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British University in Egypt

Coursework Submission and Statement of Academic Honesty Form


All assessed coursework must be submitted on or before the due date.

Students are required to complete 2 copies of the Coursework Submission and Statement of
Academic Honesty Form. 1 copy must be kept by the student as evidence of submission and compliance
with University Regulations. Students must also keep a copy of their coursework assessment. 1 copy of
the form should be submitted and kept by the Module Leader/Department .

Students should complete Section A, B and C. Section D should be completed by the Department. The
Assessment Brief will specify the mode of submission. This will be either (a) via eLearning, (b) a hard
copy via agreed Departmental/Faculty procedures, or (c) via Turnitin.

SECTION A: YOUR DETAILS


To be completed by the student

Family name: Mohamed Mamoun Rasslan

Given name: Rana Student ID: 207298

Module code: 23BBST31H

Module title: Management of international Companies


Tutor: Prof. Hadia Fakhreldin – Dr. Marwa
Group: 16
Anis
SECTION B: ASSESSMENT DETAILS
To be completed by the student

Assessment title: VitaFizz

Due date: 16/12/2023 Number of pages: Word count (if appropriate):


SECTION C: STATEMENT OF ACADEMIC HONESTY
To be completed by the student

By submitting this work for assessment you are confirming that you have read and understood the University’s policy on
plagiarism and collusion and that the attached work is your own.

For full details of the University’s policy see: http://www.bue.edu.eg/pdfs/Examination%20&%20Assessment%20Regs%202010-11.pdf

(i) I confirm that this is my own work and that use of material from other sources, including the Internet, has
been properly and fully acknowledged and referenced.
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copied part or all of somebody else’s work, either with their explicit approval or without their knowledge or
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honesty, including plagiarism, and that I fully understand the meaning of these terms.
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(vi) I confirm that the information I have given is correct to the best of my knowledge.
Student’s signature: Date:
If this form is submitted electronically please type your name

SECTION D: CONFIRMATION OF SUBMISSION


To be completed by BUE staff member

Received date: Received by (please print name):

The British University in Egypt


Faculty of Business Administration, Economics and Political Science

Individual Member Contributions Form

Project Title
………………………………………………VitaFizz…………………………………………………………………

We confirm that the work submitted under this title is our own work and that we contributed to the project
as indicated below.

Name/ID of Contributor Description of contribution (in words)

1. Rana Adel 21441. Task 1: Articulate the international business


strategy, as well as the extent to which the
international company's organisational chart
reflects and supports its strategy, purposes, and
objectives.

2 Rana Rasslan 2072989 Task 2: Develop the company's corporate


governance and make recommendations on
methods to improve it, as well as the company's

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corporate social responsibilities and ethics

3. Haya Mourad 209342 Task 3: Develop the human resource strategy+ The
designs of VitaFizz

4. Selvia Ishak 218386 Task 4: Set the company's global marketing


strategy and determine the methods used to
achieve it.

*kindly note that formatting, numbering and/or referencing are not considered individual work.
The weight of the group work is 60% while the weight of the individual work is 40%.
Signatures of group members.

1 …………………Rana Rasslan…………………………………………………… Date


……………………………
2 ……………Rana Adel …………………………………………………………… Date
……………………………
3 ………………Haya Mourad………………………………………………………… Date
……………………………
4 ………………………Selvia Ishak ………………………………………………… Date
……………………………
5 ………………………………………………………………………… Date
……………………………
6 ………………………………………………………………………… Date
……………………………

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Coursework Feedback Form
The member of staff responsible for the coursework assessment must complete all sections below and
return a completed copy to the student normally within 15 working days of the deadline for
submission, or of the actual date of submission, whichever is the later.

SECTION A: STUDENT’S DETAILS


To be completed by the tutor

Family name:

Given name: Student ID:

Module code:

Module title:

Group: Tutor:

SECTION B: ASSESSMENT DETAILS


To be completed by the tutor

Assessment title:

Signature: Date: *Provisional grade:


*This grade is subject to review by the Subject Advisor and External Examiner and may be reduced or increased before
final approval by the Programme Examination Board.

