choose a country (other than your own) as well as a specific industry and/or product/service within

choose a country (other than your own) as well as a specific industry and/or product/service within that country. It is highly recommended that you choose a country with culture and language different from your own country. In the IB literature, the country that you will choose is referred to as the potential host country – as this country will ‘host’ or allow firms (i.e. firms from other countries including firms from your own home country) to do business within the host country’s borders.
2. Your major task is to examine the host country’s business environment as well as other international business issues and trends that may affect the conduct of business in that country. In order to do this analysis, you will need to identify a specific industry and/or product/service as the point of reference of your analysis and explain why and how a firm from your home country may be able to do business in that specific industry in the host country. The main goal is to analyse how a firm from your home country can do business in a specific industry or (under a line or type of product or service) in the potential host country given the potential host country’s unique business environment.
3. The purpose of this assignment is to provide you with an opportunity to apply your knowledge of international business concepts, theories and models that are covered in the course. You are challenged to learn where and how to find and evaluate information relevant to international business, in general, and to a specific industry and host country, in particular.
4. This assignment has two parts. Part A is an analysis of the business environment of the host country (e.g. Vietnam) and the chosen industry within that country (e.g. telecommunication industry). Part B is an examination of the international business strategies that may be utilised by a firm from your home country in order to successfully enter and do business in the host country in a given industry (e.g. the mobile telecommunications industry in Vietnam).
1. Select a potential host country. It should be a country other than your own, and preferably with culture and language that are different from your home country.
2. Select an industry in the host country OR a product/service that you think can be marketed in the host country. For example, you may choose the telecommunications industry. Specifically, you may choose to plan to market in the host country cellular, broadband and mobile internet services. The chosen industry or product/service may or may not be currently existing in the host country.
3. Research the host country’s local business environment in general, and the telecommunications industry in particular. You need information about the host country’s economic, legal/regulatory, cultural, political, social, and technological environments. You also need information about international issues and trends that may have an impact on the host country and/or the local industry in that country or any other international issues that may impact the ability of a firm from your home country to do business in the potential host country (e.g. strained diplomatic relations between the countries)
4. You must include only the information on environmental factors that are relevant to the industry or to the marketing of the chosen product/service. This is not about quantity but QUALITY of information. It is important to be brief, and succinct when you present up-to-date and relevant information.
5. Develop a plan of action detailing how a firm from your home country (e.g. a telecommunications firm) may enter or do business in the chosen industry in the host country. This plan will provide the details of your evaluation of the alternatives with respect to international business strategies to enter the target industry/host country. The evaluation will highlight the advantages and disadvantages of each alternative strategy. You will then make a recommendation which strategy or strategies to pursue. The recommendation may be a single strategy only or a combination of two or more strategies.
6. The firm from your country may or may not be currently existing/operational. If you choose a firm that is currently in business in your home country, it is important that the firm is NOT YET doing business in the potential host country that you wish to study for this project.
7. Perspective of the assignment – You can assume to be an employee or executive of the firm from your home country, an entrepreneur who wishes to venture into the potential host country, or an external consultant helping out a firm from your home country to enter the local market of the potential host country.
8. Nature of industry/product or service. You may choose an industry or product or service that is not yet marketed/sold/offered in the local markets of the potential host country or you may choose one that is already existing but you can see further opportunities in the local markets within the potential host country. Whilst you are encouraged to be bold and brave in your project, please bear in mind that access to much needed information is crucial to the completion of this assignment. It is important therefore that you consider a country/ industry/product or service for which sources of data are accessible to you.
9. The Template of the Report
This is the generic template of the report
Target Country: e.g. Vietnam assuming student is from Finland-different culture & language
Nature of Industry: e.g. Telecommunications – Broadband/Mobile Internet services) You may briefly explain the industry or product/service if needed to inform the reader of your report (also include explanation as per item 8 of the mechanics shown above.
I. Introduction: (up to one page)
This part will serve as the executive summary outlining the major findings of your study in Parts A and B. This should tell the reader what to expect in the report. You may also state for whom the report is (remember item 7 of the mechanics shown above?).
II. Body of the Report
Part A. The Business Environment(not more than four pages – i.e. could be one, two three pages)
1. Economic environment –outline of the economic geography of the country including the size of the economy, major resources, main industries, major markets, characteristics of the population, main characteristics of the finance/banking sectors, maturity of the infrastructure (transport, communications, telecommunications, information technologies, etc.), major trading partners, the status of the economy, data on FDIs, etc.. Also include the geo-physical environmental factors, that may impact the overall economy (e.g. perennial weather disturbances such as typhoons and floods) if there are any. Again include only the information most relevant to your topic.
2. Legal and regulatory environment –legal system, regulations pertaining to business in general and foreign-owned businesses in particular, investment laws, and other laws/regulations that may affect the specific industry you have chosen.
3. Cultural environment :outline of cultural factors that may impact your ability to enter the host country to do business, local consumption patterns for certain products/services, restrictions based on local culture, etc. Are there cultural factors that may help you to enter the local markets (e.g. the use of informal ties, networks, etc.)? What are the local customs and traditions that foreign firms need to consider when dealing with the locals?
4. Political environment: outline of political factors that may affect the viability of doing business in the country. For instance you may wish to investigate if the country is relatively politically stable. Are there political factors that increase the risks of doing business in the country?
5. Social Environment: outline of social trends and issues (e.g. very traditional vs. modernising society) that may affect consumption of the product/service that you are planning to market into the host country.
6. Technological environment: outline of technological developments in the host country (e.g. the stage of development of the infrastructure for telecommunications and other infrastructure closely related to it – if you are studying the telecommunications industry in the host country).
7. International issues and trends: outline of significant international factors that may have an impact on the country’s economy (e.g. data about the county’s international trading activities with other countries, membership in regional economies, membership in single markets, membership in international bodies that help the country to develop, engagement of countries in international conflicts that may affect economic and political stability, partnerships of local big companies with foreign or multinational firms or agencies etc.). Discuss the importance, relevance and significance of the issues/trends in the overall business investment potential of the country as well as in the overall attractiveness of the industry or product/service.
You may highlight the most current news and events that fit into any of the seven (7) items mentioned above.
It is expected that one/ some/few of the 7 items is/are more important than others given the characteristics of the chosen host country and/or industry/product or service. You may note this in your report and explain why there is more emphasis on say, technological over legal or regulatory environment (assuming there are no significant legal or regulatory impediments in doing business in the potential host country). No fast rules in this regard as countries and industries differ in more ways than one. The important thing is that you have covered the critical details most relevant to your analysis of the potential host-country and industry.
Part B. International Business Strategy/Strategies(not more than 4 pages – i.e. could be one, two or three pages only)
1. Identify at least three foreign entry modes that may be used by a firm from your home country to enter the industry/host country analysed in part A. (e.g. exporting, turnkey projects, licensing, franchising, joint ventures, wholly-owned subsidiaries – acquisitions, or greenfield ventures, cooperative agreements, etc.).
2. Evaluate the advantages and disadvantages of the probable entry modes. Develop a set of criteria that will be used in evaluating each of the relevant entry modes. A table showing a matrix – entry modes in columns, and evaluation criteria in rows – may help to systematically present your analysis. Your evaluation should not only reflect theoretical explanations (e.g. from the text) but should include analysis given the unique factors found in the industry/country as presented in Part A. The matrix will look like this: