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Course Project Phase II

BUS6750 International Business Management

Calvin Durham Jr.

Shorter University

Professor Deondre Earl

April 9, 2023

Expanding to Italy: Marketing and Operational Strategies for Clippers Tour Company

Clippers Tour Company is considering expanding its operations to Italy, a popular tourist destination with strong demand for travel services. To successfully enter the Italian market, the company needs to develop effective marketing and promotion strategies and make operational adjustments to adapt to the local market. This paper will discuss key components of Phase II, including selecting a global company structure, financing sources for global business operations, creating a global management information system, identifying human resources for global business activities, managing global financial and business risks, and providing a summary of content and projections for Phase III.

Selecting a Global Company Structure

In order to establish a successful presence in Italy, Clippers Tour Company needs to select an appropriate global company structure. A global structure involves determining the objectives and organizational framework for its global business operations. One possible approach is establishing a subsidiary in Italy, which would allow the company to have a separate legal entity and enjoy certain tax benefits (Hitt et al., 2020). Another option is to form a joint venture or partnership with a local travel agency or hotel, which can provide access to local knowledge, customer base, and distribution channels (Cullen & Parboteeah, 2019). By carefully considering the advantages and disadvantages of different global company structures, Clippers Tour Company can make an informed decision that aligns with its strategic objectives.

Financing Sources for Global Business Operations

Expanding to Italy will require Clippers Tour Company to incur project start-up costs, including market research, marketing and promotion expenses, operational adjustments, and hiring local staff. To finance these costs, the company can consider various sources of funding. One option is to use internal funds from its existing operations or seek external financing from banks or other financial institutions (Keegan & Green, 2017). Another option is to explore government-sponsored programs or incentives for international business expansion (Hill, 2020). Clippers Tour Company can also consider strategic partnerships or alliances with local businesses in Italy, which can provide access to additional resources and reduce financial risks (Adiguzel, 2020). By carefully evaluating different financing sources, Clippers Tour Company can ensure that it has the necessary capital to support its international expansion plans.

Creating a Global Management Information System:

A sure way of facilitating international business activities, Clippers Tour Company needs to establish a global management information system that can effectively collect, store, process, and analyze data from different markets, including Italy. The process may involve identifying needed databases, information systems, and software applications that integrate data from various sources, such as customer preferences, market trends, and regulatory requirements (Rainer and Prince, 2021). The system should also generate timely, accurate reports and insights supporting decision-making and strategic planning (Czinkota & Ronkainen, 2020). By creating a robust and efficient global management information system, Clippers Tour Company can gain valuable insights into the Italian market and make informed decisions to optimize its business operations.

Identifying Human Resources for Global Business Activities

Hiring and managing human resources is a critical aspect of expanding to Italy for Clippers Tour Company. To operate an international enterprise, the company must identify the necessary personnel with the right skills, knowledge, and cultural understanding. Achieving the goal may involve recruiting local staff familiar with the Italian language, culture, and business practices and providing appropriate training and development programs to ensure that they can effectively meet the needs of Italian tourists (Deresky, 2021). Clippers Tour Company may also need to consider the potential challenges and cultural differences in managing a diverse workforce in Italy, such as communication styles, work attitudes, and labor laws (Roberson, 2019). By carefully selecting and managing human resources, Clippers Tour Company can build a competent and motivated team that can drive the company's success in the Italian market.

Additionally, the company may need to address legal and regulatory requirements related to hiring and managing employees in Italy, such as labor contracts, work permits, and tax obligations (Dowling et al., 2019). Clippers Tour Company should also develop strategies to retain and motivate its employees, such as offering competitive compensation packages, providing opportunities for career growth, and fostering a positive work environment that values diversity and inclusion (Ghani et al., 2022). By effectively identifying and managing human resources, Clippers Tour Company can ensure that it has the right talent in place to support its international expansion plans in Italy.