SECTION C: FEEDBACK
To be completed by the tutor

Specific aspects of your work that were effective:

Specific aspects of your work that need more work:

3
Specific advice on how to improve your work:

Group 16

4
Module Leaders: Prof. Hadia Fakhreldin & Dr Marwa Anis

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Executive Summary:

This Paper aims to provide specific details about VitaFizz an Egyptian


company that was operated in 2023 by providing full details about the
company by articulating the company strategy, organizational Chart,
purposes and objectives

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TABLE OF CONTENT

Executive Summery

Overview of the company product/activities

Task 1:
Articulate the international business strategy------------------------------------------------

Task 2:
Develop the company's corporate governance----------------------------------------------------

Task 3:
Develop the human resource strategy-----------------------------------------------

Task 4:
Set the company's global marketing strategy-------------------------------------------------------

Recommendations

Conclusion

References

Provide an overview of the company and its products/activities.

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Vitafizz is a sparkling drink company with distinctive flavors that is owned by

an Egyptian label company. Vitafrizz is participating in the burgeoning soda industry,

which is predicted to develop at an

extremely favorable rate of growth.

Vitafrizz satisfies customers' need for

carbonated beverages by creating tasty,

reviving, and—above all—healthy

products. Their four main health benefits

are that they are minimal in calories, fully

organically flavored, fortified with

multivitamins, and pleasantly sweetened with

honey bee extract. Vitafrizz products is a vitamin-

infused sparkling drink that is packed

with vitamins (B1-B2-B3-B5-B6-B12-B7-B9),

making it more than simply flavored sparkling

water. Vita Frizz beverages are touted for their

wonderful sparkling flavor and refreshing feel,

but they also claim to increase immunity and

reduce stress and weariness. The vitamin effervescent drink is exclusively available

from Vitafrizz, and it comes in six distinct flavors. Vitafizz wants to revolutionize the

soda market so that customers may take control of their health and indulgence. The

company is manufacturing and operates in Egypt, and it is going to internationalize in

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Bulgaria due to the opportunity the company has to expand their represents in having

the financial capabilities, human resources asset, and the need in Bulgaria for healthy

products, as it is one of the highest health-conscious countries (united nations, 2020)

1.International business strategy

Organizations spread out across several nations and regions as they grow. One

crucial step that companies all over the world take to expand globally is the

development of an international business strategy. International strategies assist

businesses in increasing profit in various regions by adjusting to the operational needs

of each one. Various countries adhere to distinct regulations and guidelines (Usmani,

2022).

These international business strategies take into account both global integration and

local responsiveness. Smartling defines local responsiveness as a company's ability to

meet the needs of a particular market. It involves more than just translating the website

or mobile application into another language; it involves the complete consumer

experience, including payment procedures, product selections, and specifications.

Conversely, global integration describes the standardization that businesses attain as

they grow. Companies that place a high priority on global integration exhibit minimal

variations across different nations.

This international business strategy that is adopted by Vitafizz to internationalize is

the Global strategy. In order to maximize global efficiency, an organization that

practices global strategy (Vitafizz) views the world as a single market with minimal local

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variation and acts as a single source of supply. Products that employ this tactic are

more likely to be standardized than customized for regional markets (Schiffbauer, n.d.).

A company that employs a global strategy (Vitafizz) forfeits its ability to adapt to the

specific needs of each of its markets by prioritizing cost reduction and increased

productivity. A global strategy emphasizes the need to obtain low costs and economies

of scale by providing essentially the same goods or services in each market, though

some small adjustments to goods and services may be made in different markets. This

entails a single brand, a single line of goods, and a single message from a single

corporate office (Kennedy, 2020).

Furthermore, as stated by Smartling, Vitafizz has an instantly recognizable global brand

and a step-by-step path towards global market penetration by pursuing the Global

strategy (the most global integration strategy). Selecting this strategy to follow enables

the company to leverage economies of scale through effective operations and

processes, as well as to simplify product development with a single product line and

little market-specific modifications.

