Your Managing Director (MD) has asked you to undertake a study to identify a potential emerging market in Asia, Africa or Latin America that will support the companies next phase of expansion plans. The company is specifically interested in designing new business models, products/services for this chosen market. Your MD is particularly interested in the ‘institutional voids’ that exist in this chosen country and particularly welcome your input and suggestions as to how these could be overcome. Naturally, your MD would be interested to know how you (based on your in-depth understanding and analysis) were able to identify your chosen emerging market and the reasons and justifications in suggesting your innovative business models, products/services for this chosen market.
A TENTATIVE STRUCTURE
Step 1: You have to evaluate the overall attractiveness of an emerging market of your choice at the country level in which the selected company is not yet active. You can do this in terms of cultural or administrative distance or any other suitable criteria (see checklists provided in Moodle) that is relevant for your chosen company.
Step 2: Now identify some of the ‘institutional voids’ within this chosen emerging market. You might want to use the World Economic Forum Global competitiveness Index. World Bank, IMF or OECD studies to identify the ‘institutional voids’ existing in the country. Select the ‘voids’ that would have the maximum impact on the operations of your chosen company. Naturally, you would like to choose only those ‘voids’ that can be resolved by the company and not macro country level voids that are more within the remit of the government.
Step 3: Research and identify business models, products or services adopted by other comparable companies either in the chosen emerging market or any other emerging market that address or overcome these ‘voids’. You might also refer to peer-reviewed journals and academic articles that have suggested ways to overcome these ‘voids’.
Step 4: THE CONCLUSIONS Finally, you provide a recommendations/ strategies how your chosen company can enter this chosen emerging market. Your MD would naturally expect you to provide specific recommendations and steps the organization should take to implement this plan.
THE WORD LIMIT & DEADLINE
The word limit for the report is 2500.