Factors affecting the success of marijuana business

In your paper you should analyze and synthesize how the following variables may impact the success of this business venture/opportunity.1.The political, economic and legal systems of the country in which you are researching2.The culture, ethics, norms (rules of the game), and values3.The trade policies that may be important to your selected product and/or service4.The FDI (foreign direct investment) policy of the host country5.Any participation in regional or global economic integration (trade treaties, barriers to trade)6.Business strategies and target market planning7.Possible competition8.Demand AnalysisYou should also consider the following questions:1.What strategy and/or tactics will you utilize and why?2.How will you enter the foreign market and why?3.How will you produce your product/service and why?4.Where will you produce your product/service and why?5.How will you distribute your product/service and why?6.If you conduct research and development, how will you do it?7.How will you manage exchange-rate risk?8.What overall marketing strategy will you use?9.What risks will you encounter?Things you should do: 1.Write an original work that includes your critical thinking2.Argue both pros and cons of your business opportunity3.Reason with supporting evidence (reference)4.Be quantitative, use graphs, figures and tables to help explain.5.Use APA formatting6.Proofread, proofread, proofread Things you shouldn t do:1.Plagiarize2.Accumulate and write redundant, irrelevant information3.Brainstorm ideas without appropriate supporting evidence4.Make obvious grammatical, wording and sentence mistakes that detract from the quality and credibility of your work Weekly GuidelinesI.IntroductionA. Brief description of your company and your product or serviceB. Why you choose the specific country or region? It could be:Natural resources, agricultural products, or geographic factors (climate or terrain)Level of economic development and infrastructureCultural characteristics, social activities, or demographic trendsChanging political situations or legal factorsTechnology that may enhance production or distribution of an itemII.Global Business Opportunities Analysis:2.1 The company:Research the international operations of a company doing business in several countries. Obtain information related to:the products sold in various regions of the worldcurrent and planned business activities in specific regions of the world Asia, Africa, Eastern Europe, Middle East, Latin Americathe company s strengths and weaknesses related to global business activitiesFuture actions that might be suggested for the company s international operationsDemand analysis: Analyze the potential demand for this product (or service) based on the current and expected market 2.2 The country:Accessing the Economic-Geographic EnvironmentBased on the country (or countries) you are analyzing for your global business enterprise, research information related to the following areas:1.MAJOR PRODUCTS AND INDUSTRIESDescribe the country s:a)main natural resources and agricultural productsb)major industriesc)major importsd)major exports2.CURRENT ECONOMIC CONDITIONSAssess the country s recent economic conditions related to GDP, inflation, interest rates, currency value, personal income, and employment. Suggest how these economic factors may attract or deter foreign investment.Product and Target Market Planning1.PRODUCT CONCEPTIdentify the physical attributes, customer benefits, and competitive advantages of the product (or service) to be offered by the organization. Analyze geographic, economic, cultural, and legal factors that would influence offering a standardized or an adapted product for this market. 2.PRODUCT LIFE CYCLEDiscuss economic, cultural, political, or technological factors that might affect the speed of movement of the product (or service) through the stages of the product life cycle (introduction, growth, maturity, and decline).3.TARGET MARKETDescribe the characteristics of potential customers in terms of geographic location, demographics, media habits, consumer behavior patterns, lifestyle activities, and psychographics.Analyzing International CompetitorsAs proposed enterprises or established companies enter foreign markets, lessons can be learned from the successes and challenges of other organizations. In addition, awareness of competitors makes it possible to better plan and implement your global business activities. In this section, your goal is to identify and analyze the international business operations of organizations related to the global opportunity you are exploring.1.A discussion of potential competitors and their global business activities.2.A synopsis of global business strategies that could create competitive advantages3.Compare your pricing plans with those of any competitors that may be providing identical or similar products or servicesBusiness Risk Analysis??III.Conclusion and RecommendationsIV.Reference

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