Team Leadership
Team Leadership
John Haynes
MGT/521
August 27, 2013
TO: Robert Foster, Marketing Executive
FROM: John F. Haynes, Team Leader
DATE: August 25, 2013
SUBJECT: New Market Segment Strategic Plan
This memorandum outlines the team’s approach that supports the company’s overall strategic plan to enter a new market segment. Each team member will be assigned to work separate parts of the plan. I will carefully evaluate each member and match the assignments using the results from the personality assessments and individual leadership styles. This will ensure, in a sense that the right person is assigned to execute the tasks. Market expansion brings both opportunity and a considerable amount of risk. The talents of each team member will be leveraged to ensure that the organization’s goals are effectively and efficiently accomplished. “Investing the appropriate level of resources in market analysis, selection, and entry method can create a foundation for success in the chosen market (www.inc.com)."They suggest, and I concur with following five steps to assess properly the opportunities and risks of a new market:
• Define the Market
• Perform Market Analysis
• Assess Internal Capabilities
• Prioritize and Select Markets
• Develop Market Entry Options
Define the Market
To clearly define the market is not a simple step, and identifying who you want to sell your product to require a considerable amount of market research. It is extremely difficult to understand the customer’s needs without first conducting a good market research. Furthermore, it requires an individual that has the right skill sets, talent, and personality traits. Mrs. Min Jeong is that person, and will be tasked with leading a group of researchers to define the new market segment for the team. The research group can take comfort in knowing that Mrs. Jeong subscribes to the democratic style of leadership; therefore, she will not make recommendations or
John Haynes
MGT/521
August 27, 2013
TO: Robert Foster, Marketing Executive
FROM: John F. Haynes, Team Leader
DATE: August 25, 2013
SUBJECT: New Market Segment Strategic Plan
This memorandum outlines the team’s approach that supports the company’s overall strategic plan to enter a new market segment. Each team member will be assigned to work separate parts of the plan. I will carefully evaluate each member and match the assignments using the results from the personality assessments and individual leadership styles. This will ensure, in a sense that the right person is assigned to execute the tasks. Market expansion brings both opportunity and a considerable amount of risk. The talents of each team member will be leveraged to ensure that the organization’s goals are effectively and efficiently accomplished. “Investing the appropriate level of resources in market analysis, selection, and entry method can create a foundation for success in the chosen market (www.inc.com)."They suggest, and I concur with following five steps to assess properly the opportunities and risks of a new market:
• Define the Market
• Perform Market Analysis
• Assess Internal Capabilities
• Prioritize and Select Markets
• Develop Market Entry Options
Define the Market
To clearly define the market is not a simple step, and identifying who you want to sell your product to require a considerable amount of market research. It is extremely difficult to understand the customer’s needs without first conducting a good market research. Furthermore, it requires an individual that has the right skill sets, talent, and personality traits. Mrs. Min Jeong is that person, and will be tasked with leading a group of researchers to define the new market segment for the team. The research group can take comfort in knowing that Mrs. Jeong subscribes to the democratic style of leadership; therefore, she will not make recommendations or