MBA 670 University of Marylan

Just need help with Project 2 Step 8 (Project Management Plan, Subtask: Stakeholder Management Plan) however the entire project is posted below just for reference. Question #8 in the Project Management Template ONLY


Project 2: Project Management in an International Environment
Step 1: Become Familiar with Project Scope

A few hours after your call with Latoya Green, you receive an email from her executive assistant that defines the high-level deliverables and timelines for this project in a project statement of work (SOW).

INBOX: 1 New Message

Subject: Deliverables and Timeline for Store Opening

From: Cassandra Seltzer, Executive Assistant, TCS, Inc.

To: You

Greetings,

You will need to know the high-level deliverables and timelines for this project, which can be found in the project statement of work (SOW).

The SOW for this project lists the following requirements:

  • design the new store building, garage, parking lots, and landscaping
  • obtain required licenses and permits
  • prepare the site and lay the foundation
  • construct the new store building and finish the interior
  • construct the garage and garden center
  • outfit the store with shelves, fixtures, and IT systems (e.g., communications and payment systems)
  • pave the parking lots and landscape the exterior of the store
  • stock the store with inventory (For this project, stick to a storewide, high-level inventory budget, though you may have to make estimates based on different product categories, such as lumber, hardware, appliances, etc.)
  • staff, hire, and train store personnel

The SOW specifically notes that your project scope does not include the following:

  • marketing or publicity
  • other actions and costs related to operation of the new store

This project will require that you and your team create the following deliverables within the time frames described in this project, using standard templates provided in subsequent steps by TCS management. These steps will ensure that the new store is fully operational by the target date. Those deliverables, described in detail later, include the following:

  • a project charter
  • a stakeholder management plan
  • a high-level work breakdown structure (WBS) for the project
  • a risk register that identifies 5–10 key project risks and the team’s proposed responses for handling such risks
  • a Gantt chart showing key project activities and the project’s critical path
  • a high-level project cost estimate, with supporting justifications, for the labor, materials, and overhead for the new facility to be ready for operation by the assigned target date
  • a project management plan

Thank you for your attention. Our group will be in touch.

Cassandra Seltzer

Email signature with Terrapin Construction Supply, Inc corporate logo, Cassandra Selzer, Executive Assistant, and contact info

From your client file on Terrapin Construction Supply, Inc., you are informed that there are five major product groups at each TCS store: plumbing and electrical supplies; building materials; hardware and tools; seasonal, garden, and yard items; and paint, flooring, and wall coverings.

Each TCS store has a store manager, assistant store manager, bookkeeper, information systems manager, a manager for each of the five major product groups, customer service employees to assist with purchases on the store floor, cashiers, receiving and stocking employees, and maintenance and janitorial employees.

In summary, you know a lot about what you need to have 10 months from now, but how will you get there? You do not have much experience with formal project management so you message a colleague who recently acquired a project management professional (PMP) certification.

In the next step, your friend delivers the requested help, outlining several key project management topics.

Project 2: Project Management in an International Environment
Step 2: Become Familiar with Project Management Concepts

In the previous step, you received a SOW and the authorized templates from the CEO’s office. You also put out an SOS to a friend, who emails you the next day.

INBOX: 1 New Message

Subject: Re: Help!

From: Jorge Linville

To: You

Got your message, good to hear from you and glad to hear you’re still with Maryland Creative Solutions.

Sounds like a big project you’ve been tasked with. I’m happy to help out where I can.

To begin, I’d suggest doing some background reading to familiarize yourself with a few key topics. I’ll help get you get started:

Those are the basics, at least. Hope this helps, and good luck!

Jorge

Email signature of Jorge Linville, Project Manager, and contact info

After you have reviewed these project management resources, proceed to the next step, where you will develop a project charter.

Project 2: Project Management in an International Environment
Step 3: Develop a Project Charter

Very glad that you reached out for Jorge’s insight and resources, you proceed with the formal requirements listed in the project statement of work.

Your team has established guidelines for communication and accountability on this project. Now, your team will need to develop a project charter using the provided project charter template. While this document will not be turned in until the end of Week 4, it will guide your development of the project management plan. Note that TCS CEO Latoya Green is your project sponsor and the key stakeholder who must approve and sign the project charter.

When you have completed your project charter, continue to the next step, where you will develop a stakeholder management plan.

