Analysis on the strategic management of smrt corp using delta model

Strategic Management for SMRT Corporation ( Asia Pacific Best Metro Operator ) TABLE OF CONTENTS ,[object Object]

Overview of the company’s business unit

Assessment of the company’s strategy using The Delta Model

Analysis of the company’s strategy using Strategy Maps

Bibliography and References Analysis On Business Strategy Of SMRT Corporation Using Delta Model ,[object Object], SMRT Corporation is setup with the purpose of running and operating a modern public transportation services. It was incorporated on March 6, 2000, as a result of an industry overhaul to form multi-modal public-transport operators in Singapore. As a holding company listed on the Singapore Exchange since July 26, 2000, it operates bus, rail, taxi and other public-transport services via several wholly-owned subsidiaries. Here, for this project paper we will conduct an analysis of the company’s business strategy. We seek to analyze what is its current business strategy adopted by the company and what are the possible business strategy which can be implemented in the company to take it to the next level as the company seek to benchmark itself as a true world class public transportation service provider. The company has now embark on the mission of growing its revenue beyond the normal fare revenue through the expansion of its other business unit which are non-fare based namely its SMRT Investment unit, SMRT Far East unit, SMRT Engineering which broaden its services across regional market. Here we are looking at a company that seek to grow beyond its traditional market after successfully entering into Shenzhen, China market to operate the public bus service there and its recent foray into the Middle East market through securing the maintenance and operating contract for the Palm Jumeirah’s monorail services. We are beginning to see how the company is able to transform itself from a home grown based public transportation service provider by expanding its capabilities by harnessing its through top notch human capital couple with a very well managed team of experienced top managers. In this paper we will incorporate the skills learned from earlier module like marketing, financial, operational, human resources, leadership, IT and strategic management to find out what makes this company perform and how it can become even better through the applicaton of strategy proponents like the Delta Model, Strategy Maps, SWOT Analysis and Porter’s Five Forces. The organization structure of the company is shown below: For this specific research we are targeting to analyze all the eight business units of SMRT Corporation Ltd. Overall, last year the company enjoys an annual turnover of nearly S$895 million, achieving EBIT of S $ 321 million and has total assets worth more than S$1.4 billion. The SMRT Trains Ltd business unit was incorporated in 1987 and operates the first mass rapid transit system in Singapore. The 89.4 km MRT system, which consists of the North South and East West lines stretching over 51 stations along major high density travel corridors, serves more than a million passengers daily. The MRT system is currently under expansion to include the Circle Line (CCL), which is a fully underground orbital system linking all radial lines leading to the city. The CCL is 33.3 km long with 29 stations and will interchange with the North South Line, East West Line and North East Line. SMRT Trains pride itselves in providing excellent customer service to the 2 million passengers who travel in its network daily. This customer charter sets the framework that guides them in delivering service to its passengers. There are 6 important factor mentioned in SMRT Corporation’s client charter. Firstly, the aspect of safety and security. The safety of its passengers is the company’s top priority. SMRT maintain safety in the network by ensuring its system is equipped with the necessary safety and security features, raising awareness through public programmes and running visual and audio reminders on how passengers may report unsafe acts. Secondly, on comfort and cleanliness.All their vehicles and premises under its maintenance are cleaned regularly and kept in good condition. Faulty installations are repaired with minimum downtime. Thirdly, the efforts made to provide a high level of accessibility, and the needs of those with reduced mobility will be attended to within its means. Fourthly, on issue concerning the environment , SMRT Corporation as an organisation has placed green issues at the top of its agenda, they are concerned with reducing atmospheric pollutants and using alternative fuel sources in a bid to limit consumption of rapidly depleting natural resources. Fifthy, taking all passenger feedback seriously, and seeking their help to provide details so that the company may take prompt action to address the concerns. And finally, the six point on its client charter is by engaging with passengers’ and seeking their cooperation in jointly improving the service level of SMRT. ,[object Object],For this specific research project paper for SMRT Corporation, we are utilizing the Delta model framework ( Hax & Wilde II, 2001) that consist the triangle with three strategic distinct options. They include the system lock-in , the best product and total customer solutions. Here, SMRT Corporation are in the position of achieving best in term of product and good customer service solution. As such, SMRT Corporation are working towards towards the system lock-in position to make themselves the preferred public transportation mode used by the general masses after 24 years in operation. We applied the Triangle Distinct which was part of The Delta Model. The feature three distinct strategic option consisting the system lock-in, total customer solutions and best products are part of the Delta Model designed by Hax and Wilde II which aspire to help managers in the articulation and implementation of effective corporate and business strategies. The result of this effort is an integrated strategy development process that presents a new approach and a new discipline to strategic management. It focused on a new set of strategic positioning options that revolve around the concept of quot;
bondingquot;
. The Delta Model also addresses the critical issue of linking strategy to execution through the discussion of the use of Adaptive Processes, Aggregate, Granular Metrics, and Experimentation and Feedback to drive performance. ( source : The Delta Model : Hax, Wilde II, 2001 ) ,[object Object], SMRT Corporation has eight business unit which seek to enhanced its revenue growth strategy for its stakeholder. From my analysis here the respective business units are split between the fare businesses and the non-fare businesses. The fare businesses profile include the MRT, LRT trains and buses while the non-fare businesses profile are their taxis units, the retail and advertising and lastly the engineering consultancy and services. For the financial performance of the company for the past 5 year from 2006 – 2010, the company perform well driven by the strong ridership numbers, expansion of its retails and commercial spaces and the performance of its overseas consultancy services and the businesses of operation and maintenance. ( source :Analysis by Ralph Yew, January 2011 ) The Company Milestones since its inception in 1987 till now 2011. We observed that the company is very focus on turning strong profitability to its shareholders by delivering good public transportation services to all segment of its customers. It is now 10 years since its listing on the SGX, in the process making itself a very dynamic and progressive organization. In 2009 it expanded its operating services to Dubai by operating the monorail lines of Palm Jumeirah and then following years it gained success in mainland China with its acquisition of Shenzhen Zona giving it the exclusive rights to run the public buses service in district of Shenzhen. While on the financial reporting, the Company’s EBITDA Performance from year 2006 to 2010 ( 5 Years ) are analyzed and reported here. (Source : Analysis by Ralph Yew, January 2011) ,[object Object],SWOT Analysis of the company’s business unit on how the organization can deals with its internal and external factors. SMRT Corporation maintain a safe, healthy and viable working environment and conduct all operations in a manner consistent with its sustainability policy framework. Based on the the company SMRT, we analyzed its industry structure with the five Forces which enables us to conclude the SWOT of the organization. Since, we are able to highlight its weaknesses being its high dependence on its European vendors for its train components and parts , the threat of the oil price and the public transportation business which are regulated by the Land Transport Authority ( LTA ) we would be able to formulate some recommendations to SMRT to mitigate some of the mention risks. By utilizing the SWOT Analysis here are the result of SMRT’s SWOT:- ,[object Object]

