(PDF) International Business Development
Added on 2020-01-23
14 Pages5077 Words764 Views
Business DevelopmentLeadership ManagementMarketingData Science and Big DataHigher Education
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INTERNATIONALBUSINESSDEVELOPMENT
Table of ContentsINTERNATIONAL.........................................................................................................................1INTRODUCTION...........................................................................................................................3Rationale.................................................................................................................................4LITERATURE REVIEW AND CRITICAL ANALYSIS..............................................................5PESTLE Analysis of Bonia Group ........................................................................................5Market entry strategy of Bonia Group ...................................................................................8Impact of these strategies in various sectors..........................................................................9Risk Analysis........................................................................................................................10CONCLUSION..............................................................................................................................11Recommendations................................................................................................................11BIBLIOGRAPHY..........................................................................................................................13INTRODUCTIONInternational business development is the process in which a company expands itsoperations in foreign lands. . The motive of an organisation is to increase number of branches atglobal. This in turn helps the organisation in developing the market segment by catering to theneeds of large number of consumers. Basically it targets the countries which are not developed .They want the sustainability in the development of international business. For that theorganization have to analyse the atmosphere of the market in various nations. In presentscenario, many companies are looking forward to extend their business in other countries(Chang, S.J., Van Witteloostuijn and Eden, 2010). The big corporates are adopting the strategy toexpand operations in nations such as: Brazil, Russia, India and China. These nations havegrowing demand for various products that generates a growth opportunities for the business unitsinto consideration. . Bonia Group is one of the popular companies in Malaysia that hasestablished its first store in 1994 at the Thereafter, the company has opened many stores inMalaysia and international market. It is mainly dealing in retail selling of fashion stuff and foodproduct, . It is a market leading company which has a big share in the market of Malaysia, alsothe brand has developed variety in their products to attract the new generation. The company has
its stores in Portugal, Germany, Belgium and Netherlands. Now, the company wants to opentheir store in Brazil which have traditional economy. To develop their business internationally, each company has to adopt an effectivebusiness strategy. Similarly, Bonia Group have their own strategy to enter the competitivemarket of Brazil. Strategy has made on the basis of few factors on which are so important ininternational business development such that communication improvement, globalization ofmarket, competition is everywhere but awareness is a big thing, company should haveinformation about the market and he entrepreneur should have the Craftsman approach ofentrepreneurship. In this report the initial research about the market of Brazil has discussed. They shouldknow that how the company can use their potential to enter in the market of Brazil(Cantwell,Dunning and Lundan, 2010.). So a literature preview and critical evaluation of the each factorthat is involved in the business development, has outlined in this framework. Market analysis,targeting the selected markets, selection of entry modes through which they enter to the market.According to the foreign market the firm have made a plan for marketing and business purpose.To meet the international objective, company should expand their resources in other countriesand for that it has to grab the opportunities which can be helpful in such expansion.RationaleBrazil have cultural based economy as their economy depends on their traditionalbusiness. The main purpose to start the business in Brazil that it have so much potential in theireconomy. When the market has crashed in all over the world but the outcome from Brazil'smarket was still getting the profit. Its an expectation of the world that in next 20-30 years Brazilwill be the 5th largest economy in the world. The other companies in the market are doing so wellthus there is a large scope for the Bonia Group to open their stores in the market of Brazil. Theywill have so much opportunities to set up their business successfully in initial stage. The Bonia Group can target the clothing market as the local people are so influenced withthe different trends in fashion. The each sector of market is improving slowly but steady, Somuch relaxation the government gives to the company to develop theirinfrastructure(Birkinshaw, Brannen and Tung, 2011). The company will have tax incentives tomake a better start in the competitive environment of market. Brazil exporting the raw material
to the other countries, so its an opportunity for the entrepreneurs of Bonia Group they can jumpin that market with their attractive product and services. Brazil have made a relationship on commercial side which have 5 themes such thatinnovative technology and green technology, facilitation of trade and development of business,cooperative society of intellectual property, different standards and methodology, enterprises ofsmall and medium size. The market of Brazil gives priority to the new and innovative productswhich are not even accepted from the other countries. The south east area has more opportunitiesfor the new companies if they want to develop their business. But now where so many incentivesand others offers are provided from the government so the Bonia Group can grow sin each areaof Brazil. Bonia Group can enter the market because they have so innovative products also the itsfashion trends are so popular in Malaysia and many other countries where they already have theirstores(Doz, 2011). Organization can lead the food market by providing the better quality of theproduct and and they should have attractive approach to show that product in the market.Business development in Brazil is quite beneficial for Bonia Group. LITERATURE REVIEW AND CRITICAL ANALYSISPESTLE Analysis of Bonia Group Bonia Group is the top retailer company in the current retail market of the Malaysia. Todevelop the new business of Bonia Group in Brazil, there is a vast requirement for the marketstrategies and the PESTLE analysis require to study that Brazil is suitable for the Bonia Groupmarket set up or not. Each and every organization have their different market strategies andtactics to survive in the current market trend(Govindasamy and et. al.,2011). Moreover, thedifferent retailer companies follows the several analysis to approach the marketing strategies andtarget goals. Retail organization mainly set their specific target market and have an efficiency tobring the customer's demand in the new market trend. Bonia Group is realizing that for the longterm benefits, the Pestle and swot analysis help them to reach the long term goals at very greatextent. For the market set up of Bonia Group in Brazil, need of the Pestle analysis is veryimportant for the study of the current market environment of Brazil(Pestle and Colvard, 2012).
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