Notre Dame University Bangladesh (NDUB)

Summer 2021 Trimester

Quiz 2 Script

Student ID: …211980005 Dept.: MBA-13 Section: MBA-13 Course Code: STM – 6201

Course Title: Strategic Management Batch: 13 Date of Submission: 15.08 2021

Answer to the Question number: 1

Ethnocentric orientation:
Ethnocentric Orientation is the approach whereby an organization believes that its practices
within its domestic market should drive its international strategy. The term ethnocentric
Orientation means that a company does not differentiate between domestic and foreign markets
and applies the same techniques in foreign markets applied in domestic marketing. Polycentric
Orientation is the opposite of ethnocentric Orientation.
Polycentric Orientation:
Polycentric Orientation is when an organization understands that every international market
requires its unique approach. Polycentric Orientation means the country's culture in which a
strategy is to be implemented is allowed to dominate the decision-making process.
The Polycentric Orientation is more appropriate for Bangladesh.
Because when a firm adopts a polycentric approach to overseas markets, it attempts to organize
its international marketing activities on a country-to-country basis.
The polycentric approach works better among countries that have significant economic, political,
and cultural differences.
For example, Bangladeshi international firms tailoring their offerings to serve Bangladeshi
customers.
Answer to the Question Number:2
.
USA, Canada, and Europe are the primary buyers of our RMG products. And they are the most
potent buyers of these products

Because Bangladesh has the advantage of producing RMG items at lower labor costs globally, it
specializes in the production of low-cost RMG items. The specialized organizations will ensure
strict compliance with building standards and run regular inspection programs. This sector now
becomes one of the most significant contributors to the economy of Bangladesh. Cheap labor,
enough skill, and development in the supportive sectors attract the world-famous brands like H
& M, Zara, Macy's, Wal-Mart, etc., (Khan, 2016). The Ready-Made Garments sector of
Bangladesh has observed remarkable growth since its beginning. RMG export industries'. This
sector has more significant potential than any other sector of Bangladesh compared to
employment and foreign earnings.
So this is why they are so powerful.

Answer to the Question Number:3

According to the Boston Consulting Group (BCG) matrix, the strategies, as a top-level
administrator, I should apply for the products placed in star position (product X) is;
1. Increase investment in a product to increase its market share. For example, we can push a
question mark into a star and, finally, a cash cow.

2. If we can't invest more into a product, hold it in the same quadrant, and leave it be.

The business units or products that have the best market share and generate the most cash are
considered stars. Monopolies and first-to-market products are frequently termed stars. However,
because of their high growth rate, stars consume large amounts of cash. It generally results in the
same amount of money coming in that is going out. Stars can eventually become cash cows if
they sustain their success until a high-growth market slows down. A fundamental tenet of BCG's
strategy for growth is for companies to invest in stars.

As for dog position (product Y);

We have to release the amount of money already stuck in the business. And invest it in star or
cash cow.
Answer to question number: 5
A firm fail because of ;
Firm failures are a normal part of the business. Our role is not to stop firms from failing, but we
do aim for the failure to cause as little disruption as possible. We do this by making sure that
firms have proper measures in place to keep your money safe.
1. Poor cash flow management
2. Losing control of the finances
3. Bad planning and a lack of strategy
4. Weak leadership
5. Overdependence on a few big customers

The things we should do to save a failing business:

1. Change your mindset.

2. Perform a SWOT analysis.
3. Understand your target market and ideal client.
4. Set SMART objectives and create a plan.
5. Reduce costs and prioritize what you pay.
6. Manage your cash flow.
7. Talk to creditors, don't ignore them.
8. Organize your business.
9. Stop wasting time on repetitive tasks
10. Always focus on your clients.