Reference no: EM13278970
Analyzing International Competitors
1. POTENTIAL COMPETITORS
Identify companies that:(a)have business activities similar (or related) to the business opportunity that you are proposing; and (b) operating in a country (or countries) you are considering for your international business enterprise.
2. COMPETETIVE ADVANTAGES
Discuss competitive advantages of these companies. (For example some companies may gain a competitive advantage as a result of access to raw materials, others may gain an advantage through the use of technology for production and distribution or as a result of a well-known brand name.)
3. INTERNATIONAL STRATEGIES
Compare the international business strategies of these companies. Do these companies make use of standardized products and operating policies? Or, do they use a strategy that is adapted to various foreign markets? (Film is sold in standardized formats around the world while laundry detergents are adapted to clothes washing habits and water hardness.)
4. Interview people who work in similar companies, related industries, or potential suppliers for your business idea. Obtain the information about the product of service that might enhance your knowledge of this type of business.
5. As online operations increase, companies seek new expanded markets and additional business activities. Describe situations in which competitive environment has changed as a result of e-commerce activities.
Prepare Summary
1) A discussion of potential competitors and their global business activities
2) Prepare a synopsis of global business strategies that could create competitive advantages.
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Analyzing international competitors-potential competitors
: Identify companies that:(a)have business activities similar (or related) to the business opportunity that you are proposing; and (b) operating in a country (or countries) you are considering for your international business enterprise.
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