You will identify a local small business in your area, and develop a strategy for expanding that business in either a regional, national, or global market.
In your 2- to 3-page paper, be sure to address the following:
Identify the business you selected, and provide a brief description of the services provided.
Identify which geographic market you selected (regional, national, or global).
Why do you believe the business could succeed in this new geographic market?
What are the benefits of expanding into this geographic market?
What are the risks of expanding into this market?
What obstacles will the business have to overcome? Take into consideration seasonality and supply chain management (i.e. vendors, raw materials, in-bound logistics).
What strategies will help lead the business to success over the initial year of the expansion? Justify your response.
What strategies will help lead the business to success over the next three to five years? Justify your response.
How will the business maintain its branding while expanding into the new geographic market?
RESOURCES TO BE USED:
-Entrepreneurial Small Business
Chapter 11, “Small Business Distribution and Location”Chapter 11 provides an overview of small business distribution and location strategies.Focus on the factors involved in selecting a location.
– Juntunen, M., Saraniemi, S., Halttu, M., & Tähtinen, J. (2010). Corporate brand building in different stages of small business growth. Journal of Brand Management, 18(2), 115–133.
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