Managing International Financial and Business Risks

Expanding to Italy also entails managing various financial and business risks associated with operating in a foreign market. Clippers Tour Company needs to carefully assess and mitigate these risks to protect its investments and maximize its chances of success. The measures may involve conducting a thorough risk analysis and identifying potential risks such as currency exchange rate fluctuations, political instability, legal and regulatory changes, and competition (Hitt et al., 2020). The company should develop contingency plans to address potential risks, such as setting up appropriate financial hedging strategies, establishing local partnerships to navigate political and regulatory challenges, and developing flexible business models that can adapt to changing market conditions (Tkachenko et al.., 2021). Clippers Tour Company should also comply with local laws and regulations, including tax requirements, accounting standards, and business licensing, to avoid legal and financial penalties (Hill, 2020). By proactively managing international financial and business risks, Clippers Tour Company can safeguard its operations and achieve sustainable growth in the Italian market.

Summary of Content and Projections for Phase III

In this Phase II paper, Clippers Tour Company has discussed key components related to expanding its operations to Italy, including selecting a global company structure, financing sources for global business operations, creating a global management information system, identifying human resources for global business activities, and managing international financial and business risks. These components are crucial for the company's successful entry into the Italian market and for achieving its strategic objectives. In Phase III, Clippers Tour Company will focus on developing global distribution, global promotion, and international pricing strategies, analyzing financial results, and assessing international business success. Achieving such includes identifying distribution channels, designing culturally relevant marketing campaigns, setting competitive prices, tracking financial metrics, and evaluating performance against predetermined objectives. By addressing these components, Clippers Tour Company aims to optimize its global operations, achieve financial success, and establish a strong international market presence. By carefully planning and executing these strategies, Clippers Tour Company aims to establish a strong presence in the Italian market and achieve sustainable growth in the long term.

References

Adiguzel, Z. (2020). Competitiveness of International Business: Management, Economics, Technology, Environment, and Social Study of Cultural Perspective. In Handbook of Research on Decision-Making Techniques in Financial Marketing (pp. 68-91). IGI Global.

Cullen, J. B., & Parboteeah, K. P. (2011). Multinational management. Cengage Learning.

Czinkota, M. R., Ronkainen, I. A., & Cui, A. (2022). International marketing. Cengage Learning.

Deresky, H. (2022). International management: Managing across borders and cultures. Pearson.

Dowling, P. J., Festing, M., & Engle, A. D. (2019). International human resource management. Cengage Learning.

Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2019). Strategic management: Concepts and cases: Competitiveness and globalization. Cengage Learning.

Hill, C. W. (2020). International business: competing in the global marketplace. McGraw-Hill Education.

Adiguzel, Z. (2020). Competitiveness of International Business: Management, Economics, Technology, Environment, and Social Study of Cultural Perspective. In Handbook of Research on Decision-Making Techniques in Financial Marketing (pp. 68-91). IGI Global.

Roberson, Q. M. (2019). Diversity in the workplace: A review, synthesis, and future research agenda. Annual Review of Organizational Psychology and Organizational Behavior, 6, 69-88.

Rainer, R. K., & Prince, B. (2021). Introduction to information systems. John Wiley & Sons.

Ghani, B., Zada, M., Memon, K. R., Ullah, R., Khattak, A., Han, H., … & Araya-Castillo, L. (2022). Challenges and strategies for employee retention in the hospitality industry: A review. Sustainability, 14(5), 2885.

Tkachenko, V., Kwilinski, A., Tkachenko, I., & Puzyrova, P. (2019). Theoretical and methodical approaches to the definition of marketing risks management concept at industrial enterprises. Marketing and Management of Innovations.

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Course Project Phase I

BUS6750 International Business Management

Calvin Durham Jr.

