Imagine yourself as the CEO of a major (fictional) US company that currently operates only in North America (US, Canada and Mexico). Give a name to your company. Now choose the sector you operate in (retail, financial services, media, automobiles, or any other sector of your choice). Also imagine that your board of directors has in principle decided on expanding the operations of your company outside North America. Come up with a feasible plan of action for your company to internationalize. In your plan, focus on the following aspects of internationalization. 1. Why do you think it is important for your company to go global? (Hint: you may discuss the current state of your industry and what comparable firms are doing, you may discuss the imperatives of short-term profit and long-term growth etc. – additionally, use the class discussions on ‘why do firms go global’).
2. Which part(s) of the world do you plan to invest in, and why? (You can choose one or more countries in Asia, Africa, Europe and / or Latin America). (Hint: Use the class discussions on ‘where to locate’).
3. How do you plan to enter the relevant foreign market(s)? (Hint: Use class discussions on ‘foreign entry modes’ and ‘factors affecting entry modes’).
4. What are the main threats and opportunities you are likely to face as you enter the chosen market(s)? (Hint: among threats you may refer to cultural differences, regulatory norms, different consumer tastes and business practices, corruption etc – as applicable; among opportunities, you may mention size of market, demographics, local demand, high growth rates etc. – again as applicable).