Follow these procedures: If requested by your instructor, please include an assignment cover sheet. This will become the first page of your assignment. In addition, your assignment header should include your last name, first initial, course code, dash, and assignment number. This should be left justified, with the page number right justified. For example: KnightJSKS7000-8 3|
Save a copy of your assignments: You may need to re-submit an assignment at your instructor’s request. Make sure you save your files in accessible location. Academic integrity: All work submitted in each course must be your own original work. This includes all assignments, exams, term papers, and other projects required by your instructor. Knowingly submitting another person’s work as your own, without properly citing the source of the work, is considered plagiarism. This will result in an unsatisfactory grade for the work submitted or for the entire course.
It may also result in academic dismissal from the University. | | SKS 7000-8| Frank| | | Doctoral Comprehensive Strategic Knowledge Studies| Activity 3| | | ————————————————- ————————————————- Faculty Use Only ————————————————- Jason, ————————————————- Please use sources from 2009 onwards. Older ideas are unlikely to have a lot of relevance for this topic. ————————————————-
Please provide a response in the area demanded by the course designer. Jason, I worry that you are not retrieving your returned file. When you respond, please follow the MAIN TASK ————————————————- Main Task: Review of Business Ethics and Global Business Assignment For this activity you will review and explain various aspects of ethical business activities nationally and globally. You will need to research and write a explanation paper that will describes and analyze the following questions: 1. Ethical and social issues within the global market of Asia. 2.
Cultural diversity considerations for the company relative to establishing field offices in Asia. Length: 5-7 pages not including title and reference pages In addition to the textbook material for this course (properly cited within the paper), you must also use at least five (5) peer-reviewed journal articles. Use the Northcentral on-line library to search for and obtain journal articles for this assignment. Websites and other non-peer-reviewed references may be used (and properly cited in APA format), but these supplemental references are not counted toward the requirement of at least five peer-reviewed journal articles.
Your essay should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Submit your document in the Course Work area below the Activity screen. ————————————————- Please ensure that you are able to retrieve the file I return and that you read the personal feedback created for you. Be sure to review the second file I have returned – I have invested time in highlighting reference errors.
In addition, please review the bachelor’s level APA help sheet to allow your self a fast start on your road to mastering APA so that you might be able to pass your comprehensive exam and dissertation reviews. ————————————————- ————————————————- Assignment 3: Assessment for Expansion Northcentral University SKS 7000-8 08/16/2013 Methods of Business Growth Every successful startup businesses usually face the inevitable action of expansion and growth. Growth is an eventual part of any organization’s life span, which is rich with opportunity and issues.
On one side there is the fact that with growth there is also an increase in financial growth that the owner and employee can enjoy In addition, sometimes viewed as confirmation of the owner’s initial business plan and a culmination of his hard work in attempting to make his dream become reality. According to Sherman business growth allows small company owners with concerns that the owners may need to take care of such as: “Growth causes multiple changes, which may cause many challenges, such as managerial, financial, and legal.
Growth causes an influx of new employees to be hired; they will seek guidance from the upper management to lead them. Expansion means the organization will be less centralized, Expansion decentralizes an organization’s management abilities, which causes internal politic levels to rise, and this may cause dissention over projects and tasks pursued by the company. Growth causes a lot of changes that will cause the organization to evolve and change Sherman said that the need for an organization to grow has to be tempered by its need to understand long-term profitable growth, which is a byproduct of effective planning (Sherman, 1997).
Smaller businesses can grow by focusing on many different approaches. The more plausible manner would be by increasing the inventory of their product or the service provided, and not changing the manner of whole sale facilities or components. There are other methods that businesses with the desire to grow can expand, some methods include: * expansion by acquiring another business * franchising * licensing to third party * business agreements with distributors * revamping marketing methods * Joint industry * Public stock * Ownership of stock by employees
These above mentioned options are only applicable if the owner has already begun the steps necessary and laid the underlining groundwork first. Expansion begins by conducting an honest assessment of weakness and strengths of an organization (Koshner, 1997). With the set skills mentioned, a company can then identify precise markets and future opportunities the organization may want to grab. as soon as all processes and the entire structure is properly identified with a complete long range plan completed, the company will have a definitive view where it should be within three to five years and will be on its way to building a successful future.
Expansion Concerns Whichever way the company decides to choose to grow, and whichever strategy they choose to use, it is ultimately the owner who will take on the stress of all the issues and concerns associated with the expansion and it will be their responsibility to ensure a smooth transition. Growing an organization does not simply mean facing the same issues on a bigger scale; it means adjusting and understanding new adversities of a different business (Nelton, 1998). Growing too quickly Quick Growth is a common problem that usually attacks talented owners who have managed to build a successful business that provides a specific service.
This issue can often overwhelm entrepreneurs despite how wonderful success might be. Fast growing companies will often pay big prices for their success (Menninger, 1997). According to some experts of management, controlling growth rate and the issues associated with quick expansion is a very arduous task. This usually affects the operational side of an organization. The need for a product or service will out run the ability to produce or provide the service; a company may decide to expand into a different market only to lose profit when that market fails due to improper research of that previously untapped market.
Recordkeeping and Infrastructure It is very important for a small company who will be expanding to update their methods for cash flow monitoring, inventory tracking, financial management, Human resource tracking, and many other avenues of their business. If the company’s size is increased then the bill amount will increase by six fold (Barrier, 1996). There is multiple software programs out there nowadays that can aide smaller companies in establishing a designated design that will address all issues associated with expansion.
Expanding companies will need to invest in more advanced systems made for communicating if they are to provide better support in different areas of their expanding business. Money for Expansion Smaller expanding companies will need more money to finance their growth. Finding that money can be a hard task, especially for those that have not prepared, for those that are prepared; however, it can be an easier transition. Companies should constantly look over and revise their business plan on a yearly basis and constantly update all marketing strategies in order to be more prepared for any financially difficult situation.