Shorter University

Professor Deondre Earl

March 26, 2023

Business Expansion Plan for Clippers Tour Company to Italy

Clippers Tour Company is a US-based tour company that specializes in providing high-quality travel services to its customers. The company has been operating in the United States for several years and has established a strong reputation for itself in the market. The company is now considering expanding its operations to Italy, one of the most popular tourist destinations in the world. This paper will provide a business expansion plan for Clippers Tour Company to enter the Italian market. The plan will incorporate and address the critical areas of international business, including identifying global business opportunities, analyzing international competitors, and assessing the economic-geographic, social-cultural, and political-legal environments.

Introduction to Clippers Tour Company

Clippers Tour Company is a US-based tour company that has been in operation for several years. The company provides various travel services, including tour packages, travel arrangements, and accommodations. The company has established a strong reputation in the United States and is considering expanding its operations to Italy.

Current International Position

Clippers Tour Company has not yet expanded its operations outside the US. The company's primary market is domestic travelers in the US. The company has a solid online presence, attracting clients from around the world interested in traveling to the US.

Overview of the Plan for Expansion

The Board of Directors has identified Italy as a potential market for expansion due to its rich culture, history, and beautiful landscapes. The company aims to provide customized tour packages to clients who are interested in experiencing the best that Italy has to offer. The company plans to offer several cultural, adventure, and luxury tours to cater to a diverse clientele.

Identifying Global Business Opportunities

Italy is one of the most popular tourist destinations in the world, attracting millions of visitors every year. According to a report by Euromonitor International (2020), Italy is the fifth most visited country globally, with over 94 million international visitors in 2019. The tourism industry significantly contributes to Italy's economy, accounting for a significant share of the country's GDP. According to a report by Statista (2021), the tourism industry in Italy is a significant contributor to the country's economy, accounting for a significant share of the country's GDP. The report indicates that Italy is one of the most popular tourist destinations in the world, attracting millions of visitors every year. The wide market presents a significant opportunity for Clippers Tour Company to enter the Italian market and tap into the growing demand for travel and tourism services.

Analyzing International Competitors

Clippers Tour Company needs to identify domestic and international companies involved in similar business activities in Italy. The company needs to analyze the strengths and weaknesses of its competitors and develop strategies to gain a competitive advantage. According to a report by Euromonitor International (2020), Italy has a highly competitive tourism industry, with domestic and international companies operating in the market. The report indicates that TUI, Expedia, and Booking.com have a significant market share in Italy's tourism industry. Clippers Tour Company needs to thoroughly analyze its competitors and develop a unique value proposition that differentiates it from its competitors.

Assessing the Economic-Geographic Environment

Italy is the eighth-largest economy in the world and the third-largest in the European Union (Statista, 2021). The country has a highly diversified economy with a mix of traditional industries and modern services. The service sector is the largest contributor to the economy, accounting for more than two-thirds of the GDP. The country's strong tourism industry generates significant revenue for the economy (Statista, 2021). The geographic location of Italy is also favorable for business expansion. Italy has access to major transportation routes, including highways, railways, and seaports. The country also has a well-developed telecommunications infrastructure, making communicating with customers and partners worldwide easy.

Identifying Global Business Opportunities

Expanding to Italy presents Clippers Tour Company with numerous growth opportunities. Italy is a popular tourist destination, attracting millions of visitors every year. According to the Italian National Tourist Board (2020), the number of international tourists visiting Italy has steadily increased. The country has a rich cultural heritage, with numerous historical landmarks and museums that attract tourists worldwide. Italian cuisine is also a major draw for visitors, with Italian dishes being popular in many parts of the world.

Analyzing International Competitors

In the tourism industry, Italy has several established tour companies, including Trafalgar Tours, Tauck World Discovery, and Collette Tours. Trafalgar Tours, with its headquarters in Switzerland, is the market leader in guided holidays in Europe, including Italy, with over 70 years of experience in the industry (Trafalgar, 2021). Tauck World Discovery, an American-based company, has been providing tours to Italy for over 25 years (Tauck, 2021). Collette Tours, another American-based company, has been providing tours to Italy for over 100 years (Collette, 2021).

