Your homework for this unit is to create a proposal to garner support from partners in your family business. You are an up-and-coming manager in your family business, which is run by older family members who are sometimes stuck in a small business mentality. You have an idea that you feel can take the business international and greatly increase sales. In order to do so, you need to create and present a proposal to get support and funding for your new company venture.
Choose a name for your company and a product that interests you. For instance, if you are interested in fashion, come up with a fashion company name and a name for your new product. Do some basic research on your target market, and choose how you want to go international (e.g., exporting, licensing, joint venture, direct investment). Think of the project as if you are pitching your idea at a board meeting.
This is not a formal business plan where you need 10 pages of facts and figures. Instead, this is a proposal where you are trying to get buy-in from other family members in the business. Accordingly, create a PowerPoint presentation with at least 10 slides to present your proposal. Make it visually appealing by including at least two images, charts, or visuals.
Include the following components in your presentation.
I. Describe the type of business product or service.
II. Explain the business objective of the international venture. What is the need?
III. Analyze and describe your target market for the international expansion.
IV. Explain the dominant cultural characteristics in the region where you want to expand. Explain your chosen method of going international. Show options for finding new customers, distributors, production facilities, and/or partners.
V. Describe training and knowledge needs for the international venture. How will you prepare managers for intercultural management in a new region?
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, and typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.