Your final research paper will be based on the topic of your choice selected in Week 2.
Global Team Development (Burberry)
I am attaching the first half of the paper that was already completed I just need the second half for completion, Thank you.
GLOBAL TEAM DEVELOPMENT.
GLOBAL TEAM DEVELOPMENT
Global Team Development.
March 14, 2021
Global Team Development.
The global management of the Burberry fashion industry has been something that has been talked about by several people. The Burberry industry is one of the companies that has been dealing with design together with the designing of different form of cloth that provides the scene in the world market. The performance of this industry from British has been greatly determined by the large adaptation of business models from different sectors which has helped the industry to performance immensely. All these were done in the company or in the industry with the help of its global team management.
The purpose of this research on the Burberry fashion industry was mainly to focus on its global team management together with how they are operating to make sure that the fashion industry is dominating the markets all over the global (“Chapter 1: Introduction To Global Marketing”, 2021). Another aim of the research was to find out how the company is fostering the effectiveness relation together with the environmental integration factors.
With this research then the first that will be considered is the objectives that the global team management of the Burberry fashion industry had. The first objective that the global team management of this industry was to increase all the brand awareness that is in the foreign dynamic market. This means that the global team had an intention of making the products of the industry to be known which mostly the fashion items to be specific were. The global market team also had an objective of increasing the market share in the world market. This means that the market share of the Burberry industry was to be made to be more all over the markets that are found globally.
Another objective of the global team management in the Burberry fashion industry is also ensure that the industry’s products in this case the fashion products are effectively launched in all the foreign and also the global market. So in most scenarios, the global team management are the ones that are responsible for any campaigns that will be done globally with the aim of making the fashion products of the Burberry industry to be effective. This means that the entire market ventures that are to be done globally will be done by this global team management.
Because the global team management is responsible for the global market for the company, then the global team management should be able to work in a way that the Burberry industry are recording a lot of profits from the global market (2021). The global market is the market that is found globally and this means that it has got a lot of potential in making sure that the industry at large is getting a lot of positive impacts from this global markets. The global team management should in this case be able to take advantage of this factor and make the best out of the global market which will definitely make the industry to increase in terms of profits from the foreign markets.
Then the global team management basically deals with the global market management, this means that the team is responsible for all the work and actions that will be taken in regards of the global market. So for this global team management to attain its objectives, then there are several things that should be done. The first thing is that the team should have what is known as the balanced participation. A balanced participation is where all the team members of the global team management are working together or rather are participating in everything that the team is doing. This will then promote an effective teamwork within the global team management. Once all of the above objectives have been archived then the team has done a good work
The importance of a global team work is very evident in very organization that the team has worked on it positively. The first importance of the team work is that the team work plays a greater role in the inspiration of the teamwork when it comes to the creativity and innovation. This is because a teamwork setting has got a lot of creativity which inspires the team to work in a more creative way. The global team work also created a support network to the organization. This means that the organization will be able to have support networks with the presence of a global network. This is because every organization has got several problems at particular times which they can’t be able to deal with alone.
The global team management also helps when it comes to the projection of the global marketing growth. This means that the global team management will come up with ways in which the industry will use in monitoring or rather projecting the global market growth of the Burberry fashion industry. The global team management can also induce different factors to the industry that will help in determining the feasibility of investment in the company or rather in the Burberry fashion industry (“How to Manage Global Teams: 4 Tips & Tactics | HBS Online”, 2021). The global teamwork also helps the industry in breeding flexibility. For any industry and organization including the Burberry fashion industry, then they need to be flexible so that they can adapt to any situation at any given time. With the help of the global team management then the industry will surely be able to do this and at the same time be able to see the importance of the global team management in this case.
The global team management also promotes what is known as the career development. Because this is a team, then it has a duty of helping all the other employees in their career development. This will improve the career of the all team and at the same time build an individual’s career also.
After the Burberry fashion industry used the global team management in its operations brought a lot of impacts to the industry. First since the influence of the global team management then the company has been able to make a very significant progress in a lot of things including the distribution channel of the industry. Earlier before the discussion about the objectives of the global team management was to make the organization to be a successful in various fields including venturing in to the global market in a more successful way. And improving in the distribution channel is also another that shows that the company is venturing into the global market in a positive way. The reason for this is because the distribution channel cannot improve if the company has ventured in to any market including the foreign market successfully.
Another objective of the global team management towards the Burberry fashion industry was to make all the fashion products of this industry to be known or rather the products are being launched effectively in the foreign markets (“The Burberry business model: creating an international luxury fashion brand | Emerald Insight”, 2021). This has been seen in the latest report that the Burberry fashion industry released. The report showed that the company had a massive impact on the foreign market with their launch of their new product which was the one referred to as the Riccardo’s debut collection kingdom. This means that the work of the global team management was effective in the company or rather in this particular fashion industry,
Another finding is that after the company created this global team management, then they were able to record a profit with a strong balance of $837 million. This were mainly generated from the foreign markets. The main objective for the global team management was also to make the industry to record a lot of profits from the foreign market. With the report that was released then the team should be proud of themselves for archiving all the objectives.
When it comes to the recommendations that the global team management should consider in the oversee market dynamic for them to be successful are many. The first recommendation therefore that the global team management is that they should be able to build a good relationship with the governments of those foreign markets. Being able to build a strong relationship between the foreign market governments and the industry itself, then it will at least ease the work of the global team management in the global market. The reason for this is because at some point the global team management will receive support from the foreign governments pertaining their markets which will push their products to those markets.
Another recommendation that the global team management should have is that under no circumstances should they violate the rules and regulations for the global markets. The rules for the foreign markets or just any country especially when it comes to tax rules should not be violated at any time. This has been in several situations where people are violating or rather avoiding to pay the taxes (“The Challenges and Benefits of Teamwork in a Global Economy”, 2021). This will definitely result in the burning of the products of that particular industry I those markets. This will be a blow to the global team management especially in the global market.
Finally in the conclusion of this research then it has been realized that the global team management can be of really great help when it comes to any industry or organization that has go the intentions of venturing in the global markets and the foreign markets. The global team management can also help these certain industries in a big way just the way it become of great help to the Burberry fashion industry. This means that the global team management has got full control over the foreign and the global markets.
Burberryplc.com. (2021). Retrieved 12 March 2021, from https://www.burberryplc.com/content/dam/burberry/corporate/oar/documents/Burberry_201819-Annual-Report_Strategic-Report.pdf.
The Challenges and Benefits of Teamwork in a Global Economy. Time Clock Wizard. (2021). Retrieved 12 March 2021, from https://www.timeclockwizard.com/the-challenges-and-benefits-of-teamwork-in-a-global-economy#:~:text=Teamwork%20inspires%20creativity%20and%20innovation,participate%20in%20highly%20productive%20brainstorming.
Chapter 1: Introduction To Global Marketing. Fao.org. (2021). Retrieved 12 March 2021, from http://www.fao.org/3/W5973E/w5973e02.htm.
How to Manage Global Teams: 4 Tips & Tactics | HBS Online. Business Insights – Blog. (2021). Retrieved 12 March 2021, from https://online.hbs.edu/blog/post/how-to-manage-global-teams.
The Burberry business model: creating an international luxury fashion brand | Emerald Insight. Emerald.com. (2021). Retrieved 12 March 2021, from https://www.emerald.com/insight/content/doi/10.1108/09590550410546232/full/html?skipTracking=true.
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