MBA FPX5910 Capella University MBA Capstone Project Presentation

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MBA Capstone Project
Erika Arellano
Capella University
MBA-FPX5910
January 31, 2022
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Executive Summary
Investigating the best approaches to streamline the performance of Tecno Company is
very critical. The opportunities and the challenges associated with the organization are first
analyzed, and then solutions are proposed. The analysis will aid in identifying the best possible
approaches the organization should adopt. Moreover, the ethical attributes regarding the
organization are analyzed critically, which encompass compliance and governance. As such, it
will boost the overall performance of the business. The other aspects to be analyzed when
conducting the research will be leadership and collaboration. Such will include a reliable
network and risk-taking. The last aspect of the research will be the recommendations to help
ensure the organization can achieve its primary objectives.
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Introduction
In the age of drastic changes in globalization, experts, administrators, and researchers
have noted that systems, associations, and strategies in a global environment must be taken as a
norm. Recent studies have shown that the success or failure of a 21st-century business will solely
depend on its capacity to compete at the global markets, particularly in the sustainable markets.
Turnbull and Haddud (2018) assert that global technology must bring together a vital
dissemination capacity and at the same time determine how operations are exercised and
coordinated, such as marketing across the globe and sourcing. Advertising technology has been
recognized as one of the fundamental aspects of the global partnership process. For instance,
robust promotion strategies will attract customers from different parts of the world, particularly
those with similar preferences. In the modern-day world, the fundamental element for all the
competing businesses is to achieve economies of scale that align with the global market. In that
regard, organizations across the globe that only deal with unique customer preferences are
doomed to extinction and be replaced by those producing standard products and distributing
them using robust strategies.
According to MacKenzie (2017), Tecno company is a versatile mobile manufacturing
organization that prides itself on producing high-quality smartphones at competitive prices. Such
has enabled the Company to gain a wider market share, which is a fundamental source of
benefits resulting from its competitive advantage. The vast majority of customers worldwide are
thus willing to sacrifice premium products for high quality and, at the same time, low, priced
smartphones that offer similar functions and features. The interdependency of the different
countries shows that the global approach has two primary measures: configuration of activities
responsible for creating value for the customer alongside an amalgamation of these particular
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activities in various markets. According to MacKenzie (2017), the fundamental foundation of the
global markets is grounded on the view that additional assessment of the exercise takes
advantage of differences in cost factors and heightens the benefits through jointly planning the
interdependencies between different industries. With that said and done, Tecno Company’s
demands for prosperity will achieve a combination of the serious situation of the association in
all the areas of activity.
Tecno Company is a well-established mobile phone producer based in Hong Kong but
with expanded operations in various Asian, Western, and African countries. The Company has
been at the forefront of developing a strategic mission to expand its business operations in global
economies, particularly through producing competitive products. The Company aims to create a
brand in the world market by producing quality products offered at competitive prices. For
instance, the organization has adopted a robust strategic system and operations management,
which is a fundamental aspect of establishing itself in a global market. Moreover, the Company
strives to expand its operations in its quest to reach the target customers. In order to effectively
expand the company operations, the main aspects that need to be factored in include assessing
the business challenges, opportunities, ethical aspects, collaboration and leadership, and
recommendations. Proper management of a big corporation such as Tecno Company can be
rewarding but at the same time frustrating. Even though the organization has been ranked as one
of the best mobile phone producers, it has to embrace more robust approaches in order to expand
its operations fully.
Business Systems, Processes, and Technology
Advancing Tecno Company necessitates comprehensive effort from the team managing
the Company. The Company should change how it conducts its operations to enable business
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growth. This change encompasses all business operations, including production, customer
services, sales, finances, support network, and operation processes, including accounting and
management. Tecno Company can apply societal marketing concepts while starting new
branches and boosting the already established businesses. According to Kovacs & Kot (2017),
societal marketing is a concept in marketing that requires that a company or an organization
make strategic marketing decisions while considering all parties involved in making up the
Company or organization. The Company must make sure that it serves the requirements of both
the Company and the consumer needs are satisfied. Most importantly, Tecno company needs to
ensure that its activities and services benefit society, thus creating a good image. This image will
go a long way in ensuring that the business achieves its goals.
The concept of societal marketing can be beneficial to both small and well-established
businesses. In that regard Tecno Company can employ this concept to advance to a higher level.
