You are a business analyst working at a small domestic organization that produces high-quality cell phone cases. 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 growth. 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 to summarize your findings in a business brief for leadership.
Select one of the following international markets to use for your course project:
- South Africa
- 3. Market Considerations: Compare and contrast important market considerations for your selected market against those in the domestic market. Explain the similarities, differences, and considerations for conducting business between the two markets, such as general legal and regulatory requirements, monetary and management logistics, and mode-of-entry considerations.
- Monetary Considerations: Explain how monetary considerations such as currency, exchange rates, and exchange-rate management would impact the organizations decision to expand into your selected market, using current exchange rates between your selected country and the United States to support your explanations.
- Management and Logistics Considerations: Explain management and logistics practices that best address human-resource considerations for your selected market, such as management approaches or staff and labor laws and their impact on policies and procedures.
- Mode of Entry Considerations: Describe the advantages and disadvantages of traditional modes of entry that would be most appropriate for entering into your selected market.