Expanding to Germany
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Company is currently a U.S. based business, that is expanding to Germany. They manufacture automotive parts, and they hope to sell there parts to the German car manufacturers.
Details: Provide to senior management a detailed summary explanation of the long-term and short-term goals that are vital in setting direction for the company. These goals can be changed after the plan is developed, but students should point out that too much change might confuse the work force and harm credibility in the eyes of upper management. Please post your point of view that includes the following:
Give an explanation to your managers about the meaning and importance of short-term and long-term goals, and why these goals should be included in a management plan.
Write a discussion regarding whether these goals should be changed before or after the plan is developed, and why.
Discuss the impacts goal implementation has on the company and how the company would be impacted if goals are changed after the plan is instituted.
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Solution Summary
The response addresses the queries posted in 1369 words with references.
Solution Preview
The response addresses the queries posted in 1369 words with references.
//Before writing about the long term and short term goals of the business and the importance of these goals for the company, first we will write a brief introduction about the company process. Then we will discuss the meaning of short term and long term goals of the company and also the importance of these goals for the organization. This section will describe the importance of goals in management plan.
Introduction
Company in the given case is a manufacturer of automotive parts in the US. It wants to expand its business in Germany and plans to sell their product to the German car manufacturer. Competition in automotive industry keeps on increasing. General Motors, Ford and Daimler Chrysler and their suppliers are the three major competitors at global level. Low cost, operational efficiency and innovation are the barometers of efficiency for any automotive manufacturer. Germany produces around 5.5 million cars every year.
For a successful expansion, management must develop a plan that describes the company, its goals, strategies, financial and market forecast. This management plan helps in communicating with others about what the company wants to achieve and how it will achieve those goals.
Meaning:
Goals are the specific objectives for a specific time period and degree. It is the desired future states of affairs (Vroom, V.H.). There are three primary goals for any organization namely, profit, growth and survival. Company, in the case, wants to expand its business in Germany by selling its product to car manufacturers located there. Goals for this company shall include the following:
? Understanding environment
? Managing diversified workforce
? Survival
? Profitability
? Product development
? Cost reduction
? Improving customer service
? Social responsibility
Importance:
? Explain mission, vision and business phenomenon in general statement so that each and every employee can understand what the company wants to achieve and what is expected from them.
? Goals explain to the employees, ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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