What is the difference between these types of economies and how might this affect your expansion?

Revise your Week 3 economic analysis using the feedback provided by your facilitator to evaluate the challenges of expanding your company’s production to a foreign market. This will require you to revise previously recommended pricing and non-pricing strategies for your company’s product based on the selected country’s economy’s stage in the business cycle and the projected economic conditions.

Discuss the evidence that supports your recommendations.

Select a foreign market in which to expand your chosen product.

Write a 1,750-word paper (including any material you include from your Week 3 assignment) detailing your findings. The use of tables and/or charts to display economic data over the time period discussed is highly encouraged.

Evaluate current global economic conditions and their effect on local macroeconomic indicators in your selected country. Consider forecasts for population growth, GDP growth, GDP per capita growth, export growth, and sales growth.
Differentiate the competitors’ existing production in the chosen country.
Assess forecast sales in the selected country.
Prioritize the type of economy that exists in your selected country-closed, mixed, or market. What is the difference between these types of economies and how might this affect your expansion?
Justify how your chosen country’s current credit market conditions affect demand for your product or service and your planning or operating decision for your production in that country.
Analyze the role of the selected country’s central bank on that country’s economy.
Compare the availability, education, and job skills of the work force in the selected country. Discuss the additional challenges of international production, such as political stability, availability of government financing or other incentives, threat of capital controls, and exchange rate risks.
Explain any additional supply chain challenges you anticipate if attempting to sell your product made in your chosen country to countries outside of that market.
Recommend any comparative advantages your company will have over competitors in that country.
Defend your position, either for or against, expanding your company’s production into your chosen country based on your research.

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