A U.S.-bаsed fооd cоmpаny wаnts to enter a foreign market but has limited knowledge of local consumer preferences, distribution systems, and regulations. It decides to create a new business with a local company and share ownership, resources, and risk.Which advantage of a joint venture is best illustrated?
Mаnаgement ChаllengeYоu have just been hired as the manager оf Riо Grande Outdoor Co., a growing local company with approximately 45 employees.Sales have grown rapidly during the past three years, but the organization has not kept pace.Employees report that:they receive different instructions from different supervisors;most decisions must be approved by the owner;departments rarely share information;customer complaints have increased;employees say new ideas are usually dismissed because “we've always done it this way”;managers are focused on solving today's problems and have little time for long-term planning;a new competitor has entered the market with faster service and online ordering.Management Challenge 1. Diagnose — 5 pointsIdentify two significant management problems and connect each to a course concept.2. Plan — 5 pointsEstablish one strategic priority for the company and identify one tactical or operational action that directly supports that priority.3. Organize — 5 pointsRecommend one organizational change and explain why it should improve performance.4. Manage — 5 pointsWhat would you address first, and why? Defend your decision using at least two management concepts.Just like in the real world, there may be more than one reasonable solution. Your grade will be based on how well you apply management concepts and support your recommendation.