According to Singhal (2017), the concept of societal marketing is indispensable in building or
improving the image of a company or an organization. This concept will aid in the business’s
growth and thus lead to an increase in sales. In addition, businesses will have an added advantage
over competitors, thus enabling them to extend their market. This type of business will attract the
people residing near the business and those far away and thereby serving for the benefit the
community at large.
This concept is also an essential tool in enhancing a long-term relationship with the
customers (Luwesi et al., n.d). By availing desirable and pleasing products, the customers will
likely keep using their products, and thus, the company will maintain a wider market.
Furthermore, the businesses can utilize the profits realized to boost their production.
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The role played by technology in Tecno Company cannot be overemphasized. It aims to
ensure that the technology used equals the evolving technology. The company guarantees this by
incorporating new features in the new brands of mobile phones. Tecno company needs to make
more investment in higher technology. The company should also organize campaigns that will
involve selling the company’s products in other countries. These campaigns will expand the
market and consequently lead to an increase in sales.
While arranging these campaigns, the company needs to invest in information technology
strategies that it will utilize to ensure that most populations receive the intended message. The
use of social media enhances brand awareness (Bilgin,2018). This approach includes streaming
live videos of the campaigns employing different platforms in social media like YouTube,
Facebook, and Instagram. These platforms have many target customers, and thus, information
will be far-reaching. It also allows the interested parties to follow the live campaigns regardless
of their location. Therefore, the marketing department in Tecno Company should make sure they
constitute a deliberate plan to fascinate more people in all parts of the world.
Competitive Strategy
Product Strategy
As a new business enterprise, it is equally difficult to gain a clear picture of the business
image in the market given that the capacity of advertising mobile phones has gradually changed.
Moreover, the speed of mobile phone users has slowed down for the past decade, which has
reduced the market usage rate. The vast majority of customers are more interested in product
quality (Verbeke & Asmussen, 2016). Therefore, Tecno company has determined the market and
customer base, especially in African countries. More often, customers prefer quality products
offered at an affordable price. The strategy for the items produced by this Company is standard
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because they are user-friendly, stimulate customers, and strive to create customer-centric
products and services. Tecno Company adopted this approach because customer-oriented
organizations tend to reprogram their operations, set measures, and evaluate their exposure to
customer loyalty. Tecno Company responds to customer needs and problems, irrespective of
whether they match the most recent models in the industry or not. In other words, Tecno
Company strives to meet customer needs while at the same time adapting the products to the
market.
Pricing Strategy
The price of a commodity is a fundamental factor that can lead to generating promising
revenues in the market mix. Moreover, other advertising factors count as costs. Tecno Company
requires proper control of the cost of products because its facilities and equipment’s fixed costs
are relatively low. Effective control of variable costs can aid in reducing the overall cost of items
manufactured by a company (Beamish & Lupton, 2016). The Company increases the supply of
mobile phones; it uses a cost-based estimate, which improves the supply of products. A reliable
pricing strategy would help the company become competitive, especially in the rapidly growing
environment.
Functional Perspectives Holistically and Individually
Despite its massive success in Africa, Tecno Company has faced several challenges,
including competition and counterfeit products (Qumer & Singh, 2019). Employing strategies
such as societal marketing can aid in dealing with competition challenges and therefore enlarging
the market of its products. Counterfeit phones have also been a challenge, making it difficult to
distinguish between Tecno products and phones from fake brands and thus affecting sales.
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Designing strategies to counter this challenge can be an outstanding opportunity to increase the
company’s revenue.
Opportunities and Challenges
Contrary to managing small businesses, which seem less challenging, working large
companies is quite demanding due to enormous resources. Tecno Company is no exception. It
was started in 2006 in Hong Kong, with its market entirely in Africa. Since its establishment,
Tecno Company has developed its name, dominating the African market. This success results
from producing quality, affordable products which keep up with the latest technology. Tecno
Company also employed the strategy of innovation to enter the market. This strategy aims to
invent products that differ from competitors in terms of appearance, thus giving them a
competitive advantage over other phone manufacturers.
However, despite Tecno Company being a success, it has faced several challenges. These
challenges include counterfeit phones, a slow-growing African economy, and stiff competition
from other smartphone dealers. Like many phone companies, counterfeit products are a
significant threat to Tecno Company. These fake products are sold at lower prices, thus leading
to a decrease in revenue. In addition, stiff competition from other phone companies also poses a
challenge. However, there is an opportunity for the company to innovate in products with unique
features to compete with smartphones from other companies.
