Business Plan Individual Essay
You are an entrepreneur with a medium-sized company in the pharmaceutical industry in Jordan looking to take the opportunity of new growth in two emerging markets of your choice.Due to lack of international experience, the firm does not wish to enter both markets at the same time. Your task is to examine the business environments of the two countries, and advise the company on the following strategies: a) Which country to enter first, and why; and b) The preferred entry strategy you recommend. Justify your recommendation.
You are assured by Management that resource wise, the firm is confident that they will have no problem to undertake the opportunities identified and recommendations proposed in your report.
Your report should include the following:
- Executive summary (no more than three to four paragraphs)
- Introduction, outlining the background and objectives of the report
- A brief evaluation of the business environment and industry opportunities in the two countries.
- Which country you have chosen, and why.
- Evaluate the potential market entry strategies, considering both the benefits and shortcomings of each
- Recommend the most suitable entry strategy, explaining why, and assessing the implications of this strategy
- Appendix (you can place extra information e.g. PESTEL or data in the appendix and refer to it in the body of the report – make sure you cite the sources of your information in the appendix)
The overall marking criteria are as follows:
- Extent of coverage of relevant issues (40%)
- Depth of analysis, application of theory, logic of argument, and recommendation / conclusion (40%)
- Referencing, structure of the report, and presentation (20%)
- The balance between market analysis and the actual planning/recommendations– ensure that your submissions are balanced with regards to analysis and recommendations. For example, do not use a lot of space summarising the analysis, at the expense of developing your recommendations and considering potential issues.
- Vagueness – planning needs to be very specific; stating that you will enter country X using entry mode Y is not enough. You need to explain and critically analyse the rationale behind your choices, the academic tools/ frameworks used, the issues that you took into consideration and also demonstrate that you have given some thought to the implementation and implications of your recommendations.
- Academic content – you are expected to include academic material into your report rather than relying upon online sources alone. You need to demonstrate an understanding of the theoretical background of international business through your citation of relevant academic content.
- Executive summary – an executive summary should be written in a way that allows the executive who reads it to know what the problem is and how it is solved. Essentially, it is a summary of your problem statement, objectives and how to achieve them (i.e. how to solve the problem).
- Secondary data use – Analysis should be supported with secondary data (from the literature). You should demonstrate wider reading and acknowledge the sources of your information, both in the main body and in your bibliography. Information pertaining to the potential markets and selected company should be sourced from reliable sources rather than through general web search, you should speak to an Academic Librarian if you require assistance with this.
- Presentation and structure – to achieve an excellent grade, your presentation needs to be immaculate – this includes numbering tables, referencing correctly etc. Do not present a lot of data and information in tables as appendices. Data or statistics that refer directly to your discussion in the main body should be presented in the main body. Tables and figures – tables and figures need to be numbered and each should have a title that is self-explanatory. Your analytical content must be high, demonstrating critical thinking and the ability to apply relevant marketing concepts