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Concepts and Principles of International Managementmodule

Example of assignment

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This is an example of assignment for the Concepts and Principles of InternationalManagement module assessment. It is provided only for information and may not be

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Report on Israel Chemicals Limited (ICL) and their UK operation, Cleveland PotashLimited (CPL).

Terms of ReferenceThis report serves as an analysis of the Israeli based ICL. The focus of this report will be theUK based CPL an extraction, manufacturing and distribution site. The report will firstlyestablish the history of ICL and CPL before discussing ICLs current circumstances andsituation, making specific note of CPLs position within the ICL portfolio. Elements of thissection will include ICLs (and subsequently CPLs): performance, markets, competitiveadvantages, financial status, management systems/styles and development plans/aims.Further analysis will consider: the impact of globalisation and efforts taken to ICL to beglobal, how it entered the UK and consideration it had to make as an Israeli company. Thisreport will finish by giving recommendations on how ICL can improve and move forward inthe UK.

Initial Analysis: Company Profile

Through participant observation the writer has gathered that currently, around xxx of ICLsworldwide production is in Israel, majoritaly from the Dead Sea and Negev facilities whichproduce: potash, bromine, magnesium and other products. The remaining xxx of productiontakes place outside of Israel through major subsidiaries such as: CPL (UK), Iberpotash(Spain), Amfert (The Netherlands) and BK Guilini (Germany). Other minor facilities aremaintained in France, China, Chile and the USA.

CPL, the focus of this report, is a mining operation in England, established in 1972. It is theUKs only potash mine and the largest single mining operation in the UK. The company, atthis location, has permission to mine an area of around 42,400 hectares.

There are two main sites to the operation: the mine and surface plant located at Boulby, andthe shipping terminal on Tees Port. CPL sells 3 types of product: Red, White and Salt. Themain purchasers of Salt (NaCl) are the internal UK market, USA strategic sales and France.The Red products are variations of Potash (KCl); these products are mainly sold to thecontinent and Brazil as strategic sales. The White products (refined KCl) are mainly used inGermany.

Although the mission statement and corporate aims of the organisation are not listedpublicly, plans and strategies that are can be summarised as efforts to Build on ICLStrengths (ICL, 2012) which are: global market access, innovation and development oftechnology and financial solidity - to be achieved by continuing the level of stewardship inthe organisation and fostering growth both naturally and through acquisition.

Company History:

ICL formed as a conglomerate of two existing organisations within Israel. It began as beenstate owned, similar to large portions of Israeli industry at the time. Over the course of the1970/80s, ICL expanded its operation and through governmental backing grew substantially,diversifying its operation. In this period, ICL made its first international venture, acquiring BKGuilini, a chemical manufacturer based in Germany. Its second international venture, theacquisition of Amfert, established ICL in the Europe, incorporating two manufacturing basesand several sales offices, as detailed by FundingUniverse (2003).

ICL then developed a strategy to become more of an integrated producer (Wright andGallun, 2008), using acquisition to vertically integrate the supply chain, from raw materials tofinished products, a concept discussed by Miltenburg (2005). This repositioning wasfollowed by privatisation and listing on the Tel Aviv Stock Exchange in 1992. The floatation

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on the TASE left ICL as majority stakeholder, seconded by the investment firm IsraelCorporation, leaving the government as a minor stakeholder. ICL continued to expand itsoperation through acquisitions in Europe and minor joint ventures in developing countries.The controlling stake in ICL at this point was held by Israel Corporation, to prevent ICL beingpurchased by its main rival Potash Corporation Saskatchewan (PCS). Recent actsundertaken by ICL were to acquire the largest potash producer in Spain, and purchase CPL,not only enhancing ICLs international profile but also signalling the restructuring of ICL to bea global entity.

Financial status:

ICL, in 2011 reported revenues of xxx worldwide, up by xxx on the previous year andalthough cost of sales had increased, margins still significantly improved (BloombergBusinessWeek, 2012). ICLs 2011 financial statements, available on Reuters (2012),suggest that cost control has remained leading to a Net Income of xxx. The UK operationaccounts for around xxx of these sales, a consistent figure for several years, the writeridentifies through participant observation. Available information points to ICL beingfinancially strong, operating around or above the expectations of the industry (Bloomberg

BusinessWeek, 2012) with CPL featuring as a profitable branch.Employee information:

ICL employs xxx as of the 2011 report completed by CorporateInformation (2012). Theseemployees are sourced from backgrounds and disciplines, the vast majority working withinone country. CPL accounts for around xxx of these employees, working in generaladministration/management and the extraction, manufacturing, distribution departments. ICLoperates by arranging executives in a flat management structure (Daft and Marcic, 2011),with functions set up as mechanistic i.e. particularly hierarchical and departmentally rigid(Gitman and McDaniel, 2008).

