Objectives: Theobjective of this project is to provide students the understanding of international business practices in Saudi Arabia. To learn about the potentials and threats of doing international business and the role of governmental institutions in this regard. It will provide information regarding how does cultural, economic, political and regulatory differences force organizations to change their business strategies in Saudi Arabia.
Description of the project: For the last 60 years, Saudi Arabia has assumed a vital economic role and has been situated on the center stage of the global economic and political scene. While the market was once dominated by American and British firms, and later Japanese corporations, Korean and Chinese companies have now aggressively entered the market and have posed serious challenges to entrenched multinational corporations. The Saudi market has newly become an arena for unbridled competition. As companies must adapt and embark on creative means to sustain their positions in dynamic markets, multinational corporations must also find a comprehensive approach to dealing with cultural and political developments. Having a competitive edge demands familiarity with market nuances and peculiarities in addition to providing quality product and service.
Requirements: You are required to take any international company of your choice (not Saudi based company), introduce the product offerings of the company their strategy of doing business in Saudi Arabia. You are required to find the opportunities and challenges of doing business in Saudi Arabia for selected international company. The important thing is to examine how company customize its products and other business strategy to better serve this market. You should interview some key managers of the company to collect data related to specific opportunities available to the company and the country/market specific challenges that force company to change its strategies. It is important to identify the differences in strategies for such company in Saudi Arabia as compared to their home country. After the detailed critical analysis, you should come up with some key findings, the recommendations to better exploit opportunities for doing business in Saudi Arabia and to deal with the challenges being faced in this market. Some SWOT and PESTEL analysis are suggested to analyze the Saudi business environment. You should also study about the role of governmental institutions in facilitating the international organizations for doing business in Saudi Arabia. The bottom-line is to examine how the cultural, economic, political, social, legal and other business related factors force business organizations to change their strategies for doing business in Saudi Arabia.
Deliverables: You should provide a detailed written report having at least 7-8 pages in hard and soft form.
Format: The project report should be written in well-organized and professional manner. It should contain Executive Summary, Table of Contents, some introduction, analysis, recommendations, findings and conclusion sections. The format should include: New Times Roman style with 12 font size, 2 line spacing, no headers and footers. You should also provide the references for the material used in your project report.
I want you to talk about IKEA in Saudi Arabia for this assignment.