Question: In this first phase of your Global Business Plan Project, you will conduct a preliminary assessment of global business opportunities in foreign markets. In addition, you should consider how technology could create new foreign business opportunities by expanding possibilities for production, marketing, and distribution of goods and services. Recommend one or more foreign business opportunities (with a specific foreign market) for an existing company or a new enterprise. Your paper should contain each of the following sections:
1. Potential Markets
- Discuss one or more of the global business opportunities from your research in terms of:
- A specific product or service, including customer benefits: and
- A potential market - a country that would be appropriate for this business opportunity.
2. Absolute and Comparative advantages
- Analyze for the presence of an absolute or comparative advantage that might be related to a business opportunity in the country where the item will be produced or sold. Describe how this analysis might influence the success of your proposed business idea.
3. Business Opportunity Analysis
- Analyze your proposed business opportunities based on factors such as foreign market potential, start-up costs, and foreign business risks.
4. Potential Competitors
- Identify companies that:
- Have business activities similar (or related) to the business opportunity you are proposing; and
- Operate in the country (or countries) that you are considering for your international business enterprise.
5. Competitive Advantages
- Discuss the competitive advantages of these companies.