Individual Project Unit: Cultural Considerations

What is your benchmark?

In my deep interrogation on benchmarking, I stab to counter check along the three common types of benchmarking that will help me realize the targets of the company without necessarily having negative implications on the business revenues. In addition I will have to look into the performance metrics of the organization as I try to compare them with the existing metrics that will provide some relevant information that will assist in identifying the areas in the organization where more efforts needs to be applied so that we can realize general improvement. Then finally I will have some strategic plans to see where there is a need to do better than before in order to raise the level of performance. Therefore my benchmark company that I will choose is KOKUYO Furniture with its operations in China and in different countries including Japan, of which its majority customers coming from local market in china and Japan. In spite of the company having its outlets in other countries, it has managed to build a value chain that handles the demands of its domestic customers.

Did it benefit or hinder the benchmark’s domestic market share? How?

Yes it did benefit the benchmarks domestic share. This is because KOKUYO has maintained its good relations and has opened a showroom in the people’s arena area located in china which has greatly enhanced training and a defined exhibition area that enables the locals to access and have an experience of first hand furniture products.

Did this benefit or hinder the benchmark’s domestic market share? Explain.

Yes it did benefit the benchmark’s domestic market share, even with the tough competition from the companies that deal with furniture products like KUKA and IKEA, the company maintained its quality production and remained focused in its expansions and the opening of different showrooms across china which helps it in improving and expanding its market share. So that to this to be achievable the original benchmarking ideas must be prioritized as the main source of improvement though it might take some time to take place.

Were there risks associated with the globalization?

Yes there were risks accompanied by globalization to the company. Due to its expansion the company started facing tough competition of resources from other companies dealing with the manufacture of furniture products like KUKA and IKEA which are the main competitors in the industry.

Also there were risks associated with governance system in matters of documentations required to start and run the business in another country which if not done well following due procedures might have led to closure of the business. But because it was correctly achieved the business remained steady.

How were these risks minimized?

These risks were minimized by using the ideal plan we had of the benchmarking which saw us remain steady in the aims of the company which was done by giving the training to the workforce which enabled them remain focused on ensuring that they provided their services to the best to counter the competition the company was receiving from other companies in the industry to minimize the risks of globalization.

Also we identified the strengths, weaknesses, opportunities the company had and the threats the company was facing and reacted towards all of them such that where there was threat we invented the measures necessary to stop it and enforced the interdepartmental operations to improve service delivery to the customers.

Reference:

Waters, M. (2009). Globalization . London: Routledge.

International Consortium for the Management of Academic Publication., & International Consortium for Alternative Academic Publication. (2001). Globalization . Pueblo, CO: International Consortium for the Management of Academic Publication.

Haugen, D. M., & Mach, R. (2010).

Globalization . Detroit: Greenhaven Press