Assingment

Submitted to
SM Raihan Uddin
Lecturer
School of Bussiness Studies
Southeast University

Submitted by
Liwaza Islam Antora
ID:2019110000008
Section:04
Batch:52
Course Title: Introduction To Business
Course Code:BUS111

Submission Date:5.06.20

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 Table of Contents
Walton Company Executive summary:......................................................................................................3
Part:A...........................................................................................................................................................5
It obvious that if we expand our business India and Malaysia we face some factors which can affect to
reach globally:.............................................................................................................................................5
Political factors:..........................................................................................................................................5
Economic factors:........................................................................................................................................5
Legal factors:...............................................................................................................................................5
Social factors:..............................................................................................................................................5
Environmental factors:...............................................................................................................................6
Technical factors:........................................................................................................................................6
Behavioral factors :.....................................................................................................................................6
Establish New Revenue Streams:...............................................................................................................6
Access to talent:..........................................................................................................................................7
Find New Global Customers:......................................................................................................................7
Competitive advantage  :............................................................................................................................7
Global Market:.............................................................................................................................................7
Licensing:.....................................................................................................................................................8
Exporting:....................................................................................................................................................8
Franchising:.................................................................................................................................................8
Contruct Manufacturing:.........................................................................................................................8
International Joint Ventures and Strategic Alliances:..................................................................................9
Foregin direct invesment.............................................................................................................................9
Every strategies are important to reach global market.But I think Contract manufacturing and
International joint ventures too much important for my business:...........................................................9
Contract manufacturing:.............................................................................................................................9
Advantages:...............................................................................................................................................10
Disadvantages:..........................................................................................................................................10
International Joint Ventures:.....................................................................................................................10
Advantages:...............................................................................................................................................10
Disadvantages:..........................................................................................................................................10
Part:B........................................................................................................................................................11
As an entrepreneur,I create my ownbusiness its named One-Stop Auto Shop.My business will be
through apps. In Uber pathao if a person go any where he/she called Uber or pathao for the

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destination.My app is little bit similar .My app provide you some benefits.If a car or any other vehicles
suddenly damanged middle of a road, for some mechanical reason,they can take a mechanic for their
car repair through my app.Now I share my inovative ideas :....................................................................11
Product or service description..................................................................................................................12
Place:.........................................................................................................................................................13
Promotion:................................................................................................................................................13
Price:.........................................................................................................................................................14
SOWT Analysis:.........................................................................................................................................15
Strength:....................................................................................................................................................15
Weakness:.................................................................................................................................................15
Opportunity:..............................................................................................................................................15
Threat:.......................................................................................................................................................15
Conclusion:................................................................................................................................................16

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Walton Company Executive summary:

Walton is the pioneer of electric product manufacturing in Bangladesh with the slogan“Made in
Bangladesh”. Starting from 2006, they are now the first multinational manufacturing company
of Bangladesh. Overcoming all the hurdles they are now representing Bangladesh with their
high quality product all over the world. Capturing thelocal market with their electronic
products, now they are also manufacturing two wheele rvehicles. With low labor cost they are
offering highly affordable price to the consumers.All their foreign competitors are having tough
competition in all the sectors but Walton has made and unique brand image by branding
Bangladesh. They have spread out their marketing and service network all over the country.
Now they have the best marketing network in South Asia with superior service. Among all other
good quality products their refrigerator is the most popular and widely accepted that has
captured 70% of the local market share. On 18 January 18 2018, Walton launched the country's
first computer and laptop manufacturing plant.

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Part:A
It obvious that if we expand our business India and Malaysia we
face some factors which can affect to reach globally:

Political factors:
Various political factors affect the international factors. Political factors such as changes in tax
rates, policies and actions of government, political stability of country, foreign trade regulations
etc. affects the working of an international business firm. Lack of political stability in the
country directly impacts the operations of business firm. Also, various tax policies and
government initiatives sometimes hinders the expansion of business in other countries. Thus,
effective political environment of business influences the growth of business firm .

Economic factors:
Economic factors relates to the economic system of the country where the firm has its
operations. Various econocmi factors such as inflation rate, interest rate, income distribution,
employment level, allocation of government budget, etc., directly impacts the operations of
business firm .Various economic factors such as purchasing power of customers also
determines the demand of various products and services.

Legal factors:
Legal factors relate to the legal environment of the country in which firm operates. Different
laws prevail in different countries and international business firms have to abide by the laws of
each country. Laws relating to age and disability discrimination, wage rates, employment and
environment laws affects the working of business firms. Along with this, various international
lending agencies affects the legal culture and working policies of business firm.

Social factors:
Social factors such as education, awareness and trends and status of people in the society
affects the consumer behavior to purchase various goods and services. Also, Social environment
and culture such as customs, lifestyles and values differs from country to country which further
directly impacts the international business.

