Implementation of CAGE Framework in an Organization-Free-Sample

Question: Discuss about the Importance of strategies, business model innovation and implementation of CAGE Framework in an Organization. Answer: Introduction The purpose of this task is to provide a brief overview about the three video clips which tells about the importance of strategies, business model innovation and implementation of CAGE Framework in an organization. Further in context to the higher education industry these approaches are applied so as to provide better outcome on their working. The industry not only includes universities and institutes but it also includes regulatory and governmental bodies as well. TEQSA, MIT and Australian government department of education and training are the three bodies which explain the approaches and models mentioned above. Further the report successfully justifies all the requirement of the task and more details about the report are discussed below: Strategies implemented in Organization Strategy is an aspect which helps an organization to aim and achieve their targeted goals present in the market. So, it shall be noted that an organization in the external environment can only achieve competence if the strategies defined by the mangers are good and efficient enough which can help them to ace the target market. Furthermore there are some questions which frequently asked the strategy video which are where do we compete, how do we compete, Unique selling proposition of the company and how the company maintains the sustainability of unique value provided. The Tertiary Education Quality and Standards Agency (TEQSA) is an agency which regulates and controls the quality standards of the higher education in the competitive world. Education sector is the sector which shall not work with a purpose to earn income but it shall run to provide quality knowledge and information to the students coming to them. Resulting to which, this body was made to regulate the higher education s ector of Australia (Ho, Wu, and Wu 2014). Although the organization do not need to face any competition in the market but in order to maintain flow of education, the organization needs to implement strategies and answer above mentioned four questions to examine the authenticity of their strategy. Talking about competition, it shall be noted that the organization has no competition but it run in higher education and governs the institutes etc. further the USP of the organization is provide quality assurance of education provided to students in the Australians institution of higher education (Cndido, and Santos 2015). The resources and capabilities available to the company are its rules and code of conduct through which the organization gets the opportunity to regulate other bodies present in the industry. Lastly, sustainability is practiced by the organization through regular flow of work and legislation in industry. The organization properly makes use of resources available to them in order to create differentiation and sustainability as well. Thus, in this way if the TEQSA will maintain and work on their strategy then the organization will not face any problem (Speculand 2014). Business Model innovation Need of model and an innovative tool in the working of a university or institute seems unimportant. But just like other industries, there is need of business model innovation in higher education sector as well. With growing competition an organization only remain in competence if they attain a good and efficient business model. Sustainability in the growth of the university or the organization only achieved if there is effective and efficient model used in the organization (Massa, and Tucci 2013). This model helps the organization to realize the areas where the company is losing and other competitor is gaining and they analyze it and correct it with innovation so that they can gain the target market and earn profit. The innovation tool shall be used in the organization in such a way that it differentiates the company with its competitor present in the market. Thus thee business model lay stress on the factor present in the external which can be innovatively used by the organization s o as to create identification in the target market (Bocken, et. al., 2014). The context to the institutes present in the higher education industry, it shall be noted that the organization, universities and institutes present in this sector need to be regularly updated and innovative in their way of working to attract more student. Furthermore talking about the University of Sydney, the university is a well renowned and famous educational institute of Australia which was originated in the year 1850. The university is Australias first university and also one of the most leading universities worldwide. Having such huge organizational structure the institutes needs to be innovative in its working and initiate authoritative business model otherwise the reputed name earned by the company would not work. So, the company uses this model in such a way that they initially keep check on the business model and compare it with external environment and then implement changes in them according to the requirements (Martins, Rindova, and Greenbaum 2015). CAGE Framework It is a framework which tells about different dimensions present in the external environment of the organization. Cultural, administrative, geographic and economic difference are the differences which happen in between countries and the organization shall initiate actions accordingly by looking at them so that efficiency is initiated. This framework is used by organization to expand their business in the overseas market. The cultural aspect tells about the culture of the company with which they are contracting, administrative tells the ways in which companies of other countries administer (Herrera 2017). Geographic dimension tells about the specifications of that area and lastly economic tells about the economies of people on the basis of which he companies shall initiate their actions. Relating it to the Australian government department of education and training is an organization which motivates more and more students to student with Australian universities. The organization identi fies the cultural differences and analyzes them and then encourages international students to gain education from them. This department helps the students to feel secure as it eliminates the differences and takes care that education is received to them properly. Further the online portal helps many international students to study in Australia. Thus, with the help of this department the bright students get a chance to learn education and the cage framework helps the department to erase the difference in higher education sector and help students to become effective and efficient (Ghemawat 2015). Conclusion Thus, in the limelight of above mentioned events the facts that shall be noted that the above mentioned report tells about the different frameworks and models which are used in higher education industry so as to help them to gain competence in the target market. The higher education industry is not just here to make profits but it shall also contribute to the overall economic growth of the country. So, it is important for such organizations to work with full capability and use all their resources effectively in order to make a change. Moreover the models help the organizations to identify their issues in the organizational structure and implement changes accordingly. Thus, with the help of such approaches the activities of the institutes become competent for the commoner and international students. References Bocken, N.M.P., Short, S.W., Rana, P. and Evans, S., 2014. A literature and practice review to develop sustainable business model archetypes.Journal of cleaner production,65, pp.42-56. Cndido, C.J. and Santos, S.P., 2015. Strategy implementation: What is the failure rate?.Journal of Management Organization,21(2), pp.237-262. Ghemawat, P., 2015. From International Business to Intranational Business. InEmerging Economies and Multinational Enterprises(pp. 5-28). Emerald Group Publishing Limited. Herrera, M.E.F., 2017. Contrasting the strategic role of firms in the economic development of Ecuador with that of South Korea using Ghemawat CAGE distance framework. Ho, J.L., Wu, A. and Wu, S.Y., 2014. Performance measures, consensus on strategy implementation, and performance: Evidence from the operational-level of organizations.Accounting, Organizations and Society,39(1), pp.38-58. Martins, L.L., Rindova, V.P. and Greenbaum, B.E., 2015. Unlocking the hidden value of concepts: a cognitive approach to business model innovation.Strategic Entrepreneurship Journal,9(1), pp.99-117. Massa, L. and Tucci, C.L., 2013. Business model innovation.The Oxford handbook of innovation management,20, p.18. Speculand, R., 2014. Bridging the strategy implementation skills gap.Strategic direction,30(1), pp.29-30.