Evaluate the impact of globalization on the value chain by applying elements fro

Question

Evaluate the impact of globalization on the value chain by applying elements from the Contemporary Value Chain model and additional decision-making factors. Apply the 21 elements [budgeting, competitive advantage, corporate social responsibility, culture, customer need, external resources, financial, goals, idea generation, information management, infrastructure, leadership, people – human resources, people – customers, people – shareholders, political (external), political (internal), product development, strategy, supply chain management, technological considerations] taken from both the Contemporary Value Chain model and additional decision-making factors, to evaluate the impact of globalization on a value chain. All elements are related to the ultimate goal to earn customer value (includes customer delight and profitability). Within each element, describe what decisions may need to be made, for what reason, by whom, for what reason and how the elements are interrelated.

Explanation / Answer

Evaluate the impact of globalization on the value chain by applying elements from the Contemporary Value Chain model and additional decision-making factors. Apply the 21 elements [budgeting, competitive advantage, corporate social responsibility, culture, customer need, external resources, financial, goals, idea generation, information management, infrastructure, leadership, people – human resources, people – customers, people – shareholders, political (external), political (internal), product development, strategy, supply chain management, technological considerations] taken from both the Contemporary Value Chain model and additional decision-making factors, to evaluate the impact of globalization on a value chain. All elements are related to the ultimate goal to earn customer value (includes customer delight and profitability). Within each element, describe what decisions may need to be made, for what reason, by whom, for what reason and how the elements are interrelated.

Budgeting: all business size small, medium or big need a budget. That is one the most important aspects from the Management perspective. Not only has the finance person needed to consider the budget, this aspect is considered by everybody, Marketing, Operations, Human Resources, Accounting, etc. The companies needs to know how much money will invest and according to that number the decision will be handled: is the revenue according to that?, are the resources capable to gain that? For how long is project? Is this new in the market and that is the reason of that investment amount?

Competitive advantage: what is the company doing to create a separate concept in the mind of the clients that is different than the competition? This is good, it makes competitive at the end of the day, is makes us to develop a proactive mind, not accommodated mind, always thinking what can I do to develop new ideas or improve the existing? With price, customer service, new technology, new schedules? What are the best options?

Corporate social responsibility: this is a very important factor. The entire world is talking about social responsibility, but is this real? Are the companies making a real effort on that? Is the entire company involved on it or just a small group? What is the communication strategy used or plan to be used for this purpose? Can it be improved? It is designed and managed by experts on this field and support by upper management?

Culture: human kind is so rich in culture. Has the company established strong rules and politics to defend and respect culture variety among the company? Even if the company is small, all the employees are different, everybody has different views of politics, religion, values. If the company wants to be respected then it needs to respect its employees.

Customer need: what is the customer trying to reach from the company? Is satisfied? Is the company delivering exactly what the customer asked or are we trying to accommodate the client to what I can deliver? What if the competitor is aware of this and try to capture my clients? What is the method I am currently using to hear the voice of my clients and my employees? Is the company making enough money to believe that everything is fine I don’t need to do anything else to hear from the client?

External resources: the company is expert on what it does, it will need help in things that are required but not part of the main core of the business, such as, transportation for the employees after the last night shift ends, maintenance of the equipment used, IT services, etc.

Financial goals: very sensitive aspect. Nobody is creating a business with the intention of losing money. Financial methods will take care of all the related aspects of the financial resources applied in the company, from the expenses on paper used to print the memos to the profit and loss analysis. All business have financial goals for 5 years, 3 years, 1 year, 1 semester, 1 month, 1 week. Everybody position in the company is able to expand or reduce the margin. Is that position adding value to the financial goals?

Idea generation: the entire company can suggest, at least 1 idea per day on how to improve process, improve the quality of the products and services, save money by reducing the expenses, make the clients happier.

Information management: from making a good use of the information big things are possible. Using technology you can discover what the behavior of your clients is, what they like, when they buy, how much money do they expend in similar products to yours, what is the high season for your products, the reasons of that.

Infrastructure: is the company big enough to the business? Or maybe is it big enough and I am wasting space?

Leadership: what is the satisfaction level of the employees? Are they leaving the company very quick? Why? Payment is not good? There are no leaders just managers?

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