Will Bury Scenario International Expansion Essay

1479 words - 6 pages

Will Bury PAGE \* Arabic 4
Running Head: Will Bury Goes Global ScenarioWill Bury Goes Global ScenarioMilton RamosUniversity of PhoenixHRM 531 Human Capital ManagementGroup: MBAY0SRFZ5Instructor: Juan StegmanSeptember 27, 2010Workshop 1, Assignment 1IntroductionWill burry has developed a method to digitize books from print to audio. Will's production of digitized books is in the initial release stages, production of his product is limited to a one-man operation. Will is not satisfied with the initial sales from his books. Initial book release have included new titles, still under copy right and older titles with no copy right royalties to pay. All current digital book sales have been in the domestic market but Will is looking to expand his product internationally. To Will's surprise the newer and more expensive digital books sold better that the older cheaper copies and now Will needs to find the reasons why, before expanding his customer base.Economic ConceptsWill needs to consider all the resources he will need to expand his operation. Labor, currently Will is digitizing all the books himself, expansion and increase of output requires an increase in head count to keep up with the demand. Will also needs to consider location where the work will be digitized, digitizing of books can be done anywhere but additional machines to digitize books will require some capital investment to purchase the parts, pay for the labor, copy right fees, and patents for his inventions.Will also needs to understand his opportunity cost in offering digital books overall other products currently offered and how to differentiate to add value over all other alternatives. Digital copies of new book titles have out sold older book titles during the initial release. Will needs to develop a supply and demand model to understand his equilibrium point, in which supply coincides with demand and understand the non-price determinants and price determinants of the demand which can include customer preference, income, and the price of related goods. Evaluation of price elasticity of demand can then take place to determine the responsiveness of the price of the product against the quantity demanded. Will can then evaluate the results of demand on the market as he changes the price of his product and the affects of substitutes and importance to the customer's budget.International ExpansionWhen considering expansion into global markets a full evaluation of current business capabilities and competitiveness must be clear to determine demographic, political, economic, and social factors before determining the best markets to enter and compete in. For this scenario consider the three largest markets for Unites States products which are Canada, Japan, and Mexico (U.S. Department of State, 2010).Trade and investments between Japan and the United States reached $101.6 billion in 2008 according to the economic data gathered by the U.S. Department of Commerce with a great deal of significance...

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