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Need assistance with paper 1050 to 1,400 words in length .  My global venture I have chosen is De


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Need assistance with paper 1050 to 1,400 words in length .  My global venture I have chosen is Del Taco, and the region is South East Asia. All material needs to be in APA format, and have references. 

This assignment is to create a succinct internal and external environmental analysis of the student?s specific global venture. From this analysis, the students must set long-term objectives, and align the vision and values of the organization to those long-term objectives.


Paper should include the following:

The student assesses both the internal and external environments of their selected company and region.

The student creates a set of long-term objectives based on the environmental analysis.

The paper?including tables and graphs, headings, title page, and reference page?is consistent with APA formatting guidelines and meets course-level requirements.

Intellectual property is recognized with in-text citations and a reference page.

Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.

The student aligns the vision and values of the organization to meet the long-term objectives.  





Running head: GLOBAL STRATEGY SELECTION OF DEL TACO AND EAST

 

ASIA Global Strategy Selection of Del Taco and East Asia

 

Amy L Sipe

 

GMGT/540

 

September 19, 2016

 

John Hawes 1 GLOBAL STRATEGY SELECTION OF DEL TACO AND EAST ASIA 2 Global Strategy Selection of Del Taco and East Asia

 

Introduction

 

Most American fast food chains have been taking advantage of the global market for

 

years. There have been some that have failed, while others have had an overwhelming

 

succeeded. An example of success can be seen in McDonald's. Currently, McDonald's has over

 

35,000 outlets worldwide, with the majority outside the United States franchises ("Wikipedia,"

 

2016). Del Taco has established themselves within the North American market and is now

 

looking for growth opportunities. After reviewing the developing economies and recent trends,

 

it is this author?s recommendation for Del Taco to begin to consider the East Asia region.

 

In this paper, we will review the crucial component of the global strategic process, and

 

analyze the relationships between culture, leadership stakeholders, and strategic outcomes. The

 

paper will conclude with a new viable mission statement for Del Taco selected global venture. Global Strategic Process Components

 

It is also imperative to understand the difference between plans that service the firm on a

 

domestic level, may not work in the new regional market. To develop a successful global

 

strategy, one must have an understanding of the essential components of the strategic process.

 

According to Wheelen, Hunger, Hoffman, and Bamford (2015), the basic components are:

 

1) ? Environmental Scanning: included in this part are monitoring, evaluating and

 

disseminating of information from both internal and external environments to the key

 

players within the firm. The simplest way of the scanning process is through an SWOTT

 

analysis that reviews the strengths, weaknesses, opportunities, threats and trends that are

 

strategic influences for the unique to the organization and industry market. Information GLOBAL STRATEGY SELECTION OF DEL TACO AND EAST ASIA 3 collected from the SWOTT allow for the setting of quantitative targets, aiming in context

 

with the divisional plans.

 

2) Strategy Formulation: this processes investigates, analyzes, and makes the decision to

 

the direction of the firm in attaining a competitive advantage. Included are the defining of

 

the corporate mission, objectives and policy guidelines. During this process, it is

 

important to develop and assign task as well as allocate resources to achieve the goals.

 

3) Strategy Implementation: the process of putting the strategic plan into action. This is

 

generally done through the development of budgets, procedures, and programs. This area

 

may need variations as to regional and cultural influences will vary. During this stage, a

 

firm needs to have flexibility so that changes from the impacts are understood throughout

 

the overall work culture, and structure of the entire organization.

 

4) Strategy Evaluation and Control: this process allows for firm activities and

 

performance to be monitored and measured with the desired performance. Managers need

 

to allow for feedback and motivational incentives for employees during this time. It is

 

crucial that managers take corrective action and resolve issues promptly. This process is

 

typically done at the end of the cycle at a scheduled targeted date. The monitoring

 

process also can be done periodically to identify weak areas so that adjustments can be

 

made, and actions are moving forward align to meeting the company?s goals?. GLOBAL STRATEGY SELECTION OF DEL TACO AND EAST ASIA 4 The strategic process indeed never ends, as it is a perpetual cycle runs on through the life

 

of a product or the entire firm.

 

Analysis of Stakeholder Relationships

 

Expansion globally adds challenges that companies need to address and adequately

 

research to aid in the action plans for stakeholder management. This brings the next step:

 

identifying, managing, and understanding cultural influences on the relationship between the

 

interested parties. Stakeholder includes shareholders, employees, suppliers' governments,

 

creditors, trade associates, governments, special interest group, and local communities in which

 

the company operates. Each group has their value that impacts decisions of the organization.

 

Managers must have competencies to balance global standards while responding to local needs.

 

According to Boesso & Kumar (2016), ?a firm-level perspective focusses on the manager?s

 

ability to manage the relationship between the organization and various stakeholders whose

 

interest are often divergent and how managers handle tradeoffs among competing stakeholder

 

claims."

 

There are generally five stakeholder cultures in which a firm adopts; they include selfinterest, other-regarding interest, agency culture, moralist and altruistic culture (Boesso &

 

Kumar, 2016). The cultural beliefs, values and practices provide managers the clear

 

understandings of the set guidelines and what style of communication deemed appropriate when

 

interacting with each group. Global Vision and Mission Statement

 

In the East Asian region, major competitor entering the market is Taco Bell. It is our vision to

 

partner up with local farmers in the area to provide fresh produce that can be delivered to the GLOBAL STRATEGY SELECTION OF DEL TACO AND EAST ASIA 5 stores. This not only establishes a partnership but a good will reputation for the company Both

 

companies offer Mexican food; however unless you are a Taco Bell that is joint ventured with

 

Pizza Hut, you are limited to the type of food you offer. This is one area where Del Taco has a

 

significant competitive advantage. From the beginning, Del Taco has had a diverse. They not

 

only offer their central Mexican cuisine, but they also provide a touch of American with the

 

option of hamburgers and fries. The recommended global statement is ?We take pride in serving

 

our customers the freshest and best tasting Mexican fast food with a touch of American Style." It

 

is important not only to have a mission for customers but employees and shareholders as well.

 

With that in mind, our employment mission to recruit and retain would be: Del Taco is an

 

employer that provides a cohesive work environment with growth opportunities, advancement

 

and rewarding careers for their team members. The mission to our shareholder would be the

 

following: Del Taco stands true to their accountability to their shareholders by sustaining

 

profitability while increasing their value and growth. Conclusion

 

Researchers have shown how many of the region value American items, and this give

 

American Corporations an advantage. Through the success of Mc Donalds, one can use the

 

franchise model as a form of expansion and partnership with locals that can aid with

 

geographical barriers. It is this author's belief that if Del Taco can be very successful in the East

 

Asian region as long as they have an understanding of how to market to the consumers within

 

that culture. There have been competitors that have tried to enter the market that failed. That is

 

why knowledge of global strategic is so critical to the success. GLOBAL STRATEGY SELECTION OF DEL TACO AND EAST ASIA 6 GLOBAL STRATEGY SELECTION OF DEL TACO AND EAST ASIA 7 References

 

Boesso, G., & Kumar, K. (2016). Examining the association between stakeholder culture,

 

stakeholder salience and stakeholder engagement activities: An empirical study.

 

Management Decision, 54(4), 815-831. doi:10.1108/MD-06-2015-0245

 

Wheelen, T. L., Hunger, D. J., Hoffman, A. N., & C.E. Bamford (2015). Strategic Management

 

and Business Policy (14th ed.). Upper Saddle River, New Jersey: Pearson Education, Inc. Wikipedia. (2016). Retrieved from

 

https://en.wikipedia.org/wiki/List_of_countries_with_McDonald%27s_restaurants

 


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