Moreover, since the company’s businesses have concentrated majorly in Africa, there is
an excellent opportunity to start new branches in other continents. The company should employ
the same entry strategies they used to enter the African market in establishing businesses in
different continents. The company should explore markets in other continents and design
products that meet the demand in those markets.
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Solutions to opportunities and challenges
I.
II.
Innovation in unique products.
Starting new branches in other continents
To sustain its position in a market with fierce competition, Tecno company needs to
innovate and come up with products with unique features that will compete with products from
competitors. They should also keep using the latest technology to equal the fast-evolving
technology, thus ensuring they design their products with advanced technology. In addition, they
should employ strategic marketing approaches to keep their consumers and attract more new
customers. The company should also make products focusing on specific demands in the market
to keep winning over its competitors.
Tecno Company should also consider opening new branches in other continents. This
development will aid in enlarging its market all over the world. Consequently, there will be an
increment in revenue for the company. The company needs to advertise its products to create
awareness to potential customers in these continents. These advertisements will involve using
online platforms such as Facebook and using campaigns to launch the company’s products. The
company can employ business ambassadors in these campaigns, and this would aid in attracting
the attention of the consumers. These ambassadors can describe the unique features of the
company’s mobile phones and why they consider the products best for customers over other
smartphones. During the launch, the ambassador needs to use a language that the potential
customer can understand. They should also capture the consumer’s attention by using attractive
words. Moreover, their advertising strategy should be unique from those of competitors.
Strategic, Sustainable, and Innovative Approaches to Business Planning and Practices
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Expanding Tecno Company and opening new branches in other countries requires
adequate planning. It encompasses establishing a clear vision and objectives since it will drive
the business to attain success. Tecno Company’s vision in that regard is to provide and develop
innovative and high-quality products, services, and solutions that offer the best value to its
esteemed customers. Moreover, the company strives to enhance shareholder value continuously.
However, the strategies for expanding the business and developing new branches should be
sustainable and innovative. These strategies include market segmentation, positioning, and
targeting. Ser?dio et al. (2018) posit that market segmentation, targeting, and position
abbreviated as (STP), are the most fundamental strategic methodology that the vast majority of
marketers employ in the quest to create communication campaigns. In the Tecno Company case,
STP is incorporated because it will be a fundamental requirement in guiding marketers to
identify propositions while at the same time conveying personalized and crucial messages to
involve different customers. Market segmentation and position mainly focus on four primary
factors, namely’ geographic, demographic, behavioral, and psychographic.
i.
Geographic
This aspect focuses on countries, states, and regions in which Tecno Company intends to
conduct the campaigns regarding its expansion. An in-depth investigation of the way in which
people relate, especially in their residential areas, is critical in determining the target customers.
For the organization to be successful in the global market, marketers should analyze the
shopping centers in every location the Company intends to invest in its operations. For instance,
marketers have visited different countries, especially Africa, to ensure the information message
reaches the intended and potential customers.
ii.
Demographic
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The message that pertains to Tecno products is delivered to people is modified in terms of
sex, family, income, education, age, and gender. The products produced by Tecno should be
offered at a competitive price. In addition, the organization should ensure the message
disseminated does not offend the intended customers, particularly young people who offer the
largest market.
iii.
Psychographic
The message drafted for the Tecno company campaigns should match different people’s
lifestyles across the globe. In that regard, the social class and personality of the company
marketers should be pleasing to the eyes of the target audience.
iv.
Behavioral
The campaign strategy adopted should demonstrate how the organization is loyal to the
customers. The ads used during the campaigns should encompass giving out offers to audiences
that are able to offer significant insights concerning Tecno Company products. Through this
approach, the company will be in the position to understand customer needs and modify products
to meet their preferences.
Collaboration and Leadership Strategies and Principles for Global, Culturally, and
Virtual Environments
i.
Risk-taking
Forward-thinking leaders are risk-takers in nature (He et al., 2017). The decision to take
the risk of expanding the Tecno Company and opening new branches in other countries is
helpful. In order for Tecno Company to earn more from the production, it should strive to
increase demand. Fontana & Sawyer (2016) explained the mechanisms in Keynesian theory and
how they play a critical role in boosting growth. Based on The Keynesian Theory, for a business
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or organization to grow, it should increase the overall demand for products or services.
