What are the beliefs of Mrs. Cheung in respect to developing and expanding the business? With an aim of developing as well as expanding business operations, Mrs. Cheung believed that Savvy Business Strategy (SBS) is one of the suitable ways for ensuring business success. In this regard, it can be stated that Savvy strategy signifies time management, accountability and implementation of business actions in a more effective manner that help an organization to expand significantly.
In this case, implication of savvy strategies helps an organization to schedule its daily operational plan in a more delegate manner. Apart from that, through implication of this particular strategy, it is possible to establish good relations between the workforce as well as management that help an organization to enhance its overall productivity by reducing the involvement of time (Arregle et al., 2013). In addition, Mrs. Cheung believed that adoption of savvy strategies help an organization to accomplish its predetermined goals by evaluating employees’ performance and on the regular basis.
Moreover, Mrs. Cheung believed that their organizational expansion has been affected over the last few years, due to the causes of global economic turmoil. In this context, Mrs. Cheung believed that through emphasizing towards the resultant economies of scale, an organization can increase its profit market, which can be applied in their organizations for business expansion purpose. In addition, Mrs. Cheung believed that through emphasizing towards allocation of further capital, an organization effectively reach its optimal productivity (Arregle et al., 2013). In this case, incorporation of Savvy strategy helps an organization to grow faster and it also help organizations to improve its rate of productivity by enhancing sales volume.
In addition, Mrs. Cheung believed that through negotiating favourable contracts with varied shipping companies, the organization can enhance its export business operations. Moreover, Mrs. Cheung believed that through accumulation of debt, an organization can effectively enhance its cash flow, which helps to increase rate of asset growth. Additionally, through concentrating on innovations in the process, an organization can significantly enhance its effectiveness of business operations (Arregle et al., 2013). In this context, application of flexible configuration in case of equipment and machinery can help MNEs to enhance its productivity.
Consequently, Mrs. Cheung also assumed that through establishment of strong relations with the suppliers of raw material, their firm can successfully resolve its manufacturing operations associated challenges. On the other hand, through building relations with raw material suppliers, an organization can mitigate its current business associated challenges for upcoming future and it also ensures long term sustainability of the firm within the operating industry. Simultaneously, incorporation of these above discussed strategies can help MNEs to enhance its competitive advantages within the strong rivalry market situations.