Assessing the Social-Cultural Environment

A rich cultural heritage, strong family ties, and a passion for food and wine characterize Italy's social and cultural environment. Italy is known for its art, architecture, and music, which significantly influence the country's social and cultural landscape. Italian society is also family-oriented, with family ties playing a central role in daily life. Italian cuisine is also an integral part of the country's social and cultural fabric, with food and wine being an important part of social gatherings and celebrations.

Assessing the Political-Legal Environment

Italy has a mixed legal system that incorporates civil and common law elements. The legal system is generally considered efficient and transparent, although there are concerns about corruption and the slow pace of the judicial system (Euromonitor International, 2020). Italy is a member of the European Union, which provides companies access to a large market and a common regulatory framework. The government has also implemented several measures to encourage foreign investment, including tax incentives and streamlined procedures for company registration.

Marketing Strategy

Clippers Tour Company needs to develop a comprehensive marketing strategy to expand its operations to Italy successfully. The strategy should focus on the company's unique selling points and target specific market segments. Market segmentation is crucial in developing an effective marketing strategy (Kotler & Armstrong, 2017). Clippers Tour Company can segment the market based on demographic factors such as age, income, and education level. The company can also segment the market based on psychographic factors such as lifestyle, personality, and values.

Social media marketing can enhance luxury brand customer equity (Kim & Ko, 2012). Clippers Tour Company can leverage social media platforms such as Facebook, Instagram, and Twitter to promote its services to potential customers. The company can also use search engine optimization (SEO) techniques to improve its visibility in search engine results pages (SERPs). SEO involves optimizing the content on the company's website to make it more search engine-friendly.

In conclusion, Clippers Tour Company plans to expand its business to Italy, a country with a rich cultural heritage, beautiful scenery, and a vibrant tourism industry. The company's success in the US market provides a strong foundation for expansion into the international market. However, it is essential to thoroughly analyze Italy's economic-geographic, social-cultural, and political-legal environments to ensure a smooth and successful entry into the market.

The economic-geographic analysis has revealed that Italy is a highly developed economy with a stable political environment and favorable business laws and policies. However, the tourism industry has been affected by the COVID-19 pandemic. Therefore, the company needs to develop strategies to mitigate the impact of the pandemic on its business. The social-cultural environment analysis has shown that Italy has a rich cultural heritage that provides opportunities for cultural tourism. However, the company needs to be aware of cultural differences and adapt its services to meet the needs and preferences of the Italian market. The political-legal environment analysis has revealed that Italy has favorable business laws and regulations. However, the company must comply with local laws and regulations to avoid legal and regulatory challenges.

In summary, Clippers Tour Company's entry into the Italian market is a viable business opportunity that requires a comprehensive analysis of the economic-geographic, social-cultural, and political-legal environments. The company needs to develop a marketing strategy that considers the Italian market's unique characteristics to ensure the success of its business expansion.

References

Collette. (2021). Italy Tours. Retrieved from https://www.gocollette.com/en/tours/europe/italy

Euromonitor International. (2020). Travel and Tourism in Italy. Retrieved from https://www.euromonitor.com

Italian National Tourist Board. (2020). Tourism Statistics. Retrieved from https://www.enit.it/

Kim, Y., & Ko, E. (2012). Do social media marketing activities enhance customer equity? An empirical study of luxury fashion brand. Journal of Business Research, 65(10), 1480-1486.

Kotler, P., Bowen, J. T., & Makens, J. C. (2017). Marketing for hospitality and tourism (7th ed.). Pearson Education, Inc.

