Assessment Task 2: Opportunity Description and Country Assessment Subject: GLOBAL ENTREPRENEURSHIP In 2014 emerging markets accounted for 36% of the global GDP, while 2025 emerging market forecasts...

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Assessment Task 2: Opportunity Description and Country Assessment



Subject: GLOBAL ENTREPRENEURSHIP






In 2014 emerging markets accounted for 36% of the global GDP, while 2025 emerging market forecasts indicate a US$30 trillion opportunity (Mahmood, 2014). Yet most Multi-National Corporations (MNCs) still mainly target the top-end of markets with premium products, neglecting those consumers at the middle and base of the income pyramid. As recently as 2014, MNC earnings from emerging markets were estimated to be only 17% of total revenue (Mahmood, 2014). Consequently, there is great opportunity for established and start-up firms to redesign existing products or services, or design brand new products or services that meet the specific needs of consumers in emerging or developing markets.



Against this background each team must identify a new product/service opportunity* in either developed, emerging or developing markets for which they must develop a for-profit business model.The product or service can be an existing concept that is already available somewhere in the developed world, which teams may want to introduce in a new market with or without modifications to suit local conditions, or it can be completely novel.


Task 2 consists of two parts.



Part 1describes in as much detail as possible and as appropriate, the problem that the team will attempt to solve with their (eventual) solution, in other words, and the opportunity they want to pursue. Please note that the team, consisting of one to four students, shall work together on this section and each member shall submit the exact same problem description in their individual report, and therefore obtain the same mark as the other members for Part 1. If individual group members do not contribute equally towards Part 1, the Group Leader must inform the course Coordinator who shall adjust marks accordingly.


InPart 2
each member of the group must select a different country and prepare a comprehensive country and industry assessment for the group’s chosen opportunity.
Each member will be marked according to how well he/she has assessed the conditions in the chosen country and how it might impact implementation of the project. Later, at the start of Task 3, the group will decide which (one) country is the most suitable and feasible for pursuing the chosen opportunity. For the purpose of this assignment we shall limit activities to a single country even though a multi-country strategy could be appropriate.



Suggested format


Each student must write a report of between 1,000 and 1,500 words consisting of the main sections below in which you must address the bullet points (use as a guide only). Justify everything in as much detail as possible and make use of appendices where appropriate to improve readability.


1.
Introduction (5%)


· Provide some context for this opportunity.


· Explain the purpose of the report.


· Provide an overview of your methodology and approach.






The Opportunity (Part 1) (500 words) (15%) (Please refer to the power point I upload it for you to understand what the project is all about, and also the rubric for this part)



1.

Who is your target market(s)? (
the target market is

developed countries based on the product characteristics)


· List the segments you are targeting in order of importance and explain the rationale. (A target market is a particular group of consumers at which a product or service is aimed.)


· Describe on what basis you are doing your segmentation. Visithttps://www.thebalancesmb.com/target-marketing-2948355(Links to an external site.)Links to an external site.for clarification. What are the common characteristics that people in your segments share? Although you are not yet developing marketing strategies, knowing who your target markets are will benefit you tremendously at a later stage when you attempt to reach them with your marketing campaigns.




2.
What is the identified problem in the target market? (Problem: Over waste water issue)


· Briefly discuss the problem(s) that each of your segments that you are targeting are experiencing. Does the problem vary among segments or is it the same? Conduct desk research and provide supporting evidence from secondary data sources. Be sure to include proper citations and a list of references. Not using EndNote yet? Then now’s your chance to make life easier when citing sources:https://www.rmit.edu.au/library/research/endnote-managing-your-references(Links to an external site.)Links to an external site..


· PLEASE DO SOME DESK RESEARCH.


·
**Desk Research


· Desk research is a term that is used loosely and it generally refers to the collection of secondary data or that which has already been collected. To most people it suggests published reports and statistics and these are certainly important sources.


· • Books


· • Periodicals / Magazines


· • Web pages


· • Databases


· • Indexes


· • Newspapers


· • Online articles


· • Information brokers


·


·
**MORE DETAILS ON HOW TO USE THE DESK RESEARCH (SEE ON GLOBAL ESHIP WEEK 5 COUNTRY ASSESSMENT PDF, PAGE 11)


·
**Also see page 14-22 in the Global Eship week 5 country assessment pdf for useful web resources.



3.
What are the perceived needs of your target market?


· Based on the problems you identified, break down the specific needs and wants of your target segments. Once again be sure to cite your sources. Useful resource:https://study.com/academy/lesson/the-difference-between-wants-vs-needs-in-economics.html(Links to an external site.)Links to an external site.


· Are you aware of anylatent needsamong your segments?

https://info.go-further.co/furthermore/latent-needs-can-deliver-the-products-and-services-of-tomorrow-using-qualitative-research(Links to an external site.)Links to an external site.


4.
What existing product or service do you want to use ‘as-is’ or re-design for your overseas market? (if applicable)


· Provide a brief overview of what existing solution(s) exist somewhere in the world that could possibly form the basis for addressing your target markets’ problems.


5.
What new product or service do you want to design for your overseas market? (if applicable)


· Provide a brief overview of what new solution you are thinking to develop that could possibly address your target markets’ problems.



