Innovative and Strategic Thinking Task 1&2

QBM1 QBM1 TASK 1: MARKET ENTRY OVERVIEW
INNOVATIVE AND STRATEGIC THINKING D081
PRFA QBM1
TASK OVERVIEW SUBMISSIONS EVALUATION REPORT

COMPETENCIES

3081.1.1 : The Impact of Innovation
The graduate identifies the impact of innovation in personal and professional settings.
3081.1.2 : Techniques of Strategic Management
The graduate utilizes evidence-based techniques to make strategic decisions.
3081.1.3 : Business Strategy and Analysis
The graduate applies appropriate business practices to formulate recommendations that impact organizational effectiveness.
INTRODUCTION

Todays business environment is characterized by competitive intensity that requires innovative thinking and strategic decision-making competencies. As a business professional, it is essential that you apply the principles of design thinking and strategic decision-making to positively influence the effectiveness of a business in its markets. In this task, you will provide a market entry overview, using the following scenario.
SCENARIO

A U.S. fishing boat manufacturer is known throughout the United States for its innovative approach to product design, lean manufacturing, and responsive customer service since its start three years ago. The mission statement of the company is We will provide the most innovative customer-driven design and growth in the industry. The founders ideals for the company are described in the vision statement: We will be the most sustainable company in the industry. The companys ethical statement that guides all conduct and decision-making is We will make decisions that are sustainable for customers and the environment.

The companys founders have created an organizational culture of innovation. They have provided incentives for employees creative ideas and created testing laboratories where customers use the products and provide design feedback. The founders have also invited innovators in other industries, such as gaming and information technology, to improve on the designs. The founders have cultivated a company culture in which employees and founders are considered equal partners. The company structure is decentralized, and all employees can access the founders at any time for collaboration, shared decision-making, or relationship building. All company decisions are evaluated by all employees to ensure that everyone is committed to the decisions.

The company has identified an emerging global market opportunity in India for its products. Successful sales in India could represent a critical moment for the company if the company establishes strategic partnerships that will increase the likelihood of product success. The founders hope to capture profits and market share and expand into other parts of Asia within the first year of selling products in India.

Research indicates market potential for the companys sales in India because of the importance of the fishing industry in the country. Fishing and aquaculture are primary industries in the coastal regions of India. Economic zones have been established to support the over 14 million people who are an important part of the fishing industry. This industry makes up 1% of the nations gross domestic product and 7% of global fish exports (Hanko Hackberry Group, n.d.).

The companys goal of the market expansion into India is to be the first foldable fishing boat manufacturer reaching the country. An origami-inspired foldable fishing boat is the companys most popular product. This boat comes designed as a plastic carrying case that unfolds into the water like an origami paper boat. This boat is suitable for uses in calm water, and the boat can be recycled. The product retails for U.S.$200.

Traditional fishers use nonmechanized boats, which would be ideal for the foldable boats entry into the market. Laws and regulations surrounding the use of nonmechanized boats favor importing foldable boats, which would be easy for fishers to carry from home to the water. The business climate in India is open to new partnerships to improve the fishing experience for those who preserve the natural ecosystem with nonmotorized boats. The National Fisheries Development Board (NFDB) promotes the use of natural fishing equipment to reduce disruption to the fishing ecosystem in India (National Fisheries Development Board, n.d.).

The U.S. boat manufacturers founders met with the NFDB to request an endorsement for their foldable boats because of the products sustainable design and net-zero environmental impact. The founders discovered that the NFDB would only endorse the boat if it was made of plastics used in India, in order to reduce the waste products in the nations landfills.

This endeavor would require the U.S. company to make a significant investment in India. The company would need to purchase or build a manufacturing facility, or it would need to contract with a facility owner to secure a manufacturing location. It would need to employ Indian workers. Lastly, the company would have to manufacture a new foldable boat made from used plastics in India with an environmentally friendly waterproof coating.

The new foldable boat could be designed in several ways, and the company would need to test a series of paper products and waterproof coatings to determine which would be suitable for fishers in India. The fishers range in age from 13 to 70, so the design would need to be comfortable and portable enough for all fishers in this target group.

