Methods Of International Expansion Essay

Length: 6 pages Sources: 3 Subject: Business Type: Essay Paper: #308618 Related Topics: Expansion, Scientific Method, Food Safety, Physical Anthropology
Excerpt from Essay :

Keys to Success in Multinational Companies

Designing of comprehensive best practices policies

Sanitation

Eating and/or drinking

Conflict Resolution

In-house Teams

Online Team

Security

Emergency Evacuation Procedures

The Key Benefits of Creation of the Policies

Ramification if such policies are not created

Significant ways in which the best practices policy contribute towards the long-term sustainability of the company

Determine whether or not the best practices policy provides a competitive advantage

International expansion is often the goal of many large companies. However international expansion means functioning in alien business environments with attributes very different from the domicile country of business. But for expansion of business, every corporate would want to venture into new markets (Ackerman, Pipek & Wulf, 2003).

At this juncture, companies have to take crucial decision based on information and data gathered from the new markets. In such situations companies are often bombarded with a constant and voluminous stream of data on a regular basis. Companies and its managers need to take critical decisions based on the data collected which often is huge and difficult to analyze. Moreover, a company with multiple foreign branches would want to utilize the experience gained from every market and apply the strategies to the other markets in suitable manners. Therefore companies require the assistance of knowledge management that gathers, stores, analyses and distributes the knowledge gained from various sources for the benefit of the company and the company employees for better performance (Ackerman, Pipek & Wulf, 2003).

In this paper I would design a list of comprehensive best practices policy, playing the role of a vice president of a multinational company in food products industry, so the company can function in the best possible way in a foreign market. The best practices guideline would help the company to handle regular work efficiently as well as have a repertoire of practices that can be put to use in cases of emergencies like earth quakes, bombing etc.

The list of best practices would include issues related to sanitation, eating manners, conflict resolution, policies related to in house team, online team and security. The paper would also look into the potential benefits of the best practice policies and the possible consequences of not having such policies in place. We also look into the possible long-term sustainability of the company following these guidelines and practices and the functional and competitive advantage that the company can get by following the best practice guidelines.

Designing of comprehensive best practices policies

Sanitation

The guidelines enumerated in the National Sanitation foundation (NSF) or other certified programs would be applicable for all food equipment or utensils except, water heater, microwave oven and mixer

The company would get certification from the National Sanitation foundation (NSF) so that assurances can be given about the standards of public health of the company products.

NSF certification in its foodservice equipment should be obtained as NSF is the standard benchmark for food equipment products certification globally ('National Science Foundation (NSF)', 1994).

Every step needs to be taken to ensure employee sanitation standards are maintained for employees engaged in food manufacturing, processing, packaging and other food preparation processes

Adequate waste management and disposal methods need to be implemented in accordance with international and national standards.

Toxic materials should be stored and kept at designated places only.

Eating and/or drinking

Consumption of healthy food products should be encouraged in the company

The products produced should strive to ensure health elements in them

Promotional campaigns should highlight health advantage so the company products

Healthy food products should be competitively priced

Food safety regulations should be followed for storage and handling of food products

Strictness should be maintained for employee cleanliness

Conflict Resolution

Strict restrictions on the use of bad words, oral or physical harm to any member of staff

Maintenance of peaceful working environment...

...

Department of Agriculture and Consumer Service

Regular inspection of food products should be conducted as per guidelines and rules

To prevent theft and subversive activities, strict physical security of workplaces and storage facilities is advised and policies should be drawn up by the concerned department

Strict policies for online security should be adopted

Emergency Evacuation Procedures

Emergency evaluation plan should be boldly displayed a multiple places in the office and workplace

Every employee should have working knowledge of the evacuation policies

Specific roles and responsibilities need to be assigned to selected persons in emergency situations like sounding of alarm, informing the authorities, ensuring evacuation, etc.

Conduct drills of emergency situation evacuation on a regular basis to check alertness of the employees

The Key Benefits of Creation of the Policies

For every company synergy of various processes is necessary along with norms that create a uniform culture in the establishment. The formation of the policies helps in the Enhancement of the decision-making capabilities of the employees of the company ad creates a universal standard across the various branches of the company. The policies can help in making high-quality and well informed decisions. The policies can be better utilized through the sharing and distribution of the knowledge gained across the company. The policies would act as guidelines for line managers that help them to take decision in critical times as well as for day-to-day functioning.

The distribution of the policies also helps in building learning organizations by making learning a routine affair. The sharing of knowledge and its distribution creates an organizational culture where every unit can contribute in the knowledge repository to further better the policies and the knowledge sharing process (Singh, 2010).

The sharing of the policies and their implementation would also ensure that there is an advent of cultural change and innovation. The free flow of ideas and the following of the policies can help in the generation of better ideas and thus help the company further.

Ramification if such policies are not created

As already mentioned in the previous section, policies help create a universal organization policy that everyone would require to follow and hence create a universal standard for the products and services as well as for the reactions and actions to be taken in day-to-day functioning and emergency situations. Policies are designed to avoid any form of confusion and double standard sin the company.

If the policies were not in place then the various international branches of the company would be functioning as separate and isolated units. There would be no universal standard in the company not only in the way cleanliness and hygiene and other day-to-day activities are done but also how employees and managers should react in emergency situations. The policies are formulated keeping in mind the company objectives and in line with the best outcome for the company and the employees. Absence of the policies would result in confusion and varying standards within the company that would ultimately affect the reputation of the company and in cases, affect the company financially and process wise.

The absence of the policies could encourage various form of unscrupulous activities and actions by the employees and affect the overall performance of the employees and thus the company. The absence of the policies would also result in a void in relation to the creation of a universal organizational culture.

Significant ways in which the best practices policy contribute towards the long-term sustainability of the company

One the major advantages of creation of the policies is the instillation of a universal corporate culture across the company (Singh, 2010). The various units of the company function in a similar manner and hence add to the sustainability of the company. The policies for best practices have been designed according ot the industry benchmarks and hence are of the best quality. Following these policies and instituting necessary changes in them whenever required would help the company maintain a high level of quality in terms of products and services and hence enhance sustainability. Moreover…

Sources Used in Documents:

References

Ackerman, M., Pipek, V., & Wulf, V. (2003). Sharing expertise. Cambridge, Mass.: MIT Press.

Bowie, N., & Schneider, M. (2011). Business ethics for dummies. Hoboken, NJ: Wiley.

National Science Foundation (NSF). (1994). Anthropology News, 35(4), 37-45. doi:10.1111/an.1994.35.4.37.5

Singh, S. (2010). Handbook of business practices and growth in emerging markets. Hackensack, NJ: World Scientific.


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