Personal Concerns Expanding companies may also need to employ new people to fill new positions. Being careful in the hiring process is important mostly during an expansion. Very often, a company will spend a lot of time on marketing and production and will sometimes ignore personnel needs (Menninger, 1997). Expanding a business provides also offers opportunities to members of its staff who were present during the beginning stages of the organization.
The owner who sees this and views those staff members as assets will go far by promoting those individuals and there by satisfying the employees. However, during growth there will also exist the need to replace of do away with employees who may not be able to adjust to the transition. The owner may find that employee that may have been with the organization may want to pursue other goals and prefer a smaller environment and so decide to leave. Employees may not be able to grow with the organization and may need to be let go, despite loyalty and longevity (Nelton, 1998).
Needs of the Customer One significant factor of any business is good customer relations and customer service; however, it is usually the last thing that is thought about when growth and expansion takes place. Sometimes getting back to a client in a timely manner is not always possible, so sustaining the service to customers becomes hard to maintain (Menninger, 1997). With these types of issues, XYZ Construction Company may have difficulty retaining current clients, but will have difficulty maintaining new clients as well.
One way to avoid the issue is to keep adequate staff levels to make sure customer care is given the respect and attention it deserves. Disagreements Usually business relationships that thrived during the beginning stages of a company’s life may become strained as the company grows, for example an organization that may have been founded by more than one person the founders may find that they are unable to keep up with the growth level and the change of the organization, this founder due to his inability to adapt becomes a liability, and the question of can the organization afford to keep this person needs to be asked (Sherman, 1997).
Another issue that may arise during the growth process is, an owner’s vision may change drastically from that of the direction of the company. One owner may want to approach new avenues while another may want to stay on course with its current marketing strategy. If this occurs, one partner may need to leave in order to secure the success of the organization. Family Concerns Growing a company involves sacrifice of time and money, however many growing organizations have founders who began the enterprise while unmarried, or may have just married.
As the business grows so does the size of the family, the founder may feel the need to spend more family time at home that, may hinder their contribution to the organization’s growth. These founders may have to decide between continuing the growth of their organization, or sacrificing family time. Change of the Corporate Culture As an organization grows it may become difficult for a Company to maintain its core values that was there during the beginning stages of the company. The owner is responsible for maintaining and communicating these values to his employees.
However, as size of staff increases, and the market gets bigger, responsibility may not be properly distributed and the corporate culture may become different to that of what it once was, owners need to ensure they stay diligent on maintaining their responsibility. Role of Ownership As the enterprise increases in size the need to become a more strategic leader arises, it’s easier to maintain a hold on a smaller organization but when growth begins the owner must become a CEO (Nelton, 1998). As the organization grows so too the need will arise to enlist the aid of external knowledge and individuals.
Such expertise includes legal, and accounting aide, this will help identify weak points in the growing organization and help to strengthen it. To Grow or Not to Grow; that is The Question To finalize it all, some small company owners may make the choice not to grow their organization at all even though they may be able to and may have the means to do so. For a number of small business owners, the most satisfying part of owning a business, which may include the ability to work exclusively with the customer, and employees, would be reduced if the organization expands (Barrier, 1996).
Many other owners may rather not have to deal with the headache of expansion, while others still choose to maintain a smaller level of operating their business. However though they may want to remain small they must still consider the outcome, and option of not expanding their industry. One example could be if the owner of a small company decides that he needs more capital. If however they choose to maintain public stock they are no longer laying claim to keeping a small business, considering stockholders expectation is that the company will expand and produce more income.
Owners of growing businesses need to make certain that they are ready to please all stakeholders (Tomasko, 1996). However sometimes an owner may opt for slow expansion and growth rather than a surge of growth with his organization, a Limit on growth does not necessarily mean refusal of change, but choosing the right time to grow may help profits (Barrier, 1996). References: Please remember to use Hanging Indents Barrier, M. (1996, October. ) Can you stay small forever? Nation’s Business. add some publication information – volume/issue if available, certainly page numbers (the range.
A URL would be good – but not to a database.. Dugas, C. (1997, May) …And manage your money carefully. Working Woman. May 1997. As above Wiley, John. & Sons (1998) Entrepreneur Magazine Guide to Raising Money. City commaNY: John Wiley & Sons. [Substitute the author name with the title. One does not use the publisher. ] Henkoff, R. (1996, November 25. ) Growing your company: Five ways to do It right. Fourtune,. page numbers. Hoover, K. , (1999, November19th. ) Self-financing an answer for business expansion.
Memphis Business Journalcomma volume(issue) page range. Koshner, E. L. , (1997, June) A market-focused and customer driven approach to growth. Human resource planning. June 1997. Publication details missing. Not sure if this is a journal. Krajanowski, D. , (1997, August 4th. ) Maturing businesses must keep their focus on profit. Los Angeles Business Journal. August 4th, 1997. Same as Hoover Menninger, B. , (1997, July) Fast track growth. Ingram’s. July 1997. Same as Barrier Nelton, S. , (1998, February. ) Coming to grips with growth. Nation’s business.
February 1998. Same as Barrier Sherman, A. J. , (1997) The complete guide to running and growing your business. New York Times Business, 1997. Same as Barrier Stolze, W. J. , (1997) Start up financing: An entrepreneur’s guide to financing a new or growing business. Franklin Lakes, NJ: Career Press, 1997. Tomasko, R. , (1996) Go for growth. City comma NY: John Wiley & Sons. Weinzimmer, L. G. , (2001) Fast Growth: How to attain It, how to sustain It. Dearborn, 2001. I am unsure about this there is too little information – book, journal, magazine?