Project 5 International Business Plan

Project 5: Creating an International Business Plan Start Here

Scenario

You continue to provide promising global strategy advice for MediCorp, Inc. The company has been so pleased with your contributions to their strategic planning and development that they would like you to assist with a new endeavor. Leveraging their strength in manufacturing genetic testing devices, MediCorp now wants to diversify their offerings and expand within the field of medical devices. This is a large field that extends to a myriad of products. MediCorp has asked you to identify a medical device that the company can use as a vehicle for expanding into another country. Choose from the list of medical devices and countries provided and note your choice in the ‘Project 5: Choice of Medical Device and Country’ discussion area. (Electric wheelchairs/Brazil)

Choose a country as a location for MediCorp’s expansion and create an international business plan that guides the company’s operations in that country and grows MediCorp’s business within the selected device’s NAICS industry subsector. You will need to employ one of the strategy selections from   Eight Strategies in Capsim (The Global strategy for this project is: Global Niche Cost Leader; see attachment) that examines MediCorp’s potential customers, business operations, financial projections, and implementation metrics. As this client’s business grows, Maryland Creative Solutions CEO, Jillian Best, emphasizes that it is critical for you to provide clear and concise analysis in your reports to MediCorp. She remarks, “Success with these reports could mean big things for MCS as well as for each of you. Let’s finish strong.”

Introduction

Building on the lessons from your Capsim simulation and your analyses of MediCorp, Inc. in the global and local markets, you will now craft an international business plan that calls on you to devise a marketing strategy, develop financial projections, and create a strategy implementation plan for the company to market a new product in another country by relocating one or more activities from MediCorp’s value chain in the United States to your selected country.

You will have two weeks to develop your international business plan.

To get started, Click Step 1: Assess the Characteristics of MediCorp’s Potential Customers in the Selected Country.

 

Competencies

Your work will be evaluated using the competencies listed below.

· 1.1: Organize document or presentation clearly in a manner that promotes understanding and meets the requirements of the assignment.

· 1.2: Develop coherent paragraphs or points so that each is internally unified and so that each functions as part of the whole document or presentation.

· 1.3: Provide sufficient, correctly cited support that substantiates the writer's ideas.

· 1.6: Follow conventions of Standard Written English.

· 2.2: Locate and access sufficient information to investigate the issue or problem.

· 2.3: Evaluate the information in a logical and organized manner to determine its value and relevance to the problem.

· 2.5: Develop well-reasoned ideas, conclusions or decisions, checking them against relevant criteria and benchmarks.

· 3.1: Identify numerical or mathematical information that is relevant in a problem or situation.

· 5.1: Develop constructive resolutions for ethical dilemmas based on application of ethical theories, principles and models.

· 5.3: Create, implement, and evaluate a personal leadership development plan.

· 6.2: Evaluate strategic implications for domestic and international markets of an organization's industry.

· 6.4: Develop and recommend strategies for an organization's sustainable competitive advantage.

· 7.1: Analyze the legal forms of business organization and make recommendations to support business decisions.

· 7.4: Analyze the impact of international and foreign laws on US organizations acting domestically and abroad.

· 9.1: Design organizational structure, systems and processes that support the strategic goals of the organization.

· 10.1: Apply relevant microeconomics principles to support strategic decisions for the organization.

· 10.3: Determine optimal financial decisions in pursuit of an organization's goals.

· 10.4: Make strategic managerial decisions for obtaining capital required for achieving organizational goals.

· 10.5: Develop operating forecasts and budgets and apply managerial accounting techniques to support strategic decisions.

· 12.3: Prepare marketing plan for a new product/service.

· 13.2: Create and implement new initiative or enterprise.

· 13.3: Create and manage new enterprise.

Step 1: Assess the Characteristics of MediCorp's Potential Customers in the Selected Country

Subject:  Marketing Plan From:      Jillian Best, CEO, MCS To:           You

Hi,

Let us continue crafting an international business plan for another country.

