers. In this online era, people often access their social networking sites to keep in touch with rest of the world. The organizational management of Red Fish-Blue Fish must use all the modern communication tools to promote their business to the global market. It will help the organization to understand the requirement of the consumers. The success of every organization is highly dependent on understanding the demand of the consumers (Caballero, Panizza and Powell 2015).

The organizational management must focus on the development of the society. The management must provide their support to the needy and poverty stricken people of the society. The organizational management of Red Fish- Blue Fish must be careful and consider the environmental issues while constructing their organizational strategy. They management must establish their strategy in such a manner so organizational activities do not harm the environment and the people around the organization. It will help the organization to obtain the reputation in the society and promote the rand name (Cavusgil, Knight and Riesenberger 2013).

Employees are the key elements of every organization. The organizational management of Red Fish-Blue Fish must take care of their employees. It will be beneficial for the development of the organization. It will boost the motivation of the employees and influence them to give their best performance to achieve the organizational target. The organizational must appreciate their employees for achieving short-term goals. It will encourage employees to contribute to achieve the long-term goal for the organization.

The organizational management must review their performance. It will give them a clear idea about their flaws. It is important to improve the quality of service.

The organizational management must think from consumer’s perspective, so they can identify the requirement of their consumers. It will improve the quality of organizational service.

Previously mentioned strategies are not only beneficial for Red Fish- Blue Fish. It is suitable for every organization. The management of other organizations can also incorporate these plans into their organizations for the development of their organization. These strategies will be helpful for them to achieve organizational target (Cavusgil, Knight and Riesenberger 2013).

 

Advantages of Trade Agreement:

In the given case study it can be seen that after the research work done by the Penn State’s Supply Chain Program’s students the organizational management of Red Fish- Blue Fish has come to know about the Trans-Pacific Trade Agreement. It is a free trade treaty between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam (Kimura and Obashi 2016). There are various advantages of these types of trade agreement’ such as:

Free trade agreements provide opportunity to all countries to develop their social- cultural and economical infrastructure by introducing their products and goods in the global market.

Trade agreements reduce the tariff barriers. Eventually the prices of the products also get reduced. It is highly beneficial for the consumers as well as the business organizations (Miranda-Agrippino and Rey 2015).

Free trade agreements increase the margin of exporting goods from the foreign countries. It is a major benefit for the consumers as well as for the business organizations.

 The increment of trade is beneficial for the growth of the financial infrastructure of the related country. Free trade will help the business organization to spread their network into the global market and earn mire revenues. Eventually the annual income of the country will be increased which is highly beneficial for standard living.

Free trade treaties are responsible for using the surplus raw materials. An exemplary example of such practice is Qatar. Qatar preserves a huge amount of oil, but it does not have much opportunity for trade. Thus, there would not have much benefit of having oil. On the contrary, there are many countries that have sufficient resources with trade opportunity which is beneficial for the economic structure of the country (Oh and Contractor 2014).

Free trade agreements are highly beneficial for the organizations like Red Fish-Blue Fish as it gives these organizations an opportunity to introduce their products and services into the global market. It enhances the scope for these organizations to make huge revenue which is highly beneficial for the growth of the organization. Although, Red Fish- Blue Fish is successfully running their business domestically, the organizational management always looks for opportunities to expand their business in the international market. Free trade agreements help the organization to reach to maximum number of consumers to promote their products (Patriotta, Castellano and Wright 2013).

The Advantages of Expanding Business in Asian Countries:

Most of the foreign business organizations look for opportunities to expand their business in the Asian countries. The organizational management concentrates on China, Brazil and India to expand their business. There are some benefits to expand business in the India and other Asian Countries, like- all Asian countries possess high population rate, which is highly beneficial for the growth of the international business organizations. It gives an opportunity to the foreign business organization to make huge profit (Purvis, Naim and Towill 2013).

Red Fish- Blue Fish may face various challenges while expanding their business in te Asian market (Rey 2015), such as-

Currency Convertibility issue may faces by the organizational management of Red Fish- Blue Fish. It is harmful for the management to run expand their business successfully.

The legal system of Asian countries is different from other continents. There are various rights that restrict the activities of foreign industries like intellectual property protection right. Red Fish- Blue Fish management may face various challenges due to this issue.

Asian Countries possess different business culture. The ideologies are different. It can be a major challenge for the organizational management of Red Fish- Blue Fish.

The communication gap between the Asian countries and other countries may work as a challenge for Red Fish Blue Fish (Rothaermel 2015).

