Describe the differences between Ray Betzell’s and Chiu Wai’s perspectives on Shui Fabrics’ ROI in terms of the GLOBE Project value dimensions. Shui Fabrics is a joint venture between Rocky River Industries, an Ohio based company and Shanghai Fabric Ltd., of China. Ray Betzell, the general manager of Shui Fabrics along with deputy manager, Chui Wai, both share difference of opinions pertaining to the direction of the company. According to the case, Wai appeared very pleased with the overall direction that the company is headed in. Wai feels that the company has had a positive impact on the local government and it has also created jobs for a number of people in addition to boosting the economy (Daft, 2010). Although Ray Betzell …show more content…
In my opinion, both companies came to the conclusion that a joint venture could help their businesses grow faster, increase productivity and generate greater profits. It’s also apparent to me that both companies should be reminded that partnering with another business can be complex and it takes time and effort to build the right relationship. For example, problems are likely to arise if: the objectives of the venture are not totally clear and communicated to everyone involved; the partners have different objectives for the joint venture; there is an imbalance in levels of expertise, investment or assets brought into the venture by the different partners; different cultures and management styles result in poor integration and co-operation; and the partners don 't provide sufficient leadership and support in the early stages (“Joint ventures and partnering,” 2011).
Develop a strategy for addressing the situation and explain how it would help appease Ray’s boss back in the U.S. Success in a joint venture depends on thorough research and analysis of aims and objectives. This should be followed up with effective communication of the business plan to everyone involved (“Joint ventures and partnering,” 2011). The development of a new individualized marketing strategy or global marketing strategy could possibly improve the profit margin of
When a certain point is reached regarding a company’s success, a set of different opportunities arise and partnerships may unfold. However, with every possible strategy available, risks and benefits also come into play; without discarding any of them beforehand, every option is a strong candidate until a final decision is made. In this case study we will analyze the current business strategy pertaining
CHAPTER 21 PARTNERSHIPS SOLUTIONS TO PROBLEM MATERIALS | | | | |Status: | Q/P | |Question/ |Learning | | |Present |in Prior | |Problem |Objective |Topic | |Edition |Edition | | | | | | | | | | | | 1 LO 1 Partnership definition New 2 LO 2 General partnership versus LLC New 3
Strategic alliance is an agreement between two or more organizations to cooperate in a detailed business activity, so that each get benefited from the strengths of one an other, and gains competitive advantage. The formation of strategic alliances has been seen as a comeback to globalization and increasing doubt and difficulty in the business environment. Strategic alliances occupy the sharing of knowledge and expertise between partners as well as the reduction of risk and costs in areas such as relationships with suppliers and the development of new products and technologies. strategic alliance is sometimes equated with a joint venture, but an alliance may involve competitors, and generally has a shorter life span. Strategic partnership is a closely related concept. This article analyzes definition of strategic alliance, its benefits, types, process of formation, and provides a few cases studies of strategic alliances. This paper tries to synthesize the scope and role of marketing functions in the determination of effectiveness of strategic alliances. Several propositions from a marketing perspective about the analysis of alliance process are formulated. On the basis of the propositions, a framework is developed for future research
Kathleen Wright, founder of Piece and Co. had the goal to end global poverty. Many designers and fashion executives support this goal and were interested in making a difference, which is why her solution was textiles. She then provided employment to women from all across the world to create artisan fabrics, which she supplies to fashion brands and designers such as Nike, Diane von Furstenburg, Supreme, Opening Ceremony, Veronica Beard, Mara Hoffman and Shopbop. (Fleming,2016)
From the perspective of each of the partners, there are potential pitfalls to joining this joint venture. Each company is grouped with two other partners, which is risky because there are greater liabilities. If one of the partner’s reputations suffers, as a result, all of the partner’s reputations under Slimline will as well suffer. They need to work as a team and continue to do what they are doing in order to continue growing. They all have things that benefit each one, so yes there are pitfalls because without all of the initial members of this joint venture, Slimline could face some serious issues and could have some
If you are in need of highly quality custom drapery at most competitive prices, you are at your right destination. You just need to contact H. Sewing & Drapery, a full-service drapery and upholstery company specializing in custom draperies, window curtains and other home décor products. Over 20 years we have been producing and delivering high quality and custom made draperies and upholsteries made from strong, durable and beautiful materials. Quality service, reasonable rate and on time product delivery have been the trinity our services.
The lesson learned from this is that sometimes it is easier and faster reach a new market via joint venture, even though the profit will be less, but the company can save a lot of money in studying the new market trying to understand the new culture and how they purchase and also it can minimize the risk because there is a national brand supporting the new international brand, which gives confidence and security to the customers.
Mariotti & Glackin (2013) provide that development of marketing strategy and competitive advantage is from the "Four P's". The "Four P's" include product, price, promotion, and place. This paper further outlines each of the "Four P's". Mariotti& Glackin (2013) recommend continually referring to the mission statement and vision statement while developing the marketing strategy. This reference helps to build the marketing strategy and form the core competency for the business. The first part of the business plan, the mission and vision statements, are stated below:
Because every problem almost always has more than one solution, the question of whether or not a joint venture between Sakari and Nora would be the best option for either of the companies is difficult to assess. However, there are certain benefits, which are mentioned in the case, that clearly outline the initial motivation for forming the join venture. From the Sakari side, the motivation came in the form of a new market in Southeast Asia, while Nora was motivated by Sakari’s telecom technology and the possibility of acquiring it and/or replicating it in the future. The forming
However, the company has its weaknesses and one of them is that Refan does not have the possibility to move or create more fabrics in different countries because of the natural resources in order to decrease its cost. Natural products require a lot of time and employees to collect and process the flowers which make the production more expensive but more qualitative.
It is because through the joint venture, the company is more familiar with the situation of the company there. The negative outcome is that the management system different between the company. So it is hard to make a decision making. It is because there is different opinion of each person.
* To structure deal as joint venture, which would be an economical approach to entering the market with the access to the technology, cross-marketing and profits. May bring, however, the lack of control to achieving "Anywhere, Anytime" vision.
Yanai is general manager of Uniqlo. This brand is the first brand of Japan, introduction of hypermarkets style clothing sales. Through product planning for unique, development and marketing system to achieve operational lower cost of the shop, which issue in the influx of
Faruqui, M. (2014, July). Nobody can beat Bangladesh in price and quality. Retrieved from http://www.textiletoday.com.bd/magazine/873