You are a business analyst working at a small, domestic organization that produces high-quality baseball bats. 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 to grow. 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 summarize your findings in a business brief for leadership.
Continue to use your selected market from Milestone One. As a reminder, the options for international markets are:
- Republic of Korea
If you would like to use another country for your final project please reach out to your instructor.
In this milestone, you will continue to use the Business Brief Template (located in the Guidelines for Submission section of this document). Complete Section Two and the Legal and Regulatory Considerations portion of Section Three. Use course resources as well as the INT 220 Library Guide to support your responses.
Specifically, you must address the following rubric criteria:
Market Profile: Explore and explain the cultural, political, and economic environment of your selected market to help inform future business decisions regarding expansion from the domestic market.
- Cultural Profile: Compare and contrast important cultural elements of your selected market against those in the domestic market, including communication, dimensions of culture, attitudes, common business etiquette and practices, and at least five other important aspects of culture.
- Political and Economic Profile: Compare and contrast important political and economic factors for your selected market against those in the domestic market, including political systems and ideologies, current leaders, economic measures or characteristics used in classification, and government intervention on trade.
Market Considerations: Discuss the legal and regulatory considerations in your selected market that can impact business decisions regarding expansion to new global markets. You should also consider corporate social responsibility for each market consideration.
- Legal and Regulatory Considerations: Compare and contrast important legal and regulatory requirements of your selected market against those in the domestic market, including trade restrictions, regulations of products or services, legal processes for business transactions, and import restrictions or documentation.
Guidelines for Submission
Template: Business Brief
Submit the template as a 500- to 650-word Microsoft Word document. Based on your milestones, you should have Sections One and Two completed, as well as the Legal and Regulatory Considerations portion of Section Three. Sources should be cited according to APA style.