BMG871 International Business Research: Latin America for Bikester

This report investigates the potential of Latin American markets for a UK-based bicycle retailer, Bikester, aiming to expand its physical presence. The research objectives include evaluating the importance of conducting research for informed decision-making, identifying Latin American countries with the greatest market potential, and suggesting strategies for successful expansion. Employing a positivism research philosophy and a deductive approach, the study utilizes both primary (surveys) and secondary (literature review) research methods. The target audience comprises citizens, employees, and business owners in Latin America, selected randomly. Key challenges identified include inequality, economic instability due to the COVID-19 pandemic, environmental concerns, violence, and ethical considerations in data collection. Brazil and Mexico are highlighted as potential markets, considering factors like population size and increasing cycling adoption. The research aims to provide valuable insights for Bikester's strategic decision-making regarding international expansion.

BMG871 International
Business Research Skills
- coursework 3

Table of Contents
Option 3 - International Business Research Tasks..........................................................................1
Background regarding the importance of the conducting of the research..............................1
Appropriate research objectives.............................................................................................2
Identification and justification for research approaches.........................................................2
Target audience for research..................................................................................................4
Key challenges........................................................................................................................5
REFERENCES................................................................................................................................5

Option 3 - International Business Research Tasks
Background regarding the importance of the conducting of the research
The concept and process of the conducting and undertaking a research tend to be an
inquiry-based and investigation process that tend to comprises and involves the identifying of a
set of specific objectives and question along with gathering of the all the set of the information,
and ensuring its effective analysing as well as evaluating evidence together with making efforts
for drawing conclusions, and finally includes the sharing the knowledge gained (Ashley, Schaap
and de Bruijn, 2022). Thus, conducting and integrating research is important and vital as it tend
to support and leads to better evaluation of the evidence and facts to come up with a suitable and
meaningful conclusion that supports knowledge creation and improved decision making. Further,
the potential uses and advantage of conducting research comprises of the having and fostering of
the critical thinking skills along with leading effective analytical skills that supports better
underdoing of managerial decision making based on the exposing of knowledge and
understanding level on set topic. The current research is based on determining and analysing the
countries in Latin America to select the most suitable and profitable market for a bicycle retailer
of UK. For Instance: Bikester which is a well-known bicycle retailer along with operating as
outdoor pursuit clothing the main headquarter of which is located and situated within England,
UK. This Bicycle and outdoor clothing company is tending to offer all manner of services
designed to make effectively attract and cater the interest of customers along with including a
fully qualified mechanic-staffed workshop to test rides and a great life servicing offering. Thus,
after achieving a sustainable growth in the various location of the UK it is planning to expanded
its physical presence across other nation of world. Thus, the main aim and purpose of the current
study and research project is, “To determine about that the which countries within the Latin
America tend to have the greatest level of the market potential for their products?”. It has been
analysed and reviewed that the undertaking of the current investigation would support the
gathering and reviewing of the authentic set of the information that would support better
managerial decision making (Casson and Li, 2022). Along with this, it has been also seen and
analysed that the undertaking of the current research work would be effectively answering the set
questions and also supporting the set objective regarding and associated with varying issues by
the way of the offering and implicating better analysis and implication of the current and
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prevailing market trends and business situation. Therefore, undertaking of current investigation
is vital and effective in leading and supporting more effective managerial decision making by a
Bicycle and outdoor clothing to effective identify and select the most profitable and suitable
Latin America country that would have greatest market potential for their products.
Appropriate research objectives
Aim of the project
The main aim and the core purpose of current study is, “To analysis about the potential
uses and importance of conducting and leading research work in informing and supporting better
decision making along with determining countries in Latin America that would have the greatest
market potential for their products.”
Objective of the project
 To evaluate about the potential uses and importance of conducting and leading research
work in informing and supporting better decision making.
 To identify and determine about the countries in Latin America which would tend to have
the greatest market potential for the product and offering of Bicycle and outdoor clothing.
