Assignment Cover Sheet

Qualification Module Number and Title

HND in Business Management BHND5201 International Business

Student Name & No. Assessor

Anne Abeyrathne CL/HNDBSM/85/47 Randika Dulanthi
Hand out date Submission Date

01st of June 2020 30th of July 2020

Assessment type Duration/Length of Weighting of Assessment
Written Report Assessment Type
3000 Words 100%

Learner declaration

I, Anne Abeyrathne CL/HNDBSM/85/47, certify that the work submitted for this assignment is
my own and research sources are fully acknowledged.

Marks Awarded
First assessor

IV marks

Agreed grade

Signature of the assessor Date

FEEDBACK FORM
 INTERNATIONAL COLLEGE OF BUSINESS & TECHNOLOGY

Program HND in Business Management No of 1st Attempt 2nd Attempt

Unit No BHND5201 Attempt (Original 
Submission) (Re-submission)

Unit International Business Assessment type & Individual Coursework

(Weight) (100%)
Student Anne Abeyrathne
Assessors’ Name & Sig.
Name CL/HNDBSM/85/47 Date of Evaluation

Task Assessors’ Feedback

Task
No
Explain the advantages and
disadvantages of doing
1
international trade to Dream
Cloud Ltd
Research 5 cultural dimensions
using Hofstede’s five cultural
dimensions in the countries of the
2
selected cluster. You may choose
2 countries and study the cultural
dimensions
Considering the organization’s
internationalization objective,
carry out a country evaluation for
2 countries which you deemed fit
3
for this organization to expand
into. Show references for all the
facts and data you present in the
evaluation
Considering the objectives, decide
and clearly justify the mode of
4 entry to the country you selected
in task 03

Considering the objective of

marketing overseas suggest an
5 international strategy covering the
following briefly

*Please note that the final result of an assessment is subject to Exam Board review. Above is
a constructive feedback only.
Acknowledgements

First and foremost, praise and glory to the Lord Almighty, who has bestowed all blessings
and grace upon me. Without your kind mercy nothing indeed would have been possible.
A heartfelt gratitude to the lecturer of the International Business module Ms. Randika
Dulanthi, all your efforts, which have led to the understanding of international business, are
highly admirable. The online lecture sessions were effectively conducted despite all the
difficulties of the country's lock-down situation. A successful academic report completion
was accomplished by your continuous assistance and guidance.
Last but not least, I would like to express my gratitude to everyone at home and to all my
colleagues who have supported me in every possible manner.
Executive Summary
Ancient business transactions were confined only to the home country, but then, as the
concept of globalization appeared in the business world, business transactions ended up
taking a whole new outlook. Business enterprises have gradually mastered the art of
international business with the help of the forces of globalization and sized great
opportunities across country boundaries.
This report covers the fields of international business analysis and assesses the country's
evaluation and selection criteria regarding international trade.
The author of the report has defined the advantages and disadvantages of joining international
business in relation to the given case. The connectivity between a business entity and
international trade has been clearly expressed by the author. The report also elaborates on
how Dream Cloud Ltd. should follow the five cultural dimensions of the Hofstede for
the two potential countries. The author has researched why Dream Cloud Ltd. should
pick Malaysia and the Philippines from the south-east region. The content of the report
presents a step-by -step detailed approach.
Moving on, the writer demonstrates the country selection and evaluation criteria separately
for the viable markets. Relevant examples are provided for even better comprehension. At the
end of the academic report, the author explains the reasons for the mode of entry into the
chosen country. It gives a vivid picture of Dream Cloud Ltd 's international business
planning process.
In addition, the report covers information on the various international strategies in business
practice as well as the objectives of Dream Cloud Ltd. The suggested approach is being
designed involving supplier sourcing, production and marketing, marketing mix adaptation
and the significance of international human resource management. All answers to the
academic report are accompanied by valid resource articles in order to provide a solid basis
for explanations.
Task 01 - Environment Analysis & Country Selection

1.0 Advantages and Disadvantages of international trade to Dream Cloud

Ltd.
1.1 Advantages of engaging in International Trade to Dream Cloud Ltd.
1) The Dream Cloud brand name will be globally recognized among international buyers
and the Dream Cloud customer base will expand.
2) When the company's mattress market proportion rises, the overall company growth
rate will be higher.
3) Dream Clouds' net profits will increase through cross-county sales and eventually it
will increase the financial strength and profitability of the company.
4) Dream Cloud Ltd. will be able to contribute more towards Sri Lanka's economic
growth by increasing its export share of the annual gross domestic production rate.
5) As the Sri Lankan rubber plantation industry will be empowered. The living standards
of society would be enhanced by reducing unemployment, ensuring
business sustainability of Dream Cloud Ltd.