Analysis of SMRT using the 5 Forces Competitive Analysis is shown below:-

The only competitors of SMRT is SBS Transit who also run the bus and LRT services. Thus, SMRT has to position itself to be a better provider in comparison to SBS Transit. However in term of the share of MRT lines and buses routes, SMRT has a better economies of scale and its MRT segment generating 60% of the yearly revenue for year 2009, producing 70% of its group EBIT. SMRT must work on improving and protecting its share of the market for the MRT segment. The threat of new entrant is very low since the business is regulated. On bargaining power of customer, this is medium since most Singaporean public regard the SMRT’s MRT, buses and taxis services as very friendly and reliable. On the threat of substitutes, this is low for SMRT since Government is on the mission to increase public mode usage in the next 10 years with the doubling of its MRT lines up to 350km. On bargaining power of suppliers, this is medium since most of the vendors like Bombardier, Alstom and Hitachi has their regional office setup in Singapore that focus on the long term prospect of working with SMRT to enhance, modernize its MRT fleet with latest state-of-art rail technology like energy efficient fleet.

Analysis of SMRT Financial Results From 2006 to 2010

On analysis of the respective business unit, our findings of the company’s performance of its respective business unit comprising the revenue return of its fare revenue and non-fare revenue. The performance of its fare revenue as below showed a CAGR of around 4.7%. This is very healthy and sustainable growth.

(Analysis and graphics by Ralph Yew, Feb 2011)

While for the non-revenue fare it perform equally well year on year with compounded annual growth ( CAGR ) of 10.5% which holds much promise for future growth and innovation in this segment of the business units. On this basis, SMRT should focus on building this segment and unlocking further the core asset of this segment.

