Prac question for IBUS2301 mid semester exam

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The University of Queensland *

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2301

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Law

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Apr 30, 2024

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docx

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3

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Partnership with Tesla, Samsung and Trans Dev, in which REA helped them with their operations and in turn REA are able to learn from these more established companies about how to best succeed in the domestic market. Should consider expanding interstate in order to increase their customer base as well as increase profitability and increase brand awareness. Brand awareness is another one of their short-term objectives, which they currently is materialised by REA's various brand partnerships with major name companies as well as their name clients. R EA' s medium term initiatives include partnering with Transdev in order to create solar powered buses in preparation for the 2032 Brisbane Olympics, as well as the current expansion into the UK market, which began in November 2022. Lastly, in order for R E A to expand further into Texas, the short- and medium-term issues will have to be adjusted, such as further research into the state's political beliefs. Values and societal norms will have to be discussed. As Queensland has small population, therefore, REA should consider the opportunity to expand into other markets with higher population, like other states within Australia and also internationally as well where more houses provide more roofs for solar panel installation. So how might you be able to overcome the threat of saturation in a market by integrating with its other services across the business? As Australia has small population. Obviously massive generalisation, you'll have people living in part of Texas that do believe in climate change. (Second pitch) Compare your group’s first pitch with pitches presented by other groups in class. In approximately 250 words, what learnings did you take on board from the other pitches
that changed your understanding about international business management and REA’s potential regional expansion opportunities ? Include examples to strengthen your response. The biggest lesson I have taken from other pitches is the critical role of partnership, as this strategy brings enormous benefits and no additional costs. For example: when REA starts to invest in another country, there will be a challenge in manpower and capital. If the company duplicates the current business model, replicating that within Texas will cost a massive amount of money. To solve this problem, REA can partner with an existing installation team; REA can provide them with the product, and in return, they give REA a reasonable price on installation as a contractor. Therefore, REA would take a massive strain off the requirement for in-house employees. Furthermore, considering the other side regarding leads and sales, REA can partner with an existing marketing firm. Finally, REA is a supplier for the two companies currently operating in the country. As Australia has a small population, REA should consider expanding into other markets with a higher population, like the international market, specifically Texas, where more houses provide more roofs for solar panel installation. Based on the advantage of REA in Australia, which has the lowest price in the world for procurement due to the distance close to China and other Asian countries. Therefore, REA was able to get access at the lowest cost of raw materials, components, etc. Although REA has to be able to source the highest quality products at the lowest pricing, it still gives REA the opportunity to build that cost base and take it to overseas markets, where the customer is essentially paying double for the same product, but REA was able to purchase it at half the price of their competitors. Compare your group’s first pitch with pitches presented by other groups in class. In approximately 250 words, what learnings did you take on board from the other pitches that changed your understanding about international business management and REA’s potential regional expansion opportunities ? Include examples to strengthen your response. ( Teacher already checked!!!!) According to Michael Mrowka, when REA decides to invest in another country, human resources and capital will be the two main challenges. The company will be difficult if it duplicates the current business model, replicating that within Texas will cost huge amounts of money. This chanllenge can be olve this problem, REA can partner with an existing installation team. REA can supply them with the product, and in return, they, as a contractor, provide REA with a reasonable price for the installation. Therefore, REA would reduce the requirement for internal staff. Furthermore, considering the other side regarding leads and sales, REA can partner with an existing marketing firm. Additionally, I have gained insight from the other pitches that have changed my comprehension of REA’s regional expansion opportunities. As Australia has a small population, the market for solar panels could become saturated. Therefore, REA should consider expanding into other markets with a higher population. Moreover, REA has a significant advantage for procurement as Australia has the lowest price in the world. For instance: Texas could be an appropriate choice for REA’s expansion as its population is much higher than in Australia ( Size of Texas Compared to Australia , n.d.). Based on the advantage of REA in Australia, REA acquired the lowest cost of raw materials, etc. Therefore, this allows REA to build that cost base and take it to the markets in Texas, where the customer is
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