Management systems:

As a result of its history in the UK, mining is one of the most heavily regulated industries inthe world. Mining legislation is prescriptive and the writers participant observance can attestthat CPL has a strict administrative practice, enforced by the HMI. In addition, ICL/CPL hasachieved several further standards to show its dedication and capability to operate withinsafe practices, with the highest level of quality in production, supply and regard for theenvironment (ISO, 2013).

Performance and markets:

ICL is currently the fifth largest potash producer in the world and second largest in WesternEurope. It is also one of the worlds leading producers of other products e.g. bromine andmagnesium. Statistics provided by FundingUniverse (2003) suggest ICL is responsible for11 percent of total world potash production and 35 percent of world bromine production.

ICLs market is global as its products, discussed above, are traded internationally andrequired in a variety of industries for a range of purposes. Even so, there are still severalareas that provide a more prolific market. These are Western Europe (predominantly),Brazil, India and China. The latter three countries identified represent three letters of theBRIC acronym (ONeill, 2001) and are countries growing rapidly and becoming worldeconomic leaders. In terms of CPL, the market is more specific as sales are derived mostlyfrom Western Europe. The largest markets after the UK internal sales are: France, Spain,Germany and The Netherlands. As a result of geographical location and CPLs position todistribute, other markets include Brazil and the USA as strategic sales made by the ICLgroup.

Competitive advantages:

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requires that there is an integration of the infrastructure, which may prove troublesome andcostly (Peng, 2009). From a commercial perspective, consideration was in whether theimproved distribution network gained was more important than their ability to customise intheir current network. In summary, considering these factors holistically shows the globalpressures greatly outweigh the localisation pressures in ability to compete internationally,given their circumstances, making the purchase of CPL (UK entry) an effective decision.

Further support for this argument is provided in the outlining country choice and relatedstrategic importance. As a direct impact of global markets, ICL had make selections basedon remaining able to competitively distribute worldwide. CPL, being based in the UK offeredICL with a sourcing country (Lasserre, 2007) giving it access to a wider manufacturing,sales, distribution and raw materials base, heavily increasing the strategic importance of theUK to ICL. Strategic importance of a country can be measured across four elements:market, resources, learning and competitiveness (Lasserre, 2007). In ICLs country choice,all four aspects were applicable in varying degree but most relevant were the resources i.e.raw materials and distribution network, and competitiveness (presence in the region andaccess to others) gained by being present in the UK.

Global Strategy:ICLs aims to be a Global Player aspiring to establish a sustainable competitive position inthe key markets of the world (Lasserre, 2007, p. 38). Part of any global strategy for anorganisation is global positioning, a term used by Morschett et al (2010) to represent whichmarkets an organisation focuses on, how it serves markets and how it is competitive in thatposition.. Through participant observation, the writer has gathered that ICL chooses itsmarket classifications based on segments, revealing a focussed approach (Porter,1985) onlyconsidering a few customer segments and even given their relative size, uses astandardised approach (Griffin, 2008) treating segments without regard for geographicallocation or other adaptive qualities (Israelite, 2006). This is made possible because thevalue attributes - elements of the products or services that the customers value whenmaking their purchasing decision (Lasserre, 2007, p.44) are similar across customersegments. The sum of which suggests that ICL is operating as a standardised nichedifferentiator (Lasserre, 2007, p.45), an appropriate position when considered against theassets of the organisation and the wider strategy employed.

In further support of the above argument, positioning must reflect required market accessfor a Global Player strategy and it does, in its choices of country entry. For its majormarket, Western Europe, it has a key country in Germany and a platform country in theNetherlands. To attempt to remain well positioned, it has facilities in an emerging country,China with strong trade links to others such as Brazil and India. The terms used categorisethese countries are offered by Lasserre (2007).

The strategy of an organisation is always dependant on its design and ICL is no different.

