Market Entry Report (30%)
This assessment will assess the Learning outcomes:
CLO3- Discuss the business activities applied in an international context.
CLO4- Evaluate strategies for entry into the global market.
CLO5- Recommend strategies for international business operations.
The International Business Project aims to engage students in learning activities where they will apply knowledge gained during the course, and in so doing, work to achieve the learning outcomes. Students must identify and work with a local company (agreed with lecturer) that could expand outside the UAE in terms of globalisation of markets and potential globalisation of production.
Each student mustchoose ONE local company (each student must work with a different company).
Each student must choose ONE country for potential expansion (either from Assessment 1, or any other country).
Students should view themselves as International Business Consultants, preparing a report for the company.
Students should interview company representatives where possible, or otherwise secure accurate company facts.
Students must produce an Individual report of 1,500 words, including the following elements:
? Cover Page & Table of Contents
1. Introduction
o The purpose of the report (explainthe context of the report, why it has been written)
o The main contents of the report (a clear summary of the report findings)
2. Company Background
o Brief overview of the company
o Brief description of current products/services,geographic markets, and production/service facilities.
3. Country and Market Analysis: (LO 4&5.3, LO1, LO3.2). Analyse the suitability of your chosen country into which the company might expand. The analysis should include 10 factors,of most relevance to the business type and the country, across the following factors:
o External factors that make the market attractive (e.g. political stability, free market systems, inflation rates, private sector debt, corruption levels)
o Customer/Competitor based factors that make the market attractive (e.g. Product/service availability to meet consumer needs, level of existing competition, efficiency and value of existing competitors)
o Industry and Business related factors (e.g. Trade barriers, suitable labour force availability, Business core competences, Rate of expansion required/company strategy, Transport costs, Costs of establishment/EoS, Level of centralised control required)
Determine a score for the suitability/attractiveness of each factor (e.g. 7/10) and include a written justification with references for each factor score.
A weighting of relevance of each factor for the chosen company should be included, with justification.
(The information gathered for Assignment 1 may be used here, or students may use a different country.)
4. Marketing mix & Staffing policy
o Formulate a brief marketing mix for the company in the new market noting the need for Standardisation vs. Local Responsiveness (refer to Product/Service features, Place/Distribution strategy, Promotion strategy; Pricing strategy) (LO3.3).
o Identify and justify which HRM staffing policy the company should use (LO3.4).There are three recruitment staffing policy (ethnocentric approach, polycentric approach, Geocentric approach).
5. Market Entry Strategy (LO4&5.3)
o Evaluate the potential suitability (advantages/disadvantages) of each of the six Entry Modes specifically for this company. The entry modes are (exporting, licencing, venture with a local company, turnkey projects, franchising, and wholly owned subsidiary).
o Recommend& justify the best entry mode(s) for this company.http://www.emiratessteel.com/index.php/en/http://www.emiratessteel.com/newsletter/Emirates%20Steel%20Insight%20-%20Mar%202012%20-%20English.pdf