The company decides to hire Indian fishers to help design the product to reach this market. These fishers will provide qualitative, open-ended conversations and data that will be valuable in communicating the products features and benefits to other fishers. The product will be tested by a variety of fishers that represent different sectors of the fishing industry, different regions, and different cultural segments. Testing will provide generalizable, qualitative data about the product use and effectiveness.
REQUIREMENTS

Your submission must be your original work. No more than a combined total of 30% of the submission and no more than a 10% match to any one individual source can be directly quoted or closely paraphrased from sources, even if cited correctly. The originality report that is provided when you submit your task can be used as a guide.

You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course.

A. Discuss aspects of the company from the provided scenario by doing the following:
1. Describe in detail how each of the following aspects from the scenario affect the company’s decision-making process:
company culture
organizational structure
strategic direction, including mission and vision statements
2. Describe in detail how the companys culture could affect the market entry strategy.
3. Discuss in detail whether the organizational structure is an advantage or disadvantage to the company and explain why.

B. Discuss the companys product from the provided scenario by doing the following:
1. Describe specific characteristics of the emerging market that affect the companys product.
2. Discuss in detail how either a new product or an improvement to the companys existing product would meet the market characteristics identified in part B1.
a. Include details of each of the steps the company would take in the design thinking process for the new or improved product from part B2.
b. Choose three of the following aspects from the scenario, and provide a detailed discussion of their effect on the design thinking process for the new or improved product from part B2:
company culture
emerging market culture
company ethics
emerging market ethics
organizational structure
global legal systems
3. Discuss in detail how the companys ethical statement from the scenario influences the market entry strategy.

C. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.

D. Demonstrate professional communication in the content and presentation of your submission.
File Restrictions
File name may contain only letters, numbers, spaces, and these symbols: ! – _ . * ‘ ( )
File size limit: 200 MB
File types allowed: doc, docx, rtf, xls, xlsx, ppt, pptx, odt, pdf, txt, qt, mov, mpg, avi, mp3, wav, mp4, wma, flv, asf, mpeg, wmv, m4v, svg, tif, tiff, jpeg, jpg, gif, png, zip, rar, tar, 7z
RUBRIC