 

Global Intermediaries:

Global intermediaries will be helpful for Red Fish- Blue Fish to expand their business globally. It will be an effective and efficient for the organization as it will helps them to complete international ventures successfully. The organization will be able to fulfill the requirement of international consumers. This will ensure the growth of the Red Fish- Blue Fish (Stoian 2013).

The Red Fish- Blue Fish must associate with the local franchises. Local franchises have the clear idea about the requirements of the local consumer. It will be helpful for the organizational management to identify the requirement of the foreign consumers via local franchises (Szablowski 2015).

Red Fish- Blue Fish organization must open its branches in the Asian Countries to deal with the local customers. The organizational management must update about their new products and new launches in their websites. It will give a clear picture about the products and services of Red Fish- Blue Fish to their Asian consumers (Tian 2016). The organizational management may use the local media of Asian Countries to promote their brand. It will be helpful to raise the profit margin in the Asian Countries. Organizational management of Red Fish- Blue Fish must follow the business rules and regulations of Asian countries and maintain a good relation with government to run business successfully (Wise 2014).

Conclusion:

As per the previous discussion, it can be concluded that although, Red Fish- Blue Fish has achieved desired target domestically, it has faced various difficulties in international market, especially in the Asian Countries. The profit margin in the Asian countries is quite low. There are various challenges that the organization is facing in the Asian market such as- financial issues, business policy issues and so on. However, the Asian countries are considered one of the major targets for Red Fish- Blue Fish due to its large population.  Being one of the leading organizations in the Australia, Red Fish- Blue Fish must expand their business into the global market. In order to achieve success in the international market especially in the Asian Market the organization must maintain good relation with the local government and must adopt the business policy of the those countries. The organizational management must improve the quality of their service and other inner qualities to ensure the growth of the organization in the global market. The organizational management must strengthen qualities to beat its competitors and lead the global market. Although the organizational management of Red Fish- Blue Fish has embraced many new techniques to ensure the growth like- websites for the Asian countries, maintaining a strong supply chain management with China by  purchasing the maximum fish, the management must introduce some new changes to influence the growth of the organization.

 

Reference:

Abbott, K.W., Levi-Faur, D. and Snidal, D., 2017. Theorizing regulatory intermediaries: The RIT model. The ANNALS of the American Academy of Political and Social Science, 670(1), pp.14-35.

Adekola, A. and Sergi, B.S., 2016. Global business management: A cross-cultural perspective. Routledge.

Caballero, J., Panizza, U. and Powell, A., 2015. The second wave of global liquidity: Why are firms acting like financial intermediaries?.

Cavusgil, S.T., Knight, G.A. and Riesenberger, J.R., 2013. A framework for international business. Pearson.

Kim, H., Hoskisson, R.E. and Lee, S.H., 2015. Why strategic factor markets matter:“New” multinationals' geographic diversification and firm profitability. Strategic Management Journal, 36(4), pp.518-536.

Kimura, F. and Obashi, A., 2016. Production networks in East Asia: What we know so far. In Production Networks and Enterprises in East Asia (pp. 33-64). Springer Japan.

Miranda-Agrippino, S. and Rey, H., 2015. World asset markets and the global financial cycle (No. w21722). National Bureau of Economic Research.

Oh, C.H. and Contractor, F., 2014. A regional perspective on multinational expansion strategies: Reconsidering the three?stage paradigm. British Journal of Management, 25(S1), pp.S42-S59.

Patriotta, G., Castellano, A. and Wright, M., 2013. Coordinating knowledge transfer: Global managers as higher-level intermediaries. Journal of World Business, 48(4), pp.515-526.

Purvis, L., Naim, M.M. and Towill, D., 2013. Intermediation in agile global fashion supply chains. International Journal of Engineering, Science and Technology, 5(2), pp.38-48.

redfish-bluefish.com. (2017). Seafood Eatery by the Seaside.

Rey, H., 2015. Dilemma not trilemma: the global financial cycle and monetary policy independence (No. w21162). National Bureau of Economic Research.

Rothaermel, F.T., 2015. Strategic management. New York, NY: McGraw-Hill.

Stoian, C., 2013. Extending Dunning's investment development path: The role of home country institutional determinants in explaining outward foreign direct investment. International Business Review, 22(3), pp.615-637.

Szablowski, D., 2015, July. Social Consulting Firms As Regulatory Intermediaries and the Respatialization of Rights in CSR Governance. In 27th Annual Meeting. Sase.

Tian, X., 2016. Managing international business in China. Cambridge University Press.

Wise, E., 2014. Service stations along global knowledge pipelines-on innovation intermediaries' function in fostering globalized innovation processes. Research Policy Institute, Lund University.

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