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Leadership And Management Global Market

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Questions:

1. A brief summary of your project.
 
2. Your resource requirements. Please suggest two for each of the following:

a. Goods and services
b. Human
c. Physical
d. Financial
e. Stock requirements
 
3. Your consultation process with your colleagues. Provide three suggestions?
 
4. Provide three (3) key performance indicators (KPIs) to measure performance
 
5. Three (3) contingency plans to cover costs spiralling out of control?
 
6. Information sources or specialist advice you would use to support your proposal. Provide three suggestions?
 
7. The person / people you would obtain approval from for your plan. Provide three suggestions?
 
8. Provide three (3) methods for ensuring the work team’s understanding of the plan?
 
9.How will you allocate and manage financial resources?
 
10.What approaches could you employ to improve resource usage and eliminate resource efficiencies and waste?
 
11.Explain how you would incorporate requirements for intellectual property rights and responsibilities within your organisation?
 
 

Answers:

1. Summary of the project:

The focus organization is looking to expand its reach in the global market with the minimum utilization of resources. For that reason, it has focused on maximizing the utility of all the resources for fulfilling objectives. Now, global expansion required proper coordination among all the teams or departments for ensuring successful fulfilment of all the responsibilities. The operation plan of the organization has primarily focused on enhancing the marketing, inventory and financial activities for achieving sustainable growth in the global market.

2. Resource requirements:

Goods and services: In order to realize the global operational plan, the organization will have to enhance product diversity with effective customer services.

Human: It is obvious that the organization will have recruit both skilled and non-skilled labour for fulfilling all the requirements of the operational procedure.

Physical: It will have to target all the prime cities from Europe and Asia to enhance the sales volume in a major way. It will also have to focus on using advance technologies for achieving sustainable growth in the market.

Financial: Huge amount of investment has to be made on enhancing the production capacity. It would also have to focus on investing massive amount on logistics operation process.

Stock requirements: Stock requirements will have to focus on enhancing the present level of raw materials and production machinery for accomplishing operational objectives.

3. Consultation process with colleagues:

Focus group, interview and advocacy are the three types of consultation process will be utilized for capturing necessary information. The type of consultation process will depends on designation and experience level of the colleagues.

4. Key performance indicators:

For assessing the effectiveness of the operational process, the focus will be on three prime KPIs including revenue improvement, cost reduction in operational process and increase satisfaction level of the customers. These three factors will provide a clear regarding the way businesses is expanding in the global environment.  

5. Contingency plans to cover cost:

First contingency plan will have to focus on developing risk assessment strategies for handling future challenges comprehensively. For that reason, it will have to assess technological changes, differences in needs and preferences of the global customers. Second contingency plan will have to focus on identifying second best alternative physical resources that would minimize the adverse impact on operational process of the organization. It would also help organization to assess the kind of impact new introduced technologies can have on the business processes. Third contingency plan would focus on enhancing the diversity level of the employees within the workplace. It will help to handle all the global customers in an effective manner.    

 

6. Information sources or specialist advice:

The operational process will have to focus on collecting information through the initiated strategies of the competitors. It will help the organization to make some necessary adjustments within the operational procedure for fulfilling all the business objectives. Secondly, it will have to focus on outsourced market research activities for capturing information about the needs and wants of the targeted global market. It will also help to understand cultural and religious values of the target market in a comprehensive way. Thirdly, it would have to analyze online platforms and social media trend for successful fulfilment of all the requirements of the operational procedure.

7. Approval for plan:

The plan needs to take approval from the production manager, logistic manager and finance manager, as it will provide authenticity to the developed plan. Taking approval from the mentioned personnel will provide a realistic guidelines or suggestion for completing operational procedure. For instance, production manager will able to provide the exact amount of capacity needs to be enhanced for fulfilling all the responsibilities in an effective manner. While, finance manager will provide the amount of funds need to be allocate in different departments for fulfilling operational objectives. Finally, logistic managers will provide suggestions regarding the areas where inventory or warehouse will have to be developed for global business activities.

8. Methods for ensuring the team understanding:

In order to provide proper information to the team, the organization would focus on three methods including feedbacks, debate and presentation. It will help to understand the present state of mind of the employees effectively. In addition, it will also allow employees to have a clear vision for moving forward, which will in turn keep all employees motivated towards the roles and responsibilities. On the other hand, collecting feedback will allow understanding employee’s perspective comprehensively, which is likely to create positive impact on the employee engagement procedure.

9. Allocation and utilization of financial resources:

In order to fulfil the requirements of the operational plan, major share of the financial resources will have to be invested on the marketing activities. Otherwise, it will be very difficult to establish the business in the global market. Secondly, production capacity expansion is another critical process that will require effective utilization of the financial resources. Without expanding the production capacity, it will be very difficult for the organization to establish the business in the global environment. In addition, financial resources will also have to be utilized for the development of strong relationship with the suppliers and distributors.

10. Approaches for improving resource usage:

The organization will have to focus on introducing advance technologies like ERP and inventory management software for enhancing the effectiveness of the operational process. It is also necessary to focus on providing proper training and development facilities to the employees so that they can able to handle all the responsibilities of the operational process. In addition, organizations will also have to focus on developing effective communication and coordination among the departments, which will ensure maximum utilization of all the resources.

11. Incorporate requirements for intellectual property rights:

The organization will have to focus on effective utilization of intellectual Property that includes trademarks, invention, geographical indications and industrial design for fulfilling the aims and objectives of operational plan. Thus, marketing team will have to take added responsibilities to provide necessary information to the customers. In addition, all the products and service of the organization needs to position in such way so that it can allow customers to recognize all the intellectual properties in an effective manner.

 

References:

Avolio, B.J. and Yammarino, F.J. eds., 2013. Introduction to, and overview of, transformational and charismatic leadership. In Transformational and Charismatic Leadership: The Road Ahead 10th Anniversary Edition (pp. xxvii-xxxiii). Emerald Group Publishing Limited.

Bolman, L. and Deal, T., 2014. Leadership and management. Christian Youth Work in Theory and Practice: A Handbook, p.245.

Finkelman, A., 2015. Leadership and management for nurses: Core competencies for quality care. Pearson.

Gold, J., Thorpe, R. and Mumford, A., 2012. Leadership and management development.

Maringe, F. and Foskett, N. eds., 2012. Globalization and internationalization in higher education: Theoretical, strategic and management perspectives. A&C Black.

Mujtaba, B.G., 2013. Managerial skills and practices for global leadership.

Nahavandi, A., 2016. The Art and Science of Leadership -Global Edition. Pearson.

Stacey, R.D., 2012. Tools and techniques of leadership and management: Meeting the challenge of complexity. Routledge.

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