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Environmental factors:
Environment factors such as weather, climate change, temperature etc. affects the business
firm and the demand pattern of various goods and services. increasing environment awareness
has made this external environment factor a significant issue to be considered by business
firms. Move towards environment friendly products and services also has affected the demand
pattern of various goods and services.

Technical factors:
Technological changes in the industry has both positive and negative impacts on the working of
business firms. Technological changes and development of automated work processes helps in
increasing the efficiency of business processes. However, technological changes also threaten
the demand of various products and services in the industry.

Behavioral factors :
In a foreign unknown surrounding, the related studies like anthropology, psychology and
sociology assists the managers to have a better understanding of values, attitudes and beliefs.

We may face the above problems when doing business abroad.

 Now I present a report of research indicating the benefits of pursuing this

new operation.
In here i discuss about the benefit side if we expand our business globally:

Establish New Revenue Streams:

According to a recent report, 45% of middle market companies make more than half of their
revenue overseas. If your business is doing well domestically, you’re already a step ahead to
succeed globally. With a new customer base, you can identify and create unique opportunities
in local markets for your business to fill in the gaps. Just be sure to consider the cultural
factors before expanding into a new market.

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Access to talent:
Another top benefit of going global is the opportunity to access to new talent pools. In many
cases, international labor can offer companies unique advantages in terms of increased
productivity,advanced language skills, diverse educational backgrounds and more. In addition,
international talent may also improve innovation output within a company. For instance, that’s
one reason why foreign markets that welcome global entrepreneurs and skilled workers often
have denser and more successful start-up climates.

Find New Global Customers:

When you have been in a local market for a while, it can be tough to find new customers. They
are used to your product and your competitors, and new sales can be a battle hard-fought.

An international expansion opens new doors and gives you access to a whole new set of
customers who have never seen your product or service before.  But sourcing global talent can
be an overwhelming task, even for seasoned internal recruiters. A global talent acquisition
partner can help alleviate some of these challenges.

 Competitive advantage  :
Companies also choose international expansion to gain a competitive edge over their
opponents. For example, businesses that expand in markets where their competitors do not
operate often have a first-mover advantage, which allows for them to build strong brand
awareness with consumers before their competitors. International expansion can also help
companies acquire access to new technologies and industry ecosystems, which may
significantly improve their operations.

International business can also increase a company’s perceived image, as global operations can
help build name brand recognition to support future business scenarios, such as contract
negotiations, new marketing campaigns or even additional expansion.

These are some beneficial point if some one wants to expand him business outside he/she
will be beneficial.

 I am strategic manager at Walton.Im incharge of the laptop division.Now i have a tasked

with new profitable destination to expand operations of the bussiness.Now in bellow we
discuss about how we expand our business in global market:

Global Market:
In today’s economy, once a nation or business has developed an advantage either comparative
or absolute it’s likely to look beyond its own borders or storefront to seek greater economic
opportunity. But how do you enter a global market? It’s certainly not as simple as loading up

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your products in a van, driving to the next town, and knocking on doors. Below are some of the
common strategies companies and countries use to get their goods and services into global
markets.We have to think many way,stategies to reach our business.The key strategies include
Licensing,Exporting,Franchising,ContractManufacturing,International Joint Venture and at last
Foreign Direct Investment.The six strategies are very much important to reach the global
market.Now we will discuss what we need in the global market:

Licensing:
A frim may decide to compete in a global market by licensing the right to manufacture its
product or use its trade mark to a foreign company for a fee.The licensor may also assist or
work with a licensee in such areas as distribution,promotion and consulting.A licensess
agreement can benefit a firm in several ways.Also, foreign licensees often must purchase start-
up supplies,material,and consulting services from the licensing firm. Official or legal permission
to engage in a regulated activity.Without licsensing we can’t imagine expand business
internationally.

Exporting:
Exporting is the easiest and most straightforward way to engage with the global market.
Exporting is taking goods that were produced within a company’s home country and shipping
them to another country. The party sending the good is called an exporter. It is impossible to
discuss exporting without mentioning its complement.

Franchising:
Franchising is a contraxtual agreement whereby someone with a good idea for a business sells
others the rights to use the business name and sell a product or service in a given territory in a
specified manner.Franchising is popular domestically and globally.Franchisors have to be
careful to adapt their product or service to the countries they serve. A longer-term and more
comprehensive way to access the global market is through franchising. Under the terms of a

franchise agreement, a party (franchisee) acquires access to the knowledge, processes, and

trademarks of a business (the franchisor) in order to sell a product or service under the
business’s (franchise’s) name. In exchange for the franchise, the franchisee usually pays the
franchisor both initial and annual fees. McDonald’s, Holiday Inn, Hertz Car Rental, and Dunkin’
Donuts have all expanded into foreign markets through franchising.

