Identify the industry your company will be in (i.e., what will you manufacture?)

The industry I chose to be in would be Medical Equipment manufacturing.

Describe the macroeconomic indicators that you will look for in order to decide where to expand.

The macroeconomic indicators I will look for to decide where to expand and create opportunities for my business are a countries inflation rate, unemployment rate, GDP, and the central bank's monetary policy. I would access the need for medical devices and look for opportunities in developing countries (Fang, 2020).If the country is moving towards developing infrastructure such as hospitals or clinics the need for the products would be higher.

Inflation in a nation that is high or rising would limit the amount a consumer and business would be able to spend on products.This would limit the ability to grow my business in this area. The next area would be the countries GDP and if their GDP is growing it signals growth in their economy and the ability to make purchases for the medical equipment.I would then analyze the unemployment rate and identify if the country is prospering, and the population is working and able to sustain growth and purchasing power in the market.Lastly, I would review the countries monetary policy to see if it is in an expansionary policy model.This would further indicate that they are growing and interest rates for capital purchases, such as medical equipment would be available for borrowing.

Describe the microeconomic indicators that you will look for in order to decide where to expand.

The main microeconomic factor would be competition in the market.I would need to assess if the cost of shipment to this country would still be profitable or if another competitor is near by to meet the countries needs for equipment.I would also need to analyze consumer preferences and the need for the types of equipment I can provide to the country's medical community.If they are not able to perform certain procedures or have good infrastructure to grow w medical facilities, I may not be able to market the products to their needs and would lose profits.

What research/data would you need to determine how best to enter the foreign market?

Other than GDP, unemployment, and inflation rates it would be prudent to understand the countries culture.The need for western medicine may be frowned on in certain parts of the world and the consumers may not want the products.I would also need to analyze the corruption that may exist and if the products sold to this country would be taken and sold on the black market, or would they get to the companies that need them for medical procedures.Once this was done, I may want to work with specific firms to gain access to the market or develop pricing contracts to be competitive in the country's medical facilities.

How would you use that research/data to decide on timing, strategic partnerships, and financing?

The need to enter the market the correct time is critical, and the focus should be on the emerging market growth and reduced interest rates, which signal that the economy is right to grow my business and expand the economies of scale of the business.Once this is stablished my ability to work with vendors and develop strategic partnerships with distributors in the country would be a next step.This would then require the ability to gain financing in the central bank system so that the dollars spent and received can be transferred in the proper channels to track revenue and expenses. Lastly, the knowledge of the monetary policy and the forecasted trend would help to understand if the market were expanding or contracting.This final piece would help the business know where to start and how risky the venture would be to the company.

1. Share some ideas about other resources that could be used to determine:

• Macroeconomic indicators for achieving economies of scale
• Microeconomic indicators for achieving economies of scale

1. Identify three (3) global markets (i.e. countries) that you think you should consider for the business, with a specific rationale for each country.