1.2 Disadvantages of engaging in International Trade to Dream Cloud Ltd.

1) There is a tendency for the company not to flourish in potential countries and the
demand for mattresses in Sri Lanka would also decline due to lack of attention and
investment.
2) Dream Cloud Ltd. will have to compete aggressively with existing market rivals in
order to gain a certain share of potential countries. This requires a skilled workforce
and proper funding.
3) The company will have to allocate a significant sum of money for advertising, since
this product is new to the market, so if the anticipated revenue is not earned during the
first few months of the sales of mattresses, the expense cannot be incurred by any
other means.
4) As Dream Cloud Ltd. operates from Sri Lanka, they would have to comply with local
laws, which are very complex, and the registration process itself needs
extensive documentation. (Sri Lanka Customs /ICT Divison , 2017 )
5) The potential countries which have trade-related legislations have a direct impact on
Dream Cloud 's internationalization.
2.0 Research conducted for Dream Cloud Ltd. focused on Hofstede's Five
Cultural Dimensions.
The report author has selected two countries from the South-East cluster; Malaysia and
Philippines to examine Hofstede's Five Cultural Dimensions. It's as stated below.

2.1 Hofstede's Five Cultural Dimensions - Malaysia

Business Culture Customer View

1.) Power Distance If Dream Cloud sets up its Malaysian nationals

business in Malaysia, it will maintain a high distance of
have to give prominence to a financial power.
centralized, hierarchical
organizational culture.
(Hofstede Insights, 2020 )
2.) Individualism Vs. Malaysian people usually tend Collective societies
Collectivism to work in teams and have a primarily focus on their
sense of togetherness. immediate family members
(Vasudevan, 2018) and extended family
members rather than
themselves.
3.) Masculinity Vs. Malaysia has a male An individual is acclaimed
Femininity dominated society; thus, the to be a winner in society
value structure of the company only if they have task-
should be based on oriented behavioral
rational characteristics. patterns.
(Khalaf, et al., 2013)
4.) Uncertainty Malaysian nationals are The assumption in the
Avoidance deemed to be risk-avoiders. community is that the
Risk is undertaken only if its future cannot be predicted
mandatory, innovation is not and that what is meant to
yet considered to be a threat. be will happen and it
(Ndubisi, et al., 2012) could never be controlled.
 5.) Short-term Vs. Malaysia 's business culture Citizens have great respect
Long -term has a short-term orientation. It for the traditional
is doubtful that they will plan Malaysian culture and are
for the future because of the more likely to achieve
standard pattern of thinking. instant success.
(Keria, 2018 )
.
Table 2.1: 1

2.2 Hofstede's Five Cultural Dimensions - Philippines

Business Culture Customer View

1.) Power Distance Employees tend to function The distance of high-power

in a centralized system. is determined by financial
(Hofstede Insights, 2020) power.
2.) Individualism Vs. Collective culture can be A deep attachment towards
Collectivism found in the Philippines, immediate family and
where the relationship extended family members is
between employer and often shown.
employee is more of a close
personal bond. (Cultural
Atlas, 2020)
3.) Masculinity Vs. Masculinity is used in the Because males seem to be
Femininity business context. The the only bread winners of a
Philippines task-oriented family, they are compelled
nature demonstrates that to struggle for survival.
competitiveness at work and
disputes are resolved by
battling them out. (Hofstede,
1984)
4.) Uncertainty The company mentality Changes triggered by risk
Avoidance exhibits a low degree of are normally well
uncertainty avoidance. A understood in the
 flexible mindset can be community.
seen, which means that
employees are risk-taking
people. (Rodriguez &
Hechanova, 2014)
5.) Short-term Vs. Long The Philippines gives Society has a fairly weak
-term priority to short-term ideology of future planning.
orientation over long-term
orientation. It's because of
the conservative pattern of
living. (Molz, et al., 2010)

Table 2.2: 1

2.3 Hofstede's Five Cultural Dimensions - Country Comparison

Malaysia Philippines
Power distance is high. Power distance is relatively low.

Collectivism is relatively low. Collectivism is relatively high.

Masculinity is relatively low. Masculinity is relatively high.

Uncertainty avoidance is comparatively Uncertainty avoidance is comparatively

low. high.

Short-term orientation is high. Short-term orientation is low.

Table 2.3: 1

Figure 2.3: 1
(Hofstede Insights, 2020)
3.0 Country Evaluation and Selection for Dream Cloud Ltd.

