How does one go about selecting a country because i'm clueless when it come to anything about business/political international in order to answer these question I was thinking Africa but not sure if that's a good country?
Select a company and country that interests you.
You have been asked to evaluate the country you selected as a potential market for your product(s)/service(s) and present your findings to other managers of the organization in a memo. In your memo, be sure to address the following:
* Provide a brief overview of the company and why the country you selected may be a potential market.
* What type of political and legal systems does the country have?
* Do free elections take place?
* Is the government heavily involved in the economy?
* Is the legal system effective and impartial?
* Do political and legal conditions suggest that it should be further considered as a potential market?
Africa is not a country. If you want a market, you have to produce something that a country with money has.
How does one go about selecting a country because i'm clueless when it come to anything about business/political international in order to answer these question I was thinking Ethiopia, but not sure if that's a good country?
Select a company and country that interests you.
You have been asked to evaluate the country you selected as a potential market for your product(s)/service(s) and present your findings to other managers of the organization in a memo. In your memo, be sure to address the following:
* Provide a brief overview of the company and why the country you selected may be a potential market.
* What type of political and legal systems does the country have?
* Do free elections take place?
* Is the government heavily involved in the economy?
* Is the legal system effective and impartial?
* Do political and legal conditions suggest that it should be further considered as a potential market?
When selecting a country for business purposes, there are a few steps you can follow to make an informed decision:
1. Research: Start by conducting thorough research on potential countries. Look for countries that align with your business goals, have a stable political environment, a growing economy, and a demand for your product(s)/service(s). Consider factors such as market size, competition, cultural compatibility, and infrastructure.
2. Consider Africa: Africa is a vast continent with a diverse range of countries, each with its own unique business and political landscape. It may be helpful to narrow down your options by researching specific countries within the African continent that align with your business and market objectives.
3. Analyze Market Potential: Determine if the country you selected has potential for your company by considering factors like economic growth, market demand, consumer purchasing power, and competitor analysis. Consider if your company's products/services are likely to be well-received and if there is market demand for them.
4. Evaluate Political and Legal Systems:
- Political System: Research the type of political system in the country. Determine if it is stable, democratic, or prone to political instability.
- Legal System: Understand the legal framework in terms of how it protects business interests, enforces contracts, and resolves disputes. Research the country's laws regarding foreign investment, intellectual property protection, and regulations for conducting business.
5. Assess Government Involvement: Determine if the government has a significant role in the economy. Research if they have policies or regulations that may impact your business operations or create barriers to entry.
6. Free Elections: Investigate if free and fair elections take place in the chosen country. Political stability and a democratic process are generally positive factors for business growth and investment.
7. Effective and Impartial Legal System: Examine if the legal system in the country is effective, transparent, and impartial. This is crucial for ensuring a conducive business environment where contracts can be enforced, disputes resolved, and intellectual property protected.
8. Consideration as a Potential Market: Based on your research and analysis of the political and legal conditions, determine if the country you selected is suitable as a potential market for your company. Assess if the overall business environment is favorable and aligns with your long-term objectives.
Remember, it is essential to consult with experts, such as business consultants or industry professionals, who have experience in the region you are considering to get a more comprehensive understanding of the specific country's business and political environment.