Individual Project: Developing International Business Strategies for a Chosen Business

1. The Individual Project (70% of the total marks)

You choose to study a business, big or small, local or international; desirably, also in your pathway subject area. Based on its current products and status, identify a new international market for this company. The international market can be a region (for example, the EU), a country (for example, the US) or also choose a city/area in this country (for example, New York City in the US or California in the US). This must be a new market that this business has never entered.  You create a business plan for the chosen business to enter and develop its business in the selected market. In the plan, you design entry, marketing, operations and HR strategies, on the consideration of.

1. this business’ current local and/or international business practices;
2. the resources and the constraints it currently has ;
3. the resources it needs to implement the international strategies; and
4. the social/cultural background in that country.

You are expected to use the knowledge you have learned from the lectures/seminars and from your own research as the guidance for your practice. You are also strongly suggested to use your practice to challenge the theories. The key to success is insight, synthesis, innovation and creativity. Please bear in mind - this is not just about export!

When developing the international strategies, you must use proper international business theories and literature to support your rationale and decision.

Word count – 3,500 words, exclusive of submission information, executive summary, table of content, the reference list and the appendix; 10% margin on each end.

Please note, you must use Harvard Referencing System to properly reference your work, including both in-text referencing and end of paper reference list. Improper referencing will lead mark loss or a fail.

You must upload a Microsoft Word document to Turnitin.

Develop your project

Your report is suggested to include these sections and contents.

Introduction

Use about 500 words to describe the background of the project in its wider context, explain your key purpose and motivation. Secondly, give a brief introduction to the chosen business and explain the reason and value to study it. Thirdly, briefly introduce chosen international market and address the reason and value to choose it. Lastly, briefly present the following contents of the report.

Business Strategy Development

This chapter is used to explain your business strategies. It is about 2,500 -2,800 words

2.1 Entry strategies

2.2 Marketing strategies (may also include public relations where applicable)

2.3 Operations strategies

2.4 Human Resources strategies

2.5 Finance strategies (optional, but you develop this strategy, you need to use proper data to explain budgets, costs, profits, and rough breakeven point and time. Creating a balance sheet is recommended.)

Your considerations and strategies on dealing with ethical issues and cultural issues should be embedded in your strategies where applicable. 

Use references and evidences to support your discussions. Relevant international business theories, models and literature must be used to support the development of your ideas and plans.

Reflection

You are highly recommended to send your business report to the chosen company to seek their comments and advice. If this is achieved, please present their reply in the Appendix. Use about 300 to 500 words to response to the reply and to reflect upon your learning outcomes from this project and from the company’s feedback. For example, do you agree or disagree with their comments? How do you revise this business plan to cope with the company’s comments, suggestions or desires, etc.?

If you are not able to obtain the company’s feedback, please review your report and your group member’s report and state the inspiration you obtained from studying your group member(s) work.

Construct your report

You are recommended to format your report in this way

Title Page – report title, module information (module code and name), personal information (student name, student number), submission date (the final submission date, the date you upload to Minerva. The latest will be Friday, 22 Jan, 2020)

• Have a good title – your report title should tell the reader what the report is about, it needs to be clear, short, and focused. Preferable, it is also interesting and attractive
• Have a nice design – neat, smart, attractive (be careful of using colours)

Executive summary (start on a new page) – this is a short summary your business project. It normally provides the answers to the following questions.  

1. What is the background of this report?
2. How did you do it?
3. What did you achieve?