XYZ, Inc., International Store Opening and Change Model Used
Around the world, retail business has been in demand for quite some time. Therefore, expansions and changes due to technology are developed daily to help innovate and maintain the competition worldwide. These changes help prepare the retail business to be successful, to operate smoothly, effectively and efficiently. This paper will tell how being an executive of XYZ, Inc., a high-end retail chain that sells luxury watches, jewelry, and hand bags, enable me to make short term, small scale changes in Shanghai our first international store; then later into a long term, large scale change within the organization by having additional stores in Brazil, Russia, India, and China (also known as the B.R.I.C. countries). I will also discuss the change model used during these short and long term changes and the effect it will have on the organization.
XYZ Incorporated is a high-end retail chain that sells luxury watches, jewelry, and hand bags based in San Francisco, California. Having been in business a little over 20 years with a store in each state, they have seemed to be doing exceptionally well in their line of business due to having high demands of their goods in which they cater to customers such as movie stars, song artists/writers, producers or one could say, mostly to the rich and famous people. Their pieces are one of a kind, very articulate, and different, so one will never buy the same thing. Throughout the fifty states, XYZ Inc., is staffed with over 200 employees whose main goal, vision and mission statement to be “clients first”. Pleasing a client can be difficult if they are looking for a certain style, color or material of that product, but XYZ has always comes out on top for a highly recommended customer service recognition. Currently they are at #2 in Forbes 500 magazine, trailing behind Zappos to be #1, someday. With the fluctuating market, XYZ remain to have a high increase in revenue to sustain compatibility and to remain competitive to be profitable in this economy, to now seeking other innovations internationally. It was decided by the CEO, who is also the owner of the stores to seek other development to make the corporation an international entity. First, they will have a small scale store opened in Shanghai, China, then depending of the productivity and profitability of this store, other stores will later open in Brazil, Russia, India, and China which are also known as the B.R.I.C countries.
Since I am hired to be the executive leader for this project, I will have to put on my thinking cap (brainstorm) to ensure that I have the right people to help me make this transition a success and smooth process. Therefore, I will make my team to involve experts. These experts range from marketing, accounting, human resources, advertising, production, and informational technology (IT) fields. This choice is made to take into consideration the many factors regarding business etiquette and factors needed for international business expansion. When dealing with an international country, one must research on their cultural ethnicity, political climate that may hinder productivity and profitability, the language spoken to avoid conflict and to attract the right customers, suppliers and potential clients. Having the team to take classes of their language and hiring translators will make a difference to show commitment and easier for us to communicate to them. Discussing the plan, policies, procedures, mission statement, and code of conduct/ethics will ensure a business setting and readiness to take on the challenge.
Small scale organizations are found within less developed countries and the ones that are most traditional get superseded by large scale productions in the long run. By expanding XYZ Inc., in Shanghai, China, it will create jobs and improve residential compatibility within that area as a small scale change, but deemed to have...
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