Global Business Plan

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Business Finance

Description

Prepare a 10- to 12-slide Microsoft® PowerPoint® presentation with speaker's notes using the same organization you selected in Week 2.

Create a business plan for this organization to enter a global market in which they are not already doing business (see section 2 of Table 8.1). Be sure to include the following:

  • Description of the Business
  • Description of the Industry
  • Technology Plan
  • Marketing Plan
  • Financial Plan
  • Production Plan
  • Organizational Plan
  • Operations Plan
  • Include at least 2 of the 7 recommended appendices (exhibits) as listed in Section 3 of Table 8.1

Format your presentation consistent with APA guidelines.

Following is the URL for table 8.1

https://phoenix.vitalsource.com/books/978148332266...

Attached is the previous assignment as a guide.

Unformatted Attachment Preview

Running head: ASPECTS OF DESIGN THINKING Aspects of Design Thinking 1 ASPECTS OF DESIGN THINKING 2 Introduction Design thinking can be thought of as the innovative tactics used by designers in the procedure of designing. This is also a technique used with the intention of considering issues and the methods to address the issues. It has been a popular undertaking in the professional design sector, as well as the commercial and social sectors. In the commercial sector, design thinking tends to utilize the techniques and responsiveness of the designers to align the needs of the customers with the elements that are practical technologically (Goldschmidt & Rodgers, 2013). It is also supposed to have the ability to be converted by a business strategy to become a market opportunity or a customer value. Key Elements of Design Thinking There exist five components of design thinking and they are responsible for a making a company decide to implement it. The first element is curiosity, which entails the aspect of having the need to enhance the current situation to become better. Therefore, innovation is usually encouraged since it is useful for the company. For the case of HP, it has been successful in design thinking since it has a lot of innovations among the workers. They constantly find better ways to deal with issues and improve the efficiency of the company. The other element is the exceptional problem solving, which makes the designers create systems that can be used by everyone due to their simplicity. HP has attempted to have most of its electronics easy to use so as to solve the challenges of the customers. Therefore, it is effective in implementing design thinking. The third element is empathy, which involves enocuraging the designers to have the perspective of the customers when designing. This has been the case for HP since its systems ASPECTS OF DESIGN THINKING 3 designer have always been considering the customers when designing its products. This has made most of its electronics being able to deal with the issues that face most of the customers. The fourth element is the diversity in perspectives, which encourages the sharing of ideas among individuals. This is an element that was considered in HP since workers collaborate effectively in their innovation activities to progress the performance of the firm. This has hence facilitated the creation of advanced electronics of the company. Finally, there is the element of making it really quickly which encourages the implementation of ideas in a quick manner (Prud'homme van Reine, 2017). This has been the reason for the constant advancements of the electronics of HP since the management have been implementing the inventive ideas of the workforce to enhance its products. Areas Where HP Excels In Design Thinking There are various areas where the organization has been successful in design thinking. Some of them comprise of achieving uniqueness for its products. For instance, the company was successful in developing exceptional products with the capacity to have iconic prestige. One of the products is the Spectre x360 convertible notebook. The products of the company are generally unique and with reasonable prices which increases their ability to compete with other products in the market. The company also has a golden ratio which is facilitated by its design thinking abilities. This is because it has implemented a policy that requires the company to create designs that are iconic, pleasant, and progressive. The company also has been successful in unifying most of the inventive ideas of its workforce. This is usually with the intention of enhancing the diversity of ideas. The opinions of the employees regarding innovation are usually considered since they could increase the effectiveness of the entire company. Its efforts of centralizing its budgets and processes, as well ASPECTS OF DESIGN THINKING 4 as moving the departments of the designers were effective in ensuring that design thinking is enhanced. This is because the company was able to unite the employees and affirm budgets that encouraged design thinking. This has been the reason for its numerous products which are innovative and efficient. The Improvements Needed In spite of HP having various areas of success due to design thinking, there are other elements that need some improvement. This would facilitate the increase