(Analysis and graphics by Ralph Yew, February 2011)

Analysis using the PESTLE model

On the PESTEL Analaysis we ranked technology and legislation very high since the public transportation system in Singapore is regulated by the Land Transport Authority (LTA) and SMRT is under the purview of the LTA and has to comply to its guidances especially on the charging of fares. The factor of technology also played a very important role with SMRT investing in state of the at data analystics tools from Oracle to study the growth and pattern and bahavious of the passengers, The data are then mine for future opportunity like target advertising and marketing efforts. The other notable mentioned include the use of digital display system with real transit time that are accessible by mobile phone to locate train schedule for the ease of passengers and the under development of the knowledge management system ( KMS ) which is used by the SMRT staff for learning and development. The setting up of its own vocational program on rapid transit with National Institute of Technical ( NITEC ) is also commendable to face the shortages in the supply of good skillful technician and engineers.

On the aspect of society and environment it ranked medium, with Singapore city having a very informed and educated society that regard their urban mobility and LRT as their way of live – using that to commute for work and for leisure. The working executives from Gen-X and Generation-Y prefer to commute on the public transportation system which is fast, reliable and efficient. Furthermore the train is consider a green people mover with very less emission of green house gases that again goes well with the policy set by the Singapore government of making the city clean and green.

While on the factor of economic, the international investment community regards Singapore as having a modern and efficient public transportation system that makes them want to invest and run their business in the city. In fact with the recent opening of the two integrated casinos has firmly placed Singapore on the world tourism map with a good connectivity of LRT , monorail and SMRT feeder buses to make the visitors travel seamless and a great experience. For political factor, the recent announcement of a 10 year LRT vision for Singapore is another milestone for SMRT that will ensure that it will grow its revenue consistently for the next 10 years to come.Analysis using the Triangle of 3 Strategic Distinct Best Product: The best product positioning builds upon the classical form of competition. The customer is attracted by the inherent characteristics of the product itself — either through low cost, which provides a price advantage that can be partly passed to the customer — or through differentiation, which introduces unique features that the customer values and is willing to pay a premium. The current fare based products tend to be standardized. It is serving a huge volume of passengers in the excess of millions. The customer is generic, massive, and faceless. The central focus of attention is the competitor that we are trying to equal or surpass. The drivers are the product economics and the internal supply chain, which provide the engine for efficient product production. Innovation is centered in the internal product development process. The main limitation of this approach is that is generates the least amount of customer bonding, hence making the incumbent firms most vulnerable to new entrants. Its obsessive concern with the competitors often leads to imitation and price war, resulting in rivalry and convergence — the worst of all deals. In spite of the inherent limitations of this strategic position, it is by far the most widely adopted, and the default position for those business firms that do not deliberately consider other strategic alternatives. Total Customer Solution :The total customer solution is a complete reversal of the Best Product approach. Instead of commoditizing the customer, SMRT seek for deeper customer understanding and relationship that allows it to develop value propositions that bond to each individual customer. Instead of developing and marketing standardized and isolate products, SMRT seek to provide a coherent composition of products and services aimed at enhancing the customer ability to create their own economic value. Instead of concentrating inwardly on its own supply chain, SMRT seek to develop an integrated supply chain that links them with key suppliers. Instead of focusing on competitors and imitating them, SMRT redefine the ways to capture and serve the customer by putting together the overall set of corporate capabilities that enhance its product offering. SMRT are outward driven; the customer's economics served as its guide. Its strategy is not war with the competitors; but to love its customers. The innovation process is not oriented toward the design of standardized product but to tailor specifically to its customers. System Lock-in : The system lock-in strategic option has the widest scope; it includes the extended enterprise — the firm, the customers, the suppliers, and most importantly, the key quot;
complementorsquot;
