Country Report on the Republic of BulgariaOverviewEvery nation maintains relative advantages and disadvantages in terms of development and global trade. This project is designed for you to assess the factors affecting growth and globalization to make a reasoned determination of opportunities and threats facing the country and the businesses that operate within its boundaries.Note: While the research components in each of the phases are designed to provide a comprehensive analysis of this aspect of this report, selected items may be used to gather information for a specific element.Table of ContentsPhase 1 – Historical FactorsDescribe how the history of the country affects its present and future.• History matters. To the culture, to governance, to expectations, and to globalization.• Also consider geography, resource endowments, and factors of production: labor, energy, land, capital, & entrepreneurship.PHASE 2 – The Macro-Environment (PESTEL)Analyze the political, governmental, economic, and socio-cultural aspects of the country. Develop a PESTEL analysis.• Political: collectivist vs. individualist, democratic vs. totalitarian, market vs. command, private vs. state, current conflicts and foreign relations, regulations, etc.• Economic: GDP, FDI, tariffs and trade barriers, key industries, major exports and imports, exchange rate fluctuations, etc.• Socio-Cultural: education level, attitude toward foreign goods, major language(s), art and cuisine preferences, etc.• Technological: transportation, skilled labor, innovation requires market with strong property rights, ENT ecosystem/clusters, etc.• Environmental: environmental regulations, historical record, key protections, etc.• Legal: legal systems, contract law, property rights, intellectual property, safety, liability, etc.PHASE 3 – CultureGain cultural intelligence of the country and its people.• Assess the country’s values, norms, ethics, religious beliefs, etiquette, holidays, work/life balance, language, education level, etc.• Hofstede Dimensions: Power Distance, Individual vs. Collective, Uncertainty Avoidance, Masculine vs. Feminine, Long-term vs. Short-term, Indulgence vs. Restraint.PHASE 4 – The MarketplaceGather market intelligence of the country.• Assess the country’s consumer demographics, tastes, purchasing power, segmentation, & advertising norms• Assess the country’s supplier demographics including the distribution system, production capabilities, areas of resource uniqueness, etc.• Assess the major industries and companies that reside within the country.PHASE 5 – AssessmentCreate your recommendations.• How can the country overcome its major political challenges?• How could you improve the country’s economic outlook?• What are the major barriers to success in the global marketplace that could be reduced?• What are the country’s major advantages in the global marketplace?• Would you set up a multi-national company in this country?• What business/industry would you suggest has the most opportunity in the country?For Chart: use Hofstede Dimensions and compare with neighboring countries.
