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Factors affecting the success of marijuana business

Question Description

In your paper you should analyze and synthesize how the following variables may impact the success of this business venture/opportunity.

1.The political, economic and legal systems of the country in which you are researching

2.The culture, ethics, norms (rules of the game), and values

3.The trade policies that may be important to your selected product and/or service

4.The FDI (foreign direct investment) policy of the host country

5.Any participation in regional or global economic integration (trade treaties, barriers to trade)

6.Business strategies and target market planning

7.Possible competition

8.Demand Analysis

You should also consider the following questions:

1.What strategy and/or tactics will you utilize and why?

2.How will you enter the foreign market and why?

3.How will you produce your product/service and why?

4.Where will you produce your product/service and why?

5.How will you distribute your product/service and why?

6.If you conduct research and development, how will you do it?

7.How will you manage exchange-rate risk?

8.What overall marketing strategy will you use?

9.What risks will you encounter?

Things you should do:

1.Write an original work that includes your critical thinking

2.Argue both pros and cons of your business opportunity

3.Reason with supporting evidence (reference)

4.Be quantitative, use graphs, figures and tables to help explain.

5.Use APA formatting

6.Proofread, proofread, proofread

Things you shouldn’t do:

1.Plagiarize

2.Accumulate and write redundant, irrelevant information

3.Brainstorm ideas without appropriate supporting evidence

4.Make obvious grammatical, wording and sentence mistakes that detract from the quality and credibility of your work

Weekly Guidelines

I.Introduction

A. Brief description of your company and your product or service

B. Why you choose the specific country or region? It could be:

  • Natural resources, agricultural products, or geographic factors (climate or terrain)
  • Level of economic development and infrastructure
  • Cultural characteristics, social activities, or demographic trends
  • Changing political situations or legal factors
  • Technology that may enhance production or distribution of an item

II.Global Business Opportunities Analysis:

2.1 The company:

Research the international operations of a company doing business in several countries. Obtain information related to:

the products sold in various regions of the world

current and planned business activities in specific regions of the world—Asia, Africa, Eastern Europe, Middle East, Latin America

the company’s strengths and weaknesses related to global business activities

Future actions that might be suggested for the company’s international operations

Demand analysis: Analyze the potential demand for this product (or service) based on the current and expected market

2.2 The country:

Accessing the Economic-Geographic Environment

Based on the country (or countries) you are analyzing for your global business enterprise, research information related to the following areas:

1.MAJOR PRODUCTS AND INDUSTRIES

Describe the country’s:

a)main natural resources and agricultural products

b)major industries

c)major imports

d)major exports

2.CURRENT ECONOMIC CONDITIONS

Assess the country’s recent economic conditions related to GDP, inflation, interest rates, currency value, personal income, and employment. Suggest how these economic factors may attract or deter foreign investment.

Product and Target Market Planning

1.PRODUCT CONCEPT

Identify the physical attributes, customer benefits, and competitive advantages of the product (or service) to be offered by the organization. Analyze geographic, economic, cultural, and legal factors that would influence offering a standardized or an adapted product for this market.

2.PRODUCT LIFE CYCLE

Discuss economic, cultural, political, or technological factors that might affect the speed of movement of the product (or service) through the stages of the product life cycle (introduction, growth, maturity, and decline).

3.TARGET MARKET

Describe the characteristics of potential customers in terms of geographic location, demographics, media habits, consumer behavior patterns, lifestyle activities, and psychographics.

Analyzing International Competitors

As proposed enterprises or established companies enter foreign markets, lessons can be learned from the successes and challenges of other organizations. In addition, awareness of competitors makes it possible to better plan and implement your global business activities. In this section, your goal is to identify and analyze the international business operations of organizations related to the global opportunity you are exploring.

1.A discussion of potential competitors and their global business activities.

2.A synopsis of global business strategies that could create competitive advantages

3.Compare your pricing plans with those of any competitors that may be providing identical or similar products or services

Business Risk Analysis??

III.Conclusion and Recommendations

IV.Reference

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