A1:DECISION-MAKING
NOT EVIDENT
The submission does not describe how each of the given aspects affect the companys decision-making process.    APPROACHING COMPETENCE
The submission describes how each of the given aspects affect the companys decision-making process but is not supported by specific details from the scenario, or the submission contains inaccuracies.    COMPETENT
The submission accurately describes how each of the given aspects affect the companys decision-making process and is supported by specific details from the scenario.
A2:COMPANY CULTURE
NOT EVIDENT
The submission does not describe how the companys culture could affect the market entry strategy.    APPROACHING COMPETENCE
The submission describes how the companys culture could affect the market entry strategy but is not supported by specific details, or the submission contains inaccuracies.    COMPETENT
The submission accurately describes how the companys culture could affect the market entry strategy and is supported by specific details.
A3:ORGANIZATIONAL STRUCTURE
NOT EVIDENT
The submission does not discuss whether the organizational structure is an advantage or disadvantage to the company or explain why.    APPROACHING COMPETENCE
The submission discusses whether the organizational structure is an advantage or disadvantage to the company and explains why, but is not supported by specific details, or the submission contains inaccuracies.    COMPETENT
The submission accurately discusses whether the organizational structure is an advantage or disadvantage to the company and explains why, and the discussion is supported by specific details.
B1:EMERGING MARKET CHARACTERISTICS
NOT EVIDENT
The submission does not describe characteristics of the emerging market that affect the companys product.    APPROACHING COMPETENCE
The submission describes characteristics of the emerging market that affect the companys product but the characteristics are not specific, or the submission contains inaccuracies.    COMPETENT
The submission accurately describes specific characteristics of the emerging market that affect the companys product.
B2:PRODUCT MIX
NOT EVIDENT
The submission does not discuss how either a new product or an improvement to the companys existing product would meet the market characteristics identified in part B1.    APPROACHING COMPETENCE
The submission discusses how either a new product or an improvement to the companys existing product would meet the market characteristics identified in part B1 but is not supported by specific details, or the submission contains inaccuracies.    COMPETENT
The submission accurately discusses how either a new product or an improvement to the companys existing product would meet the market characteristics identified in part B1 and is supported by specific details.
B2A:DESIGN THINKING PROCESS STEPS
NOT EVIDENT
The submission does not include details of each of the steps the company would take in the design thinking process for the new or improved product from part B2.    APPROACHING COMPETENCE
The submission includes each of the steps the company would take in the design thinking process for the new or improved product from part B2 but does not include specific details for 1 or more steps, or the submission contains inaccuracies.    COMPETENT
The submission includes specific details for each of the steps the company would take in the design thinking process for the new or improved product from part B2, and the details included are accurate.
B2B:DESIGN THINKING PROCESS ASPECTS
NOT EVIDENT
The submission does not include 3 given aspects or discuss of their effect on the design thinking process for the new or improved product from part B2.    APPROACHING COMPETENCE
The submission includes 3 given aspects and discusses their effect on the design thinking process for the new or improved product from part B2 but is not supported by specific details, or the submission contains inaccuracies.    COMPETENT
The submission includes 3 given aspects and accurately discusses their effect on the design thinking process for the new or improved product from part B2, and is supported by specific details.
B3:ETHICAL STATEMENT
NOT EVIDENT
The submission does not discuss how the companys ethical statement influences the market entry strategy.    APPROACHING COMPETENCE
The submission discusses how the companys ethical statement influences the market entry strategy but is not supported by specific details, or the submission contains inaccuracies.    COMPETENT
The submission accurately discusses how the companys ethical statement influences the market entry strategy and is supported by specific details.
C:SOURCES
NOT EVIDENT
The submission does not include both in-text citations and a reference list for sources that are quoted, paraphrased, or summarized.    APPROACHING COMPETENCE
The submission includes in-text citations for sources that are quoted, paraphrased, or summarized and a reference list; however, the citations or reference list is incomplete or inaccurate.    COMPETENT
The submission includes in-text citations for sources that are properly quoted, paraphrased, or summarized and a reference list that accurately identifies the author, date, title, and source location as available.
D:PROFESSIONAL COMMUNICATION
NOT EVIDENT
Content is unstructured, is disjointed, or contains pervasive errors in mechanics, usage, or grammar. Vocabulary or tone is unprofessional or distracts from the topic.    APPROACHING COMPETENCE
Content is poorly organized, is difficult to follow, or contains errors in mechanics, usage, or grammar that cause confusion. Terminology is misused or ineffective.    COMPETENT
Content reflects attention to detail, is organized, and focuses on the main ideas as prescribed in the task or chosen by the candidate. Terminology is pertinent, is used correctly, and effectively conveys the intended meaning. Mechanics, usage, and grammar promote accurate interpretation and understanding.

QBM1 QBM1 TASK 2: RISK ANALYSIS
INNOVATIVE AND STRATEGIC THINKING D081
PRFA QBM1
TASK OVERVIEW SUBMISSIONS EVALUATION REPORT

COMPETENCIES

INTRODUCTION

SCENARIO

REQUIREMENTS

RUBRIC

REFERENCE LIST

COMPETENCIES

3081.1.2 : Managing Risk
The graduate utilizes evidence-based techniques to make strategic decisions.
3081.1.3 : Elements of Business Strategy
The graduate applies appropriate business practices to formulate recommendations that impact organizational effectiveness.
INTRODUCTION

Todays business environment requires competency in managing risk and in selecting a business strategy based on a companys internal and external analyses. In this task, after reviewing the scenario, you will discuss the market entry risk/reward ratio; analyze the companys strengths, weaknesses, opportunities, and threats (SWOT); and recommend a business strategy. As you complete the task, think about past projects you may have worked on that required evaluating risks and conducting risk analyses.
SCENARIO