Therefore, Tecno Company will devise a workable plan for its expansion and opening the new
branches in other countries. Therefore, it will be equally important to conduct a risk management
plan with the aim of allowing the management team of this organization to handle the aligned
risks. Effective risk management will help the business grow immensely while avoiding any
possible loss associated with expanding and opening more branches offering the same products.
He et al. (2017) posits that risks can occur either externally or internally and at times
from human issues. Hazards can also be categorized as either intended or accidental and can
result from many other aspects, including politics, technology, among others. Internal drivers are
in most cases triggered within the company, and they encompass such aspects as leadership,
vision, mission, and change agents within the organization. On the other hand, external drivers
include customer needs, investors, technology, and competition. The potential risks realized
when running Tecno Company expansion as well as opening new branches in other countries can
lead to overspend budgets, unhappy clients, and unrealized benefits. The organization should
thus devote a lot of time managing the risks rather than just concentrating on the expansion of
the business operations. Proper risk management alongside successful expansion will guide the
organization towards achieving happy clients.
Studies have shown that Delphi techniques alongside internal meetings are generally
employed to mitigate and identify issues in a business. By definition, Delphi techniques are the
multistep methods that most leaders employ in predicting future requests for particular services
or products. With this approach in place, a group of experts in the schedule, costs, or risks
forecasting share information and produces the estimates that the Tecno Company manager will
hand over to the analyst. The analyst then reviews and then presents to the management team a
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summary report. The technique can also be employed when coming into an agreement on issues
that pertains to investing the Information Technology ideas. It mainly involves coming up with
different ideas from the IT specialists. According to He et al. (2017), combined ideas result in the
best decisions, thereby coming up with the most effective mitigation actions for the Techno
Company.
Moreover, Tecno Company can employ enterprise risk management in its quest to
manage risks encountered during the organization’s expansion and opening of new branches.
Callahan and Soileau (2017) posit that enterprise risk management refers to the documentation,
assessment, and ordering of risks followed by the synchronized and economical use of resources
to monitor and control the probability of influence of unexpected actions. According to Callahan
and Soileau (2017), enterprise risk management is a fundamental requirement to the business
environment in the sense that it brings about the excellent value to the Company. An
organization starts an attempt to take business chances that could be available within its capacity.
More often, there is doubt if the business will take the opportunity or disregard it. In a business
setting, each endeavor is linked to risk. Enterprise risk management will help Tecno Company in
making the right decision and evaluate the possible uncertainties when an opportunity emerges
while the project is underway.
The possible threats to a business project can be reduced through mitigation strategies. As
such, they include but are not limited to transferring, controlling, accepting, and avoiding risks.
Taking or rather accepting risks is an approach employed by an organization’s project managers
when they are aware of the possible risks and the best strategies to overcome them. Threat
prevention is the strategy that entails coming up with ways to overcome the possibility of threats
occurring. Control of the business risks entails a situation whereby team members in an
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organization find the best methods to regulate the effects of the threats. Risk transfer is a strategy
that involves giving a different party the mandate to handle the risk, such as the insurance firm.
ii.
Strong network
Leadership and collaboration skills are vital in ensuring a business achieves the set
targets. Successful expansion of Tecno Company requires the stakeholders to be aligned with the
organization’s goals. The important stakeholders at Tecno Company include the government,
respective communities, suppliers, customers, and employees. Customers are essential in making
purchases on the products offered by the company because they strategically plan to invest
further. According to Jones et al. (2018), customers guide the direction to be taken by a business
during its expansion. Company employees are a critical part of the organization because it is
their primary source of income. Therefore, they are critical in helping the company’s strategic
plan succeed due to their skills and commitment to the growth of the business. Suppliers are
imperative for business growth because they provide the raw materials necessary for the
production process. Proper expansion of a business calls for dependable and loyal customers.
The organization’s activities owe the government and community social and ethical
responsibilities. Therefore, a business needs to familiarize itself with such responsibilities to
expand the business operations successfully.
The management team at Tecno Company values the delegation concept. A leader should
be an effective and reliable team builder. Moreover, it is equally important to have a robust and
trustworthy team since such would help support the progression of a given objective. At Tecno
Company, there is the need for reliable approaches to business practices as well as planning for
the organization to challenge the management and leadership personnel. The company also needs
a culturally diverse environment that incorporates flexible perspectives and collaborative
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approaches. The strategic plan adopted by Tecno Company should factor in the ethical
implications, ethical dilemmas, and ethical conflicts concerning different stakeholders.
