The conditions which would support the change of foundational business practices.

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Assess the conditions which would support the change of foundational business practices.

Redman (2019) states that the world is changing quickly, change is hard, and many change efforts fail. A leader must have a good plan in place to navigate through these changes to stay successful. Now you will apply that knowledge to a company scenario, building in an implementation plan into the process so it is actionable. Select one business from the current winners from any of the categories in the Great Places To Work list. Assume that you are the new CEO of this business who has goals of expanding your business. You can select one or more from the following list, or develop your own goals:

Expand nationally or internationally
Change your business offering(s) or target customers
Merger or acquisition
Another goal of your choice
Select a company that you have not used for another assignment. Practicing with more than one company will give you greater insight into how the processes you use may need to be tailored to the company or industry differences.

For this 6- to 8-page APA-compliant paper (not including title and reference pages) respond to the following:

Section 1 – Overview and Goal Description

Select the company that you will use for this paper. Provide an explanation and rationale for your choice. As there are many categories in the Great Places to Work website, you may want to explore an industry you know well or look to expand your knowledge by selecting an industry you are unfamiliar with.
Describe the vision, mission, and values as individual components in the current state of the company. Explain the systems relationship of these elements, and how they are related to help the company achieve success.
Provide any additional background information to provide additional context.
As the new CEO, identify the growth goal(s) that you would like to achieve including a rationale for this choice(s). Present any research and due diligence you have conducted on the efficacy of this goal, i.e., competition who have achieved/failed at this goal, possible Return on Investment (R.O.I.) or impact on company productivity or effectiveness.
Section 2 – Mission

Sample Solution

Company Selection: HubSpot

Rationale: HubSpot, a leading customer relationship management (CRM) platform, was selected for this analysis due to its rapid growth, strong market position, and potential for further expansion. The company’s alignment with inbound marketing and sales methodologies, combined with its focus on customer satisfaction, makes it an ideal candidate for exploring strategic growth opportunities. HubSpot’s strong brand reputation and existing customer base provide a solid foundation for scaling the business.

Vision, Mission, and Values

Vision: To create a world where every team is a growth team.

Mission: To help businesses grow better.

Values:

  • Customer obsession
  • Openness
  • Teamwork
  • Growth mindset
  • Integrity

Systems Relationship and Success: HubSpot’s vision, mission, and values are interconnected and mutually reinforcing. The customer-centric approach, fostered by the value of customer obsession, directly supports the mission of helping businesses grow. Teamwork and openness facilitate innovation and problem-solving, essential for achieving the vision of a world where every team is a growth team. The growth mindset encourages continuous improvement and adaptation, which is crucial for sustainable success. Finally, integrity builds trust with customers, employees, and partners, enhancing the company’s reputation and overall performance.

Additional Background Information

HubSpot has experienced significant growth since its inception, expanding its product offerings beyond CRM to include marketing, sales, and service solutions. The company has a strong track record of acquisitions and partnerships, demonstrating its ability to adapt and scale. HubSpot’s emphasis on customer success and employee satisfaction has contributed to its reputation as a great place to work, which is essential for attracting and retaining top talent.

Growth Goal: International Expansion

Rationale: Given HubSpot’s strong market position in the United States, international expansion presents a significant opportunity for growth. The company has already established a presence in several countries, but there is substantial untapped potential in regions such as Europe, Asia, and Latin America. Expanding globally would enable HubSpot to reach a broader customer base, diversify revenue streams, and strengthen its brand position as a global leader in CRM.

Research and Due Diligence: Several companies have successfully expanded internationally, demonstrating the potential for significant growth and increased market share. For example, Salesforce, a direct competitor to HubSpot, has a strong global presence and has achieved substantial revenue growth through international expansion. While international expansion involves challenges such as cultural differences, regulatory compliance, and competitive landscapes, the potential rewards outweigh the risks for HubSpot.

Potential ROI and Impact: International expansion is expected to generate substantial revenue growth and increase HubSpot’s market capitalization. By entering new markets, the company can capture a larger share of the global CRM market and reduce dependence on the U.S. market. Additionally, expanding globally can lead to increased brand awareness, customer loyalty, and employee engagement. While the initial investment in international expansion may be significant, the long-term benefits are expected to far outweigh the costs.

 

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