You are an aspiring entrepreneur planning to launch a business in the “current” USA market—one of the most dynamic and competitive consumer markets globally. For students who already run a business
You are an aspiring entrepreneur planning to launch a business in the “current” USA market—one of the most dynamic and competitive consumer markets globally. For students who already run a business, you may explore expanding your existing business to the USA, or alternatively, develop a completely new business idea. To ensure a successful market entry and long-term growth, you are required to conduct a thorough external environment and industry analysis.
Using the PESTEL framework, analyse the macroenvironmental factors influencing the market. Additionally, apply Porter’s Five Forces to evaluate the industry’s competitive dynamics, identifying opportunities, challenges, and key competitive forces. NB: In Week 2, Lectures 1 and 2, the PESTEL framework will be covered, and in Week 3, Lectures 1 and 2, Porter’s Five Forces framework will be discussed. Both frameworks should be applied in your assessment to evaluate the viability of your business entry into the “current” USA market.
LO1 Identify the main challenges and opportunities of undertaking business internationally
LO2 Describe the main aspects of the global business environment.
LO3 Use a basic model to analyse business environments.
LO4 Identify how different business environments could impact on the activities of entrepreneurs
You are required to produce a 1500-word report assessing the entry of a global business into the current USA market. The report consists of 3 parts: Introduction, main body, and conclusion, which are all mandatory. Each section must address the specified requirements, and credible sources must be used throughout.
Part 1: Introduction (200 words | Mark 10% | LO1, LO2) You must address the following in your submission to provide an overview of your chosen business and its proposed entry into the USA market.
• Describe the business, its products or services and the industry it operates in.
• Explain the rationale for selecting this business and why it is considered entrepreneurial in this context.
• State when and how the business will enter the current USA market.
Part 2: Main body (1000 words | Mark 60% | LO1, LO2, LO3, LO4) You must conduct a detailed assessment of the current USA market for your proposed business entry into the USA market. This task requires you to use two critical frameworks to provide a comprehensive evaluation of the macro and competitive environments in the current USA market:
Assess the current macro-environment of the USA market using the PESTEL framework. Based on research, identify and explain two key factors from each PESTEL category that may affect your business entry into the USA.
● Analyse the chosen industry within the current USA market using Porter’s Five Forces framework to examine the level of competition in the industry. Evaluate two facts from each Porter’s Five Forces that impact your business entry, supported by research focusing on the current USA market within the last three years
Part 3: Conclusion (300 words | Mark 20% | LO1, LO4) In concluding your report, ensure you address the following key elements: • Identify and explain two major challenges uncovered during your research that could impact the successful establishment of your proposed business in the U.S. market.
• Provide two strategic, evidence-based recommendations aimed at overcoming these challenges and positioning your business for success, with a clear focus on current trends and dynamics within the U.S. market.