Design is primarily based on three key areas (the former usually informing the latter), thestructures, processes and organisational culture inherent (Hill and Jones, 2012).Furthermore, for a global organisation, such as ICL, incorporating competitive advantages(discussed above) and any adaption to local requirements that is necessary. ICL hasfollowed a standard developmental path in reaching globalisation beginning with export,moving to multinational operation and finally becoming global, integrating services, functionsand products worldwide, to standardised markets. As ICL grew through acquisitions, itbegan to build a global business system (Lagerstrom and Andersson, 2003) but allowedacquired companies, for the most part, to retain their names and business autonomy, notnecessarily gaining the greatest benefit from leveraging local knowledge to a global level(p. 84). This is no longer the case and currently, CPL operates as part of the FertilizersEurope division, which in turn is part of the world functional global hub structure (Lasserre,

2007, p.55) which should demonstrate the following characteristics:

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-Centralised strategic decision-making. Using knowledge developed as a participantobserver, the writer can suggest that for ICL, this is only partly consistent as certain levels ofstrategic decisions are afforded to subsidiaries like CPL, drawing on localised expertise.

-Functional management within subsidiaries. The UK subsidiary demonstrates this aspectvia the corporate website (ICL, 2012) that that shows each function, even those which are

global has representative management.-Careers are globally managed (expatriates). Again, utilising participant observation thewriter can suggest that some executive internal promotions have been managedinternationally but other careers, as a result of a lacking in the overarching global functionsarent managed as such.

This design effectively supports ICL in developing to being a Global Player by creating thefollowing efficiencies. The allowance of rapid transfer of information and know-how and theutilisation of global functions to create coordinated activities, reducing wasted effort inproduction, sales and distribution through group wide sharing, concurrent with thetransnational model, developed by Bartlett and Ghoshal (1999). Interestingly, none of thetypical disadvantages, outlined by Lasserre (2007) are realised by ICL in its UK operation

(CPL) as there is very little change in the targeted market, therefore requiring less flexibilitythan other industries may.

Entry Strategies:

Entry strategy, as discussed by Lasserre (2007) is comprised of three decisions, the firstbeing based on the same factors as country choice it is a continuation towards operating in acountry. When referring to these factors in terms of entry strategy they are discussed aspertaining to objectives by John et al (2002) an example, from the evidence above, is thatICL required access to the critical resources at CPL, the operational asset being the mine.A further objective, again, discussed above, is termed as co-ordination by Lasserre (2007)and relates to ICLs desire to increase its infrastructure, taking advantage of the UKslocation.

The second decision is the timing of entry (p.191) which considers whenan organisationselects to enter based on opportunities and risks associated. It is heavily affected by theresults of the previous decision for as differing objectives require different actions to be met.In any case, the timing of entry is dependent on the window of opportunity (p.194) and therisks the organisation is willing to take. As ICLs outlined objectives are primarily resourcebased, the window is restricted to whenever the rights to access are available, i.e. when theowner is selling. The traditional phases associated with the window of opportunity (Lasserre,2007) are not fully applicable in this case, as CPL is unique in the UK, but if considered aspart of a European operation then it could be argued that ICL moved in the competitivegrowth phase (Lasserre, 2007, p.194) which would have been highly risky were it not forits substantial resources.

The third decision, reliant on a composite of previous decisions and requirements of anorganisation, considers how to enter a country. The requirements in this case considersfactors such as country risk, internal capabilities and returns on investment leading to achoice between, wholly owned subsidiaries (WOS), acquisitions, mergers and joint ventures(JV). Although there are other possibilities, they are not realistic under the circumstances(Lymbersky, 2008). ICL historically has chosen acquisition, the method also used inentering the UK a seemingly sensible choice given ICLs capabilities and the advantages ofthis method. Acquisition gave ICL immediate access to CPLs resources, assets andcompetencies at a price (50m) that was less than establishing an operation from scratch.ICLs industry is recognised as involving huge start-up with lengthy lead times further addingto the risk, which chief among the disadvantages in a WOS (Otto, 2010), especially when

other arrangements are available. A merger or JV ceases to be viable due to the investmentcapabilities of ICL, as it would not have gained any of the increased benefits usually seen in

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merging or JVs over acquisition. Furthermore, the typical issue in acquisition of culturalintegration was lessened by the similarities in the cultures as discussed later in the report.

Cultural Management Assessment:

The following section is an assessment of the UK in terms of country fit with Israelincorporating management and other cultural factors that affect entry to the UK. The UKeconomy has been steadily growing for the past 50 years and a result enjoys benefits suchas, high GDP per head, (Porter, Ketels and Britain, 2003), and a skilled workforce.Furthermore the UK is known to favour free enterprise and private ownership (Gamble andKelly, 2001), initially a driving force behind the European common market and stillfunctioning as a backbone of the system (Smith, 1999).

