IBUS1101 Lecture Notes - Lecture 8: Market Entry Strategy, Global Sourcing, Swot Analysis

• School: University of Sydney
• Department: International Business
• Course: IBUS1101
• Professor: Sidney Gray

Document Summary

A favourable combination of circumstance, locations, or timing prospects for exporting, investing, sourcing, or partnering of foreign markets. Establish factories/other production facilities offerings more competent/cost effect. Procure raw materials/components/lower cost services or more superior quality. Analyse organisational readiness to internationalise = o(cid:271)je(cid:272)ti(cid:448)e assess(cid:373)e(cid:374)t of fir(cid:373)"s preparedness to engage in international business. Examine companies strengths and weaknesses (swot) for international business evaluate availability in key factors: appropriate financial/tangible resources, relevant skills/competencies, ma(cid:374)age(cid:373)e(cid:374)t"s (cid:272)o(cid:373)(cid:373)it(cid:373)e(cid:374)t to i(cid:374)ter(cid:374)atio(cid:374)alisatio(cid:374) Assess suita(cid:271)ility of the fir(cid:373)"s produ(cid:272)ts a(cid:374)d ser(cid:448)i(cid:272)es for foreig(cid:374) (cid:373)arkets conduct systematic assessment of company offerings for international customers + evaluate fit between offerings and foreign customer needs. For each target market identify factors that may hinder market potential. Determine how offering may be adapted for each market. Assess offering regarding factors e. g. foreign customer characteristics, laws and regulations, channel intermediary requirements, nature of competitors. Sell well in domestic market/similar needs overseas (e. g. milk powder, wine) Cater to universal needs (cancer drug, energy efficient refrigerator)