Assignment Task:
Formulate strategic business decisions from a management, leadership, and organizational design perspective.
In this assessment, you will address two Course Outcomes related to strategic planning to enter international markets.
Scenario: You will evaluate the "Award Application Summary" as a business case. You are the director of strategy and business intelligence for Midway USA. You are conducting an evaluation of your chosen company for an upcoming annual report. Your goal is to demonstrate skill and expertise in strategic analysis of the strategic position of your company. You will be submitting this report to other C-level executives for consideration. Use the following criteria to make strategic decisions for your chosen award-winning organization.
Part 1:
1. Provide background information about MidwayUSA, including topics such as the company name, industry sector in which the company operates, products, and target market. Elaborate and use research.
2. Explain what strategic planning is and why it is important to a company by giving practical examples and synthesizing strategic management theories, principles, and concepts using research.
3. Identify and present an opportunity for MidwayUSA to expand into an international market. Use the Global Edge website. Conduct additional research on the company website. Consider expansion ideas such as the creation of a new product, demand for an existing product, creation of a satellite location, creation of a grant-funded foundation or project, development of a subsidiary, etc. be creative and innovative.
4. Provide reasoning why MidwayUSA should enter your chosen international market.
5. Conduct research on your chosen international market. Explain the complexity of entering your chosen international market using the diamond of national competitive advantage.
6. Conduct a competitive analysis of your chosen international market.
7. Identify and explain which of the three main approaches to international strategy is most appropriate for your company to employ as it expands into this new market.
8. Explain the cross-border strategic moves Midway USA faces by expanding into the international market.
Part 2:
1. Explain the value of expanding into your chosen international market from the perspective of diversification strategy.
2. Explain whether it is best for Midway USA to acquire an existing business, engage in corporate venturing, or establish a joint venture to enter your chosen international market.
3. Will your company diversify into a related, unrelated, or related-unrelated business? Explain your strategic decision.
4. Provide recommendations on how your diversification strategy can be profitable for your company.
5. Develop and present SMART goals that will drive your company to successfully enter your chosen international market.
6. Develop a business letter to persuasively present your strategic framework for expanding the company into your chosen international market.