Identify a product or a service from your organisation or an organisation that you are familiar with, and write a report evaluating the potential for the international expansion.
I would like you to research a local insurance brokerage firm within Australia (can be any of your choosing) and research how to enter the Sri Lankan market, noting the legislative requirements and research on how insurance products are sold and marketed within Sri Lanka.
If you cannot find a local firm, please simply outline a new company based in Australia expanding into Sri Lanka.
For this assignment, you are required to evaluate one potential market. The following points need to be included within the report:
A clear description of the organisation, the product or the service, and the reason for international expansion
An analysis of the market in terms of: political, economic, financial, legal and cultural factors
Based on the analysis recommend a general strategy that the organisation should adopt (e.g. international, localisation, global standardisation and transnational strategy)
Recommend a choice of entry mode for the chosen international market justifying your decision (e.g. exporting, turnkey project, licencing, franchising, joint venture, merger and acquisition, strategic alliance and wholly-owned subsidiary).
For this assignment, you are expected to use the relevant International Business (IB) concepts and theories by consulting a variety of academic and/or industry sources and providing in-depth analysis and insightful recommendations. The report should therefore provide a balanced reflection of the overall prospects for successful international expansion.
Important Assignment Instructions
The required word length for this assignment is 2500 words (plus or minus 10%).
All references must be from credible sources such as books, industry related journals, magazines, company documents and recent academic articles.
Your grade will be adversely affected if your assignment contains no/poor citations and/or reference list and also if your assignment word length is beyond the allowed tolerance level