Statista. (2021). Italy: tourism industry revenue 2019-2023. Retrieved from https://www.statista.com/statistics/269891/tourism-industry-revenue-in-italy/

Tauck. (2021). Italy Tours. Retrieved from https://www.tauck.com/tours/europe-tours/italy-tours

Trafalgar. (2021). Guided Tours to Italy. Retrieved from https://www.trafalgar.com/en-us/destinations/europe/italy

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Course Project Phase III

RE: This is the concluding project for this Graduate International Business course. It offers the students the opportunity to show mastery of all of the key concepts covered in the course and the mastery of designing a successful international business strategy. The project involves a plan for the expansion of business to another country (with no current presence) and you are required to present the plan to the Board of Directors for approval. Your plan must incorporate and address the following critical areas in International Business:

1. Global Business Opportunities (Phase I)

2. International Competitors (Phase I)

3. The Economic-Geographic Environment (Phase I)

4. The Social-Cultural Environment (Phase I)

5. The Political-Legal Environment (Phase I)

6. Global Company Structure (Phase II)

7. Financing Sources for Global Business Operations (Phase II)

8. Global Management Information System (Phase II)

9. Human Resources for Global Business Activities (Phase II)

10. International Financial and Business Risks (Phase II)

11. Product and Target Market Planning for Foreign Markets (Phase III)

12. Global Distribution Strategy (Phase III)

13. Global Promotion Strategy (Phase III)

14. International Pricing Strategy (Phase III)

15. Financial Results (Phase III)

16. International Business Success (Phase III)

The project has 3 phases:

Phases 1 and 2 have independent critical areas in International Business.

Phase 3 also has independent critical areas in International Business but includes refined phases 1 and 2 (using professor’s feedback), making one Final Project document.

Key Components of Phase III Paper:

1. Table of contents.

2. Abstract –

An abstract is a brief summary of the paper, allowing readers to know the main points, and what was achieved in the paper (written in the past tense). It must be a single paragraph in block format (without paragraph indentation), and the appropriate length is typically between 150 and 200 words. Section 2.04 of the APA manual has additional information about the abstract.

3. Introduction to your paper – Since the first paragraph or section of a document is assumed to be the introduction of the paper, the word 'Introduction' is not needed. Do not begin a paper with the word 'Introduction' as a heading (APA, 2020, p. 47). The paper’s title should be the first heading above the first body paragraph of your paper and must be bolded – Check Sample Student paper (APA, 2020, pp. 61-67)

4. Revised – Introduction of the Company – give an overview of the company, the current international position, and an overview of the proposed country of entry:

1. The countries where the company is already available.

2. The proposed country for entry.

3. The proposed entry type – FDI or not?

5. Revised – Identifying Global Business Opportunities

· Determine potential international markets for existing or proposed goods and services

6. Revised – Analyzing International Competitors

· Identify domestic and international companies involved in similar business global business activities

7. Revised – Assessing the Economic-Geographic Environment

· Examine geographic and economic factors that affect the business environment of a nation

8. Revised – Assessing the Social-Cultural Environment

· Research social institutions, customs, traditions, and beliefs influencing business

9. Revised – Assessing the Political-Legal Environment

· Research the influence of government and regulations on business activities

10. Revised – Selecting a Global Company Structure

· Suggest objectives and an organizational framework for global business operations

11. Revised – Financing Sources for Global Business Operations

· Project start-up costs and funding sources for international operations

12. Revised – Creating a Global Management Information System

· Identify needed databases and information systems to facilitate international business activities

13. Revised – Identifying Human Resources for Global Business Activities

· Gather information on needed personnel for operating an international enterprise

14. Revised – Managing International Financial and Business Risks

· Identify methods for reducing global business risks

15. Product and Target Market Planning for Foreign Markets

· Identify specific attributes and customer benefits for a proposed international product or service

16. Designing a Global Distribution Strategy

· Analyze distribution channels and intermediaries for global business operations

17. Planning a Global Promotion Strategy

· Suggest advertising messages, media, and other promotional activities for an international enterprise

18. Selecting an International Pricing Strategy

· Recommend a global pricing strategy based on costs, market demand, competition, and economic environment

19. Determining Financial Results

· Estimate revenue and costs based on international business activities

20. Measuring International Business Success

· Suggest potential criteria for global business accomplishments based on financial results and social contributions

21. Conclusion contextualizing your project.

22. Not less than 20 references (12 are already from the two phases)

Course Project Phase III must be in APA format

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