When implementing the global business strategy, Vitafizz objectives are to save costs

through economies of scale, streamlined operations, and standardized production

processes. Additionally, the company wants to expand its presence in multiple

international markets, create and sustain a consistent brand image and messaging,

develop and implement standardized procedures and processes for global operations,

and maintain high standards consistently across all locations. Finally, Vitafizz wants to

make sure that its products and services comply with international standards and

regulations.

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Organizational structure

The arrangement of roles, duties, job functions, accountability, and decision-making

authority within an organization is determined by its organizational structure. In order to

establish accountability, define expectations, assign decision-making authority, and

foster efficiency, it is imperative that the organizational structure of the company is in

line with its goals and objectives.

The given organizational chart is distinguished by distinct lines of authority, effective

task completion, and specialization within functional domains. This is exemplified by the

fact that the CEO/President is the top executive in charge of the organization's overall

success and direction. The CEO is followed by the Global Operations Director, who

supervises and coordinates global operations to guarantee regional uniformity; the

Global Marketing Director, who creates and carries out global marketing strategies that

are standardized; the Global Supply Chain Manager, who standardizes parts, supplies,

and transportation to maximize the global supply chain; the Product/Service Managers

who prioritize standardization and oversee particular product or service lines; the

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Regional Managers, who establish uniform procedures at the regional level and

collaborate with product/service managers; the Global HR Manager, who creates and

executes standardized HR policies and practices; the Finance Controller, who oversees

international financial strategies and resources; and the Quality Assurance Manager,

who keeps an eye on and upholds uniform quality standards worldwide.

The hierarchical structure and distinct reporting lines of this organizational chart

highlight how crucial centralized coordination is to the success of globally

standardization. It permits specialization within functional domains while preserving a

global strategy for supply chain management, marketing, and operations. Vitafizz's

success depends on these roles working together and being in sync.

The functional/role-based organizational structure is used by Vitafizz. The vertical,

hierarchical structure of this organization features centralized leadership and is

characterized by clearly established roles, job duties, chains of command, and decision-

making authority. Accountability, scalability, and specialization are made easier with a

functional structure. It also has a clearly defined chain of command and sets forward

expectations (Organ, 2023). From the advantages of having a functional/role-based

organizational structure is that it offers distinct management hierarchies and reporting

channels. It is easier to supervise and hold managers accountable when workers know

who to report to and who they are accountable to. Moreover, organizations can develop

a high degree of expertise in particular areas by classifying employees according to

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their functions. Setting specialization as a top priority enables each team member to

become an authority in their field, improving the calibre and productivity of their work. A

functional structure also allows departments to function independently, which can result

in more efficient and well-coordinated work within each function (AIHR, Academy to

Innovate HR, n.d.). Vitafizz, which implements the global business strategy, is a good fit

for this structure because it permits specialization in each functional area while

maintaining a uniform and standardized approach throughout the entire organization.

2) Develop the company's corporate governance and make recommendations on


methods to improve it, as well as the company's corporate social responsibilities
and ethics.

The implementation of a productive corporate governance is critical to the success and

sustainability of any company. The term "corporation governance" refers to the "internal means

through which organizations are managed and regulated,which include an array of connections

among a company's management, its board of directors, its shareholders, and other

stakeholders.” (OECD, 2015). According to Shleifer and Vishny, "corporate governance

addresses the methods by which sources of financing to corporations ensure shareholders of a

return on their investments" (Shleifer & Vishny, 1997). Vitafizz will create a durable

governance system based on the concepts and pillars of transparency, accountability,

and fair treatment of stakeholders, as well as ethical decision-making processes. In its

ambition to internationalize, Vitafizz recognises the need to adhere to ethical principles,

ensuring that its growth makes a beneficial contribution to its present Egyptian and

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Bulgarian markets, as well as prospective new nations into which Vitafizz aims to

develop into.

