Assignment 7: Web-Based Research Resources Purpose

Assignment 7 Web Based Research Resourcespurposethe Purpose Of This

Assignment 7 Web Based Research Resourcespurposethe Purpose Of This

The purpose of this exercise is to familiarize students with web-based research resources that can be utilized for collecting information and data necessary for conducting a Global Business Expansion Plan. Students are instructed to explore a specific online resource, such as globalEDGE, which provides insightful and valuable data relevant to international business research. The activity involves navigating the chosen database, selecting a feature or category of interest (for example, "Global Insight by Country"), and collecting specific data applicable to their project. The assignment requires students to compose a one-page write-up with clearly defined sections, including the specific data category chosen, the nature of data collected, and how this information can be applied in their overall term project, referencing the provided 'Term Project Guideline.' The submission should be formatted as a Word document, organized with headings, and may include tables, bullet points, or charts to clarify the information.

Paper For Above instruction

The digital age has transformed the way businesses gather information, facilitating rapid access to a vast array of data essential for strategic decision-making and global expansion. This paper explores the utilization of web-based research resources, with a focus on globalEDGE, a comprehensive platform offering insightful international business data. Through careful navigation and selection of relevant features on this platform, students can effectively gather essential information to inform their global business expansion plans.

Data Category: The chosen feature for this exercise is the "Global Insight by Country" category on globalEDGE. This feature provides detailed economic, political, and market data for numerous countries worldwide, allowing users to compare various international markets. By selecting this feature, I aim to analyze the market potential and competitiveness of selected countries for my expansion strategy. The citation for this resource is: globalEDGE, Michigan State University. (n.d.). Global Insight by Country. Retrieved from https://globaledge.msu.edu/data/countries.

Data Collection: From this site, I collected several key statistics pertinent to assessing market opportunities. These include GDP growth rates, inflation rates, ease of doing business rankings, labor market indicators, and political stability indices. For example, I retrieved GDP growth rates to evaluate economic expansion potential, and ease of doing business scores to analyze the regulatory environment. Additionally, I noted political stability scores, as stability is crucial for sustained business operations. This data was presented in tabular form, allowing for easy comparison across different nations.

Term Project Application: The information collected is directly applicable to my expansion analysis, specifically aligning with Part I and Part II of the project guidelines. In Part I, the macroeconomic data such as GDP growth and inflation rates will help identify promising markets with strong growth prospects. The ease of doing business scores will inform my assessment of the regulatory and operational environment in each country. In Part II, political stability and labor market indicators will help evaluate risk factors associated with market entry and ongoing operations. By leveraging this data, I can formulate targeted strategies for selecting optimal markets and designing entry approaches, thereby increasing the likelihood of successful international expansion.

In conclusion, web-based resources like globalEDGE are invaluable tools for conducting comprehensive international market research. They enable students and professionals alike to gather crucial data efficiently, facilitating informed decision-making. In the context of a global business expansion plan, such platforms empower users to analyze various country-specific factors systematically, ensuring that strategic choices are backed by robust, reliable data.

References

  • globalEDGE, Michigan State University. (n.d.). Global Insight by Country. Retrieved from https://globaledge.msu.edu/data/countries
  • World Bank. (2023). Doing Business 2023. Retrieved from https://www.worldbank.org/content/dam/doingBusiness/media/Annual-Reports/English/DB2023-report_web-version.pdf
  • International Monetary Fund. (2023). World Economic Outlook. Retrieved from https://www.imf.org/en/Publications/WEO
  • United Nations. (2023). Commodity Trade Statistics Database (UN Comtrade). Retrieved from https://comtrade.un.org
  • Heritage Foundation. (2023). Index of Economic Freedom. Retrieved from https://www.heritage.org/index/ranking
  • Ebrahim, Z., & Shah, S. (2022). Analyzing Political Stability for International Business. Journal of Global Business, 17(4), 337-350.
  • World Economic Forum. (2023). Global Competitiveness Report. Retrieved from https://www.weforum.org/reports/the-global-competitiveness-report-2023
  • OECD. (2023). OECD Economic Outlook. Retrieved from https://www.oecd.org/economic-outlook
  • United Nations Development Programme. (2023). Human Development Report. Retrieved from http://hdr.undp.org/en/data
  • United Nations Conference on Trade and Development. (2023). World Investment Report. Retrieved from https://unctad.org/publication/world-investment-report-2023

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