. A complementor is a firm that engages in the delivery of products and services that enhances its own product and service portfolio. The key to this strategic option is to identify, attract, and nurture the complementors. For its competitive positioning analyzed here the activities of the company that drives its profitability being the fare based model and the much improved non-fare based revenue. SMRT may concentrate on unlocking the potential of this non-fare based revenue by launching new product lines including its consultancy, research, training and operating overseas metro into strategic markets across Asia Pacific. It can leverage its profile of winning the best metro operator awards in Asia Pacific to position itself to move into the new value chain by working with its strategic partner especially in the new emerging market like Indonesia, India and China who have all moved very aggressively into the expansion of their rail infrastructure both in passengers as well as freight lines. ,[object Object],SMRT Corporation for their business strategic agenda of serving its general public and passengers with a world class user experience. Here below outlone the SMRT Corp current operated MRT lines in Singapore. The chart here show the contribution from the fare revenue of its MRT business unit. On more detailed analysis of its business model we make reference to the Strategy Maps which was a tool used in today corporate organization known as Balanced Scorecard. Here, using the Strategy Maps the organization SMRT are align to the mission of focusing first on the customer perspective, improvement on its internal business processes, improving the financial perspective of the company for its shareholders and finally investing in learning and growth for its people. This will be further detailed on in the following chapter on the data analysis and report findings. Here we apply the famous Kaplan and Norton’s Strategy Maps which focused on a strategic intent underpin by four dimensions which are shown in the chart below with the 4 perpective derived from the Strategy Maps . Financial PerspectiveThis is essential for SMRT to go for revenue growth with sustainability in mind as well as unlocking the asset of non-fare sector like advertising, digital marketing, consultancy, training and engineering services beyond Singapore marketCustomer PerspectiveTo provide the reliability and quality user experience with innovative product that complies to the international standard in public transportation system which are reliability, availability, mantainability and safety ( RAMS)Internal PerspectiveTo come up with world class product that are essential and benchmark by efficient processes like its knowledge management system and using latest data analytics tools.Learning & Growth PerspectiveAcquired, enhance and retain skill technical people which are vital for the continuous growth of their company as well as re-exporting this skills sets beyond Singapore . To quote from Babe Ruth:The way a team plays as a whole determines its success. You may have the greatest bunch of individual stars in the world, but if they don't play together, the club wont be worth a dime. SMRT : Impact Mapping of Drivers and Restraints based on the analysis Unimportant Critical Very UncertainVery CertainTechnology improvement and LRT lines extensionMove towards Green EconomyRevenue from non-fare Ridership Growth Service Market DriversRegulated on fareDepend on overseas vendors Cost of Petrol PriceMarket ChallengesTechnical staff shortagesCompetitionsAnalysis by : Ralph Yew, January 2011 In the mapping of the main key drivers which are critical for its continuous success are based on the quadrant of growing a healthy passenger ridership strategy, investing in operational effectiveness in order for maximization of the customer value, growing the non-fare revenue chain and lastly investing in new MRT technology and engineering services which are under category of green technology. On the innovation in green technology and clean technology it holds much promises in differentiating SMRT from its closest competitor SBS Transit in the comparative advantage. In the System Lock-in strategic position the role of each process continues to change and adapt. Operational Effectiveness is concerned with enhancing the overall system performance, by consolidating strong partnerships with complementors. For customer targeting, it attempts to consolidate harmonized system architecture through a network of complementors and other interfaces. The ultimate Innovation goal is to develop an appropriate industry standard, managing the breadth and range of applications and interfaces. At the stages of Adaptive Processes. Firstly, the Framework for Metrics. Here the Performance measurements and quantifiable indicators are essential for the development, execution plus monitoring of the desired strategy. The Delta Model aligns performance metrics to the strategic options selected and their required Adaptive Processes. Below is the Smple of the set Key Perfomance Indicators for its MRT and bus business unit. Secondly, on Granular Metrics, since aggregate metrics are essential for gathering the full picture of overall performance, they are not enough. They need to be complemented by individual granular metrics whose objective is understanding the variability in the behavior of some critical parameters such as product costs, customer profitability, workers productivity, as so on. The performance of these parameters is inevitably non-linear. SMRT need to measure this variability in order to assess what is the cause. With that knowledge the company can begin to learn how to improve performance by making corrective actions and even taking on innovative solutions. Thirdly, the Feedback as this process of social learning will promote the development of good communication strategies that are effective and relevant. Here we identified the relative metrics, and conducted the appropriate experiments to quot;
