Question : need Conclusion.

Explain how you will implement the virtual management?

VIRTUAL MANAGEMENT STRATEGY

Companies are continued to expand its business globally. The number of employees working in a team with colleagues and managers are separated from different region and even from different time zones. This virtual team strategy helps to develop business globally. At the same time managing virtual team effectively is becoming great challenges. Hence every virtual manager needs to master with best practices, latest technologies and the tools to get effective work of global virtual teams.

In the given case www.souq.com at present is doing business in gulf region. Souq.com wants to enter in US online market. As Global Marketing Manager of www.souq.com, here are some strategies to implement the virtual management:

Be in regular and available - Virtual Manager/Global Marketing Manager must be in regular contact with their virtual teams. While they are entering into new market manager must be in regular contact and to talk about their teams regular work and he should also open to talk about their other activities in order to make them comfortable with work situation.

Build relationship - By organizing regular meetings with individuals and the virtual teams working in US market will give effective result. In todays digital world using video conferencing, Skype, social Medias etc., virtual manager/global marketing manager can build effective relationship with virtual teams. By conducting both face to face meetings (at least twice in a year) and on line meetings, manager can build relationships. To help in building relationship between team members, whenever the members can, manager should encourage their informal conversations. Hence manager should encourage his virtual team members to share their ideas, feelings and chat informally in order to build relationship and trust between the virtual team members.

Be culturally aware - Like global market in US market also cultural differences are very challenging task at market entry time. Training on cultural awareness and giving cultural sensitivity importance are even more important in virtual management implementation than face to face work environment.

Recruits shared experience persons - Global Marketing Manager/ Virtual manager should look for the persons who is having shared experience like different work places, different cultures in US market, different time Zones, experience in similar projects, educational background etc., in order to build strong relationship and trust among virtual work teams.

"Results - Process - Relationship" factors - Focusing on result, process and relationship are the key factors for the success of virtual management strategy. balancing these three factors are important for the virtual manager/global marketing manager when they plan for entering into any new global market.

How you will manage the team in US which is culturally, politically, and economically different from your country?

The US is very different from any of the gulf countries in all aspects of life, be it language, culture, traditions, clothing, social interactions and customs, religious beliefs or the way one perceives the life and the world outside. This huge difference takes a lot to be accustomed to, for someone who has an assignment on hand in the other location. Here is a strategy of managing a team in U.S.

1. Training and Education - The employees must be imparted a preliminary training and education of local culture, traditions, beliefs, religious sentiments and middle eastern way of life to maintain the essence of Gulf, while working in local environment.

2. Learning about the new market - Those dealing with the U.S. team must be accustomed to the cultural differences, legal and consumer protection systems, religious beliefs, people and their way of life, differences in family and social values, so they are able to strike the right cord with each other and there are no communication gaps.

3. Tweaking up the existing system -Making significant changes in marketing strategy, customer communication strategy, nature of promotional plans and campaigns to suit the local market. This should reflect in the design, mode and timing of customer contact to achieve the desired output.

4. Understanding consumer behavior - Observing and assessing differences in consumer preferences, buying patterns, consumption patterns, choice of merchandize and demographics of target market for helping the team to establish hold in the market.

5. Overcoming Religious differences - US is mush less religiously governed as compared to a gulf country, where religion influences the day to day life. This factor must be taken into account while dealing with remote team.

6. Tread with care - The team should follow a conservative mode of operation while working in a new market to avoid a cultural faux pas and maneuver its move observing the response and understanding of local scenario.

How the virtual teams will work together?

Once a business is built up and flourishing in its home market, it is regularly observed as the ideal time to branch out into another market. There is each probability that the organization comprehends its current market, its client base and their necessities and knows how to address these issues adequately. In the event that the organization appreciates solid deals, has extraordinary brand mindfulness and the business is steady in general, it might be the ideal time to dive in.

Nevertheless, as with every single new pursuit, there are dangers joined to this move and it isn't a stage to be trifled with. Another market won't be so agreeable and there will be new contenders and obscure dangers. The way to progress is a trained approach with the suitable level of speculation into an exhaustive market examination.

Step by step instructions to ENTER A NEW MARKET

1. Commit

It is of preeminent significance to unmistakably recognize who you will pitch to. This may sound basic; however there is frequently an excessively idealistic need to catch a bigger offer of another market. A littler market will make it less demanding to evaluate client necessities and guarantee that a bigger piece of a littler market is acquired as opposed to an inconsequential piece of a vast offer. It is likewise basic to set a reasonable time span inside which the coveted target share is to be accomplished and consequences of the move are to be surveyed.