First, select a country from the list in the discussion area as a new market for MediCorp to expand into, and decide on a medical device from the list that MediCorp can use to drive expansion. To help with your analysis of the industry, you will need to identify the NAICS code (see attachment) for the industry subsector to which your selected  device belongs. Then, begin to develop a six- to seven-page marketing strategy for MediCorp.

As you begin your marketing strategy for MediCorp, first analyze the characteristics of the company’s potential customers in the new market and address the international cultural differences (see attachment)

I’ll send additional instructions shortly about how to analyze MediCorp’s own characteristics and how those characteristics will influence this marketing strategy.

Thanks for your hard work!

Jillian

When you have assessed the characteristics of MediCorp's potential customers for your selected medical device in a country, continue to the next step, where you will work on expanding MediCorp’s product base in the selected country by accounting for MediCorp’s mode of entry.

You will incorporate your recommendations from Step 1 and Step 2 into a six- to seven-page marketing strategy that will be submitted for feedback at the end of Week 9.

Step 2: Develop a Marketing Strategy

Subject: Marketing Strategy

From:     Jillian Best, CEO, MCS

To:          You

Now that we know more about MediCorp’s potential customers, we need to examine some key attributes of the company to adequately prepare it for international expansion.

Include the following components in your marketing strategy:

· Your new medical device for MediCorp is Electric wheelchairs to be introduce to Brazil

· MediCorp's main competitors in your selected medical diagnostics devices industry in the selected country

· market and segment growth of your selected medical device over the next three years in your selected country.

· Where does MediCorp add value as a way of gaining a competitive edge?

· Recommendation of relocation of one or more activities from MediCorp’s value chain in the United States to your selected country, using Porter’s Value Chain analysis.

· the legal business entity to market the products in the country (review Modes of Entry for help)

· impact of the country’s legal, ethical, and cultural standards on MediCorp’s operations in the country (review Governance and Accountability for more information)

Jillian

By the end of Week 9, submit your six- to seven-page marketing strategy to the Assignments folder. Your marketing strategy should include all components outlined in Step 1 and Step 2.

Then, continue to the next step, where you will consider the client’s financial projections and the accounting standards in the selected country.

Step 3: Make Financial Projections in the Selected Country

As you continue to work on your international business plan prepare market share estimates for MediCorp’s medical device in the selected country and revenue forecasts for the next three years.

This analysis will form a portion of your final international business plan. In the next step, you’ll examine another element of the business plan, strategy implementation.

Step 4: Prepare Strategy Implementation Plan

The next step is to specify the major factors to be tracked for strategy implementation using the four perspectives of the balanced scorecard (see attachment): the learning and growth perspective, business process perspective, customer perspective, and financial perspective.

Next, you will combine your marketing strategy and your financial, governance, and implementation analysis into a final report.

Step 5: Complete Your Final Business Plan

Subject:    Final Business Plan

From:        Jillian Best, CEO, MCS

To:             You

It’s been a pleasure working with you on this project. I’m looking forward to seeing the final deliverables.

The international business plan should be 10–12 pages, excluding cover page, executive summary, reference list, and appendices. Any tables, graphs, and figures should be included as appendices. Your plan should have one-inch margins and be double spaced in 12-point Times New Roman font. In-text citations and references should abide by APA format. The plan should be organized using headings and subheadings to improve its readability.

Your final international business plan should include the components outlined in the international business plan template. (See attachment)

Congrats!

Jillian

Your final international business plan should include key findings from your marketing strategy (Steps 1–2) and financial projections and strategy implementation (Steps 3–4). It should also include an executive summary

Submit your final business plan to the Assignments folder. Then proceed to the next step.

Step 8: Submit Your Work

Take note of the recommended delivery dates and file-naming protocols in the table:

Deliverable	File-naming protocol
Marketing strategy	lastname_firstname_Project5_Marketing_strategy.docx
International business plan	lastname_firstname_Project5_International_business_plan.docx