Project 2: Project Management in an International Environment
Step 4: Develop a Stakeholder Management Plan

Following your team project charter, you are invited to a check-in web meeting with MCS CEO Jillian Best to discuss next steps with the TCS project:

Calendar Invite: Jillian Best, CEO

“I’m glad your team has agreed on a charter for TCS,” Jillian says. “Now I want you to really start nailing down some of the specifics of this project, such as involved parties, responsibilities, risks, and costs.

“To this point, TCS management has provided you with information and templates for this project, your team has set guidelines to work together effectively, and you have used that information to develop a project charter for Latoya Green to approve. Now, you are ready to begin thinking about stakeholders and stakeholder management.

“Your team needs to develop a stakeholder management plan. I’m attaching a stakeholder management plan template to follow. The plan should identify potential stakeholders by their general role, such as CFO, local government offical, vice president of marketing, etc. There is one exception: You must name Latoya Green as your project sponsor.

“Good work team, looking forward to seeing the stakeholder management plan.”

When you have completed your stakeholder management plan, continue to the next step, where you will develop a work breakdown structure and Gantt chart.

Project 2: Project Management in an International Environment
Step 5: Create the Work Breakdown Structure and Gantt Chart

In previous steps, you identified all stakeholders, both internal and external to your team, and created a communication plan to manage their expectations. Now your team must consider how you will handle the work breakdown structure (WBS) and Gantt charts.

Create a draft of the work breakdown structure based on the provided WBS template. Then, using Microsoft Project, create a high-level WBS for your project that covers the key facets set out in the statement of work, such as the design of the new store. All required dependencies for activities should be established. That work will be used to create your Gantt chart with the project schedule. Ensure that your Gantt chart indicates the critical path in red. If you need help, please follow these Microsoft Project guidelines.

For feedback from your instructor, submit your project charter, stakeholder management plan, WBS, and Gantt chart to your team’s group discussion area only. Then continue to the next step, where your team will develop a project risk register for this store construction project.

Project 2: Project Management in an International Environment
Step 6: Create the Risk Register

Risk is a factor in every project. Each stakeholder and each element in your work breakdown structure, especially along the critical path, introduces risk. Identifying and managing these risks is critical to ensuring project success. Read more in Project Risk and Risk Register.

In this step, your team will develop a project risk register using the provided risk register template. The risk register must include at least 10 project risks, both internal and external, as well as the projected response or responses to those risks. Keep in mind that you are conducting a project in a foreign country, Brazil, which itself will add some risk because the official language in Sao Paulo, Brazil is Portugese.

When you have completed your risk register and identified at least 10 project risks, continue to the next step, where you will develop a project cost estimate.

Project 2: Project Management in an International Environment
Step 7: Estimate Project Cost

Your team has already identified the details of the work schedule in a work breakdown structure and visualized these details in a Gantt chart with a critical path. You also used your stakeholder management plan to determine who needs to be informed of progress on the project and when. And you’ve planned out responses to the risks you identified. Now, you must determine the cost to build and operate this store. You must also estimate the costs of the required inventory inside the store and the hiring and training of employees to begin operations. Read Project Cost Estimating and Project Procurement for help in answering this question.

For this project, your team only needs to research and provide high-level budget estimates for the various work packages or the higher-level work activities. For example, building the store itself might be broken down into design, site preparation (your company already owns the land), permit costs, plumbing, electrical, etc. Or, you may prefer to just use major categories such as design, build, and outfit. Consider other project procurements that may be required for your project. Develop your own project cost estimate template. While your research will yield material, labor, and overhead cost data in Brazilian real (BRL), for the purpose of this assignment, you will convert all cost figures to US dollars (USD).

When you have completed the project cost estimate, continue to the next step, where you will complete your project management plan.

Project 2: Project Management in an International Environment
Step 8: Complete the Project Management Plan

Before any work can start on the new TCS store in Sao Paulo, Brazil your team must put all the work you’ve done so far into a project management plan.

Use the project management plan template to create your plan. Your plan should be 15 to 20 pages, double spaced, excluding cover page, executive summary, reference list, and appendices. Any tables, graphs, and figures should be included as appendices. Your report should have one-inch margins and be double spaced in 12-point Times New Roman font. In-text citations and references should abide by APA format. The report should be organized using headings and subheadings to improve its readability.

For clarity, the plan should cover key elements in the main body of the plan, and then use appendices for detailed data. For example, you could provide a summary cost breakdown in the main body, and the detailed breakdown of costs in an appendix, such as an Excel spreadsheet.

