Your company has determined that the time is right to expand globally. As a corporate manager within the organization, you have been assigned to identify and select a team of five to ten members from within the organization to explore and identify two to three managerial challenges associated with global expansion. You have been given three months to assemble your team and create a PowerPoint presentation outlining your findings to the leadership team.
As the team leader, you realize you will need to identify how to successfully complete the assignment. Assuming you have completed the process of selecting your team, what are your next steps? Include in your strategy the following:
Analyze two to three team performance challenges that may arise and what corrective action you may employ to keep the project on track.
Discuss two advantages and two disadvantages of expanding globally from a leadership perspective.
Examine two management theories and discuss how each theory impacts managerial decisions from a global perspective.
Full Answer Section
- Collaboration challenges: Working on a global project requires a high degree of collaboration, as team members need to be able to work together effectively to achieve the project goals. To address this challenge, I would create a clear process for decision-making and conflict resolution. I would also encourage team members to share ideas and to be open to feedback.
Discuss two advantages and two disadvantages of expanding globally from a leadership perspective.
- Advantages:
- Increased market share: Expanding globally can help a company to increase its market share by reaching new customers in new markets.
- New revenue streams: Expanding globally can help a company to generate new revenue streams by selling its products or services in new markets.
- Access to new talent: Expanding globally can help a company to access new talent by hiring employees from different countries.
- Disadvantages:
- Increased costs: Expanding globally can increase a company's costs, as it will need to invest in new infrastructure and marketing.
- Increased risk: Expanding globally can increase a company's risk, as it will be operating in new markets with different regulations and cultures.
- Communication challenges: Expanding globally can make it difficult to communicate with employees and customers in different time zones and with different languages.
Examine two management theories and discuss how each theory impacts managerial decisions from a global perspective.
- Contingency theory: Contingency theory suggests that there is no one best way to manage a company, and that the best way to manage a company depends on the specific situation. This theory is relevant to global expansion, as it suggests that the best way to manage a global company will depend on the specific markets that the company is operating in.
- Institutional theory: Institutional theory suggests that organizations are shaped by the institutions in which they operate. This theory is relevant to global expansion, as it suggests that companies that operate in different countries will be shaped by the different institutions in those countries.
In conclusion, there are a number of challenges that can arise when expanding globally. However, there are also a number of advantages to expanding globally. By carefully planning and managing the expansion process, companies can minimize the risks and maximize the benefits of global expansion.