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MGT 448 Final Global Business Plan

A final business plan outlining global business strategies and considerations.

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    Final Global Business Plan 1 Final Global Business Plan MGT 448 In 2,500 words, develop a global business plan for a North American sport store expanding into Canada. Include region and country analysis, mission and objectives, product analysis, competitive landscape, and risk assessment.

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    Final Global Business Plan 2 Final Global Business Plan The institution of a global business plan is a complex process. There are many items associated with production and there is much to consider. It is vital to identify the business venture and all the components that come along with it. This business plan involves a North American sport store company with the intention to begin a business venture with Canada. Factors considered range from objectives to a contingency plan. An extensive analysis is necessary to ensure that success will play a role. The idea is to sell sporting goods to Canadian businesses and to individuals. Region Analysis – North America North America is a large region with many capabilities. Political and economic stability is prevalent. Politics functions on a Federal Constitution. North America is known for its free code of conduct. “Political stability mainly depends on the rule of law, a high degree of autocracy or democracy and the amount of trade that the country engages in” (Knol, 2011). Political stability has led North America toward one of the strongest national economies today. Immigration has caused weakening political is sues; however, immigration has proven to be an aid in the growth of the country. More and more people are coming in creating a diverse population. If political stability is not a factor, a positive economic scale is not possible. Northern America has a strong political outline that is followed leading to the ability to engage in activity like trade and business. Economically, Northern America is doing well. At the same time, the United States dollar is depreciating. The United States continues to hold the title of the largest national economy. Both private and public sectors exist. Trade is still a large factor for Northern America resulting in a prosperous economy. Economic growth is handled by the

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    Final Global Business Plan 3 Department of Commerce. Issues are handled on the political front that relay onto an economic basis. Financially, reliance is on the U.S. Treasury to function accordingly. Policies are set that oversee currency and monetary instances. A central banking system is in place to follow through with these responsibilities and is known as the Federal Reserve. On a more basic note, there are multiple finance options such as loans and stock. Financing is very structured in Northern America. Shares can be held by banks of the United States for foreign countries on a certificate basis. Finance options are not limited and take place on a professional basis for trading purposes. The Northern America Free Trade Agreement also comes into play to help finance trade with Canada and Mexico. The physical environment does not hinder trade. Multiple transportation forms are available and can be conducted with ease. Various forms of institutionalized groups exist to manage environmental conditions. “The U.S. scored high marks for safe drinking water, sanitation, and forest management, but performed poorly when it came to the management of greenhouse gas emissions and air pollution” (Takingupprescidence.com, 2011). The health care system functions mainly on the personal purchase of health insurance, although some government subsidies exist to address the health of certain population like veterans and children. Since, healthcare has become so expensive more and people are going with insurance. There is a stride toward preventative practices. Northern America is a diverse region so social status varies. Culture is influenced by diversity as well, not limiting Northern America to one type of practice. Influences come from all over the world and are unique within every region. The culture and social status is not the same as everywhere so this is important to keep in mind when conducting business outside the norm.

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    Final Global Business Plan 4 Country Analysis – Canada Canada is a large county that can be divided into five distinct regions based upon their geography. Each section allows the company to sell the various items we do so that each area can be accounted for. All the regions work with each other and the economic integration among the country is sound. The United States dollar will be converted to Canadian dollars since business will be conducted on that front. Doing business with Canada will assist in supplying people with the items needed for the distinct environment. Canadian regions include the Mountains and the West region, the Northern Canadian area, the Prairies, and Central Canada, and East Coast. The physical characteristics of the various regions will allow us to sell everything from kayaks and rafts, for the major rivers and lakes, to climbing gear for those that wish to climb the mountains of the West Region. With the flat lands around Alberta, Saskatchewan, and Manitoba flat and treeless, selling trail bikes and clothes needed for that area will be successful. There are thousands of lakes also in the Northern Manitoba area, which will permits fishing equipment to be a big seller. The central province of Canada are where the population of Canada is mostly at and according to Trail Canada (2009), “this provinces consists of Ontario and Quebec and are approximately the size of Western Europe” (Geography of the Canadian Shield and Central region, para.1) . With large numbers of people near the forests and even more lakes, we will be able to sell individuals the needed camping and survival gear if they decide to camp out in the forest. The border to the United States sits along the area of the South and Western Ontario province, which makes shipping into the country easy. With the North American Fair Trade Act (NAFTA), in place, shipping into any of the provinces of Canada will be with minimal issues.

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    Final Global Business Plan 5 Along with NAFTA already in place, the economic conditions in Canada are agreeable to start a business there. According to the website of the International Finance Corporation (2011), it takes five days to complete the necessary paperwork to file for federal incorporation and provincial registration (Starting a business in Canada, para.3). However, Canada is ranked 32 overall for getting credit but is ranked five overall for protecting Investors (International Finance Corporation, 2011). What this means to Team B, is that there is a need to do some work in the finance department in regards to getting the business financed. This is so because the paperwork can be completed within five days, but our investors would be protected by the Canadian laws. The social, health, and environmental conditions of Canada are positive for doing business there. Canada is very proactive in its workers health, the environment, and according to the Health Canada (2010) website “Health Canada develops and enforces regulations under Government of Canada legislation” of these matters. Also the terrorist threats in the country are those of other free market countries. There is always a threat of some sort of activity, but the scale is rather low, and the police and military are always on alert. There are no major concerns or threats at this time in Canada that would serve as major concern preventing the conduction of business. Underlying Mission and Objectives The main concept is to engage in business with Canada. The North American company under the lime light specializes in the production of various sporting goods. Products include men and women’s clothing, camping necessities, fishing and hunting equipment, multiple sport accessories, and other outdoor/indoor equipment. The targeted population will be individuals

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