The geographic strategy which could be used is scanning. As the primary aim of Dream
Cloud Ltd. in internationalization is to export mattresses, scanning broad variables would be
sufficient.
The scanning process takes place between two alternatives located in the South-East region.
The countries selected by the writer are; Malaysia and Philippine.
.
3.1 Country Evaluation and Selection – Malaysia
Opportunity determines that could influence the country
selection decision as Malaysia would be;
1.) Market Size
Socioeconomic data – The rate of population growth in Malaysia is 1.30%. It has a direct
effect on the opportunity determine. Population statistics indicate the 78. 4% of the
country's population live in urban areas. (Worldometer, 2020) Malaysia's last estimated
GDP per capita in 2019 was amounted to USD 12,478.20. (Trading Economics, 2020)
These are optimistic country indicators.
2.) Ease and Compatibility of Operations
 Similar market conditions in home and host country - The pattern of
consumer behavior in Malaysia is very similar to Sri Lanka. Even Malaysian
consumers have been westernized, and customers are conscious of price and
quality. Under this circumstance it will be much easier for Dream Cloud to
run business in Malaysia. (Export Enterprises - Import-Export Solutions,
2020 )
Refer appendix (a)
3.) Costs and Resource Availability
 Infrastructure facilities - Malaysia is the country with the highest level of
development of infrastructure among the newly advanced Asian counties.
Malaysian infrastructure service includes; highway networks, productive
seaports, international airports, industrial parks and high-tech
telecommunications. (Malaysian Investment Development Authority (MIDA)
, 2020)
Refer appendix (b)
 4.) Red Tape and Corruption – Transparency International ranked Malaysia in 51st
position in the 2019 Corruption Perception Index (CPI), with a score of 53. The
country is placed at a moderate level marking the country in the safe zone.
( Transparency International , 2019)

The risk assessment variables which could influence the country selection decision as
Malaysia would be;
1.) Risk and Uncertainty – Malaysian government debt rating according to credit risk
agency scores are;
Moody 's rating = A3
Fitch ratings = A-
S & P’s = A-
In general, the borrowing cost of the country impacts credit worthiness. Although
Dream Cloud Ltd. has the option of investing in Malaysian on a moderate credit risk
scale. (Trading Economics, 2020 )

2.) Competitive Risk - Dream Cloud will be challenged by the existing mattress
manufactures. The best way to approach these giant companies is through the
Clustering Strategy. The dominant key players of the Malaysian mattress market
are; SweetDream Industrial Company Sdn. Bhd., Goodnight International Sdn.,
FACB Industries Incorporated and Lee Swee Kiat Group Bhd. (PR Newswire
Association LLC, 2019) the mattress industry rivals operate from urban towns like;
Kuala Lumpur, Georgetown and Johor Bahru. (Ken Research: Industry Research
Reports, 2018)

3.) Monitory Risk

 Exchange Rate Stability - Malaysia's central bank governs the country's
monitory policy in a way that derives financial stability. The current value of
the exchange rate stands at USD 4.28 Malaysian Ringgit. (Bank Negara
Malaysia, 2020)
Refer appendix (c)
 This symbolizes that the Malaysian government has taken preventive measures for
unforeseen monitoring risks.
4.) Political Risk – After the general elections in 2018, the interconnected Malaysian
political and economic sectors started to bloom back. It was a great kick-start to
improve the economic status of the country. Malaysia's latest political
manifestation waves a hopeful signal, enticing business establishment to Dream
Cloud Ltd. (Credendo Credit Insurance Group, 2020)

For the given case, the appropriate country comparison tool is Country Attractiveness -
Company Strength Matrix which plots the exact market position in the viable country.

Malaysia Primary
Market
Country Attractiveness

Secondary
Market

Tertiary
Market

Company’s Business Strength

Figure 3.1: 1
Primary Market – The mattress market in Malaysia is a favorable and rising market. The
political and economic risks of the country are low which enables market penetration for
Dream Cloud Ltd.
Country Resource Allocation – Dream Cloud Ltd has a Geographic Concentration against
foreign trade. The company is mainly aiming to gain a strong business presence in the
neighbouring clusters and subsequently move forward.

Contributing factors for the selection of Geographic Concentration Strategy;

Factor Prefer Concentration If:
1.) Market growth rate High
2.) Competitive lead time Short
3.) Constraints Low
The opportunities associated with this business idea outweigh the amount of possible risks.
The publications that have been provided support this argument.