Contruct Manufacturing:
In contract manufacturing a foreign company produice private-label goods to which a domestic
company then attaches its own brand name or trademark.For example,contract manufacturers

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make circuit boards and components used in computers,printer e.t.c.Contract manufacturing
enables a company to experiment in a new market without incurring heavy start-up costs such
as building a manufacturing plant.If the brand name becomes success,the company has
penetrated a new market with relatively low risk.

International Joint Ventures and Strategic Alliances:

There are times when businesses have opportunities within the global market that are better
undertaken with a partner. Sometimes these projects are extremely large and capital-intensive
or are so comprehensive that it makes sense to include multiple businesses or even
governments. These large-scale, global projects usually take one of two forms: strategic
alliances or joint ventures. A joint venture establishes a new business that is jointly owned by
two or more otherwise independent businesses. The most common joint ventures involve two
companies that are equal partners in the new firm, investing money and resources while
sharing control of the newly formed firm. Often, the foreign partner provides expertise on the
new market, business connections and networks, and access to other in-country aspects of
business such as real estate and regulatory compliance. A less permanent, but equally effective
way to enter the global market is through a strategic alliance. A strategic alliance is formed
between two or more corporations, each based in their home country, for a specified period of
time. Unlike a joint venture, a new company is not formed. Generally, strategic alliances are
pursued when businesses find that they have gained all they can from exporting and want to
expand into a new geographic market or a related business.

Foregin direct invesment:

Of all of the ways that a business can reach the global market, the most intensive approach is through
foreign direct investment or FDI. Foreign direct investment is an investment in the form of a controlling
ownership in a business enterprise in one country by an entity based in another country.The most
common from PDI is a foreign subsidiary,a company owend in a foreign country by another
company,called the parent company. Businesses that are not ready to take on the challenge of
establishing a new facility or subsidiary in a foreign country will usually choose either a merger or
acquisition as a means of expanding their global reach. 

Every strategies are important to reach global market.But I think

Contract manufacturing and International joint ventures too much
important for my business:
Contract manufacturing:
Contract manufacturing is a process under which a company does not manufacture its
products. The production activities are outsourced to contract manufacturers. Contract
manufacturers are those who manufacture other company’s products on a contract
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basis.Contract manufacturers are expert persons in the production process. Companies put
their own label and packaging on the products manufactured by contract producers.

Companies provide full details like types and specifications of products it wants to the
outsourcing manufacturers. Sometimes the company even provides the raw materials to the
outsourcing manufacturers. There are some standards decided and explained to the outsourcing
producers by companies. These standards are used for inspection of goods manufactured by another
manufacturer.Products are required to pass these standards during inspection. Contract
manufacturing is beneficial for the company as it helps in minimizing cost and focusing on more
functional areas.Here are some advantages and disadvantages:

Advantages:
Economies of scale.
More focus on selling activities.
Quality product.
Saving cost .
Easy entry in market.

Disadvantages:
Quality issues.
Lacks control.
Lack of fexibility.
Delay in delivery.
Outsourcing problem.

International Joint Ventures:

A joint venture is a common way of combining resources and expertise of two otherwise unrelated
companies. There are many benefits to this type of partnership, but it is not without risks -
arrangements of this sort can be highly complex. This is very important If you want to take your
business to a foregin country globally.

Advantages:
access to new markets and distribution networks.
increased capacity.
sharing of risks and costs (ie liability) with a partner.
access to new knowledge and expertise, including specialised staff.
access to greater resources, for example technology and finance.

Disadvantages:
The partners expect different things from the joint venture.
The work and resources aren't distributed equally.
The leadership and support is not there in the early stages.

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 The different cultures and management styles pose barriers to co-operation.
The level of expertise and investment isn't equally matched.

Part:B
As an entrepreneur,I create my ownbusiness its named One-Stop Auto Shop.My business will be
through apps. In Uber pathao if a person go any where he/she called Uber or pathao for the
destination.My app is little bit similar .My app provide you some benefits.If a car or any other
vehicles suddenly damanged middle of a road, for some mechanical reason,they can take a
mechanic for their car repair through my app.Now I share my inovative ideas :
My service Organization name is One-Stop Auto Shop. My head office located in House-15,
Road-2, Sector-7 Uttara, Dhaka. It an online service provider Organization. I provide various
online Automobiles maintenance service.

It is Online based service organization but I also have hotline number. My business provide
service through mobile number also. Anyone can call me and get their demanded service within
time.I provide my service within promised time. It is new on demand service platform in our
country. I am the first start up organization of this business. I have huge competitive
advantages and I can able to maximize share of market of this business.Bangladesh has been
rapidly developing year by year and the internet users have also increased potentially every
year. In Bangladesh, online based business is more successive. People purchase clothes, shoes,
accessories, and even order food online. So, my organization alsoprovide services through
internet.Now it just a start It is a small business but I will expand my business and make it
bigger in our country. I believe that it would turn into a huge profitable business.

Now in bellow I discuss about market strategy of my business :

An organization's strategy combines all of its marketing goals into one comprehensive plan.

A good marketing strategy should be drawn from market research and focus on the product

mix in order to achieve the maximum profit and sustain the business. The marketing strategy

is the foundation of a marketing plan.In bellow here it is:

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 Promotion
Place
product
price

Product or service description:

One-Stop Auto Shop is a full-service auto repair shop without the shop. My business will
provide service all types of cars and trucks, offering everything from oil changes and tune ups to
brake jobs and no-starts. My target to provide service every concern in our country.

Service I will provide:

General diagnosis
Scanning (trouble code finding & erasing)
Fuel consumption test by machine
Suspension system+ Brake system test +Side sleep test by
Machin
CVT Oil pressure calibration
Head light beam adjust by machine
Fuel system service by machine
Auto battery test with charging

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Place:
When you sell a physical product it’s easy to keep distribution strategy but when you provide
online service its more difficult. I am targeting some area where I can catch customer easily for
providing faster service, will divided Dhaka city in nine area.

Banania Dhanmondi Farmgate

Gulshan Uttara Tejgoan
Baridhara Mirpur Rampura

Every point of my selected place I have set office so that My business can provide service
within short time period. I corroborate with local service provider and make strong relationship
with vendor. As result, my cost will reduce and easily grab customer attention. Every point

we establish a both.

Promotion:
Promotion looks to communicate company’s message across to the customer. it’s an incentive
tool used to drive-up short-term sales. So I need to connect with customer and My business
will take a promotion strategy to increase business. I will use this promotion tools for
maximizing our target market.

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 Advertisement

Direct Marketing
Public Relationship
print and PRESS Email
broadcast newsshelters Tele-Marketing
Ads Seminars
Social Media
Leaflet
Radio

Digital platform is the best place for promotion my service. I will be increasing social media
engagement. In this platform my business can grab attention so many people in minimum time
of period. Direct marketing help to build good relationship with our vendor. Through the direct
marketing we can maintain and update new information with direct marketing tools.

Price:
Price is one of the most sensitive aspect of marketing function. Pricing function has to be well
planned and that should reflect the utility that the product provides. There are some customers
who won’t mind to pay extra to get some value-added benefits especially those who are higher
level of income. There is several pricing strategies that organization follow.We follow “Value-
based pricing” (Setting a price based on how much the customer believes what you’re selling is
worth) strategy. I create perception that my service has higher value than competing products
because price of service is high.

Service name Amount

General diagnosis 300
Scanning (trouble code finding and 1200
eraseing)
Fuel consumption test by machine 1500
Suspensionsystem+Brake system test+Side 2000
sleep test by Machin

CVT Oil pressure calibration 4000

Head light beam adjust by machine 800
Fuel system service by machine 3000
Auto battery test with charging 1000

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 SOWT Analysis:

The SWOT analysis is a business analysis technique that your organization can perform for
each of its products, services, and markets when deciding on the best way to achieve future
growth. The process involves identifying the strengths and weaknesses of the organization, and
opportunities and threats present in the market that it operates in. The first letter of each of

these four factors creates the acronym SWOT.

Strength:
Highly qualified, competent and experienced personnel.
Good in-house training programmed have produced credible staff.
Public research system has a broad spectrum of researchers.
Better logistical support (transport and equipment).
Good networking skills.

Weakness:
we are new in market.
Lack of strategic management system.
Shortages of well train Staff.

Opportunity:
Changes in social patterns, lifestyle changes, and so on.
Our competitors may be slow to adopt new technologies.
Our business sector is expanding, with many future opportunities for success.

Threat:
A small change in the focus of a large competitor might wipe out any market position we
achieve.
Our political situation is not stable so we face Political issues sometimes.
Lots of competitor.

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Conclusion:
I believe that this industry is still in a very premature stage. While we have grown used to
ordering products from e-commerce sites, we still cannot imagine placing an order for
servicein a similar way. A lot of doubt and misunderstandings creep in mostly due to the lack of
professionalism and safety that I am used to from the conventional mode of accessing
everyday services. Express Service is the first platform that identifies this core problem. I want
more ventures to enter the market because changing social behaviors is a herculean task which
Express Service alone cannot complete. The market is huge and we still have a long wayto go
before the real competition arrives.

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