How the advanced factors of production can be used

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Reference no: EM131725437

Assignment

A. Country Overview - This section should provide an overview of the country with attention paid to the external factors that influence how business in conducted within the country. This includes assessing the economic, political, cultural, legal and technological factors. What is the impact that these factors will have on the entrepreneurial venture? Do these factors present an opportunity or threat to the firm?

B. Applying Porter's Diamond - This section will cover the four parts of the diamond model.

1. Factor endowments - discuss how the advanced factors of production can be used to create competitive advantage for the firm

2. Supporting and Related Industries - Identify spillover effects that create opportunities in the market that firms can use to their advantage. Using SIC, NAICS or SITC codes find the key supporting industries that support the industry for your product or service.

3. Demand condition - Assess the home demand for the firm's product or service.

4. Firm Strategy, Structure and Rivalry - discuss the conditions within the nation that govern how firms are created, structured and managed. All using SIC, NAICS or SITC codes identify local competitors and their position with it the industry.

C. Summary - In the summary section you will want to discuss the how the firms will take advantage of the opportunities made available by the country resources as well as discuss how the firm will deals with threats and risks to doing business in the country.

Market Database and Assessment

You will need to find at least 10 competitors in the country market that you will operate your business. Remember to search for competitors using SIC, NAICS, or SITC codes to ensure that you have direct competitors. Using the Market Database Excel worksheet (attached to the assignment) identify 15 factors to collect data. Decide on factors that will allow you to gain a competitive view of the market and help you determine your strategy in the marketplace. You should consider both primary and secondary sources for gathering the information. Do not forget that government websites can provide some information that can assist you. Be sure to identify the source of the information on the worksheet. Finally, write a one-page assessment of what you have gained from the data collected that will assist you in creating an entrepreneurial venture in the chosen country.

Attachment:- Market-Database.rar

Reference no: EM131725437

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