3.2 Country Evaluation and Selection – Philippines

The geographic strategy that could be used is scanning. Since the intention of Dream Cloud
Ltd is to launch exportation of mattresses, broad variables could be screened to ascertain the
geographic location.
The measures of opportunities that could influence the selection decision as Philippines
would be;
1.) Market Size
 Socioeconomic data
The rate of GDP growth in the Philippines is stagnating, if a decade is considered there is no
improvement that could be seen in the GDP rate. Besides that, a constant adjustment to
inflation is required. Economic stability wise the country's condition is doubtful.
(Worldometers, 2017)
2.) Ease and Compatibility of Operations
Refer appendix (d)
3.) Cost and Resource Availability
 Cost of Labour
Due to the substantial increase in unemployment levels, cheap labor levels could be found in
the Philippines. This is a positive trend towards internationalization as the daily minimum
wage is 89 Philippine Peso (PHP). (Trading Economics, 2020)
Refer appendix (e)
4.) Red Tape and Corruption
 Transparency International ranked Philippine 113rd in the 2019 Corruption Perception
Index (CPI), with a score of 34. (Transparency International, 2019) . The performance
levels have declined compared with the past few years. The country is placed at a
high-risk level labeling the country in the danger zone. (Risk & Compliance Portal -
GAN INTEGRITY INC, 2017)
The risk assessment variables which could influence the country selection decision as
Philippine would be;

1.) Risk and Uncertainty – The Philippine government debt credit rating, issued by the
credit risk agencies are;
Fitch ratings = BBB Stable (2020)
S&P = BBB + Stable (2019)
The results generated from the credit risk reports have placed the country in a stable
position. The debt credit ratings of the Government are at a high pace.(Trading
Economics, 2020)
2.) Competitive Risk
The Philippine mattress market growth rate is increasable. There are just a few
domestic mattresses produces. (Philippine Bed Manufacturing Company, Uratex
Foam, Tempur Foam, Mandaue Foam) Favorable sales volumes could be expected in
the future. The reduced number of competitors indicates a low risk level for
new entrants, which is a beneficial predictor for Dream Cloud Ltd.(Ken Research
Private Limited, 2017)
 In view of the information produced, the appropriate country comparison tool for the
Philippines is the Country Attractiveness-Company Strength Matrix, which sets out the
exact position of the business in the viable country.

Primary
Market
Country Attractiveness

Secondary
Market

Philippine
Tertiary
Market

Company’s Business Strength

Figure 3.2: 1
Secondary Market - Although the political and economic risks are high in the Philippines,
the market could be altered due to the limited mattress suppliers. Dream Cloud Ltd. will have
to be more individualistic in terms of country nature.

Country Resource Allocation - Dream Cloud Ltd has a Geographic Concentration on

international trade.

The factors taken into account by Dream Cloud Ltd when selecting a strategy are as follows.;

Factor Prefer Concentration If:

1.) Market growth rate high
2.) Spill over effects low
3.) Constraints low

The total number of risks associated with this business idea of penetrating the Philippine
mattress market outweighs the opportunities. This statement is reassured by the cited
publications.
Henceforth, Dream Cloud Ltd 's final country selection decision is Malaysia, as it showcases
a perfect balance between opportunity and risk variables. The Philippine mattress market
indicates greater risk variables than opportunity variables.
Task 02 – International Strategy

1.0 Country Mode of Entry for Malaysia

The internationalization objective of Dream Cloud Ltd. is to increase sales revenues in
foreign destinations. The strategy that influences Dream Cloud's mode of entry is
International Experience.
Out of the types of foreign operating Equity Arrangement methods, selecting the method
would be suitable, as Dream Cloud's core idea is to export mattresses produced in the home
country.
Dream Cloud should begin its business in Malaysia through a Joint Venture. The reason why
the author has chosen this method is because Malaysia has a high-country attractiveness and
at the same time, Malaysia has a large number of giant competitors therefore, the competitive
strength of Dream cloud Ltd. in Malaysia will be lower than the existing mattress markets
rivals.
Dream Cloud will be able to take advantage from the positive effects lined up below by
applying Joint Venture as an entry strategy.
1.) Dream Cloud Ltd. will be in a position to create synergy with the Malaysian
company. The unique characteristics of both companies could be shared in such a
manner that they could collaborate together to gain competitive advantage.
2.) The losses and rewards generated by this partnership could be shared by each
company.
3.) There are no additional laws pertaining to joint ventures that Dream Cloud will have
to observe when partnering with the Malaysian company.
4.) When Dream Cloud enters into a joint venture, they will have great opportunities to
promote their brand name in Malaysia.
5.) Dream Cloud could explore the country's diversification and distribution networks
without utilizing capital investment.
6.)
In order to commence internationalization, the author proposes that Dream Cloud should
select a retail store in Malaysia. KK Super Mart Group of Companies is a renowned
business entity in Malaysia that Dream Cloud could choose as a joint venture. KK Home
Deco is a co-company of this business chain, which Dream Cloud could use to export its
mattresses (KK Group, 2020)

