Task 3: P6, M2, D2ScenarioBBCs Panorama is creating a documentary on international business strategy and has approached Toyota requesting an interview with someone who is able to provide an expert opinion. Your manager has recommended you for the job. Your manager has asked you to carefully research the issues below and report back to him before you take part in the interview. LO4: P6 explain the business strategies used by a business operating internationallyLO4: M2 explain the strengths and weaknesses of a business strategy used by a specified business operating internationallyLO4: D2 evaluate the success or failure of a business strategy used by a business operating internationally P6Select an international business and research its international business strategy. Consider the questions below to help guide your research and explain how the strategy has made the business successful Which new markets (countries) has the business entered? Why? How has the business adapted its products to suit different markets (countries) Has the business merged/taken over another business? Which business? How did the merger/take over benefit your chosen business? International business strategy: How?o External growth: joint ventures, acquisition/ take over, mergero Internal growth: changing marketing mix, new product development (diversification) Why?o Entering new/ emerging markets increase market size, increase saleso Increase market share, market growth,o Diversification range of products to meet needs of different market segments, increases demand/ helps spread risko Branding improve brand recognition, benefit from increased brand power, benefit from first entry to an emerging marketo Outsourcing to reduce costs/ improve access to raw materials/expertiseo Economies of scale: mass production of standardised products enables businesses to reduce average costs of productiono Use of technology and the interneto Benefit from a more lenient taxation system Possible businesses to choose from: Toyota: see Tesla joint venture EE: See T-Mobile + Orange merger. Also, recent bid by BT to buy EE Kraft: recent merger with Heinz and Kraft take over of Cadburys McDonalds emerging markets. Also explore relationship with Disney & Coca Cola Coca Cola entry to India see pesticide scandal M2 D2In groups of no more than 3 you need to create a short documentary to explore the strengths and weaknesses of the international business strategy used by your chosen business. 1. The benefits of the strategy -how has the strategy helped to improve the businesss ability to operate on an international scale? 2. The weaknesses of the strategy what difficulties has the business had to overcome to implement the strategy? Has the business opened itself up to increased risk? (e.g. do they have the experience/ capacity/ expertise needed to operate in the new market/ segment? Have they opened themselves up to increased competition from more experienced competitors? When assessing the success/failure of the strategy, you should consider the similarities and differences between new and existing areas of operation, types of activity, and the importance of the international activity to the business. To add depth to your evaluation you are advised to include interviews from a range of stakeholders in your documentary. Your documentary should last no longer than 5minutes and be submitted electronically, uploaded onto Frog.D2 Evidence to submit1. Electronic copy of documentary2. Supporting notes3. Reference listMAKE SURE ALL RESEARCH IS CLEARLY REFERENCED IN YOUR DOCUMENTARY CREDITS For the purpose of this task – to enable me to complete the interview section of the task, I will require a script with the interview questions and answers . The assignment brief can also be found on page 10 of the attached file.
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