Individual Report.docx - International Business Individual Report Prestige Worldwide Report into Iceland Prepared for Giant Bicycles INTERNATIONAL

Individual Report.docx - International Business Individual...

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International Business- Individual Report Prestige Worldwide Report - Internationalisation into Iceland Prepared for: Giant Bicycles INTERNATIONAL BUSINESS (MGF2351) INDIVIDUAL REPORT Due: 2 nd June, 2019 Tutor: Glen Croy 1
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International Business- Individual Report Executive Summary The discussion below is going to analyse and address potentially impacting factors for Giant Bicycle, looking to expand their business chain in the industry of Iceland. It is noticed that Giant, the largest global bicycle manufacturer in the world hold a strong presence, reputation and consumer reliability which would be a driving force to accelerate their entrance and development in a foreign country. To determine whether it would make good ‘business sense’, it is crucial to analyse the target audience and the expectations of each segment within Iceland. Identifying that Iceland’s urban population is growing, with a greater emphasis being placed on greener transport, the target market of those who reside in built up urban areas has been selected as most appropriate. Also an importance must be placed on affordability with much of Iceland’s population being of the medium price-sensitive segment. Once analysed attention must be paid to potential competitors that the organisation needs to compete with along with other external factors impacting internationalisation. All which combines to form a logical transnational internationalisation strategy, allowing for local responsiveness to be attended to, but their costs are able to stay down with sufficient supply chains already in place globally. Incorporating a transnational strategy then leads onto succinct an investment into Iceland through a wholly owned subsidiary entry mode. Being able to build from maintain an already strong global presence will be key for Giant in Iceland, and the use of a wholly owned subsidiary would allow for such to happen. Examining all three elements should allow Giant to make the right business play and aim to maintain a sustainable plan moving forward. Table of Content 2
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International Business- Individual Report Introduction: ............................................................................................................................... 4 The target market analysis for the organisation Giant Bicycle: ................................................. 5 The international business strategy the management of Giant Bicycle should follow in order to develop and run their organisation successfully in Iceland: .................................................. 8 Entry mode of Giant Bicycle entering the bicycle manufacturing and retailing industry of Iceland: ..................................................................................................................................... 10 Conclusion: .............................................................................................................................. 12 References: ............................................................................................................................... 13 3
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International Business- Individual Report Introduction: The term globalisation is closely tied with the concept of international business or the expansion of an organisation at the global level. Global business development, on the other hand, involves importing and exporting of products, services, capital, skills, and technology across the national boundaries and at the transitional or international level. Therefore, it can be said that international organisational development is emphasised to ensure sustainable
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