International Business Essay
Objectives of the project The key goal of doing this project is to find out a most suitable market for an Emirati company’s product. This goal is fulfilled in three SECTIONS. 1 – Market Intelligence section Choose a 6 foreign countries where the Emirati Company shall launch its product. Do not choose only one single country as part of the analysis in this section. Analyze Political, legal, economic and environmental conditions of these countries. Give your suggestions and analytical view why you finally choose one country out of others. This first section results in a Market Intelligence Report for the countries that you intend to analyze before selecting the best market. This section provides a broad overview on all the countries including its people, economy, and infrastructure and limits down to one best potential market. Chapters – 1, 2, 3 and 10 2 – Environmental (Social and Cultural) Analysis section This second section requires a Business Environment Analysis Report for the product in the ONLY country that has come up as the best potential market from the section one. You should have figured out this market after filtering the less potential markets from the section one. It involves analyzing the social and cultural environment of the country and evaluating key national characteristics that may affect the marketing and purchase of this product. Chapters – 4 3 – Market Entry Strategy Analysis This third section requires a Market Entry Strategy Analysis for the identified product in the country being researched. The strategy formulated must reflect prevailing business conditions in the country. This means that entry mode that matched the business environment of the country and the profile of the consumers should be selected. am attaching the needed chapter and an example of the final table(filter) you have to rate the weight of each criteria for each country you choose from (1-25)on a scale . The most important thing is : you should provide me with the exact reference for each piece of information .
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Section 1: Market Intelligence
The six foreign countries wherein the Emirati Company can launch its product include: China, United States, North Korea, Iraq, Mexico and France. Political environment: China is a communist nation with a stable government, and the government is a democracy. Although China has a free market, it relies to some extent on government controls. China has not had any political conflicts or instability for many years now (Dobbs, Leung & Lund, 2013). The United States, Mexico and France also have stable governments, and hence their political environments are business friendly. These three rely on free market, and they have democratic governments. North Korea is ruled by a dictatorial leadership, the country relies on government controls, and the existing government is not stable. Although Iraq has a democratic government, there is political instability because of conflicts going on in the country. Legal environment: China being a communist nation has bureaucratic law as the legal system. The legal systems in France, Mexico and the United States apply common law which is basically based on the wisdom of judges on individual cases. Iraq is an Islamic nation which applies religious law that is basically based on the officially established rules that govern faith and practice of the Islam religion. North Korea also applies religious law (Florenthal, Xu & Yagi, 2013).
Economic condition: With a Gross Domestic Product (GDP) of $16.8 trillion in 2013, the United States is the largest economy globally. The country has a mixed economy and it has maintained a stable overall growth of GDP. The United States has a huge market given that it has a population of over 310 million people. China is growing very fast economically; it has attained remarkable GDP growth partly through greater integration into the global financial and trading systems. With a GDP of $8.227 trillion, China is the second largest economy in the world. With a population of over 1.2 billion, China has the world’s largest market (Warden et al., 2013). France also has a stable and favorable economic condition. Its GDP of $2.6 trillion makes it the sixth largest economy globally and is a high income country. The economy of North Korea is generally a rigid centrally planned system, but the role of market allocation schemes is restricted. With a GDP per capita of $1,800, it is one of the least developed and poorest nations of the world. In Latin America, Mexico is the second largest economy and 14th largest globally. The economy has experienced stable growth for over a decade. Iraq has a weak economy that is heavily dominated by the oil sector. The U.S, China, France and Mexico all have excellent transport and communication infrastructure. Iraq and North Korea being less developed nations have poor infrastructure.
Environmental condition: the United States and France have put in place strict policies and regulations that help to prevent environmental pollution. China has serious environmental crises; the river that supplies drinking water to Shanghai is polluted, and the air pollution in Beijing is too much. This might imperil the country’s economy yet the government of China is silent about it (Murray, Ju & Gao, 2012). Mexico is facing pressing environmental challenges that affect virtually each section of the economy. It is notable that air pollution in Mexico City sent over 1 million individuals to hospital in the year 1999. Environmental condition in Iraq encompasses water pollution and forest degradation which are attributable to insufficient controls. Iraq has several environmental issues relating to climate change and drought conditions, as well as previous military conflicts (Dobbs, Leung & Lund, 2013). The country that is finally chosen is China. This is primarily because it has the largest ...