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Environmental Analysis for A New and Innovative Product Discussion

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In this assignment, you will examine the external environment and discuss the management of innovative business development on a global scale.

Part 1: External Environment Analysis 

Conduct an external environment analysis for a new and innovative product or service that you have developed. This can be a real or hypothetical product or service. First, describe your product or service. Based on your analysis, identify key opportunities and threats that your start-up may face. Explain how you plan to manage these opportunities and threats on a global scale. Here are the factors you should include in the analysis:

Economic factors (e.g., market size, growth rate, inflation, exchange rates)

Social factors (e.g., demographic trends, cultural factors, consumer behavior)

  1. Technological factors (e.g., innovation, automation, internet, and mobile technologies)
  2. Political and legal factors (e.g., government policies, regulations, taxes)
  3. Environmental factors (e.g., sustainability, climate change, carbon footprint)
  4. Part 2: Management of Innovative Business Development on a Global Scale
  5. Discuss the management of innovative business development on a global scale. Consider the challenges that start-ups face when expanding into new markets and explain how you plan to overcome these challenges. Your discussion should include the following elements:

Market entry strategy

International expansion strategy

Supply chain management

  • Intellectual property management
  • Cross-cultural communication and management