1. Introduction – You need to work out what is the business scope of the company. That is
what business are they in?
2. You will conduct an internal environment analysis – with a particular view to how well the
company is placed to operate in another country.
3. You will also conduct an external environment analysis based on the information available
about the new target country. From this you will derive a SWOT matrix.
4. Finally you will look at the Critical Success Factors for the industry and prepare a Problems
and Opportunities statement.
Note:Don’t forget that you are going into a new country market that will already have competitors
there, so you need to analyse who they are and what they do; to enable you to prepare strategies
to compete against them..
Make sure that you include appropriate references where necessary.
To answer the given question, you will need to follow these steps:
1. Identify the Business Scope: Research and gather information about the company's products, services, and overall industry. Look for information on the company's website, annual reports, industry reports, and news articles. Understanding the business scope will help you determine the company's core competencies and value proposition.
2. Perform Internal Environment Analysis: Evaluate the company's internal capabilities and resources. This can include a review of its financial statements, organizational structure, human resources, production capacity, research and development capabilities, and technological advancements. Assess how well-prepared the company is to operate in another country, considering factors such as language barriers, cultural differences, and export capabilities.
3. Conduct External Environment Analysis: Investigate the new target country's market conditions and business environment. This can involve analyzing factors such as the country's political and legal landscape, economic stability, market size and growth potential, consumer behavior, and industry regulations. Use reliable sources such as government reports, market research studies, and reputable news sources.
4. Derive a SWOT Matrix: Based on the information gathered from both internal and external analyses, create a SWOT matrix. This matrix identifies the company's strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors, while opportunities and threats are external. Use this matrix to identify strategic areas for improvement and formulation of competitive strategies.
5. Analyze Competitors: Conduct thorough research on existing competitors in the target country. This includes identifying who they are, their market share, pricing strategies, product differentiation, distribution channels, and marketing tactics. This analysis will help you understand the competitive landscape and develop effective strategies to compete against them.
6. Determine Critical Success Factors: Identify the key factors that are critical to success in the industry. These could include factors such as product quality, customer service, pricing, brand reputation, distribution networks, and technological advancements. Understanding these critical success factors will help you identify opportunities and challenges for the company in the new market.
7. Prepare Problems and Opportunities Statement: Based on the analysis conducted, prepare a statement outlining the problems and opportunities that the company may face in entering the new country market. This statement should provide a clear understanding of the potential hurdles and growth prospects for the company.
8. Include Appropriate References: Throughout the analysis, make sure to cite relevant sources and include appropriate references for the information and data used. This helps ensure the credibility and reliability of your findings and recommendations.
Remember, conducting a thorough analysis and research is crucial to understanding the business scope, internal and external environments, competition landscape, and critical success factors when entering a new country market.