Context: This assessment supports students in developing their skills and knowledge in the...

Question

Context: This assessment supports students in developing their skills and knowledge in the foundational international business strategy topics that include external environmental assessment, problem diagnosis, strategy development, and the consideration of micro and macro-level factorsinfluencing the strategic decision of entering an emerging market. It is expected to equip students with a wellformed view of international business environment and theories to guide the strategic options available to the firms considering international expansion as their next growth path. Instructions: To Successfully complete Assessment 1 you are required to complete Part one (1) AND Part two (2). Part 1: • Locate a small-to-medium sized firm (SME) in Australia. It has to be an SME that has potential to expand internationally. You need to explain what it is and why you believe the firm can compete internationally. • Conduct secondary research on the chosen SME in order to identify key descriptive information on the entity, such as the industry, industry market structure, firm’s competitive position within this industry in Australia, firm’s target market in Australia and overseas (if it already sells overseas). • In addition, you need to identify what is considered an SME in Australia, how different SMEs are from large firms, and what that means for the SME entering an international market. MGT611_Assessment 1_Emerging Market Analysis Page 1 of 7 Please, check relevant literature/trade publications. That also means you need to research the available academic literature on the differences between the two categories of firms and to briefly attempt to relate the outcomes of this research to the firm entering the foreign location you choose. Part 2: • Locate an emerging market you believe is appropriate for the firm to enter. • It should involve the application of a number of the key relevant theories, concepts, and models applicable to analysing international business environment (which will be analysed in your second assignment) and theories relevant to market entry strategy (entry strategy is part of your second assignment). For example, on the environment you may want discuss the OLI framework (Dunning, 1977) or the Institutional theory (North, 1990). Please, note, these are just a couple of examples and you are strongly advised to go beyond just these two theories. Remember, you should be able to relate the theories to the chosenmarket. Suggested format: Whilst the format may vary for your analysis, below is suggested format for you to follow: • Background. Brief biographical on the chosen entity, relevant theory, and national market). Suggest 200 words. • Key Descriptive Information. Suggest 1200 words • The firm and its micro environment, including theory (see above). • The macro environment in which the chosen corporate entity has to operate in one selected national market, including theory (see above). • Conclusion. Your conclusion should mirror your opening recapping highlights that lead to a conclusion. Highlight only the key points that summarise your main pieces of information, which might include presenting new, important facts, projections or a justification for the reader. Suggest 100 words • Reference list. List all sources consulted • Appendix (not mandatory, any material that supports points made in the main body) Note: Assignment 2 will focus on developing an international business strategy for your chosen firm (organisation). A separate written Brief is issued for Assessment 2.

Kuldeep · Accepted Answer

Business
Student Name:
University Name:
Unit Name:
Dat:
Contents
Introduction	3
Part 1	3
Company Overview	3
Industry Analysis	3
PESTLE Analysis	3
Company Analysis	7
Part 2	9
Conclusion	11
References	12
Introduction
The report will evaluate how FYNA maintains its position in the market, its positioning, competitive advantages, and overall views on the company and its products. It will also evaluate the micro-environment and suggest another international market for FYNA to enter to take advantage of its high-quality product line. Related theories will also apply to provide better reasons for FYNA as a multinational company.
Part 1
Company Overview
FYNA was established in the 1940s and has now developed into one of the most well-known brands that provide high-quality sweets. As a family business manufacturing jam in the backyard, it surpassed itself and added new product lines and products. Today, FYNA has more than 600 products and prepares to mass produce 750 tons of essential candies, 1,200 tons of chocolate and many other similar products every year (Buxel et al., 2015). FYNA has 361 companies from Australia that produce chocolates and candies on a large scale. The industry itself is a 6 billion Australian dollar industry with more than 12,000 employees. FYNA also exports its chocolate to Europe and the United States.
Industry Analysis
The confectionery and chocolate industry continues to develop in Australia, dominated by foreign companies including Nestlé and Kraft Foods, accounting for nearly 70% of the industry’s sales, 49% of which comes from Nestlé alone. 
 PESTLE Analysis 
	Factors
	Description
	Political
	· The country’s three structured political frameworks have led to the country’s rapid development and development, leading to the entry of business organizations (Campbell, 2020).      
· The country’s stable political environment promotes economic development, thereby increasing the number of competitors for business organizations.
· Australia’s GDP growth rate has remained at 0.85% on average, which has resulted in the development of business organizations at a faster rate than developed countries such as the United States, Canada and the United Kingdom (Casson, 2009).
	Economical
	· The Australian government's economy is in good shape. It can be seen that the country’s economy has grown by an average of 2% to 2.2% annually.
· According to Bendell (Bendell, 2017), it can be seen that Australia is the 13th largest economy in the world, which is indeed considerable for such a small country ("Colored Poisonous Confectionaries", 1856).
· In addition, since the country’s corporate tax rate is 30%, the country’s economic development is also smooth.
· The import of foreign goods and their proper sales in the country also increase the country’s economy, and the sales of Australian products in foreign countries enable the country to earn higher-value foreign currencies (Devinney et al., 2010).
	Social
	· The health index of the people in this country is very high, so people can keep working and living for a long time. This has led to an increase in commercial competitors in the Australian market.
· In addition, according to Schaltegger & Burritt (2017), it can also be seen that Australia has a unique combination of multiple cultures and different races (Djamaluddin & ., 2018). This has led to the development of different types of business organizations with separate sales strategies and products.
· Various cultural products have increased competition in the country’s market, and strategically underdeveloped companies such as Ernest Hillier Pty Ltd do not exist in the Australian market.
	Technological
	· According to the views of Bondarenkot and others. (2017) technically speaking, Australia is more advanced than many other developed countries in the world. The country has spent over 60 billion Australian dollars on technology development.
· In addition, it can be seen that the country continues to develop in the technical field through the development of its commercial institutions ("Fyna Foods Australia Pty Ltd", 2020).
· The country’s higher education level has improved the ability to include technologically advanced resources in business organizations, thereby increasing product sales and increasing competition in the country’s market.

Context: This assessment supports students in developing their skills and knowledge in the foundational international business strategy topics that include external environmental assessment, problem...

Answer To: Context: This assessment supports students in developing their skills and knowledge in the...

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment