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Assignment 2 Project – Business Expansion Overseas
You are part of the Senior Management Team for an Australian or Foreign company specialising in natural resources / IT / Services / Pharmaceuticals / Manufacturing / Food and Beverage / Other. Your organisation is about to expand into a new country/region from the one you are based, to capitalise on an opportunity to access a new market. You have been asked to devise a plan to facilitate the expansion.
1 Organise yourselves into a team of four. It can help if members of the team are from different parts of the world as this can bring a diversity of views to the team, in the roles and responsibilities with the expansion being considered.
2 As a team you will need to select a particular country that you are based in, and then also the specific country that your company will be expanding into. You many chose any country and are not limited to suggestions given below.
There are two parts to this assignment:
The first will require you to present your proposal to the Board (class).
The second component will require you to submit a written report based on your presentation and research.
Part 2 – The Report
Prepare a report to present to the Board (i.e. the class) to address the following
- The country/region specific factors that your team will be taking into account
- The industry specific factors that need to be taken into account (eg. manufacturing processes, health and safety, training)
- The cultural factors that need attention in the expansion project (e.g. identifying and understanding culture and language differences, translators; staffing considerations, safety and legalities amongst others)
- How does your home base culture differ from that of the new country you are beginning in?
- Steps you would undertake to facilitate effective negotiations, inter and intra cultural communication,
- How the HRM practices of the two countries can be adjusted or merged if necessary
- Define clearly what you believe are the three most significant cultural challenges your team believes your company faces in successfully penetrating the new market and how will you meet these challenges?
- Consider how you will engage the board to make an investment decision.
Prepare a written report for submission, based on your research and presentation. Written reports are not to exceed 2500 words and must include minimum 10 academic peer reviewed references. Ensure you link your strategies to the cultural setting and country specific factors, in doing so you will need to account for differences in your country's vs. foreign work practices, settings and environments.
It is expected that this be a 'group report', that is, all members of the group must contribute. Dividing up sections and later cut and pasting these to form a report is not acceptable. Evidence of the whole document being edited in total will be rewarded.
The written report will be due one week after your in-class presentation.
Assignment 2 Project – Business Expansion Overseas (40%)
Written report not to exceed 3000 words, Word Arial 12 font, report format
Word limit- 2500
References- Minimum 10 academic peer-reviewed articles
You will need to research the internet, publications and other sources for information on the specific industries you are selecting. I encourage you to go beyond setting up the business in your home country and explore learning opportunities to investigate how other countries operate. You may also wish to refer to the Report Writing Guide for help on the structure and format of your assignment.
Blackmores- a Sydney based health Supplement Company' intends to expand in the Indian market. The higher recognition towards wellness, and the culture of Ayurveda and belief towards herbal medicine, along with the present setting of the industry prompts positive business outcome for the company. Blackmores has already established itself in 4 Asian markets, and gaining acceptance in India will be a strong advantage for the company, however, there is a need to align some cultural aspects of the interaction to ensure positive business outcomes. In this sense, alignment of the business values, and familiarizing with the value system of the Indian business climate is advocated for positive cultural interaction and negotiation results for the business.
International expansion in business has numerous benefits, ranging from financial incentives to increased sustainability for an organization. In this competitive world, more and more businesses are realizing that targeting newer markets allows them to have a stronger brand presence. However, even as businesses strives to enter new markets, they face challenges in terms of legal and litigation frameworks, management and cultural alignment and establishing corporate sustainability in a new environment. It is for this reason that global expansion requires inter-cultural preparation. Culture epitomizes the way we behave, and dominates our critical decision making (Dabic et al. 2015). In business interactions, small gestures and courtesy influences the way a business negotiation and terms are defined. However, gestures often mean different things in different culture. This prompts a need to train the stakeholders in terms of the cross-cultural interactions and variables to ensure effective business output. The relevance of this process, is further comprehended through a case study framework. For the purpose of this paper, the case of Blackmores Ltd- an Australia based health Supplement Company, and their expansion in the Indian market is studied. The increased dominance and stronger stance of the Asian market, especially the Indian subcontinent and the increased motivation towards health and wellness in this market has prompted this research choice.
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