of its profits due to popularity among the customers. Therefore the organization needs to improve the way it handles the ideas of the workers. Instead of just having a policy of implementing these ideas in a speedy way, the company should consider evaluating them and increasing their reliability. Evaluation of ideas would help in ensuring that the ones implemented have the capacity of increasing the profits of the company (Kleinsmann, Valkenburg, & Sluijs, 2017). This is through enticing more customers to buy its products. The employees should also be assisted on the way to invent new ideas. This is through training to become creative within the line of the business. The company should have programs that ensure that the workers are consistently presenting their ideas on the way products should be enhanced. These ideas should then be evaluated constantly to ensure that they are relevant to the company’s goals. Therefore, the company would be having numerous ideas with the potential to increase its efficiency and advancement of its technology. This would hence enhance its profitability since it would have products of high quality compared to the rest of the products offered by other companies. Its reputation would also be enhanced due to the advanced products hence developing a significant brand. This makes would then make the customers prefer its products over others that are offered by other electronic companies. ASPECTS OF DESIGN THINKING 5 Recommendations for HP In order to increase the level of innovation and design thinking in the company, there are some actions that have to be put into consideration. First of all, the company should develop policies that require the employees to be always creative. This would be essential in ensuring that it has various methods of dealing with issues and developing solutions to challenges. Challenges would hence reduce since they are addressed quickly and their recurrence is reduced. The company should also consider recruiting individuals with advanced knowledge in IT. This should be essential in ensuring that they develop the sense of curiosity since they would be having the urge to improve their concepts. This would, therefore, become beneficial to the entire company as improvement of ideas would facilitate the advancement of products. The other element that HP is supposed to consider is the arranging of technology seminars. These are sessions that the company could organize for its employees or ensure that its employees attend international seminars that focus on technology. These events would be beneficial to both the workers and the business as they would enhance awareness of technological advancements. This is because the employees have a likelihood of interacting with other professionals of technology and exchange ideas. Consultations would also be enhanced and this would broaden the scope of innovation among the staff (Koh, Chai, Wong, & Hong, 2015). Therefore, design thinking would as well be enhanced due to the level of exposure that the workers would have when they attend numerous international seminars. Conclusion Hence, design thinking tends to utilize the techniques and responsiveness of the designers to align the needs of the customers with the elements that are practical technologically. When ASPECTS OF DESIGN THINKING 6 considering all the elements of design thinking one is able to identify that HP has been effective in facilitating design thinking as well as inventiveness. One of the major elements that show that HP has succeeded in design making is the uniqueness it has of its products. The company should consider training its personnel on developing creative ideas in order to assure its design thinking for a long period. ASPECTS OF DESIGN THINKING 7 References Goldschmidt, G., & Rodgers, P. A. (2013). The design thinking approaches of three different groups of designers based on self-reports. Design Studies, 34(4), 454-471. Kleinsmann, M., Valkenburg, R., & Sluijs, J. (2017). Capturing the value of design thinking in different innovation practices. International Journal of Design, 11(2). Koh, J. H. L., Chai, C. S., Wong, B., & Hong, H. Y. (2015). Critical Perspectives on Design and Design Thinking. In Design Thinking for Education (pp. 17-31). Springer Singapore. Prud'homme van Reine, P. (2017). The culture of design thinking for innovation. Journal of Innovation Management, 5(2), 56-80.
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Explanation & Answer

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GLOBAL BUSINESS PLAN
BY YOUR NAME













AGENDA
Description of the Business
Description of the Industry
Technology Plan

Marketing Plan
Financial Plan
Production Plan
Organizational Plan
Operations Plan
Conclusion
Appendix 1
Appendix 2

DESCRIPTION OF THE BUSINESS


Hp manufactures, licenses, supports, improves, along with selling user electronics,
computer software, and private computers.



Provides better innovative opportunities, accessibility and improved value to the
people’s lives.



Mobile phones, printers, laptop, desktop computers, digital cameras, scanners are
included in the top product line of the organization.



It lies in the industry of Digital distribution, Customer electronics, Computer ...


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