STUDENT    NAME     AND     ID NUMBER

Qualification

Pearson BTEC Level 5 Higher National Diploma in Business

Academic Year

2021-2022

Unit Number & Name

Unit 43: Tapping into New and International Markets

Unit Leader

Unit Lecturer(s)

Assignment Title

International Business Development

Type of Assignment

Formal Report

Weighting

100%

Issue Date

Week Commencing 21/03/2022

Formative Submission Date

08/04/2022 (The formative link will remain open till 2-week before the summative deadline date).

Summative Submission Date

29/04/2022 (29^th April at 14:00 using Summative submission link on Moodle).

Assessor

IV

ASSIGNMENT BRIEF AND GUIDANCE Unit 43: Tapping into New and International Markets

Learning Outcomes

LO1 Analyze the opportunities and threats for firms exposed to an increasingly globalized environment.

LO2 Illustrate the advantages of trading blocs for firms.

LO3 Determine the importing and exporting process and the practicalities involved LO4 Evaluate ways SMEs can tap into international markets

The House of Dorchester is a premium chocolatier that produces a range of high-quality British-made chocolates, crafted at the company’s factory on the Duchy of Cornwall’s Poundbury estate in Dorset. Proudly British, the artisan chocolate company has been creating award-winning chocolates for 50 years. You are required to:

1. Assess the opportunities and threats the House of Dorchester faces in an increasingly competitive global environment. You can use PESTLE analysis to identify such opportunities and threats.
2. Make a case for the organisation expanding its operations in a foreign market of your choice. Your case for the organisation’s foreign expansion should be based on a theory of international trade such as Porter’s diamond, product life-cycle theory, country similarity theory, etc.
3. Present any tariff and non-tariff barriers the House of Dorchester would have to face when expanding in the foreign market. Discuss the role of trade blocs and point out any trade blocs relevant to the international expansion of the House of Dorchester.
4. Advise the House of Dorchester to determine whether it is beneficial to import or export merchandise and/or services. Explain the key differences between the merchandise (goods) and services import and export and their advantages and disadvantages.
5. Compare and contrast the available modes for expansion for the House of Dorchester. These can be exporting, wholly owned subsidiary, joint venture, licensing and franchising. Specify which one you recommend to the House of Dorchester and the reasons why.
6. Explain the process of the company’s expansion, i.e. if your recommendation is for the House of

Dorchester to export to the foreign market, explain the process of exporting; if on the other hand your recommendation is for the House of Dorchester to expand through a joint venture, franchising or any other mode, you would need to explain the restrictions and requirements of the foreign market.

Assignment Submission Format (Structure)

• Use a cover page, Title Page, Contents’ page for the report.
• The main body of the report should be concise, formal business report.
• Use at least 1.5 spacing and Times New Roman/ Arial font size 12.
• Use headings, paragraphs, and subsections as appropriate.
• Support the work with research, in-text citations, as well as statistics when relevant.
• Provide Conclusion, evaluation, and recommendation.
• Use Appendices (if any)
• Use the Harvard Referencing Style for intext citation and reference list.
• Provide a reference list using the Harvard referencing system.
• Respect the word limit of 3,500 words (+/- 10%) excluding the cover page, contents page, list of references and appendices.

Note: Your submission will be word-processed, written work with clear indication of: the unit number and title, the relevant task being addressed, your name and registration number.

Learning Outcomes and Assessment Criteria Unit 43: Tapping into New and International Markets

Pass

Merit

Distinction

LO1 Analyze the opportunities and threats for firms exposed to an increasingly globalized environment

P1 Explain the global business environment in which small and entrepreneurial businesses operate.

P2 Analyze the threats and opportunities that face SMEs in an increasingly competitive global environment.

M1 Provide evidence- based analysis of the global business environment in which small and entrepreneurial businesses operate using specific examples.

M2 Critically analyze the implications of threats and opportunities that face SMEs in an increasingly competitive global environment.

LO1 and LO2

D1 Critically evaluate how SMEs are able to take advantage of international opportunities and overcome barriers.

LO2 Illustrate the advantages of trading blocs for firms

P3 Determine and analyze the advantages of international trading blocs and agreements.

P4 Explain the various tariff and non-tariff barriers that exist in the

international trading environment.

M3 Evaluate the advantages of international trading blocs and agreements and their implications for SMEs.

LO3 Determine the importing and exporting process and the practicalities involved

P5 Determine the advantages and disadvantages of importing and exporting and how to secure a deal.

P6 Explain the differences between merchandise and service imports and exports.

M4 Apply the appropriate import and export process to an organisation and make recommendations on how they could be applied in an international context.

D2 Produce valid and justified recommendations for use of different approaches in an international context.

LO4 Evaluate ways SMEs can tap into international markets

P7 Evaluate the various methods in which SMEs can tap into international markets.

P8 Compare and contrast the various ways SMEs can tap into international markets, assessing the pros and cons of each method.

M5 Evaluate different methods SMEs can use to tap into various markets with application to a small business or entrepreneurial venture, making valid recommendations.

D3 Justify recommendations with supported critical consideration and evaluation of the implementation of different methods.