 To make some vital suggestion for a Bicycle and outdoor clothing to ensure better
expansion and growth within the selected nation of the Latin America.
Research questions
 Which can be the potential uses and importance of conducting and leading research work
in informing and supporting better decision making?
 Which can be the countries in Latin America that would tend to have the greatest market
potential for the product and offering of a Bicycle and outdoor clothing company?
 What are the possible vital suggestion for a Bicycle and outdoor clothing company to
ensure better expansion and growth within the selected nation of the Latin America?
Identification and justification for research approaches
The identification and selection of the suitable primary and secondary approaches of
research are vital and essentially needed to ensure systematic undertaking of a research project to
achieve and meet the set research objectives in most appropriate and effective way (Irwin and et.
al., 2022). Use of the research onion model and theory has been to have an effective
Identification and justification of the chosen primary and secondary research approaches the
discussion of which is provided as below:
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Research philosophy- There are two main types of the research philosophy comprises of the
positivism and interpretivisim out of which one is being selected by the researcher on the basis of
the nature of the study. The current investigation is based on the determining which countries in
Latin America have the greatest market potential thus applying and making use of the
positivisms research study is identified. The selection of the positivism research philosophy is
justifiable and suitable as it supports systematic and practical way of investigation in numeric
terms thus supports better analysis and determining of the countries of Latin America.
Research approach- There are two main research approach that includes of the deductive
and inductive approach out of which the use of the deductive approach is identified for current
project. The making use of the deductive approach is tending to justifiable and appropriate for
current project based on determining the nation of Latin America as it tend to support the better
scanning and testing of fact and it is also inline and effective with the positivisms philosophy
(Chatterjee and et. al., 2022).
Research strategy- The main form and type of research strategy comprises of the action
research, experiments, observation, interview, survey, systematic literature review, etc. For
current project, use of survey strategy would be made for primary research that supports easy
collection of data with the help of questionnaire that make it justifiable and appropriate for
current study. Further, use of the systematic literature review would be made as research strategy
for review of secondary research apprch that is justifiable as it supports cost and time effective
way of review to meet set objectives based on pre-existing data.
Choice of method- There are two methods of research comprising of the quantitative and
qualitative method. Out of these two, use of the quantitative method of research has been
identified for current study as supports better analysis and presentation of facts with the help of
charts and graphs that supports better meeting of the set objective (Osland, 2022).
Data collection- Gathering and review of information would be made through both primary
as well as secondary approach that is justifiable to have ample and sufficient amount of
information to meet set objective. The gathering of the primary data would be made with the
help of questionnaire that is justifiable as it supports easy and cost efficient collection of data
from a larger number of participants. Along with this, secondary research approach comprises of
literature review which incudes analysis of pre-existing articles and journals that supports a
better base and framework for meeting of set objectives.
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Target audience for research
A target audience tend to present and reflect about the segment of the population that has a
specific opportunity to take action on the problem that have been identified and the topic that is
being addressed and achieved by the undertaking of an investigation. Further, target audience
can be defined and undertake as a group or the set of the people that are tend to be defined by
certain demographics as well as some common behaviour (Barnard and Mamabolo, 2022).
Target audience is the one which is meeting and affected by the findings of the research. In
accordance to the current study based on the determining which countries in Latin America have
the greatest market potential for products of a Bicycle and outdoor clothing company selection of
the citizen, employees and business owners residing within the countries of the Latin America is
made. The main reason and justification for the selection of the citizen, employees and business
owners residing within the countries of the Latin America as target audience for current project
is based on the fact that these are people who tend to have a relevant and authentic information
about the ongoing business condition as well as cultural behaviour and perception of customers
that supports better gathering of information to have better determining and identification of the
countries in Latin America have the greatest market potential for the products of a Bicycle and
outdoor clothing company. A section of 40 participants would be made for current study from
the citizen, employees and business owners residing within the country of the Latin America as
target audience (Doh, Dahan and Casario, 2022). Further, use of the random method of sampling
would be made for the selection of the target audience that is appropriate and justifiable as it
supports a discrimination free and authentic selection of units from large population without
having any practically by the way of leading equal chances of selection for all units. Further, use
of the online channels and e-mails would be made for the collection of the data and facts through
primary sources and selected target audience including and comprises of the citizen, employees
and business owners residing within the countries of the Latin America (Madichie and Hinson,
2022).