Your final project management plan will consist of two files: the completed template and the Microsoft Project file (*.mpp) containing your WBS and Gantt chart. Submit these files in the dropbox located in the final step of this project by the end of Week 4. Also, each team will post one copy of the final project management plan in the team’s group discussion area.

MBA 670 University of Marylan

I’m working on a business discussion question and need guidance to help me learn.

Hi there! I only need responses to my classmates answers to the 2 discussion topics right below about 1-2 paragraphs per topic, each with their own sources cited if used. However, everything else posted is just for reference and context.

Discussion Topic 1: What are the factors that influence an organization’s choice of entry mode in a country? Discuss how the chosen mode fits with an organization’s goals and objectives.

-Answer 1:There are many factors that influence companies to enter a foreign market. Some of these factors include the growth rates of the foreign markets compared to the domestic market, increasing overall market share, tax benefits, competitive pressure, saturated domestic markets, excessive capacity, closer proximity to foreign consumers and to be considered local to those in foreign markets (Zegiri & Angelova 2011).

Companies have choices when it comes to taking their business into a new country. Each entry mode comes with its own set of advantages and disadvantages. Exporting is one of the most common forms of entry. Exporting can be defined as the marketing and direct sale of goods produced in one country and sold in another. An advantage of this method is that it does not require an investment in the foreign country to produce the goods. Other advantages are quick entry into the foreign market with little risk. Disadvantages include substantial costs with limited control of the marketing and distribution of the products. Organizations can also be hit with high tariffs, distributor services and high transportation fees. Exporting also limits a company’s ability to customize their products or services to the local preferences (Stegman, 2021).

A licensing arrangement is when a licensee pays a fee in exchange for the rights to use the intangible properties of another. This type of agreement allows the licensee to use the Patents, trademarks, or copyright designs of another company by paying that company fees. Advantages to both companies include low initial investments, avoidance of trade barriers, utilization of local economies, access to local data and/or resources and overall improved access to the local markets. Some of the disadvantages to licensing to the licensor is a lack of control over operations, and difficulties with the transferring of tacit knowledge (Zegiri & Angelova 2011). Franchising is similar to licensing with the payment of royalty fees, the franchisee will receive the know-how of the business and operate it in an independent fashion. The franchise fees typically cover the intangible properties such as the patents and trademarks and the franchisee will be required to follow the rules set forth by the franchiser (Zegiri & Angelova 2011).

A Joint venture is an agreement between two parties to work together on a project, this can include operating in a particular market. The two entities will share the risk and reward and maintain control of the product and/or services. Concerns with this type of agreement include potential conflicts with the two parties and neither party has full control (Zegiri & Angelova 2011).

Foreign Direct Investment (FDI) is the direct ownership of facilities in the foreign country. This entry mode involves capital, technology, and personnel. The FDI can be done though an acquisition or by establishing a new enterprise. Advantages to the FDI include control of the operations and the ability to have direct access to the consumers. The main disadvantage is the high level of resources required to establish the new business. An acquisition is the action of a company purchasing the whole or part of another company. This is advantageous due to the previous establishment of the business in the foreign market. The acquired company will have local knowledge and the established customer base, and the acquiring company remains in control of their product and/or services. A concern for the parent company would be difficulty in absorbing the assets of the company and uncertainty about its overall value (Zegiri & Angelova 2011). Green field entry is defined as a form of foreign direct investment where the parent company starts a new venture in a foreign country by constructing new a facility from the ground up. This allows the parent company to maintain control of their goods and/or services. This mode requires knowledge of foreign management (Zegiri & Angelova 2011).

References:

Zegiri, J. & Angelova, B. (2011). Factors that Influence Entry Mode Choice in Foreign Markets. European Journal of Social Sciences. https://www.researchgate.net/publication/266284373_Factors_that_Influence_Entry_Mode_Choice_in_Foreign_Markets

Stegman, J. (2021) MBA 670 Strategic Decision Making. Project 4: Stimulation as a Tool for Strategic Decision Making – Part 2. UMGC. https://learn.umgc.edu/content/enforced/546663-027…

Discussion Topic 2: What are the country factors that influence an organization’s decision to enter that country? What is the impact of the culture and geography on the organization’s value-chain activities being relocated to the country?