2. Distinguish Entry Points

Once an unmistakable market is recognized, it is important to distinguish potential purposes of passage. To limit beginning venture and boost future incomes it winds up noticeably essential to ponder key conceivable passage focuses, measure advantages and disadvantages of each and afterward settle on an educated choice. The last decision ought to likewise in a perfect world take into account future development conceivable outcomes, both inside the new market and in addition into connecting ones. Any passage point picked ought to be evaluated against an arrangement of criteria, for example, does it enable access to an underserved advertise? Is there a solid need that can be satisfied? Are the key chiefs among the intended interest group open and do they have the financing expected to locate the new arrangement appealing? Are there any current contenders and is the new arrangement sufficiently solid to counter their assets and learning of the market?

3. Market Entry Strategy

All the action so far leads directly into the guide for future advances - the methodology for passage into the market. The initial step is to value your item. It needs to strike a harmony between moderateness for the intended interest group and plausibility for the business. It likewise needs to contemplate existing evaluating procedures and how to put the new item inside them. Once the value focuses are characterized, the new item or arrangement would now be able to be situated in like manner. How would you like to be seen by the client? With this objective discernment close by, the correspondence system becomes possibly the most important factor, where the intended interest groups and in addition the strategies to be utilized to contact them are distinguished and united. All levels of the intended interest group should be considered precisely, including influencers, leaders, media, end clients among others. Also, once this is precisely set up, the dispersion demonstrate is outlined which is the best methods for putting the item into the client's hands.

4. Assembly Plan

Any procedure should be caught up with an activity design. This transforms an abnormal state design into an on-ground execution arrangement. This ought to incorporate subtle elements of all required advertising designs and crusades and additionally courses of events for all these to be set into movement. Obviously characterized developments, for example, deals targets, piece of the pie and so forth should be chosen with all the key partners. All crusades and targets should be conveyed to the significant work force and clear proprietorship should be allocated for each of these procedures to guarantee straightforwardness in assessments. Procedures additionally should be characterized and imparted for all exercises, for example, what will be the business cycle took after and by what method will leads be sought after and shut.

5. Research

An all around arranged approach following the means above ought to guarantee that your hazard is limited. Be that as it may, to additionally reinforce and bolster the arrangement, some essential research can be done on a concentration gathering. Distinguishing a very much adjusted cross area of the intended interest group and moving toward them either face to face or by means of an online study can help give some essential outcomes that can give information to roll out any improvements previously a full market section is focused on.

6. Test

Another hazard alleviation procedure is to run a pilot venture in the objective market. This test should be deliberately characterized in order to guarantee that it is sufficiently huge to give an exact delineation of a vast scale take off exertion however not all that large as to suck in extra assets and duty. By achieving a couple of key points of reference in the pilot think about, any outstanding issues can be resolved before full organization.

7. Ramping Up

You are presently prepared for a full scale take off. Equipped with a solid technique, a point by point design of activity and aftereffects of research and pilot stages, it is currently time to develop and endeavor to accomplish more piece of the overall industry. The objective ought to be to target expanded piece of the overall industry and not simply expanded incomes. An attention on piece of the overall industry will mean expanding both showcasing and deals endeavors at the same time. As you offer more, the less demanding it will to offer in light of the fact that there will be greater deceivability of your image in the market and general buzz about the new player.

8. Exit Strategy

The last yet critical advance of this procedure is to get ready for both achievement and disappointment. What will you do on the off chance that you make extraordinary progress? You could confer as long as possible or offer while you're ahead and proceed onward to new markets. Or, then again on the off chance that you neglect to accomplish the turning points set in the predefined time, will you endeavor to learn and proceed or cut out before advance assets and time are squandered. Regardless, an opportune move must be made if an arrangement is as of now set up.

What tools are they using?

For doing online retail business in the US we need a store for dispatching the goods ordered online and an online portal. For online portal, we will locate good portal makers in the US and the selected one will have to guide us through the legal issues also. This portal maker's meeting will be conducted through Skype with the owners in UAE and timing will be in the evening in UAE so that is morning in the US UAE is 8 hours ahead of US. So the most appropriate time will be 10 AM in USA and 6 PM in UAE. Since language is a barrier so we will be keeping a translator on UAE side to translate from English to Arabic. Now, this portal maker has to be strong and influential in the US as he will be guiding us through the legalities of doing an online e-commerce business in the US. Parallel we will hire a consultant also for guidance.

The US market is a highly competitive and matured market with very competitive brands and consumers being ever so mature and alert. So standing out will be an issue. From the market entry point of view, there will not be many hurdles so it is better if SOUQ.COM comes with a retail store first at an up marketplace in New York just to understand the consumers about the type of products they buy. For taking this store on rent we will contact a local real estate agent and ask him to locate the store. Can we develop a questionnaire with key questions and interview one on one a few customers?

