IKEA SWOT, Porters 5 and PESTEL Analysis

IKEA SWOT, Porters 5 and PESTEL Analysis Hop to: SWOT, Porters 5Â Forces, PESTEL Presentation IKEA has made its own image name in the realm of outfitting at a moderate cost. IKEA endeavors to improve a life for some by offering wide assortment of very much structured, useful home outfitting things at moderate costs. History IKEA was found in 1943 by Ingvar Kamprad in little town Agunnaryd , Sweden. Initially organization sold the essential family unit merchandise at rebate costs later kamprad begin to sell the home outfitting and multi year later IKEA opened its first showroom, obviously exhibits the capacity and nature of its low-value items. In 1955 IKEA present its own Designing furnishings and in 1956 level packs and self-get together were dispatch (which diminished creation and transport costs) and in later year IKEA has opened 301 stores all over Europe and Asia which shows the accomplishment of organization. Present In 2002, IKEA Group was universes top furniture retailers. The absolute number of stores 301 worked by IKEA in 37 nations/regions. The IKEA Group itself possesses 267 stores in 25 nations with 123,000 associates and creating yearly deals of more than 21.5 billion euro (these realities are taken from IKEA site). There are wide scope of items in IKEA stores from plants and front room decorations to toys and entire kitchens. At IKEA their vision is to make a superior regular day to day existence for the numerous individuals what make IKEA as universes top furniture retailers, inimitable methodologies of IKEA draw in the client whether its reasonable value, compact furnishings or the one of a kind plan coming up, Swedish cafã © in the stores, kid care office in the stores SWOT Analysis of IKEA Qualities Probably the most grounded quality of IKEA is their solid image name: IKEA is generally known brand in Europe and some Asian nations. In 2002 IKEA was the universes most acclaimed furniture retailer. [â [1]â ] Exceptional selling purpose of IKEA is low costs and level pack furniture which is practical for client and simple to move Selective furniture configuration grab the eye of the client Modest Prices of IKEA furniture offers an incentive to Customer Restrictive furniture configuration grab the eye of the client As distributed in Business Times Ikea list is the third most printed book on the planet after Bible and Harry Potter [2] Furniture are anything but difficult to gather and simple to send IKEA has Strong capability of Global sourcing Ground-breaking publicizing effort IKEA has constructed its own image name and reliably endeavors to keep up itâ In mid-1990s IKEA had propelled a prominent publicizing effort in USA proposing to bring issues to light of the IKEA brand UK wide publicizing effort in September 2007 named Home is the Most Important Place in the World utilizing domain specialist signs with the term Not available to be purchased composed on them as a feature of the more extensive crusade Wallets for Oyster cards and cylinder map are supported by IKEA IKEA deliberately runs promoting effort to make brand mindfulness. IKEA keep up Long-term Relationship with providers IKEA has safeguarded long haul relationship with its providers. IKEA buys items in high volume from providers which permits IKEA to keep their item costs low It has around 45 exchanging administration workplaces in 31 nations. This empowers them to grow cozy associations with in excess of 1,350 providers in 50 nations Item improvement IKEA is effectively taking activities in condition transforms, they firmly thinks about woods and bolster the providers to limit the absolute effect on the atmospheres by contributing in woodland ventures. Shortcoming Provider conditions One of the fundamental shortcoming of the IKEA is that it is reliant on the provider for its assembling their items By absolutely conditions on providers IKEA convert its solidarity to IKEA doesn't make anything itself and is vigorously subject to the provider. By restricting the assembling offices implies more conditions on the providers. Ikea furnishings need to gather yourself might be its is ugly to specific gatherings of buyers Store configuration can be mistaking for those client who need specific thing Swedish plan may not all that speaking to different areas of world Significant Reliability on European Markets 90% of IKEA stores are situated in European areas and rest in America, Middle East and Asia , Ikea is constraining themselves to go into the Rivalry can take advantage of IKEAs non presences in the other quickly developing retails markets like America, Middle East and Asia by growing their organizations. Quality and norms Its hard to keep up high Caliber and measures all inclusive because of the size and size of items Individuals by and large partner the low costs with terrible nature of items and non toughness Ikea furnishings not fabricate for lifetime Openings Extension in immaculate retails showcase IKEA should degree their business or stores from worldwide to worldwide market , by creating in different locales like Asia and Eastern Europe By extending in quickly developing retails markets IKEA can catch extra partake in Asia and Eastern Europe Just 10% rates of stores were in immature markets. Its a magnificent open door for IKEA to extend and develop their organizations in the immaculate markets Advancement in Ecommerce IKEA ought to extend their web present in business sectors Quickly developing virtual markets in the Internet unrest period gives an astounding chance to IKEA to amplify their place in the online business