-Answer 2: There are several factors an organization must consider before entering a new market. Companies should consider all factors before deciding to enter a new market because not all markets are equally attractive and offer the same benefits. The first factor that company should consider is the economic factor Economic factors pertain to the affordability of a product and the country’s standard of living (Chand, n.d.). It is possible that a country cannot afford the products that the company is looking to bring to this market. In order to access a potential new markets economic factors, the company should take a deep dive into the data about the people who can afford to buy its products (Chand, n.d.). Social and cultural factors will also influence a company’s decision to enter a new market. These factors deal with the differences in languages and customs (Chand, n.d.). Most countries differ in the ways they communicate, practice religion, and even consume food and these differences should all be taken into consideration by marketers when looking into a new market. Companies may find more success if they enter a new market that closely aligns with their current markets. But even this will not guarantee success and companies should remain vigilant to any cultural differences. Political and legal factors are strong influences in an organizations decision to enter a new market. These factors pertain to the attitude of the government (Chand, n.d.). It will be important to understand the general attitude of the government as well as its historical record and its attitude towards foreign investments (Chand, n.d.). An understanding of the potential host country’s tax structure and legal systems will be necessary before deciding to enter that market. Market attractiveness will also be a contributing factor in this decision. This factor is essentially a country’s market potential. This can be assessed by looking into the revenue that can be generated, access to the market, and potential competition (Chand, n.d.). The last factor to consider is the capability of the company. An organization should not move into a new market if they are not prepared to. The company should perform an audit on their own organization to ensure they have the correct resources and capabilities (Chand, n.d.).

Both, culture and geography can become barriers to an effective value chain. A company could be setting themselves up for disaster if they were to enter a new market without fully understanding the culture and traditions of its host country. Entering a new market would also force a company to make changes to its value chain to be able to deliver more value to the customers.

References

Chand, S. (n.d.). 5 factors you must consider while your company is entering to a new market. Yourarticlelibrary.com https://www.yourarticlelibrary.com/business/5-fact…

Project 4: Simulation as a Tool for Strategic Decision Making—Part 2
Step 1: Discuss Entry Strategy

DISCUSSION

As you prepare to choose a new strategy—a global strategy—to direct your client’s business decisions, it will be useful to think critically about international strategies, modes of entry, and globalizing the management model.

Before you and your teammates settle on a strategy, Jillian Best has asked you to meet and discuss the various factors that influence an entry strategy.

Based on your reading, research, and analysis, respond to the two discussion questions below:

Discussion Topic 1: What are the factors that influence an organization’s choice of entry mode in a country? Discuss how the chosen mode fits with an organization’s goals and objectives.

Discussion Topic 2: What are the country factors that influence an organization’s decision to enter that country? What is the impact of the culture and geography on the organization’s value-chain activities being relocated to the country?

Review the MBA Discussion Guidelines for instructions on participation in discussions. Also, abide by the following guidelines:

  • The titles of your main postings should indicate the discussion topic number (e.g., #1, #2).
  • Respond to a minimum of two postings from your classmates before the end of Week 7.
  • In your discussions, cite examples when you describe theories from your reading and research. You may use examples from your organization or industry, current or recent newsmakers, or other reliable sources.

After the discussion, proceed to the next step, where your team will select a global strategy to guide your business recommendations for your client.

All tutors provide: high quality help, quick responsive communication, original explanations and answers with any outside resources cited.

globalizing_the_management_model.pdf

modes_of_entry.pdf

types_of_international_strategies.pdf

international_strategy.pdf

MBA 670 University of Marylan

Need 2-3 paragraphs in reply to these each Response listed below along with sources. The original questions are posted for reference.

Discussion Topic 1:

  • What industry sectors tend to be better performers? Why?
  • How may Covid-19 lead to growth in certain sectors and decline of other sectors that will have to ‘re-invent’ themselves to make them competitive? You may pick a sector from healthcare, education, retail, hospitality, manufacture, IT, or transport.

Response 1:

Different key sectors drive the US economy. They include manufacturing, transport, information and technology, retail, education, health, and hospitality. Some of them tend to perform better than others. Some performed better in the short term, compared to the long term. Utilities and energy industries tend to perform better in the middle to long term (UMGC, 2021). The prevailing economic conditions influence their output. For instance, the industrial sector responds to the state of the global economy and fluctuations in the business cycle. As a result, developments such as improvement in trade relations between the US and China would improve its performance

Of the seven industries listed above, the health sector has continued to perform better than others. In the past decades, it has recorded high growth rates even when other sectors performed poorly. Between 2006 and 2017, for instance, it created 2.8 million jobs (Martiniano, Chorost, & Moore, 2018). The health sector grew by 20% within that decade and helped the country recover from the 2007-2008 financial crisis. The rest of the sectors grew by an average of 3% within that period. The better performance of the health sector compared to other industries is driven by the growing population in the country and the development of cutting-edge biotechnology. Irrespective of the prevailing economic conditions, citizens are forced to see a physician or buy prescribed medicine when they fall sick.