IMPORTANT NOTE for 4 and 5:Provide a broad (high-level) description of your proposed solution as at this point in time you are only at the concept stage.



Country and Industry Assessment (Part 2) (20%) (Chosen country: CANADA)


As explained in the Course Assessments document this section of Task 2 must be completed individually. If time permits in week 5’s tutorial, individual team members can already start with collecting information about the particular nation in which their target market resides that they consider targeting. This activity will continue in Week 6’s tutorial.



Entrepreneurial Opportunity Environment: (Referred to as the in-country conditions that create opportunities for entrepreneurs.)During week 2’s tutorial you already explored the use of this toolhttp://www.doingbusiness.org/en/rankings(Links to an external site.)Links to an external site.for countries in general. Now is your chance to apply it to collect a variety of external environment information about your particular country.



· What are the country characteristics that potentially impact your project? (Politics, economics, culture, geographic, environment, technology, legal and banking). Provide brief explanations.


· Conduct an industry and competitive analysis and discuss the implications on your proposed venture.


· Identify and discuss the key country assumptions and risks that might impact your venture.


(FOR MORE DETAILS ABOUT THE RISK PLEASE HAVE A LOOK AT
GLOBAL ESHIP WEEK 5 COUNTRY ASSESSMENT PDF, PAGE 23-34)


· Identify and discuss the key success factors for your project in your target country.


4.
Conclusion








** ALSO, HAVE A LOOK AT THIS LINK DOWN BELOW (IT’S IMPORTANT)



http://www.yourhome.gov.au/water/wastewater-reuse
(status-quo for the household water reuse)



https://greyter.com
(water reuse system)



https://www.livetribe.com/blog/water-wastage/
(water wastage)



https://www.coolaustralia.org/water-footprint-how-people-use-fresh-water-2/



https://www.ted.com/talks/michael_pritchard_invents_a_water_filter



https://greywateraction.org/greywater-reuse/



http://sinkpositive.com/web/



https://www.livemint.com



https://waterislife.com/impact/clean-water/



https://www.statista.com/statistics/263156/water-consumption-in-selected-countries/



https://waterfootprint.org/en/resources/waterstat/



https://www.watercalculator.org/footprints/water-footprints-by-country/



http://www.waterfootprintassessmenttool.org/national-explorer/



http://www.pitt.edu/~tlw58/trends.html
(drawback of the drinkable book)


Answered Same DayApr 12, 2021BUSM4054

Answer To: Assessment Task 2: Opportunity Description and Country Assessment Subject: GLOBAL ENTREPRENEURSHIP ...

Amar answered on Apr 17 2021
139 Votes
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Running Header: Assessment Task 2 – Opportunity Description & Country Assessment
2
Assessment Task 2 – Opportunity Description & Country Assessment
Assessment Task 2 – Opportunity Description & Country Assessment
Table of Contents
1.    Introduction    3
2.    Part 1 – The Opportunity    3
Target Market    3
Identified Problem    4
Perceived Needs    
4
Product / Service Design    5
3.    Part 2 – Country Assessment    6
4.    Conclusion    8
References    9
Introduction
The global economy drives and enables for the wider distribution concerning the goods amongst continents. In this context, the emerging and developing markets represents the economy which is not fully developed yet (Marquis and Raynard 2015; Meyer and Peng 2016). The people living in the emerging / developing markets usually have significant resources to offer as well as large relatively untapped consumer base therein offering key opportunity for companies in setting up a presence and using these opportunities to develop and grow (Marquis and Raynard 2015; Meyer and Peng 2016). However, the same does not preclude developed nations as a market opportunity, and some of the developed markets offer business opportunity as good as that of emerging / developing markets.
This report presents a detailed business focussing on waste water management in the developed market of Canada discussing in detailed the business opportunity being focussed upon and the assessment of the country identified, that is, Canada, in the context of pursuing this business opportunity.
Part 1 – The Opportunity
Business Idea & Target Market
After water is used, the same goes right in inside the sewage pipeline, then to the sewer, and finally mixing the water bodies once treated in the sewerage plants. The same however requires a dependency on the natural process of evaporation for making the water to be potable again (Renner 2016; Chhipi-Shrestha et al. 2017). The business idea that is focussed in this report is the service of waste water management.
In assessing the global markets to pursue this business idea, it can be noted that developed nations which have high levels of water footprint and hence ones that offer great business opportunity in this context include the following – United Arab Emirates (“UAE”), United States of America (“USA”), and Canada. Of these markets, Canada offers a more ideal opportunity on account of relatively better resource accessibility and significant consumer base (WFN 2018). Further, given the nature of the business model, the scope of consumer target shall span people in all social statuses.
In essence, with respect to the geographical segmentation Canada as a national market is identified to be targeted for the business, and with respect to psychographic segmentation consumer groups spanning people from all social statuses shall be targeted.
Identified Problem
Water represents a highly precious commodity and yet significant amount of potable water gets wasted on a day to day basis and Canada is no exception to this case. In essence, people use potable water for even activities which do not require it like that of showering, washing cars, laundry, and even to flush toilets.
Perceived Needs
At present, the water management needs are addressed in a limited manner with grey or waste water is treated and used solely for toilet related needs as well as for outdoor purposes. These are the scope of services that are offered by...
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