Principles of Integrity and Ethics into Business Decisions
The principles include compliance and governance;
i.
Compliance
Compliance covers business ethics to a greater extent. Tecno Company complies with the
regulations and laws established by different countries with regard to protecting the privacy of
personal information. As such, it is done to avoid violating government laws and regulations.
Tecno Company should pay taxes to the government and produce mobile phones that are up to
the standard. The company can only collect, use or process personal information based on an
individual’s consent or in accordance with the regulations and provisions of applicable laws
during the use of Tecno services.
ii.
Governance
Tecno Company strives to improve the various ethical issues that pertain to business
governance. The improvement encompasses the manner in which employees and customers are
treated. Proper governance entails getting rid of the individuals and stakeholders who abuse
power. According to Crane et al. (2019), good governance implies a leader’s capacity to practice
the principles of integrity and ethics. However, workplace conflicts are inevitable, and hence
leaders should find the best ways to solve the emerging issues ethically since such helps boost
the image of the business.
Conflict management is one of the fundamental skills for managers and supervisors.
Learning the best technique to address disputes in an efficient way is a fundamental skill for any
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personnel in the management team. It is the key to preventing conflicts from adversely affecting
employees’ professional growth. The conflict resolution process follows five significant steps:
i.
Defining the source of the conflict. Gathering adequate information about the source
of the problem enables leaders to employ the best strategy to solve it. Managers or
supervisors should give parties in conflict a chance to share their side of the story. As
such, it gives leaders a better understanding of the situation at hand as well as
demonstrates their impartiality.
ii.
Looking beyond the incident. Conflicts should be viewed from a wider perspective,
and this entails paying attention to the details of the incident. For instance, leaders
should guide the parties in conflict to look beyond the triggering incident to realize
the real cause. The other approach to assessing the conflict in detail is asking probing
questions before making the final resolutions.
iii.
Requesting solutions. After in-depth research into the problem, it is important to find
the solutions to avoid the resurgence of the same unethical behavior in the future.
iv.
Identify the solutions which both parties can support. Managers should listen to both
disputants in order to come up with the most acceptable course of action. To
effectively achieve this, one should point out the benefits of various ideas regarding
how they are useful to the organization and not just from disputants’ perspectives. For
instance, a leader might propose collaboration as a solution to the issues emanating
from teams in various departments.
v.
Agreement. The mediator’s aim should be to have the two disputants unanimously
accept one of the solutions proposed. The goal is to reach a negotiated agreement.
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Forward-thinking mediators write up a contract in which actions and time frames are
specified.
Recommendations
Successful implementation of a proposed plan requires a strategic action plan. With
regard to Tecno Company, the action plan should encompass defining the problem as well as
collecting important information about the company. As such, it will guide the management in
understanding what to clarify and prioritize. Tecno Company will identify a goal statement for
every problem and solution alongside the implementation plan. The plan will entail a monitoring
and evaluation process. The program will then be finalized by refining the old problem and
evaluating the situation. Moreover, conducting an in-depth business analysis will be of great help
for the organization to achieve its goals. The analysis should encompass financial analysis,
customer analysis, competitive analysis, trend analysis, industry analysis, and SWOT. Some
mobile phone companies are doing well, especially in African countries which possess enormous
competition to Tecno Company. An accurate financial analysis will play a critical role in solving
the potential financial problems that could be encountered. Clarification of the business’s
financial data and statements is critical for both internal and external stakeholders of Tecno
Company. This clarification will aid in explaining traffic and buying patterns of the customer
base as well as the demographics of the target countries Tecno Company will open new
branches. A better analysis of the macro-environmental factors in the mobile production industry
will help support new branches that will benefit from consistent growth with minimal challenges.
These factors include but are not limited to social, economic, legal, political, and environmental.
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Conclusion
To ascertain its success, Tecno Company needs to make great efforts to manage all
factors that would affect all established businesses operations. These developments would
involve analyzing all factors that impact the business performance. The company needs to
consistently track the macro-environmental factors, particularly demographics, technology,
economic, social, political, and legal factors. Therefore, the enterprise must account for all these
factors while conducting its operations. Moreover, it should assess factors that influence the
business profit and its percentage in the market. Also, the company should consider the power of
both the supplier and consumer, competition, availability of substitute products, and opportunity
for an additional demand. Collectively, all the factors are critical in determining business
success.
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