Vitafizz, the international beverage business, will undertake corporate

governance determinants such as forming an independent board of directors with varied

backgrounds and expertise. This would assure effective supervision and decision-

making while limiting the possibility of conflicts of interest.This varied group would bring

a well-rounded viewpoint to the table and guaranteeing that decisions are taken in the

best interests of the firm and its stakeholders, eliminating any potential disputes of

interest across board members. Furthermore, the corporation might improve

transparency and accountability by disclosing financial performance and important

indicators to shareholders regularly, as well as communicating with stakeholders

through methods such as biannual shareholder conferences and relations with

investors. As well, the company's ethical policies might be strengthened by creating a

code of conduct that describes anticipated behavior for employees and executives. This

would assist in fostering an integrity culture and guarantee that all corporate operations

are carried out ethically and responsibly. By creating vitafizz code of conduct, the

corporation would offer its employees with clear norms and expectations, ensuring that

they recognize the necessity of ethical behavior. Conflicts of interest, bribery, corruption,

data privacy, and environmental sustainability will all be addressed under this code of

conduct. The organization would be taking a proactive approach toward fostering a

culture of honesty and accountability by explicitly articulating these standards. This

would aid in ensuring that all employees understand the significance of ethical behavior

and are held responsible for their activities. by upholding strict corporate governance

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guidelines and making sure that stakeholders are treated fairly, openly, and responsibly.

The organization encourages its staff to make ethical decisions that support

sustainability and are consistent with the company's values by clearly defining

expectations for their behavior. (Almashhadani & Almashhadani, 2022). By doing so,

Vitafizz builds a solid reputation and stimulates a work environment where people are

proud of what they do and feel accountable for maintaining the company's ethical

business practices

Further, the business may in the future create a recommended procedure—like

an anonymous hotline—to motivate staff members to report any unethical actions or

issues without worrying about facing consequences. In addition, it's critical to undertake

frequent training sessions to teach staff members about the code of conduct and instill

the importance of acting morally. To accommodate a variety of learning preferences and

methods, these programmes may incorporate interactive workshops, online courses,

and case studies from the real world. By funding these training programmes, the

organisation would provide staff members with the information they need, as well as the

ability to make moral choices under pressure. As a result, the company will be prepared

to handle any possible concerns as soon as they arise, preserving its reputation as a

respectable and trusted organization.

Vitafizz will also incorporate its corporate social responsibilities internationally within

each country it operates and serves in. Given that ischemic heart disease, stroke, and

hypertensive heart disease were the top three causes of death in Bulgaria in 2019 (European

Commission, 2021). Vitafizz will contribute investment in ischemic heart disease research as

well as its treatment.

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In addition, Vitafizz may work with nearby nonprofits to offer educational materials and

scholarships to young people from disadvantaged backgrounds through donating to

“Step for Bulgaria Foundation”. In Egypt, Vitafizz will focus on funding educational

projects through investing in educational projects through “Educate Me”, Vitafizz aims to

empower young students and improve their future opportunities. As well as investing in

Baheya Hospital to cure women with breast cancer in Egypt. With suchCSR efforts of

vitafizz in both countries, this will contribute to achieving the United Nations' Sustainable

Development Goals (SDGs). As vitafizz promotes good health and well-being (SDG 3)

and quality education (SDG 4) (United Nations, 2023).

Ultimately, Vitafizz's actions in Egypt and the Bulgaria are consistent with their mission of

positively impacting society and the environment. vitafizz hopes to create a meaningful and

lasting influence on the well-being of individuals and communities by extending its corporate

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social responsibility to both nations. vitafizz recognises that implementing ethical practices will

not only earn the confidence and loyalty of its stakeholders, but will also attract new investors

who respect responsible corporate behavior. Vitafizz seeks to develop a sustainable and

socially responsible company model that not only maximizes earnings but also improves the

communities and surroundings in which they operate by concentrating on these concepts.

3-Develop the human resource strategy.