fine-tunequot;
this adaptive processes, and to move forward with implementation. However, after the execution the company will still likely need to modify the selected course of action and the consequent strategic agenda to allow for unexpected changes in your basic hypotheses. Finally, SMRT will need to constantly monitor and measure performance, identify changes versus the original plan, and determine corrective and adaptive actions. Here we need to build enough flexibility into the management system, organizational structure, and resources to allow for proper changes to be made. Like any change management in any large organization they must involved the buy-in from every members in regardless to their position. For instance to creat this culture of excellence and world class customers service the management need to constantly convey a positive communications and message to its front line customer service personnel, its technical operators and all the way to the back end support staff. Such transformation will make the staff having the ownership to realize the mission and future aspiration of their beloved organization. 6.0 Recommendation and Strategic Action Plan On sustainability performance reporting for SMRT, it should provide a balanced and reasonable representation of the sustainability performance of a reporting organization – including both positive and negative. Yet in this era of unprecedented economic growth, achieving this goal can seem more of an aspiration than a reality. As economies globalize, new opportunities to generate prosperity and quality of life are arising through knowledge-sharing, business and access to technology. However, these opportunities are accompanied by new risks to the stability of the environment. Below is a benchmark of SMRT performance against those set by the rail operators worldwide in term of punctuality, manpower, cost efficiency and safety. It convincingly showed SMRT Corp ranking exceeded the 97% for all the four category industry ratio. Here is a testament of its good planning supported by a strong culture of execution. 7.0 Going Forward For The Company Finally, the learned lessons from analyzing the strategy of the company, we conclude that SMRT is a very healthy progressive company with strong leadership and management capabilities to realized its corporate mission to serve the interest of the general public while returning a strong financial returns to its shareholders. The key considerations to reach successful outcomes must include two-way dialogue which encourages learning and exchange of knowledge. We depicts its key driver of success in the graphic shown below: This process of social learning will promote the development of good communication strategies that are effective and relevant. There are currently 4 extension to the existing MRT network in Singapore, they include the Thomson Line to be ready by 2018, The Eastern Line to be ready in 2020, the North South Line extension which are in construction, Tuas extension and the Circle Line which are in stages of completion. The entire doubling of the MRT line in Singapore up to 350km is much admirable in line with its Government plan to have the mode usage of public transportation exceeding 70% in comparison to private mode of transport. Source : SMRT Future Plan From all the opportunity presented to SMRT in going forward, it may adopt the winning formula brought about by the shift from the market driver factor into the next level of forces of competitive advantage. This is potentially about unlocking the hidden assets of SMRT with the company’s development of resources and capabilities. This is known as Resource Based View ( RBV). The RBV essentially has four components. They are the competitive advantage, the resulting advantage, the appropriability and the timing of the acquisition of those resources. On its first component the unique competencies, here we look at SMRT tangible resources like its financial assets and the intangible assets like brand reputation and technological superiority. The resources can be converted into capabilities when SMRT develop the necessary routine to use them effectively. This capabilities are oftern due to the investment in non tradable factors like training and leadership skills development of its people. On the second component, the sustainability of the competitive advantage demands that its resource based are scarce and difficult to imitate and substitute like its operational excellence track record of safety and excellence in customer service. On the third component, the appropriability address who will capture the value. Here is on subject of retention of value created inside the company. SMRT must ensure that the value retained inside the company and are not pass on to competitors. This may be the intellectual knowhow that top people bring out to the competitors when they resign and move into another company. On the fourth component, the