How the company’s culture could affect the market entry strategy
The innovative culture of the company, together with appreciation for creative ideas by employees, will have a good influence on the market entry. Employees have the motivation to provide better creative solutions to help better foldable boats. Product enhancement through collaboration between employees and managers is important to ensure everyone’s potential is maximized (Schellenberg et al., 2018). Input from experts in other industries also greatly impacts ensuring that tire product is produced, hence easy infiltration into the market.
Is organizational structure an advantage or disadvantage to the company?
This fishing boat manufacturer’s organizational structure of innovation and collaboration is an advantage to the company. There is assured infiltration into the Indian fishing industry by developing and enhancing a unique, sustainable, foldable, non-mechanized boat. Constant feedback and collaboration of employees and managers will help generate innovative concepts that will improve the industry’s product line.
Decision-making factors
The manufacturer’s organizational structure allows its employees to be a part of the company’s decisions. This creates a synergetic work environment encouraging the team to invest more in the company and its products. It is harder to be successful with new ideas if there is no room for growth or if you are in a culture that suppresses freedom of thought and action for new ideas. The company’s mission and vision statements emphasize ensuring a good consumer experience; this has played a role in deciding to produce environmentally friendly foldable boats that are comfortable for consumers of all ages. The company’s culture of innovation will play a significant role in decision-making in ensuring quality top tire production. Combined with the fact that this company does not have a hierarchy and values and considers feedback from all employees, their advantage of multiple voices drives innovation from all areas.
Specific characteristics of the emerging market that affect the company’s product
India favors manually operated foldable boats, and the National Fisheries Development Board (NFDB) wants to minimize interference with the fishing ecosystem (Department of Fisheries, 2019). As a result, the manufacturer will need to use Indian plastics to produce their product, reducing overall waste. To stay informed about the problems and issues in the new market area and to concentrate on innovative solutions to maintain their market share, they will need to have ongoing discussions with the neighborhood and the board. This fishing boat manufacturer’s organizational structure enables daily operations and decisions to be carried out without excessive leader oversight.
How a product design change would meet the emerging market characteristics
It will be necessary for this boat company to redesign the boat to ensure a sustainable product. Making the boat waterproof and more comfortable for the different fishermen who will be using it will provide customer satisfaction. The use of Indian plastics for manufacturing the boats will also require a change in the boat design. Altering a product’s design to suit the needs of a growing market better would ensure that the product complies with the NFDB’s standards. If this were to happen, the company that makes fishing boats would have to spend a lot of money to set up shop in India. The need to hire Indian labour is another way that the redesign will impact the business and may lead to a shift in the company’s culture as a whole. In addition, it will use India’s plastic to produce a foldable boat, a project that will necessitate an entirely new design. Lots of testing will need to be done to ensure the new ship meets the expectations of the company’s clientele.
Stages of the design thinking process
The design thinking procedure entails six steps. The first step is to learn about your audience using various data collection techniques like interviews or focus groups. After the data has been collected and defined, the next step is to develop ideas suitable for a foldable, portable boat in origami style that has no detrimental environmental effects on Indian fishermen. The American boat manufacturer will identify the issues about the boat by involving fishermen who will be exchanging ideas and soliciting feedback before development. Groups of engineers should discuss ideas and find solutions for the boat’s foldability, comfort, and portability and how it will keep out water with an environmentally friendly waterproof coating. The group will then use the information and ideas to create a prototype, and 3D printed models will be used to create sample versions of foldable boat models for the testing phase and will adhere to the prototypes’ design. To make any necessary improvements, the company should assess the testing results. In the last step, the business will market the new product and start large-scale production to bring the vision to the consumer and keep an eye on customer review feedback (Schellenberg et al., 2018).
Aspects
In this company’s culture, employees can influence the choices made during the design thinking ideation phase. Employees are encouraged to invest in the best solutions for their customers by fostering a collaborative work environment. This organizational structure fosters innovation through the fearless development of fresh concepts and producing a prototype that most closely matches the problems this organization aims to address. The emerging market ethics require the fishing boat manufacturer to base its choices on what is most environmentally friendly and sustainable for its customers. By upholding its moral standards, this company will produce a good product that people will appreciate and want for their community.
The company’s ethical statement
The ethical company’s statement focuses on ensuring that all decisions are suitable for customers and the environment giving them an advantage in market entry. As the Indian market requires, the moral standards this business upholds will assist in developing a product that satisfies the market’s demands for sustainability and environmental friendliness (Schellenberg et al., 2018).
References
Department of Fisheries. (2019). Handbook on fisheries statistics. Government of India. Web.
Schellenberg, M., Harker, M. J., & Jafari, A. (2018). International Market Entry Mode–A Systematic Literature Review.Journal of Strategic Marketing, 26(7), 601-627. Web.