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What are the recommendation you would tell for those who wants to expand their business internationally?
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- What are some reasons why you would expand your company internationally as well as the risks that could happen?You are a successful entrepreneur operating a local business for the last five years in your chosenindustry. Since your business has grown over the years you have now decided to take your businessoverseas and are considering two options. The first is to enter another Asian country with yourproduct/service and the other is to enter a country in Europe. Choose ONE of the two chosen countries and the organization above, explain how thefollowing international business theories can be used when making the decision to gointernational? Please include the limitations of these theories and how they can impact internationalexpansion. 1. Raymond Vernon’s product life cycle2. John Dunning’s eclectic theory3. Porters Diamond model4. Johanson and Vahlne’s Uppsala model5. Hofstede's cultural dimensions theory modelWhat do you think are the importance and benefits of having an effective strategic plan for any tourism and hospitality business?
- Who are the local companies that have successfully expanded abroad? Why do the two companies trade internationally? You may retrieve information from thenewspaper (prints or online editions) to provide supportto your interpretations.You have been hired by a company to lead its local and international expansion efforts. Considering that the company already has products which its markets on a small scale locally, it has become imperative that it makes additions to its current product variants, as well as promote these new and existing products in markets other than its existing markets. Propose four relevant strategies and the key marketing mix decisions you have to make in achieving its expansion objectives.What is a franchise? Using a real case of a country and brand, describe the main characteristics of this method of entry into a new market and the main risks that must be taken into account?
- How to elaborate the points as below: Entry Mode Advantage Disadvantage Exporting The business can choose his representative in the foreign market. This also helps the business to test if its product will be a success For physical business, this is a costly strategy. A lot of research for the representatives has to be done. Licensing The company can get vertical integration without heavy capital investment. The company will not have control over the use of its intellectual property by the Licensor. Franchise This is a low cost strategy and the franchisee has the knowledge of the local market. This is a source of passive income. There is less control over the operations of the franchise partner. The franchisees can learn from your business and become competitors in future. Joint Ventures The business can leverage the expertise of the joint partner. Transfer of technology and assets is easier. Internal clashes can happen sue to changes in culture…Why don’t companies use the same strategic planning processes for their international business activities as for their domestic operations?You are a consultant to a small size Company engaged in Halal Food Products. The company is interested to expand its business to Europe and North America. Prepare a business report focusing on the business potential. Also, give advice on the entry mode and external risks if the decision is made to do business in the Europe and North America.
- You are a successful entrepreneur operating a local business for the last five years in your chosen industry. Since your business has grown over the years you have now decided to take your business overseas and are considering two options. The first is to enter another Asian country with your product/service and the other is to enter a country in the South American market. As an initial fact finding exercise you have decided to carry out a detailed analysis of the macro economic factors facing ONE of the two chosen countries. Based on your study prepare a report on your findings.Question 1Based on the above scenario, you are requested to study all the PEST factors:i. Political and Legal factorsii. Economic policies (trade policies, foreign exchange controls, financial markets) iii. Social, Cultural factors (Values and beliefs that directly or indirectly have an impact on your product or service) iv. Technological factors,v. and Ethical business practices that prevail in the market…Can you give me some ideas of what industry i should use for my global venture assignment? The assignment is below: Research and select the industry you want to write your global business venture marketing plan about and describe that venture in sufficient detail to be understood in a business context by the reader. This can be a new or existing company, product, or service, but your goal is to launch some type of innovative business, product, or service either as an original new business or as an original part of an existing business or organization (see project instructions). Frame this discussion using the 5-C model presented in Figure 2.2 on page 34 and related textbook discussion. The more elaboration you present in this post, the more likely you are to exceed expectations grade-wise. (2) Conduct a situation overview analysis for your proposed business venture using Figure 2.8 (p.44) and related textbook discussion. Include an analysis of all macroenvironment variables…Why do some companies become global while others remain local or regional?