Among the BRIC countries, China’s economy has slowed the third economic power down
significantly, due to the partnership with China. The COVID-19 pandemic has affected the
BRIC countries, China has come out of it. BRIC countries lack a economic interest in exports
due to trade from the West. Brazil, Russia, India and Africa have similarities in a lot of
economic areas, where it doesn’t pay to trade amongst themselves, not enough GDP would come
from it. BRICS countries compete in third markets, Russia has a negative GDP of -3.97,
whereas Africa does slightly better than Russia and Brazil, but India performs the best, due to
the least external factors. Diversity of cultures can prohibit growth in the BRIC countries,
whereas Western influence plays a part in too similar economies of scale.
Among the internal factors, among BRIC, they are strengthening ties with the World
Bank, The Asian infrastructure of the Asian Bank, and reforming trade among the Western
World. The severe economic downturn of Brazil, Russia and South Africa, among high
unemployment status, and severe inflation, will have Brazil, Russia, and South Africa have high
crime, which is all inclusive in a internal factor among the BRIC countries. The BRIC countries
need to strengthen infrastructure, moral reform of trade and a economic upturn among global
marketing, and to diversify the economy among the BRIC countries, China leads the countries in
that department, Brazil, Russia, India and South Africa need to learn and emulate China on
global positioning of trade and economies of scale.
The BRIC markets such as Brazil, Russia, India, and China used to be very promising markets that can support the international expansion of companies. Some factors that made these countries’ preferred destinations for investors include a high population that translates to a ready market for the goods as well as strong economies (Aceto, 2015).
Lengthy administrative procedures are an example of the internal factors that have made Russia an unpopular global market. The lengthy process that needs to be followed before being allowed to do business in Russia discourages investors (Movchan, 2015).
The lack of skilled labor is one factor that has made China an unpopular global market. The demand for skilled labor in the country is more than the supply and, therefore, foreign investors are likely to opt to set up their businesses in other countries where there is skilled labor.
Weak infrastructure is one of the main factors that make Brazil an unpopular global market. The country’s weak infrastructure, especially in the transportation sector, has frustrated companies because they cannot easily conduct business (Sottovia, M, 2019).
Underqualified workforce is an internal factor that has led to India’s less preferred global status. Most of India’s population works in the agriculture, service and manufacturing sectors and lack expertise that is required by international firms. For example, of its 1.3 billion population, approximately 40% are illiterate, while others are ineligible (Aceto, 2015).
The economic downturn is an example of external factors that have made Russia an unpopular market. Research shows that the country’s economy has been declining for the past three years. Research has also indicated that the country’s government has not implemented strategies that could turn the situation around (Movchan, 2015).
India’s political climate is characterized by high levels of corruption and discourages investors. The high rate of corruption affects the level of corporate profits.
Financial risk is an example of an external factor that could lead to a downgrade in its status. The country’s credit risk and bankruptcy rate have been increasing, which has a direct impact on companies (Sottovia, M, 2019).
Lack of transparency is an external factor that has led to China’s less preferred global status. It is difficult for foreign investors to obtain business regulations and laws because they have not been announced. This bureaucracy makes foreign investors feel unfairly treated and discriminated against.
The purpose of this report is to gain permission and support to proceed with initiatives to expand ToolsCorp to a multinational organization that will compete on a global scale. The goal is to develop a full and comprehensive business plan to outline the strategic initiatives that will be used to gain entry in the global marketplace. The information and data support this initiative to be profitable and feasible for the company.
The process included researching countries to collect data on consumer behavior and what characteristics consumers looked for in high-quality products. This also included researching and collecting qualitative and quantitative data on top global competitors. The implication is seeing common characteristics and defining factors that were unique to each. This provides a measure to show how ToolsCorp can not only expand in the manufacturing tools industry, but also identify and take advantage of weaknesses that exist with competitors to gain the competitive advantage.
The findings show the growth market for this industry provides an ideal opportunity to grow and expand on a global platform and find success in building name recognition and expanding the consumer base. This is fueled by technological advances that help enhance tool quality (Bottani & Vignali, 2019). Growth and expansion opportunities are reflective in the SWOT analysis, market analysis and business plan portions of this document.
Further discussion indicates there is a demand for high-quality products such as power tools, lawn mowers, microwaves, etc. that consumers have a need/desire for. In a global market, ToolsCorp can take advantage of that demand and supply high-quality goods to consumers. This expansion will result in brand recognition associated with high-quality and durability.
In this executive summary, It details on the( 1) plan, (2) mission statement, (3) The main company board/ management (4) The company strategic services and marketing (5) Location of industry (6) Conclusion. More importantly is that Any excellent executive summary will include the name of the company, its address, a description of the services or goods it offers, and the reason for creating the report that the executive summary is an overview of. Again, Describe your current or prior work or profession in a persuasive statement. A detailed and well-explained explanation of your skills. Describe your relevant abilities in a quick statement.The following are the essential components of your executive summary: The problem statement – In most cases, there is a market gap or problem that your company attempts to fill. This is your issue statement, which must be included in the summary since investors, in particular, want to know if the world actually requires your company’s services.
What purpose is this business are well planed for, the goals and objective together with how and how the business shall strived for the best. These elements shall be considered for proper growth of the company. Planning for the CEO. Corporate benefit strategies must include executive benefit programs. Taking care of executives properly ensures that they are motivated to work on your company’s growth. So we have to secured a good plan that shall motivate employees and company management.
Conclusively, The findings suggest that the industry’s growth market offers an ideal opportunity to grow and expand on a global scale, as well as to build brand recognition and extend the consumer base. This is powered by technical advancements that aid in tool quality improvement (Bottani & Vignali, 2019).Finally, Individual who is self-motivated and has a proven track record of increasing sales.Excels at managing projects from start to completion and in understanding and meeting the needs of customers. Leader of a team who started their own firm from the ground up.
In recommendation for the CEO on what shall be put in place is as follows:
1. The outcomes
3.Solution to resolved the issues
6.Adoption & conclusion.
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