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I have an interesting task basically I am in a group for a class called Global Marketing, and what I need to do is create a singular slide on a SWOT analysis (strengths, weaknesses, opportunities, and threats) This is a description of the assignment as a whole: Brief description of the client problem you are developing marketing to solve: The goal of this project is to understand Colombia as a country and as a global marketplace to see whether or not entering a packaged goods food product would do well in Colombia based on our research findings. This is information I have
This is information I have as well Columbia: a Global Market
Businesses thrive when they operate in an environment that is conducive and favorable. There are several factors that make a business environment conducive. These factors can either be political or legal or both. The paper will discuss whether Columbia is a worthy business environment based on their political and legal environment.
Political Environment
Columbia is a democratic states that is governed by the president. The country follows the rule of law giving the president the mandate to be the head of state as well as the government. The government of Columbia is focusing on developing infrastructure in the cities which in turn facilitates a favorable business environment. The government of Columbia offers a friendly environment for business even to foreign investors such as USA. The infrastructure allows ease of connection from one commercial hub to the next making trade easy. (CASTLE, 2022) The country has political stability that attracts foreign investors looking for new opportunities.
Legal Environment in Columbia
Institutional support to start a business in Columbia is strong. This is because the country has a government that strongly encourages foreign investors into the land. The country has few legal formalities required before one can start a business. Using a series of simplified 7 step journey one can be able to easily venture into business and flourish in the environment. The country offers low corporate tax even to foreign investors and has free trade deals worldwide.
The environment in Columbia is safe and sustainable, favorable for business endeavors for both local and foreign investors. Therefore, entering packaged goods in Columbia for trade is highly supported as long as proper channels are followed before engaging in business.
My job is to do a SWOT analysis (strengths, weaknesses, opportunities, and threats)
This is the business strategy: Goal: To identify and create an optimal global market entry strategy for a business sector that would be attractive to Colombia.
How did we choose our market entry strategy?
Researched economic, political, legal, social, cultural, technological, and natural environmental factors within Colombia
Natural Environment
Colombia has had ongoing issues with mass deforestation
A packaged food product plant could definitely contribute to this deforestation issue
Any packaged food production generally negatively affects the environment through pollution, deforestation, etc.
Current competitors and their financial or market power
Barriers to entry and potential future competitors
If relevant, past efforts that have failed
Supplier power in the supply chain
Intermediary buyer power in supply chain