Notes Ch. 12- Global Market Opportunity Assessment
-the choices managers make determine the future of the firm; making good choices depends on objective evidence and hard data about which products and services to offer and where to offer them -the more managers know about an opportunity, the better equipped they will be to exploit it; this is particularly true in international business, which usually entails greater uncertainty and unknowns than domestic business -global market opportunity- favorable combination of circumstances, locations, or timing that offers prospects for exporting, investing, sourcing, or partnering in foreign markets -in various foreign locations, the firm may perceive opportunities to: sell its products and services; establish factories or other production facilities to produce its offerings more competently or more cost effectively; procure raw materials, components, or services of lower cost or superior quality; or enter into collaborative company performance, often far beyond what the firm can normally achieve in its home market Six Key Tasks (six key tasks that managers should perform to define and pursue global opportunities) 1.
Analyze organizational readiness to internationalize
Asses the suitability of the firm’s products and services for foreign markets 3.
Screen countries to identify attractive target markets
Asses the industry market potential, or market demand, for the product(s) or service(s) in the selected target markets 5.
Select qualified business partners, such as distributors or suppliers 6.
Estimate company sales potential for each target market
-Task One: Analyze organizational readiness to internationalize -provide an objective assessment of the company’s preparedness to engage in international business activity -a list of firm strengths and weaknesses, in the context of international business, and recommendations for resolving deficiencies that hinder achieving company goals -relevant financial and tangible...
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