opportunitism and timing which is crucial since if SMRT has an opportunity to acquired new business or new market territory it must do it only when the cost incurred in acquiring the resource lower than the value created by SMRT. The cost of implementing the strategy should not offset the value generated by it. SMRT in seeking to unlock all this hidden assets, depends on its management’s abilities to consolidate its company wide operations, human resource and technologies skills to quickly adapt to changing opportunities. Although being a huge company, it must be nimble and flexible to adapt to changes quickly. Additionally, top management should consider spending significant amount of time in developing corporate strategic architecture and even 10 years strategic plan that establishes objective for competency building. The strategic architecture are roadmap for the future which will determine which core competencies to build and to identify their constituent technologies. The strategic architecture will guide the competence building. In echoing the concept of a winning formula promoted by CK Prahald and Hamel based on the RBV, we suggest that firstly , SMRT Corporation make resulting advantage that are not easily imitated by their competitors. Secondly, appropriate the resulting economic rent by preventing slack conditions and also preventing negative hold-up. Thirdly, SMRT Corp can develop resources and capabilities that are unique, valuable and non tradable and constitute the unique competencies of the organization. With all this action plan in place, SMRT Corp can work towards its strategic intent to position itself as the No 1 regional public transportation services leader in ASEAN which pride itself as fast, reliable and friendly public transportation service provider. Finally, ensuring that the implementation process which is a must , is done in way that its associated costs do not overwhelm the resulting benefits. 8.0 Conclusions Here a famous quote by Carl Jung states that Your vision will become clear only when you can look into your own heart. Who looks outside, dreams; who looks inside, awakens. This project paper has been a revelation to me personally, since through the series of primary interview with the management of SMRT Corporation and some interview session and discussing with key people of SMRT has allowed me to have a broader and in-depth assessment of the company learning and growth culture from a research standpoint. It has even allowed me as a professional executive to grow my domain knowledge within the transportation sector while at the same time for me to explore a possible business collaboration within SMRT Institute to conduct their ITE Nitec Rapid Transit training module outside of Singapore. The prospect of the public transportation business augurs well to all developing cities around the world as a mean to solve chronic traffic congestion brought about by the factor of urbanization and the increase in economic activities within the capital city. It is really my hope and personal vision to take my knowledge acquired here to the next level by applying this strategic management skillsets I learned to help my country propel into the realization of its Greater KL plan and creation of a more modernized public transportation infrastructure development for this country. I look forward to helping my own country chart out its 10 year Klang Valley Land Public Transport Regional Masterplan. Fresh from completing this final project paper for the MBA, the last 18 months gave me wealth of experience which was truly worthwhile. It has taught me to not only acquired knowledge but to apply them in my personal journey of leadership and to gain more wisdom through sharing my knowledge and experience with like minded professionals in international conferences and forum. In particular, the lesson of leadership applied together with management skills gave me a clear perspective to be better able to prepare for the changing landscape in the business world be it internally or externally. In the last 24 months, we have seen the worst world economic turmoil brought down the giant corporate companies like AIG, Citigroup, General Motors and Lehman Brothers. Yet sametime, we have witnessed new innovative firm like Google, Apple, RIM Blackberry and even social networking giant Facebook taking the world by storm with their innovative products and services that continue to inspire us to think and act forward. The true measurement of any good strategy is in the execution. As we foster on growing our business bottom line and developing our own potential we must not forget in bringing up another fellow human beings. Thus, in leaving a lasting legacy one must believe in bringing out the best in other by empowering them and encouraging each other to be better. Such noble intent will make ensure the company continue to prosper and grow to become an international player. And the company can stamp its mark in the international map as a successful home grown business entity with an international business outlook. My observation in the past few years has lead me to realize that the world is short of leaders who can inspire positive change in their team while being grounded by strong ethical principle. As the saying goes, everything rise and falls on its leader. May there be a global movement in every industry to churn out leaders that serve the interest of their people first. To quote from Margaret Mead: Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has. ,[object Object],1.Johnson, Scholes, Whittington (2004). Exploring Corporate Straegy, Prentice Hall, page 256-258. 