IMPORTING AND EXPORTING ASSIGNMENT: EXPORT PLANNING REPORT PLEASE READ THE FOLLOWING • The recommended length is a maximum of 2000 words. The whole assignment is worth 40% of your assessment marks. • An executive summary (not included in the word count) should be included. • A neat and professional presentation is required (12pt font with double spacing). • Proper referencing is essential. • This item of assessment is used for both summative and formative purposes. The CRA will be used in the assessment process. Assignment Topic #1: Start by choosing a US firm that produces Chipotle BBQ sauce (preferably small to medium sized company) that may or may not already be exporting. This company must be one that specialises in tangible products (not services) under its own brand name. Imagine that this company is interested in exporting one of its products (or a specific product line) to a new export market Australia. Your task is to act as this company’s export consultant. Requirements: a. Discuss the export readiness of your chosen company. In your report, you must explain why this company is ready to commence exporting to a new foreign market. b. Prepare a critical but brief analysis on the chosen market Australia. In your report, evaluate its suitability as an export destination for your company/product. c. Assess export planning guidelines and propose relevant strategies. You will need to: • Propose and explain in detail your export entry method and strategy • Identify any logistics issues that the company will likely face with this product and explain how these will be managed • Identify any regulatory requirements and potential challenges for export entry to the chosen market • Propose an export implementation schedule Executive Summary • This should be a summary of your entire assignment in about ¾ to 1 page (this summary is not part of the word count) Export Readiness Analysis (worth 10/40 of marks) • Introduction a very brief introduction to your chosen firm and its product(s). This is for you to highlight important background information regarding the firm (this should not be too long as it is just an ‘introduction’… probably one paragraph) If you need to explain more about the company/product use the appendices section to do so. • Export readiness this is a discussion to identify and highlight export readiness characteristics of your chosen firm (this is an ‘internal analysis’). Research your firm, and based on the information you can find, identify those characteristics that can be used to justify the firm’s export potential. For example, take note of the three key characteristics we covered in lecture 3 (competitive advantages, resources/capabilities, objectives/commitment) and think about whether or not your firm has any relevant features that you can highlight and discuss. Then, explain why you think this firm is ready to export to a new market. Country Analysis (worth 15/40 of marks) (Australia) • This part will require some references as it’s very researchbased – you’re trying to propose a suitable export market and justify through research that it has the required potential as an export destination (this is an ‘external analysis’). • Ask yourself what’s so attractive about this country (or if you’re interested, a particular market segment). Start with a short and general assessment about overall attractiveness (support with research – eg. government statistics and/or key economic indicators) and how these may be beneficial to your business/product(s). • Assess the relevant industry and observe key trends and developments in recent years, opportunities, potential competition, etc. Some graphs and tables will be useful Export Planning Guidelines & Strategies (worth 15/40 of marks) • This part is where you identify key considerations for export commencement to your chosen country/market and where you propose what needs to be done in order to export successfully • Start by proposing your export entry strategy and justify this by relating to your business and target country/market (relevant to lecture 2 coverage as mentioned in the lecture, focus on either simple direct or indirect export strategies only… don’t go into FDIrelated approaches, franchising, licensing, etc) • Logistic issues? (eg. transportation strategy, any key logistical concern such as quality control and packaging, relevance of 3PLs, etc – relevant to lecture 4 coverage) • Regulatory/legal issues and potential challenges? (eg. customs requirements, tariff, any specific regulatory requirements in target country/market, technical regulations/standards, etc – relevant to lecture 7 coverage) • Export implementation schedule (this is a timeline proposal of key actions that need to be taken prior to actual commencement of the first export to your chosen country) Appendices (optional – maximum of 4pages, for you to include extra information that may enhance the coverage of your report… not in the word count)