Border Joint Venture Case Homework Response Bw9

Need a response to the discussion post

Review the CIBC Mellon:
Managing a Cross-Border Joint Venture Case Study found on page 219 in your
textbook and respond to the following:

·Compare and contrast strategic
controls and financial controls. Provide specific examples of how each may be
used to best serve a corporation.

·As a strategic leader,
determine if you would feel ethically responsible for developing your firm’s
human capital and state why. Discuss whether or not you believe your position
is consistent with the majority or minority of today’s strategic leaders.

Be sure to respond to at
least one (1) other student.

Based on the textbook these are
the definitions of the terms given:

Strategic control are largely
subjective criteria that is intended to verify that the firm is using
appropriate strategies for the conditions in the external environment and the
company’s economic advantages. This is a long-term goal that focuses on
strategies that is best fit for the company and will allow them to maintain
competiveness within the industry. An example of strategic control would be if
you worked for a clothing company and they wanted to make adjustment to a
current product they sell then they would have to look at all aspects of the
change being made. They want to make sure they come up with strategies that
will benefit the company and their customers will enjoy the newly made product.

Financial controls are largely
objective criteria used to measure the firm’s performance against previously
established quantitative standards. These are short-term financial goals that
are set specifically for the corporation’s structural model. An example of
financial controls would be reviewing previous financial records within a
corporation and also looking at their competitors. This allows the company to
gauge the financial aspects of the market.

A strategic leader is ethically
responsible for developing a firm’s human capital. Also, it is someone who
shows an immense amount of leadership skills and is able to provide guidance to
their team members that benefits the company. Building human capital within a
company is important because it allows a company to utilizes strategies that
are needed to be successful.

Hitt, M. A.,
& Hoskisson, R. E. (2015). Strategic management:
Competitiveness & globalization: Concepts & cases.
Boston, CT: Cengage Learning