Tools that are being used:

Based on the user experiences the online website catering only to the consumers in the US with their kind of products at the best market rates.

Now the next thing is to locate a store for shipping the goods ordered online. Initially, the store we have set up in New York will be used. We have to make a tie-up with 3rd party logistics service provider also for transporting the goods ordered online. For buying the goods for sale through online portal existing suppliers of SOUQ.COM will be asked to do the service and deliver up to our store. As the quantum of sales through online increase we can have e-commerce stores in other geographies of US and we will tie up with more local 3 party logistics provider on a regional basis to save on freight cost. We will also look for opportunities for making tie-ups with local distributors and organizations for sourcing our products for online sales.

What are the advantages of using virtual?

The main advantage would be hiring the local talent suiting the business requirement. The business is run better when there are no cultural and language barriers to overcome. Virtual management also helps in customizing the products and services according to the local market. The team based out of the US will have a clear picture of the customer needs and they can market the products and services effectively. The success of internet depends on the user experience and that can be achieved by providing what the customers expect in terms of service offerings. The strategy would be:

1. Set up a local team with e-commerce and product management team.

2. Use the local knowledge to promote and to penetrate the market.

3. Customize the service offerings based on the local market needs.

4. The virtual team can run a customer-oriented marketing campaign.

5. The virtual team can be flexible with the business needs and coordinate effectively with the team in the Gulf.

What are some disadvantages they have and how they can overcome them?

Virtual management can be implemented for Souq online market and the information can be decentralized based on the multiple interconnections between the regions. Online market can be promoted by virtual management. Optimal usage of recourses and multidisciplinary communications can be provided at one point. To implement virtual management we need to consider the social responsibilities and cultural factors into account.

Though the political, cultural, and economical differences arises from one country to another we should move forward to implement our business strategies without any consequences, and successful management between all those differences brings a lot change in global online market and it should not affect the outcome.

US is very much developed country socially economically and Souq need to use the advanced techniques to succeed in global online market. To promote the business in US virtual teams should work with high integrity honesty and intelligence and they should be ready to provide solutions to the existing and future problems.

Virtual team needs to work in different time zones and there should be an overlapping between the working hours to conduct meetings. The quality of work is also important. There should not be bumping to each other in the team. And using tools for visual communications, chat rooms and emails within the team residing at different zones. Collaborating the information on spread sheets and documents. And we need to provide tools for screen sharing among the team. Teams should work in their own way individually performance index can be implemented for the whole team and rating factors to check the working hours, productivity of the team.

Performance reviews and personal and professional appraisals brings much change in the working environment. training and placement and testing before hiring and after hiring till the individual becomes as strong as a good team leader. Provide awards and rewards for best employees so that it inspires and motivates the new comers.

The meetings between the teams located at different zones can be organized by taking overlaps between the working hours accordingly managing the time zones, cultural factors and languages by promoting visual communications and chat rooms and individual responses can be recorded. These are the factors which have to be implemented for effective working of virtual teams to achieve success in any country in global online market.

Explain how you will manage meetings between the teams in US and gulf in terms of time, place and language?

As a manager how you will manage the outsourced projects?

As being a manager of company, the first which is to be considered is the communication. Communication plays a very important role in managing the project. Many communication barrier are there in-house situation which arise while there is working with different teams. This is why it gets very important to make use of communication strategy with the help of outsourcing team.

Things which should be considered before starting up of a project are:

Line of communication should be stated, so it can help at any point of item where the project gets stopped because of any problem.

Channel of communication should be decided in advance, as to which channel of communication should be used.

Frequency of communication should also be stated in advance, stating which all reports should be sent and how often.

How would you solve a problem between two workers?

As a manager i would solve the problem between two workers by first addressing the problem occurred and what misunderstanding has taken place. Then will solve the problem by talking with the workers personally over phone or Skype by setting up a meeting with the each worker individually and then have conversation with the two workers combined in a meeting over Skype or phone and will provide solution to the conflict occurred by explaining the mistake done by each worker from their side. As a manager i should be responsible for the problem occurred between two workers and take decisions based on the conflict.

What is your advice to the team for improvement?

It is difficult to advise something without knowing where the company stands currently in the market. But in general there are certain areas of improvement when it comes to global expansion and the company needs to meet these criteria to excel in the new market.

1. Analyze the target audience and create the marketing plan accordingly.

2. Hire the right marketing talent in the US market that can take the business in the right direction.

3. Create an internal communication plan for the teams to communicate effectively.

4. Conduct a thorough market study to analyze the potential and invest accordingly.

5. Don't go with the market trend and choose the marketing channels based on the business needs.

6. Concentrate more on the place and product in the marketing mix and generate quality leads for revenue.

7. Concentrate more on inbound marketing and become customer-centric in the approach.