In this case, our company will be under the international Human resource management

as the company are expanding’s operation as the management of human resources in a

multinational or worldwide company is referred to as international human resource

management (IHRM). As there will be distribution centers across Sofia-Bulgaria. It

entails the development, coordination, and execution of human resources policies and

procedures in order to efficiently manage a varied and geographically distributed

workforce (Sdcmzn, 2021). To develop HR strategy in our company, there must be

consulting with legal experts and HR professionals with Bulgarian employment

regulations to cope with the strategy of VitaFizz and Bulgaria, in addition, there are

factors of the complexity of IHRM to contribute with. To illustrate more, there are 6

factors, but the report will only discuss the new HR response such as international

taxation, international relocation & orientation, Host governance relations,

Services for expatriates and language translation services (Luthans,2020).

1. The international taxation: As VitaFizz must collaborate with tax experts to

ensure compliance with Bulgarian tax laws. provide guidance to employees on

tax implications, including any tax equalization or protection programs.

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The second thing, VitaFizz must provide a comprehensive employee education

tax education to employees, especially expatriates, to help them understand their

tax obligations in the Bulgaria as after conducting our distribution centers in

Bulgaria, Egyptian employees (PCNs) and Bulgarian employees (HCNs) will be

employed in our company.

Tax Systems & Social Security

Bulgaria, like every other country, has a tax system. To illustrate, Bulgaria has a

progressive personal income tax (PIT) system for individual, with rates ranging from

10% to 29% on taxable income and a variety of tax allowances and deductions

available, contributions to social security which is when employers and workers are both

obligated to contribute to social security. These payments pay for a variety of social

security services, including healthcare, pensions, and unemployment insurance. As

after researches it shown that the total rate of social security contributions is 24.7% to

25.4%, with the employer paying 14.12% to 14.82% and the employee paying 10.58%.

The total rate of health insurance contributions is 8%, with the employer paying 4.8%

and the employee paying 3.2%. The overall national insurance contribution rate (social

security and health insurance) is 32.7% to 33.4%, with the employer paying 18.92% to

19.62% and the employee paying 13.78% The aforementioned rates apply to Bulgarian

nationals as well as EU/EEA nationals who are subject to Bulgarian social security

contributions. Non-EU/EEA nationals are also subject to these contributions, with the

exception of health insurance contributions, under specified conditions. If they hold a

Bulgarian permanent residency visa, they will also be required to pay health insurance

premiums (PWC, 2023).

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2. International Relocation and Orientation: Create complete relocation packages

for Egyptian personnel relocating to Bulgaria. Provide cultural orientation and

support services to assist employees in adjusting to their new surroundings. For

example, by providing to the Egyptian employee’s transportation services,

housing and settling in the new location. In addition, helping them understand

business culture and social norms in Bulgaria to avoid culture shock for the

Egyptian employees.

3. Services for Expatriates: Provide services such as support with work permits, visa

applications, and other expatriate-related services as suppose employment,

children education and healthcare services for the Egyptian employees that are

moving to Bulgaria with their families to help employees relocate to Bulgaria have

a smooth transition.

4. Host Governance Relations: To manage regulatory restrictions and build a

favorable business climate in Bulgaria, cultivate positive connections with local

officials.

5. Language Translation Services: Provide language assistance to personnel in

Egypt and Bulgaria to promote successful communication. As providing language

translation services to support efficient communication between Egyptian and

Bulgarian. Moreover, to minimize misunderstandings, ensure that critical papers,

policies, and employee handbook are appropriately translated into 3 languages

English, Arabic and Bulgarian.

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All of these designs were designed by me

Wages, working hours & overtime

In addition, In Bulgaria, the minimum wage is 780-840 BGN as (400-471 USD) (Full-

Time Job) and the maximum is 14,700 BGN as (8,244 USD) (Full-Time Job) and it is

based on the job positioning of the individual and job description (CMS, 2023), They

work 40 hours per week (5 day working and 2 days off), 8 hours per day excluding 30

minutes break (CMS, 2023)

Since we are global strategy and we are ethnocentric approach, so as a HR responsible

for VitaFizz HR department, more Egyptian employees will be hired (PCNs) and few

Bulgarian employees (HCNs) will be hired as well. To illustrate more, here are some

common positions found in distribution centre:

In Egypt:

 Export Manager (PCN): In charge of monitoring Egypt's export activities,

collaborating with other ministries, and assuring compliance with international

trade rules.

