Business plan for entering new country (Business plan for Lockheed Martin in Turkey International Strategies)
“First, analyze the country Turkey both as a market for our product…”
“…and as a site for certain value-chain activities…”
“…including assessment of risks.”
“Include three-year estimates and revenue projections, with time frame and breakeven point, using the findings of your research into potential market size, pricing, and unit sales within your selected country.”
“Also discuss your market entry plan and competitive strategy.”
“Second, you will need to estimate the required investment…”
“… for relocating one or more activities of the organization’s value chain from the United States to your selected country.”
Finally, “we will need actions and milestones to implement our strategy as well as an in-depth assessment of both short- and long-term risks.”
you are now ready to put your international strategy all together in a business plan. Review the types of international strategies and their components as you begin this work.
2. Develop an entry strategy of about 6–7 pages in length. The strategy you develop should incorporate the components described here and in Step 3.
As you begin to develop an entry strategy, first perform the following assessments:
• Analyze your site as both a market for your products and as a site for certain value-chain activities.
• Short-list and profile potential partner company candidates.
• Determine what company you will select for partnership or alliance. Evaluate the benefits this partnership would bring to your organization’s market position or profits.
• Detail the pros and cons of three market-entry modes. Which entry mode would you recommend and why? How does your chosen mode fit your organization’s goals and objectives? For help in answering these questions, review Modes of Entry.
Estimate the financial investment required for the selected entry strategy.