Key challenges
The two main countries of the Latin America which are determined and identified for the
expansion of a Bicycle and outdoor clothing company to have better productivity and growth
comprise of the Brazil and Mexico. The reason for selection of Brazil comprises of the fact that it
is one of the most widely populated country of Latin America thus, lead a wide section of target
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market for a Bicycle and outdoor clothing company that would support higher productivity and
expansion rate (Saari and et. al., 2022). Further, it has been seen and analysed that the use of the
cycle for the transportation purpose as well as for physical exercise has been increased in Brazil
that is booming and enhancing the success and making the market of Brazil most potential and
suitable for the products of a Bicycle and outdoor clothing company. The key set of the
challenges which tend to be faced while conducting current research is associated with the fact
that a higher level of inequality and demographic variation is being seen within Brazil. Along
with this, the higher level of unstable economy that is created because of the spread of recent
global pandemic of Covid-19 has also created many challenges while undertaking current study.
Along with this, Environmental changes is also a vital challenge together with the issues of
inequality that is creating obstacles in current project. Further, the increasing violence force
within Latin American countries that is creating a constant state of uncertainty is also leading
issues in gathering and collection of data (Mariappan and et. al., 2022). Apart from this, while
undertaking and conducting current study many issues and challenges related with the assess and
selection of the target audience has been also faced as its quite difficult to reach out the target
audience because of instability lead out by covid-19 therefore, use and implication of the online
and digital sources has been made. Along with this, many issues and challenges associated with
the ethical concern and maintaining the authenticity and reliability of the collected facts has been
also faced. It was quite difficult and challenging associated with conducting research approach in
selected Latin American country as ethical concern related with anonymity and reliability of
facts along with other ethical concern has been faced while collection and review of data.
REFERENCES
Books and journal
Ashley, S., Schaap, H. and de Bruijn, E., 2022. Illustrating conceptual understanding in
international business undergraduate writing. Research Papers in Education, pp.1-21.
Barnard, H. and Mamabolo, A., 2022. On religion as an institution in international business:
Executives’ lived experience in four African countries. Journal of World Business, 57(1),
p.101262.
Casson, M. and Li, Y., 2022. Complexity in international business: The implications for
theory. Journal of International Business Studies, pp.1-13.
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Chatterjee, S. and et. al., 2022. Global talent management by multinational enterprises post‐
COVID‐19: The role of enterprise social networking and senior leadership. Thunderbird
International Business Review.
Doh, J.P., Dahan, N.M. and Casario, M., 2022. MNEs and the practice of international business
diplomacy. International Business Review, 31(1), p.101926.
Irwin, K. and et. al., 2022. How knowledge and uncertainty affect strategic international business
investment decisions: Implications for cross-border mergers and acquisitions. Journal of
Business Research, 139, pp.831-842.
Madichie, N.O. and Hinson, R.E., 2022. The Creative Industries and International Business
Development in Africa. Emerald Group Publishing.
Mariappan, J. and et. al., 2022. Theoretical Perspective of Role of Technology on Business
Environment. In Integrating New Technologies In International Business (pp. 269-279).
Apple Academic Press.
Osland, J.S., 2022. An Interview with Paula Caligiuri, Pioneer in Global Leadership
Effectiveness Research. In Advances in global leadership. Emerald Publishing Limited.
Saari, M. and et. al., 2022. Social media as a knowledge transfer tool for intellectual capital
accumulation during the international growth of small firms. In Research Handbook on
Knowledge Transfer and International Business. Edward Elgar Publishing.
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