2.0 International Strategy formation for Dream Cloud Ltd.

2.1 International Sourcing of Supply

Supply chain management will be a primary focus of Dream Cloud. Supply chain
management process primary functions such as; shipping, warehousing, inventory
management, and production planning need to be handled efficiently. Dream Cloud may
pursue the assistance of an enterprise management software system to satisfy this
requirement. Yonyou Software Co. Ltd. is a leading tech solutions provider in Asia-Pacific
region. Yonyou could design a digitalized enterprise system according to the specifications of
Dream Cloud. A precise and advanced supply chain would improve the Dream Cloud 's
performance. (Yonyou Sdn. Bhd., 2020)

2.2 Production and Marketing Considerations

The production approach could be applied to Dream Cloud is, Centralized Operating
Model. The entire manufacturing cycle of mattresses in the Hub and spoke model is
confined to Sri Lanka due to the difficulties in separating the final products from the resource
site. By applying this strategy into business operations, Dream Cloud's production line will
become productive. (Ernst & Young Global Limited, 2014) Refer appendix (I)

2.3 International Marketing Mix Adjustment

There are few indicators that need to be kept in mind by Dream Cloud Ltd when designing a
global marketing campaign. The first is that Dream Cloud should be well versed about the
Malaysian market. The second step is to change the elements of the marketing mix
accordingly. This should be tailor-made according to the Malaysian consumer audience.
Dream Cloud should spot the right business channel by closely reviewing the behavioral
trends in the consumer market.
Refer appendix (II)

2.4 International HRM practices

Dream Cloud has a responsibility to take care of the human capital needs of Malaysia. As
Dream Cloud Ltd. only operated domestically it has never dealt with IHRM requirements and
now it is important that the proper IHRM standards are learned by the company employees.
Refer appendix (III)

2.5 Accounting and financial issues to address

International accounting has a wide scope, it could be segmented into many other sub -
sectors. Errors that are associated with these international accounting principles are;
 A diligent protocol should be established to mitigate theft of financial data.
 Familiarize with financial integration processes.
 Compensate for alternative currencies transacted in financial trade. ((ACCA) , 2011)
Conclusion
Thus, this report in a nutshell is a comprehensive evaluation of how a local business
organization can consider the purpose and significance of internationalization before
initiating international trade. The writer has covered the specified areas of the academic
report in relation to the hypothetical business scenario of Dream Cloud Ltd.’s mattress
manufacturing.
The report chapter line-up highlights the main areas that need to be concentrated on by
Dream Cloud Ltd. Then with the final country decision taken in the third chapter the author
continued the report with the rest of the internationalization theories.
Finally, the author has suggested acceptable international strategies for Dream Cloud Ltd.
The purpose of the report was to convey, the essence of the correct sequence of international
trade.
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44)
Appendices

1.) Appendix (I)

The marketing strategy plays a crucial role when expanding the brand of Dream Cloud
to Malaysia. If global marketing is done the right way, Dream Cloud will benefit from
enhanced product efficiency, strong competitive advantage, increased consumer brand
awareness and cost reduction. To be a market leader Dream Cloud should embrace the well-
known Brand Culture Consistency Strategy. The Dream Cloud brand must support and
reflect the culture of the host country. This well blended mix could perform wonders in the
Malaysian mattress industry.(CLEVERISM Blog- Martin Luenendonk, 2019)

2.) Appendix (II)

 The newly released Dream Cloud product – latex rubber mattress for patients with
back pain could be sold among the elderly population. Such product is not available in
the existing mattress market. (IndexMundi, 2019)
 The price strategy should be in line with the level of Malaysian consumer income.
This is incredibly important because it has the power to impact other marketing mix
elements.
 The promotional strategy for capturing Malaysian market attention (advertising)
should be mainly via internet platforms, as the country's widespread communication
medium is Internet-based applications.

3.) Appendix (III)

 Cultural sensitivity-based recruitment and selection process.
 When hiring prioritized candidates with previous overseas experience.
 Establishing an expatriate selection panel would be a great initiative to secure
internationalization in Malaysia. (Kumar & Murthy, 2013)