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The goal of this task is to reflect on the assessment you developed for the case in Task-1, utilizing your workshops and experience with theoretical frameworks.
CEMEX fostered innovation by means of altering the system of staffs' work. The company encouraged a revolution in practices on the way to more transparency, openness, and collaboration, aiding such changes by the platform of Social Network with a sense of business named as Shift(Garcia, 2011). Such changes are stimulating prevailing practices of management, and introducing strategic and creative pitch for all company levels. Just after 18 months of its introduction, these innovative practices produced benefits already in the extraordinary speed and scale. Alike several companies around the globe, during 2011, the economic climate directed CEMEX on the road to strive for standardization and effectiveness, during grim times (Garcia, 2011). Nevertheless, the CEO of CEMEX, Lorenzo Zambrano worried that such an initiative for optimization might leave behind the utmost significant factor of competitive edge, i.e. innovation (Garcia, 2011).
Another change in the global field offered a prospect in this circumstance. The progress of the Internet that included the opportunities which Web 2.0 presented were extraordinary in the collaboration level, which can be attained. Such phenomenon is truly altering the way interaction takes place in the arena of work and social (Stewart, 2015). CEMEX had to become part of The Collaboration Revolution (Garcia, 2011). This might support the company to become more viable and competitive, though hypothetically inspiring and empowering a new worldwide collaboration level which may result in strong innovation (Ghemawat, 2015). This report will discuss various innovations at CEMEX supported by the CEO of the Company, Zambrano and further, it will discuss various challenges faced by the company and ways to deal with such challenges.
Innovations at CEMEX
Zambrano, CEO of CEMEX, expressed several concerns which were addressed by the innovation team, that was created for the same. Zambrano's vision was that the innovation team must inspire a culture of innovation, along with the company's practices and processes across CEMEX, by collaborating all functions and business units (The Economist, 2001). This encouraged the company for new capabilities of business as well as adopting the best practices (The Economist, 2001).
To address key initiatives company-wide, multidisciplinary networks were formed, which was reinforced by the team of innovation. In addition, to lead this initiative, a varied cluster of people from diverse operations, countries and areas, gathered to work in partnership and resolve the challenges and issues that were set by the Executive Committee and CEO. With their planning, formation, as well as collaboration, the team of innovation delivers the backing essential to encourage new practices of collaboration practices for all groups (Garcia, 2011).
Company practices have been changed since 2011, which included inspiring collaboration among all the functions and business units, knowledge leveraging as well as experiencing an occupancy in the multiplicity of the workforce of CEMEX worldwide, also creating new value for its clientele (Garcia, 2011).
With the view of backing this transformation in practices, the company presented a platform of internal collaboration named Shift, which was premeditated to aid in making CEMEX more agile, efficient and innovative, by allowing workforces with parallel ideas to share information, thoughts, opinions, experience, best practices and knowledge (Garcia, 2011). This syndicated the finest elements from widespread platforms of social networking; nonetheless, it is much additional than a mash-up of the content aggregator and Wikipedia, as well as a document repository (Garcia, 2011).
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