Business Strategy-C714-Task 1.docx - Task 1 Innovative and...

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Task 1: Innovative and Strategic Thinking Course Code: C714. V2 Student Name: Brian Thomas Student ID: 000194259 12/29/2020 Student Mentor: Chevon Cook/Heather Knight A1. Discuss aspects of the company from the provided scenario by doing the following: 1. Company Culture-Leadership of the fishing boat company described in the given scenario has developed a company culture focused on creating and developing new products with the intent of expanding growth through its creative approach. Outside-of-the box thinking is not only encouraged, it is rewarded. Employees are incentivized to think creatively and customers are able to test products and provide feedback on-site. Additionally, the company has sought design improvement feedback from leading innovators in seemingly unrelated industries. This approach strongly supports an innovative company culture. 2. Organizational Structure-The fishing boat company has organized a decentralized structure which allows most decisions to be made by mid-level or lower-level managers, ensure consistently open lines of communication, and increases collaboration and idea sharing across the organization. The concentration of authority at the local level creates the ability to adapt quickly to changes not only on a consumer level but an organizational level as well. A drawback of the normal decentralized structure is that it presents the possibility of inconsistency across the brand. The company however, has met this challenge by adapting its decision evaluation process to include all employees, thereby ensuring that all decisions receive company-wide support and commitment. 3. Strategic direction including mission and vision statements- Strategic direction is the plan a company creates and implements in order to achieve its long term vision and fulfill its goals. The decision-making process must ensure that the short term objectives are aligned with the long term vision of the company in order to fulfill its mission. The long term vision for the boat manufacturing company in the given scenario, to be the most sustainable company in the industry, requires that decisions reflect the mission statement to provide innovative customer- driven design and growth.
A2. Describe in detail how the company’s culture could affect the market entry strategy-

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