2.Hax and Wilde II (2001), The Delta Project.Palgrave, page 258 3.Schein E.H.(2004), Organizational Culture and Leadership, 3rd Edition, San Francisco 4.L. Friedman ( 2008), Hot, Flat & Crowded , Strauss & Giroux, Macmillan 5. Heilbroner, Thurow (1998), Economics Explained, NY Simon Shuster 6. Stiglitz (2006), Making Globalization Work, NY Norton 7. Donaldson (1982 ), Corporations and Morality, Prentice Halls 8. Deal, T.E and Kenedy A.A., (2000), Corporate Cultures : The rites and rituals of corporate life, Cambridge MA: Perseus 9.Trompenaars, (2000), Case Studies on Cultural Dilemmas, Nyenrode University Press 10.Gudykunst, 2003),Cross Cultural and Intercultural Communication, Thousand Oaks, Sage: 53-71 11.Myers, D.G.(2005), Social Psychology, 8th Edition, New York, NY : McGraw Hill 12.Hoecklin, L (1995), Managing Cultural Differences: Strategies for competitive advantage, Wokingham : Addison Wesley 13.Wall, S. and Rees,B (2001), Introduction to International Business, Harlow: Pearson Education 14. Schein E.H.(2004), Organizational Culture and Leadership, 3rd Edition, San Francisco, CA : Jossey-Bass 15.Browaeys and Price ( 2008), Understanding Cross-cultural Management, Prentice Hall, pg 177-178 16.Sloman and Hinde, 2007, Economics for Business, Prentice Hall, 17.Porter, March-April 1979, How Competitive Forces Shape Strategy, Harvard Business Review School, page 86-93 18.Useem, 1999, Foundation of Leadership, Wharton, University Pennsylvania 19.Begg D. and Ward D.,2006, Economics for Business, Berkshire, McGraw Hill 20.Layton, A Robison, Tucker, Economics for Today,Thomson Australia 2004 21.Ehnke, Fulton, Akridge, 2004, Industry Analysis- Five Forces, Purdue University 22.Goleman, Daniel, (2008), “When emotional intelligence does not matter more than IQ,” April 2008, Institute Health and Human Potential 23.Bailey OG Harindranath, (2006) Ethic minority, cultural difference, International Journal of Media and Cultural Politics, 2, 299-316. 24.Kellog School of Management, Northwestern University( 2008). “Cultural intelligence in global terms: A fusion model of collaboration” Based on the research of Maddy Janseens and Jeanne M. Brett. October 20, 2008. 25.Bennett, J. M., & Bennett, M. J. (2004). Developing intercultural sensitivity: An Integrative approach to global and domestic diversity. In D. Landis, J. M. Bennett, & M. J. Bennett (Eds.), Handbook of intercultural training (pp. 147-165). Thousand Oaks, CA: Sage. 26.Berry, J. W., & Kalin, R. (1995). Multicultural and ethnic attitudes in Canada: An Overview of the 1991 national survey. Canadian Journal of Behavioral Science, 27, 301-320 27.Chen, G. M., & Starosta, W. J. (2000). The development and validation of the international communication sensitivity scale. Human Communication, 3, 2-14. 28.Porter (2005.) Intercultural Communication: A reader (pp. 406-413). Belmont, CA: Wadsworth Publishing Company. 29.Greenholtz, J. (2000). Accessing cross-cultural competence in transnational education: The intercultural development inventory. Higher Education in Europe 30.Cateora, Gilly, Graham (2009), International Marketing – Danger of Stereotyping, McGrawHill, page559-566 31.Gianna Eckhart, (2005) “Local Branding in Foreign Product Category in Emerging Market”, Journal of International Marketing, Pg 57-79 32.Klaus E Meyer, (2004),”Perspective of Multinational Enterprises in Emerging Economies”, Journal of International Business Studies, page 259-276 33.CK Prahalad and Hammond (2002), “Serving the World’s Poor, Profitably, Harvard Business Review Sept 2002, page 24-32 34.Holstein (2005), “ Emerging Markets, Emerging Giants”, NY Times, April 2007, Page 4 35.Bardsher (2007), How China Runs the World Economy, The Economist, July 2005, Page 61-63 36.Ghemawat (2003), “Semiglobalization and International Business Strategy”, Journal of International Business Studies, Page 138-152 37.Rugman , Verbeke (2004), “Perspective on Regional and Global Strategies of Multinational Enterprises”, Journal of International Business Studies, Page 3-18 38.Buckley, Hashai (2004), “ A Global System View ofFirm Boundaries, “Journal of International Business Studies, page 33-45 39.Sirmon, Lane (2004),”A Model of Cultural Differences and International Alliance Performance”, Journal of Business Studies, page 306-319 APPENDIX 1.The Distinct Triangle ,[object Object],2.The Delta Model ( source : Hax and Wilde II, 2001 ) 3.The Strategy Maps (Source : Strategy Maps , Kaplan & Norton, 2004) 4. Delta Project framework: Adaptive processes To link strategy with execution, there are three business processes that capture quite concretely the nature of the managerial work: Operational Effectiveness ,Customer Targeting and Innovation 5.Strategy Maps 6. The Resource Based View by Margaret A Peteraf (1993), The cornerstone of competitive advantage a resource based view, Strategic Management Journal

Analysis on the strategic management of smrt corp using delta model

Analysis on the strategic management of smrt corp using delta model

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Analysis on the strategic management of smrt corp using delta model