Doing Business in BRICS Nations
BRICS countries representing Brazil, Russia, India, China, and South Africa are emerging economies that make up approximately 42% of the world’s population and 27% of the global GDP. With the increase in globalization and the interconnectedness of nations, businesses, and people, your challenge this semester is to choose one BRICS country to research for your term paper.
For this assignment, you will act as an international business consultant offering advice to an (imaginary) American company called SOLA that produces self-driving solar powered vehicles. The company uses innovative 3D printing techniques to produce the cars that are priced at 10,000 USD. The cars have a range of 100 miles per charge and are small in size, fitting only two people. The interiors are basic providing minimal comforts yet have high safety standards by integrating proprietary artificial intelligence software.
The company is looking to expand overseas in a BRICS nation and is relying on you to give them the best advice for successfully doing business abroad. You’ll start by choosing a BRICS nation, then address each section of the term paper in a way where you are speaking to the CEO and executive team at SOLA. Your recommendations need to be substantiated with research and analysis from credible sources.
4-6 pages of content double spaced. This does not include your cover page and reference list.
Follow APA guidelines with a cover page, in-text citations, reference lists, double spaced, 1-inch margins and 12-point font (Calibri, Arial, Times New Roman recommended).
1. Market Entry
Evaluate the pros and cons of market entry strategies of exporting, foreign direct investment, and collaborative arrangements (such as joint ventures or licensing) as methods for SOLA to enter the BRICS nation. Which market entry strategy do you recommend for SOLA as the best option for their solar powered vehicles and why?
2. Marketing
Evaluate SOLA’s product for the BRICS nation. Considering the vehicle features and price, will this product be a good fit in the BRICS country and why? Discuss if SOLA can be successful selling the American version of their vehicle (style, features, brand name) in the BRICS nation or will it need to be localized?
3. Managing the International Operation
Considering ethnocentric, polycentric, and geocentric staffing frameworks, which one will you recommend to SOLA for launching their high-tech vehicle in the new market and why? What advice do you have for selecting the right candidate to lead the operations?
4. Summary
Now that you have fully researched the BRICS nation, briefly summarize your findings and recommendations for SOLA. Note: include information from your previous submissions.
