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Future Growth Paper

Essay by   •  January 20, 2012  •  Essay  •  991 Words (4 Pages)  •  1,645 Views

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Future Growth Paper

The following paper will include the marketing strategy for future growth for a sporting goods and apparel business that is going global. Sporting goods and apparel are needed and used worldwide. The sporting goods and apparel store has the potential to be a very lucrative business. Included in this paper will be the assessment of optional strategies to use when the business goes global. Another thing that will be discussed is the strategies that will be used to build a management team to ensure the growth of the sporting goods and apparel business. The last thing that will be discussed is the possible challenges faced when managing a growing business and possible strategies to overcome the challenges.

Assess Optional Strategies to Use When Going Global.

There are several strategies that you may use for a sporting goods and apparel business that is going global that include product manufacturing, marketing, economics, and supply chain. A global business casts a wider net than a domestic company. Considering product manufacturing, domestic companies are bound by wage and safety laws for their employees whereas the global market can tap into cheaper labor markets. Marketing strategies have some similarity as well as differences. Tapping into local demographics is important in both domestic and global business. A sporting goods and apparel business must modify the product to the cultural preference of the different countries. Global businesses must adapt to the economic conditions of the foreign countries. Hans Jansson, author of the book, "International Business Strategy in Emerging Markets," explains that multinational corporations must develop a relationship with the government in foreign countries as a means of obtaining permits and getting through bureaucratic procedures. Domestic businesses can usually circumvent forging this type of relationship. Different distribution tactics are used in domestic and global businesses. Distribution is simpler when doing business in just one country. Global companies are at greater risk because the sporting goods and apparel store have to rely on the reliability of foreign infrastructure and foreign contractors.

Strategies to Use to Build a Management Team for Business Growth

There are three strategies that can be used to build a management team to ensure the sporting goods and apparel growth, developmental, transformational and servant leadership. A developmental leader is a strategy that can be used to build a management team to ensure the sporting goods and apparel's growth. Developmental leadership is comprised of three components:

1. Sharing leadership by dealing with real issues and problem solving.

2. Continuously developing team members' individual skills.

3. Developing a cohesive common vision (eHow Leadership & Team Building Strategies).

A transformational leader changes followers into leaders by instilling pride and respect. Transformational leaders develop individuals and present ideas to make people to think in new ways. Transformational leaders provide intellectual

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