Reference no: EM132784344
Overview
In this course, you have explored the elements of a market profile, including cultural, political, and economic aspects, and looked at the legal and regulatory market considerations. In this milestone, you will complete the next part of your course project by creating a market profile for your chosen country and creating legal and regulatory considerations.
Scenario
You are a business analyst working at a small, domestic organization that produces high-quality baseball bats. Your organization has begun to see its sales flatten in the domestic market. While the organization is not losing money, leadership would like to explore options to continue to grow. One option that leadership has noticed competitors attempting is entering international markets.
You have been asked to examine the benefits, drawbacks, and key considerations for your organization to enter one of the global markets below and summarize your findings in a business brief for leadership.
Continue to use your selected market from Milestone One. As a reminder, the options for international markets are:
- Republic of Korea
- Canada
- Germany
Prompt
In this milestone, you will continue to use the Business Brief Template.
Specifically, you must address the following rubric criteria:
Market Profile: Explore and explain the cultural, political, and economic environment of your selected market to help inform future business decisions regarding expansion from the domestic market.
Cultural Profile: Compare and contrast important cultural elements of your selected market against those in the domestic market, including communication, dimensions of culture, attitudes, common business etiquette and practices, and at least five other important aspects of culture.
Political and Economic Profile: Compare and contrast important political and economic factors for your selected market against those in the domestic market, including political systems and ideologies, current leaders, economic measures or characteristics used in classification, and government intervention on trade.
Market Considerations: Discuss the legal and regulatory considerations in your selected market that can impact business decisions regarding expansion to new global markets. You should also consider corporate social responsibility for each market consideration.
Legal and Regulatory Considerations: Compare and contrast important legal and regulatory requirements of your selected market against those in the domestic market, including trade restrictions, regulations of products or services, legal processes for business transactions, and import restrictions or documentation.