Whenever considering country fit it is essential to understand the established businesspractices of a country, noting that the factors discussed are in the context of national culture,and may only apply in certain degrees to a particular organisation (Kitchin, 2012). Inrelation to UK, the following aspects are particularly relevant:

-Attitude to hierarchy which according to Hofstede (2001) is the measure of how easily a

culture accepts uneven power distribution. Trends suggest that democratic countries tend tohave lower power distance (Crawford and Lok, 2004). The UK upholds that trend with arating of 30%. The extremely low power distance score of Israel (11%) makes it almostlikely that in business the two nations are compatible as, management systems are similar(Laurent, 1986 in Lasserre, 2007).

-Attitude to the individual. Dorfman et al (2004) in their GLOBE structure, suggest that acountrys standpoint is either: individualist (primarily concerned with themselves) orcollectivist (primarily part of a group). In Hofstedes (2001) rating, the UK score above 80%,showing high individualism. This rating is much higher than Israels but their score of 54% issuggestive that to a lesser extent they share the sentiment, allowing for the assumption that

it may not create a clash.

-Attitude towards risk, described by Schwartz (1994) as mastery, considers how well acountry tolerates uncertainty. A country such as Israel (81%) with high risk avoidancedislikes the idea of ambiguity, whereas the UK (30%) thrives on the potential in the situation.An issue is likely to be created in risk analysis as countries with low uncertaintyavoidanceattach a higher utility to the rewards (Noorderhaven et al, 2007), an Israelinaturally preferring to risk small amounts thus incurring smaller losses (Hampden-Turnerand Trompenaars, 1998). At least Hall (1960) would theorise that this disagreement wouldbe verbalised by these two nations and therefore most likely resolved.

EU regulations (Craig, 2008) make acquisition UK businesses relatively simple as there is no

requirement for governmental ownership, an issue ICL may have faced in other countries. Afurther consideration, language is a major issue in cross-cultural management, especially asthe UK is notoriously mono-linguistic but all children in Israel are educated in English and,luckily, it is the Lingua Franca in business. From a societal angle, Hausmann, Tyson andZahidis (2008) assessment of the two countries show they fair similarly in their attitudetoward gender equality. Both scored around 0.7 overall in the above authors 2008 gapindex suggesting their attitudes, mostly, will be the same and continued in business practice.

Recommendations:

Considering the above analysis of ICLs operations and its UK operations, several

recommendations for progression are apparent based in: further development/integration ofglobal functions, and global representation of activities. Currently, although part of the

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European and Global fertilizers section, The UK operation, like many others is only attachedto the global HR function in terms of the reports it makes under ICL corporate rulings, thewriter draws of knowledge from participant observation. One issue presented is thatrecruitment and selection only take place at a subsidiary level. A recommendation would befor ICL to further integrate CPL (and other subsidiaries) into a global HR function to takeadvantages of the following factors. ICL would be able to ensure its UK operation was in-line with the overall strategic vision of the organisation by utilising global or expatriatemanagers specialising in development of organisations to improve the strategic capabilitiesof ICL as a whole (Bartlett, Doz and Hedlund, 1990). A criticism of this approach is that fullintegration will remove the capability of CPL to adapt on a local scale (Joynt and Morton,2000) but development of management to appreciate culture allows localisation to remainand should develop more capable global managers (Caligiuri, 2006), considering that ICL isa global organisation. Full integration of the HR function allows for the development ofsynergies that do not currently exist at CPL and may provide a significant cost saving.

The second point above refers to the marketing aspect of global strategy and corporatesocial responsibility (CSR). Marketing has not been mentioned previously in this report asthere is little evidence of its existence at ICL, hence the recommendation. On a global scale,

CSR deals with ethical considerations for an organisation which are informed by theprevailing legislation, culture and practices of a country (Lasserre, 2007). ICL publish a CSRreport that considers the entire organisations activities in three parts: industry, society andenvironment (ICL, 2011) which is available on the company website. The recommendationof the writer is that this publication be the focus of a marketing campaign in its Europeanoperations, including the UK. This will improve the corporate image of ICL, currentlystemming from a social development in this region that leaves industries, such as miningand manufacturing with a poor reputation, requiring them to demonstrate efforts to besustainable in the long term (Kleanthous and Peck, 2005). This development has reachedthe point where Western European societies, including the UK can enhance or destroy anorganisation with ethical consumption (Co-op, 2011). This phenomenon is not limited toprivate sales but extends to B2B sales as customers of ICL have the same obligation in theirsupplier selection. Long term implications are that wider international sales are affected;suggesting that to remain a market force ICL will have to publicly incorporate its CSR inpresentation of the company.

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