Some sectors can grow as others fail to achieve good performance as a result of economic changes. The COVID-19 pandemic, for instance, led to unprecedented growth in the online retail sector. As lockdowns were imposed, the majority of businesses and consumers shifted to online selling platforms. On the other hand, the performance of the transport and hospitality sectors declined as fewer people traveled. Players in these sectors must reinvent themselves to become competitive again. For instance, they must put in place the necessary safety measures to protect customers from the COVID-19 virus.

Martiniano, R., Chorost, S., & Moore, J. (2018). Health care employment projections, 2014-2024: An analysis of Bureau of Labor Statistics Projections by setting and by occupation. March 2012. Center for Health Workforce Studies.

UMGC. (n.d.). Industry Structure Learning Content. https://leocontent.umgc.edu/content/umuc/tgs/mba/m…

Discussion Topic 2:

  • Select any company from the Standard & Poor’s 500. Select one or more activities in the company’s value chain that would be candidates for relocation to another country.
  • Provide a brief justification and examine the challenges you see in coordinating the global value chain after the proposed value-chain activities of your chosen company are set up in the new country.
  • Response 2:
  • Apple Inc. is the highest rated company on the S&P 500 with an Index Weight of 5.9%, nearly 10% higher than Microsoft Corporation in second (Alpert, 2021). In order to become a top company on this list you must have a highly efficient value chain. Apple has been known for years for their innovative products and their advanced research and development that has led them to the top of the industry. Apple’s main products include their phones, tablets and laptop computers, each with a multitude of diverse components from all over the world. Apple adds value to their supply with advanced sourcing and manufacturing using external contactors to produce their products. According to John Dudovskiy of Business Research Methodology, “Apple does not own any manufacturing facilities and prefers to outsource manufacturing of its hardware to other companies in developing countries, notably China” (Dudovskiy, 2021). This strategy has advantages and disadvantages for its value chain. A lot of the components required for these products are cheaply produced from companies in Asia, specifically China, making them much more readily accessible for the manufacturers. These countries also have much leaner manufacturing laws than say the United States; however, as an American company, this creates issues for Apple due to laboring image.According to Statista, Apple’s revenue in the 1st quarter of 2021 was dominated by the Americas, accounting for over 41% of their total revenue (Statista, 2021). In fact, the Americas have dominated Apple’s revenue since 2012, yet manufacturing occurs in a country outside the Americas. Relocation of manufacturing could occur in the Americas to decrease cost in shipping and storage, adding value to their value chain. The problem with this idea, is that labor laws and pay scales are much different in the United States, for example, than they are China or other Asian countries. This could increase cost of manufacturing; however, savings in shipping and storage could be significant since the majority of their customer base is in the Americas. As an advanced company, it is likely that Apple has considered this transition in the past, but it could provide benefit.Another source of value to be considered is marketing and branding efforts. As was stated, the majority of revenue for Apple comes from the Americas; however, the amount of revenue from the Greater China and Europe is increasing significantly (Statista, 2021). If additional efforts are put towards marketing and branding in these areas, there could be a massive opportunity to capture for them. This can also be extremely valuable if the manufacturing centers remain in China as the earlier point stated. “Moreover, a greater level of market penetration into Asia in general and China in particular can be specified as an additional source of value for Apple Inc. from outbound logistics point of view. This is because selling in this particular geographical market would not involve massive outbound logistics expenses and this cost advantage can be passed to customers to increase the overall appeal of offers” (Dudovskiy, 2021).
  • Alpert, Gabe. (2021, May 8). Top 10 S&P 500 Stocks by Index Weight. https://www.investopedia.com/top-10-s-and-p-500-st…Dudovskiy, John. (2021, February 23).
  • Apple Value Chain Analysis. https://research-methodology.net/apple-value-chain…
  • Statista. (2021). Revenue of Apple by geographical region from the first quarter of 2021 to 1st quarter of 2021. Retrieved on May 13th from https://www.statista.com/statistics/382175/quarter…
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