Review the CIBC Mellon: Managing a Cross-Border Joint Venture Case Study and respond to the following:
- Compare and contrast strategic controls and financial controls. — Provide specific examples of how each may be used to best serve a corporation.
- As a strategic leader, determine if you would feel ethically responsible for developing your firm’s human capital and state why. Discuss whether or not you believe your position is consistent with the majority or minority of today’s strategic leaders.
PART A – PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY: After reading this case study, this company is in a rather bad position. Economically, things were not going so great in the world, so ever company was starting to feel the effects of the recession. The choices that had to be made in order to keep the clients that were on board but to also potentially gain more clients. Faced with the following choices here is my assessment:
1- Is this the time to invest? Alot of money would have had to be raised in order to do this.2- Shut down business- before going bankrupt and getting into a further financial ruins, would it be better to bow out gracefully?3- Joint Ventures- this could work, but with the right internships. You have to be able to trust the new business partner and would this benefit BOTH organizations by being a joint company?
Part B – PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY:
Compare and contrast strategic controls and financial controls. Strategic control involves setting performance standards, assessing and improving a company’s current performance and setting goals for long-term business growth, it is also a way to manage the execution of your strategic plan, while financial controls focus on a company’s finances and accounting procedures.
Provide specific examples of how each may be used to best serve a corporation. Strategic control is maintaining your end state business plans. If your company needs a course correction, having strategic control will help you take charge and fix any issues. An example of financial control is whether or not to invest in certain areas of your business and how you set up your accounting.
As a strategic leader, determine if you would feel ethically responsible for developing your firm’s human capital and state why. As a strategic leader, I would feel responsible with human capital. Setting up my business to succeed and surrounding yourself with the best possible people so your company can achieve its vision.
Discuss whether or not you believe your position is consistent with the majority or minority of today’s strategic leaders. I believe that every successful leader in the world is only as good as the people who are working for and running the company. Take Amazon for instance, they are consistently training the next generation to take their place in management. Next person up concept.