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 Logistics Coordinator (PCN): Oversees the transportation and logistics of

sparkling drinks from the Egyptian production site to the Bulgarian distribution

center.

 Quality Control Inspector (HCN): Ensures that the sparkling drinks fulfill

international export quality requirements.

 Export documents Specialist (PCN): Oversees the creation of all required export

documents, such as invoices, packing lists, and certificates of origin.

In Bulgaria:

 Distribution Center Manager (HCN): Oversees the operations of the Bulgarian

distribution center, including inventory management, order fulfillment, and

logistics.

 Warehouse Supervisor (HCN): Oversees the warehouse's day-to-day operations,

including receiving, storing, and transporting effervescent drinks.

 Customs Clearance Coordinator (HCN): Works with local customs officials to

ensure that products entering Bulgaria are cleared smoothly.

 Transportation Coordinator (HCN): Oversees the delivery of sparkling beverages

from the distribution center to various merchants and clients in Bulgaria.

 Sales Representative (HCN): Promotes and sells effervescent beverages to

Bulgarian shops, supermarkets, and other distributors.

 Client Service Representative (HCN): Deals with client queries, orders, and any

difficulties with effervescent drinks in the Bulgarian market.

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Task 4: The company's global marketing strategy and determine the
methods used to achieve it.
Vitafizz, a company that specialises in a

nutritious carbonated drink enhanced with

eight different forms of vitamin B, this task

presents a sustainable marketing plan that

will help the company expand

internationally. All elements of the

marketing mix—product, pricing, place,

and promotion—will be infused with

sustainability concepts throughout the

approach. Adopting these tactics will also

help Vitafizz successfully target international markets and attract more ecologically

sensitive customers. With a constant commitment to sustainability

4.1-Product
The product is called Vitafizz; it is written in English to be understood by all customers

from any country. It consists of two syllables; the first one is vita; it comes from the word

vitamins, because the product contains the eight types of vitamin B, which are thiamine

(B1), riboflavin (B2), niacin (B3), pantothenic acid (B5), pyridoxine (B6), biotin (B7), folic

acid (B9), and cyanocobalamin (B12). So there is a circle on the can with litter B inside

it, which refers to the eight B vitamins. And the second syllable is fizz, referring to the

fact that this product is under the fizzy drinks category. Therefore, the name is easy for

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consumers to remember and recall when they need to make a purchasing decision. It is

also catchy and, at the same time, meaningful.

This is a new, healthier sparkling beverage with four main features: 100% natural

flavours; enhanced with several vitamins; fewer calories; and honey bee extract.The

products cater to the growing need for healthier sparkling beverages that will maintain a

healthier lifestyle, increase vitality, and strengthen immunity.The product has six

flavours, which are Apple, Blueberry, Pinacolada, Pineapple, Pomegranate, Lemon, and

Mint, in 100 recyclable cans. Each can has different colours according to its flavour, so

it is easy for the consumer to know the flavour without reading it on the can, as shown in

this photo. With the slogan Bubbling with energy on it to attract the health-conscious

consumer, the jingles that will be used in the ads are the sound of the soda bubbling

after the sound of opening the can.

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4.2-Place
For the short-term plan, the company is manufacturing and producing in Egypt and

exporting its products to Bulgaria using the global strategy to expand or internationalize

in the Bulgarian cities because Bulgaria is one of the world's leading health-conscious

countries (united nations, 2020) with a good tax system and suitable exporting and

importing rules (Bulgaria Country Report, 2023). Therefore, it is a market with a large

target audience that is in need of and willing to buy healthy products to replace the

ordinary fizzy drinks that harm the health of consumers. The distribution in Bulgaria will

be through the distribution centre that will be located in the capital city of Bulgaria, which

is Sofia, and the products will be distributed from this centre to the wholesalers and then

to the retailers in the capital and the rest of the Bulgarian countries.

And for future plans, the company will expand more in Bulgaria, not just exporting in

Bulgaria, but building a full supply chain system there and exporting from Bulgaria to the

area around it.

