Assignment: Strategic Planning- International Expansion
1. Provide background information about MidwayUSA, including the industry sector in which the company operates, products, and target market.
2. Identify and present "a" viable opportunity for MidwayUSA to expand into an international market
3. Explain what strategic planning is and why it is important to a company. Give a practical example and synthesize strategic management theories, principles, and concepts.
4. Provide reasoning why MidwayUSA should enter the chosen international market, using strategic management theories, principles, and concepts.
5. Conduct a search on the chosen international market. Explain the complexity of entering the chosen international market using the diamond of national competitive advantage
6. Identify and explain which of the three main approaches to international strategy is most appropriate for MidwayUSA to employ as it expands into the chosen new market.
7. Explain the cross-border strategic moves MidwayUSA faces by expanding into the international market.
8. Explain the value of expanding into the chosen international market from the perspective of diversification strategy.
9. Explain whether it is best for MidwayUSA to acquire an existing business, engage in corporate venturing, or establish a joint venture to enter the chosen international market.
10. Develop and present SMART goals that can drive MidwayUSA to successfully enter the chosen international market.
11. Explain if MidwayUSA should diversify into a related, unrelated, or related-unrelated business. Explain the strategic thought process behind this decision.
12. Provide three recommendations on how the diversification strategy can be profitable for MidwayUSA.