Companies frequently blunder as they internationalize their operations because they fail to obtain vital information related to the particular country being targeted. A foreign country’s linguistic and cultural ties, as well as past political associations, play an important role in world trade and investment. Companies that do not have a good understanding of a country’s basic culture, economy, market characteristics, and politics may hamper their profit-making capabilities and in certain cases, actually condemn a venture to failure. They can avoid making serious blunders by taking the time to carefully explore a country’s current and past political, economic, geographic and cultural environment. Once a company has a good understanding of a marketplace, it can develop a market entry strategy that will minimize potential blunders.
Consider yourselves business professionals hired by a Company to conduct a foreign market analysis, make recommendations, and suggest entry strategies that could be used.
The list of foreign markets chosen for this project includes is Russia
This assignment will require you to undertake significant research. All information in your project must be supported with reference to specific resources. Some resources will be suggested, but part of the project will be for you to get creative with the use of the Internet. Here are some information sources which will help you get started:
Develop answers to each of the following questions on your assigned country and integrate them into your presentation (Russia):
1. What type of legal system does the country have? Is it generally viewed as honest and fair by local citizens? Apply the Corruption Perception Index.
2. How vulnerable to political risk are foreign firms operating in the country? What types of political risk do they face?
3. What is the GDP of the country? What is its per capita income? How important is agriculture? How important is manufacturing? Name other principal industries.
4. How high is inflation, the unemployment rate, and public debt?
Some countries will require more research than others to find the necessary information. Not all information will be available on all countries but your job is to gather as much relevant information as possible about your market. You may find information other than what it asked for above, which you wish to include because it is more relevant to your particular country.
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