4.3-Price
The pricing strategy that is used in Egypt will be different from that used in Bulgaria, as

in Egypt a competition-passed strategy will be used; in other words, the price of the can

will be determined to be the same as the price of the other competitors. Since this

industry is new and the competition is limited, the company will use the same price,

which is 13 EGP, of the only competitor in the Egyptian market, which is v7.

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For Bulgaria, a penetration strategy will be used at first to attract customers to the new

product; therefore, the can will be sold at 1 BGL; this price will only cover the costs of

the product, and after three months, a competition strategy will be used, in other words,

selling the product at the same price as the competitors

4.4-Promotion
The company will be sponsors of some health events that take place in Bulgaria, such

as the International Conference on Public Health, Malnutrition, and Financial

Implications (ICPHMFI), which is conducted in Sofia, Bulgaria, on September 6 each

year, and in Zagora, Bulgaria, as well as the International Conference on Population

Health and Public Health Informatics (ICPHPHI) (Health Conferences in Bulgaria

2023). The company will also use billboards and commercial TV ads to target health-

conscious consumers. They will also make product endorsements by making ads that

show celebrities talking about the product and how it has a good taste and high

benefits.

The integration of these four components will enable the company to expand and

internationalise in the Bulgarian country successfully.

Recommendation
A possible recommendation for future corporate governance in the Vitafizz firm may be to

undertake the following suggestion:

 Conduct a frequent internal and external audit to ensure accountability and openness and

comply with ethical standards, laws, and regulations.

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 Another recommendation is to create a business culture of open communication and

feedback that encourages workers at all levels to express their ideas and concerns,

resulting in better decision-making and solving issues.

 Finally, implementing frequent performance assessments for senior executives may

assure accountability while identifying opportunities for leadership growth.

 Implement the transnational business strategy in future

 undertake frequent internal and external audits to ensure accountability and

openness and comply with ethical standards

 Another recommendation is to create a business culture of open communication

and feedback that encourages workers at all levels to express their ideas and

concerns, resulting in better decision-making and solving issues

 To add customized tastes for Bulgaria

 To manufacture in Bulgaria for future plan

Conclusion:
In conclusion, Vitafizz, an international beverage company, recognises the necessity of

developing a productive corporate governance framework based on openness, accountability, and

fair treatment of stakeholders. Vitafizz wants to have a positive influence on society and attract

new investors who respect responsible business behaviour by adhering to ethical standards and

embracing corporate social responsibility. A good corporate governance framework, according to

Vitafizz, not only secures the company's long-term success but also develops trust and

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confidence among its stakeholders. Vitafizz's goal is to establish a solid reputation and keep a

devoted consumer base. Furthermore, by incorporating social and environmental obligations into

its business operations, Vitafizz aspires to contribute to sustainable development and build a

brighter future. It employs the global business strategy in a strategic manner, prioritising

standardization. The company's objectives are to reduce expenses, increase its market share

internationally, uphold a consistent brand image, and introduce standardised procedures. The

organisational chart of the company displays a functional structure that guarantees effective

coordination and designated roles. through introducing a sustainable marketing plan to expand

internationally. The company will incorporate sustainability concepts in product, pricing, place,

and promotion. Vitafizz will manufacture and produce in Egypt and export to Bulgaria, targeting

health-conscious consumers. The pricing strategy will be a competition-passed in Egypt and a

penetration strategy in Bulgaria.

References
Commission staff working document - economy and finance. 2023 Country Report - Bulgaria.
(2023).
https://economy-finance.ec.europa.eu/system/files/2023-05/BG_SWD_2023_602_en.pdf

united nations . (2020). Voluntary National Review Sustainable Development Goals.


https://sustainabledevelopment.un.org/content/documents/26289VNR_2020_Bulgaria_Rep
ort.pdf

European commission. (2021). State of Health in the EU Bulgaria - public health. State
of Health in the EU. https://health.ec.europa.eu/system/files/2021-
12/2021_chp_nl_english.pdf

Luthans,F., Doh, J. (2020) International Management: Culture, Strategy & Behaviour. 11th

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