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Pages:
3 pages/β‰ˆ825 words
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12 Sources
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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MS Word
Date:
Total cost:
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Topic:

Key Risks/Challenges Associated with the Australian Market

Essay Instructions:

Report form: consulting-style, 12-point front, 1.5 spacing, insert page number

Words: no more than 3000 words including Tables/figures

Cover page: names, SID, word count

References: APA7

Product: Exoskelotons

Organisation: German Bionic

Market Entry: Australia

Assignment 1: Where (considering Location) - Is Australia an attractive host location for German Bionic for their Exoskeleton product?

-          present an overview of the company and exoskeleton product offering before providing a systematic assessment of the proposed host market.

-          The company overview should outline German Bionic’s strategy, their value chain activities (i.e. what they do), their resources and capabilities and competitive advantage. (Rule of thumb: no more than 1/3 of total word count.).  (650)

Your assessment of the host market should address the following questions:

-          Is Australia an attractive market for German Bionic’s exoskeleton products? Why or why not? There are of course lots of generic reasons that may make Australia an attractive or unattractive market (e.g. high disposable income (Porter’s Diamond); comparatively small population). While these points may be worth mentioning, focus your analysis on the specific issues that make Australia an attractive (or unattractive) market for German Bionic and its exoskeleton offering. This is the sort of fine-grained, specific analysis that one would expect from a consulting-style report. (the host market’s advantages and disadvantages) (1600)

-          What key risks/challenges are associated with the Australian market?  (650)

-          Conclusion (100)

This is a group assignment, you only need to write the part that I highlighted in the assignment details, which is - What key risks/challenges are associated with the Australian market? 650 words.
Make sure use at least 2 journal article references. And try to connect with seminar theories. There's also a sample has been provided to you. PLEASE DO NOT use any AI platform. Thank you.

Essay Sample Content Preview:

Global Strategy
Author’s Name
The Institutional Affiliation
Course Number and Name
Instructor Name
Assignment Due Date
Key Challenges and Risks
Given the growing interdependence of the world's economies, businesses considering expansion should carefully contemplate the risks and difficulties in their target markets (Khan et al., 2020). Thus, the current global and regional socioeconomic environment is especially relevant to understanding German Bionic's decision to launch its Exoskeleton product to the Australian market (Smith & Sepasgozar, 2022). The key risks and challenges the Australian market presents for German Bionic from a liberal and a realist perspective are examined below.
Intensifying Rivalry
The launch of EksoNR by Royal Rehab highlights Australia's desire for cutting-edge rehabilitation technology (Fosch-Villaronga & Drukarch, 2021). In aiming for Australia's lucrative market, German Bionic must contend with local rivals and global behemoths drawn to Australia's cutting-edge ICT infrastructure and progressive tax incentives (World Economic Forum, 2023). Therefore, intensified competition could lead to reduced profit margins, increased competition in innovation, and higher marketing expenditures. Chu (2012) highlights that international markets, despite their potential, can include unexpected barriers to competition. Realism theory proposes that geopolitical tensions significantly shape trade dynamics, adding complexity to the landscape (Abbondanza, 2022). Thus, Australia's involvement in global conflicts, such as the Russia-Ukraine situation, can impact trade regulations unpredictably (Allam, Bibri & Sharpe, 2022). According to Govaerts et al. (2023), to successfully navigate Australia's challenging and competitive market, German Bionic should assess for external geopolitical changes.
Regulatory Difficulties
Realism emphasizes strong states' influence on international trade dynamics (Bai et al., 2022). Hafner and Tagliapietra (2020) highlighted that Australia is not immune to geopolitical tensions that might alter trade relations despite its progressive nature. Regional conflicts can profoundly impact international business regulations, as seen in the conflict between Russia and Ukraine (World Economic Forum, 2023). As Australia attempts to find its place amid global geopolitical confrontations, German Bionic should be ready for potential regulatory shifts.
Consumer Preferences
Recognizing user control preferences is still essential for exoskeleton technology's adoption as it develops. According to Lopes et al. (2021), in control Preferences of Bilateral Ankle Exoskeletons, a study finds observable variations in preferences based on technical education and walking speeds, pointing to the importance of customization and adaptability. In addition, the rising cost of living and increased social polarisation in Australia could lead consumers to reevaluate their values (Sahebi & Formosa, 2022). Therefore, German Bionic should customize its exoskeleton offerings to accommodate dynamic preferences to avoid challenges in product acceptance (Govaerts et al., 2023). Balancing innovation with user-centric designs becomes essential to ensure their exoskeletons resonate ...
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