ECO/561 Russia Entering the World Trade Organization
ECO 561 Week 6
Revise your Week 3 economic analysis using the feedback provided by your facilitator to evaluate the challenges of expanding your company’s production to a foreign market. This will require you to revise previously recommended pricing and non-pricing strategies for your company’s product based on the selected country’s economy’s stage in the business cycle and the projected economic conditions.
- Discuss the evidence that supports your recommendations. Select a foreign market in which to expand your chosen product. Write a paper (including any material you include from your Week 3 assignment) detailing your findings.
- The use of tables and/or charts to display economic data over the time period discussed is highly encouraged.
- Describe current global economic conditions and their effect on local macroeconomic indicators in your selected country.
- Consider forecasts for population growth, GDP growth, GDP per capita growth, export growth, and sales growth.
- Evaluate the competitors’ existing production in the chosen country. Evaluate forecast sales in the selected country.
- Determine the type of economy that exists in your selected country – closed, mixed, or market.
- What is the difference between these types of economies and how might this affect your expansion?
- Describe how your chosen country’s current credit market conditions affect demand for your product or service and your planning or operating decision for your production in that country.
- Analyze the role of the selected country’s central bank on that country’s economy. Evaluate the availability, education, and job skills of the work force in the selected country.
- Discuss the additional challenges of international production, such as political stability, availability of government financing or other incentives, threat of capital controls, and exchange rate risks.
- Discuss any additional supply chain challenges you anticipate if attempting to sell your product made in your chosen country to countries outside of that market.
- Discuss any comparative advantages your company will have over competitors in that country.
- Recommend either for or against expanding your company’s production into your chosen country based on your research.
Cite a minimum of three peer reviewed sources not including the textbook. Format your assignment consistent with APA guidelines.
Pages: 26, double spaced