everywhere throughout the world like ebay , Amazon.com, Inc IKEA can grow their business by coordinated effort of nearby organizations and providers. By creating E-trade site and neighborhood organization coalitions offers a chance to accomplish development in existing business and can increase new procurement In extra it will assist with expanding client assistance fulfillment and client criticism Likewise it can lessen the work pressure from store to certain level Plan different sort of Store It will be acceptable open doors for IKEA to attempt new cost of store to effortlessly locate the specific items which will build the development deals and consumer loyalty Limiting waste (IKEA and the new EU enactment on synthetic concoctions) IKEA keeps away from utilization of synthetic substances and materials that can be of any mischief to individuals and the earth. All IKEA items for all business sectors, wherever on the planet will stick to the concoction limitations in the REACH enactment. Productive utilization of materials IKEA endeavors to utilize least assets to make the most ideal items, without having any negative impact on the usefulness or the plan or the vibe of the items. The fundamental material utilized in the assembling of the items is wood, cotton, metal, plastic, glass and rattan and we move in the direction of utilizing whatever number sustainable and recyclable materials as could be allowed. Dangers Effect of European economy As IKEA is prevalently present in European area, any antagonistic impacts in this district will affect the matter of IKEA. Significant deals and buying are done is European markets. So as to maintain a strategic distance from such circumstance, it needs to make sure about spot in other retail market and increment familiarity with the IKEA brand and items around the world Rivalry Backhanded danger of rivalry One of the quickest developing serious retail showcase in Europe and different organizations districts of IKEA Hard to save great quality and plan at modest costs when rivalry is expanding quickly developing for example In USA Wal-Mart , space to go , kmart ,In Japan Nitori Co and MUJI Indeed, even normal retailers are creating ease esteems level pressed furnishings, which can put gigantic effect on the IKEA. Focal points of rivalry Rivalry is forcefully offer comparative item A large portion of retailers promising to serve on high caliber of and administration Instructing client on nature of woods, development procedures, etc Rivalries are without offering conveyance of collected furnishings though IKEA isn't giving any choices to client on the transportation Synopsis of IKEA SWOT ANALYSIS SWOT investigation portrays IKEAs qualities and shortcoming, just as experiencing the dangers with circumstances which will make sure about IKEAs place in the retail advertise Quality of IKEA bunch in the realm of retail showcases is their Vision IKEA endeavors to improve a life for some by offering wide assortment of all around planned, functional home outfitting things at moderate costs which show their unmistakable business idea.[3] IKEA purchase monstrous from the providers and addition favorable position of minimal effort item which is one of most grounded quality of IKEA , as they can deal the completed merchandise in less expensive than contenders IKEA is acceptable long haul business relationship with the providers and shortcoming is the complete conditions on the provider which can be the danger in their future business. Business Strategy of IKEA gives the Excellent chances to extend their administrations to the world broadly and however by restricting their extension just to the European and chose Asian nations can be greatest dangers and can be preferred position to the contenders due to the non-presences of IKEA Watchmen 5 powers examination of IKEA Rivalry from Substitutes: HIGH The furniture retails showcase is on creating stage. Rivalry from Substitute it is high in the advanced time individuals consider better items in the event that it is exorbitant. The exchanging costs are high and Substitute will be different brands provider at significant expenses. Different alternatives may be modest furniture from neighborhood provider. However, IKEA can upper hand from low costs, exceptional structure and level pack furniture Bartering intensity of purchasers: LOW IKEA centers around huge fragments and target singular clients youngsters matured around 20 to 40 years as in the cutting edge world individuals favors conservative and foldable furnishings so it is simple use and transport. IKEA items are reasonable for everybody on account of the low costs. There is high client unwaveringness in this manner low bargai

Free sample - Music. translation missing

Music. MusicOutline I. Presentation The term Haram infers â€Å"an act which is prohibited.† II. What are a portion of the reasons that a few Muslims believe music to be Haram? There are various reasons which clarify why a few Muslims believe music to be Haram.  Presentation The term Haram infers â€Å"an act which is prohibited.† This is as per the Islamic religion. The supporters of this religion (the Muslims) think about the demonstration of tuning in to any sort of music for example, Soul, Religious, or even Rhythm and Blue to be an offense. Additionally, as per them, Islamic religion restricts whichever type of singing, and use of melodic gadget(s) during this procedure. These demonstrations as indicated by this religion are sufficient explanations behind nauseating our hearts. They are additionally answerable for disappearing it (the heart) (Miller and Shahriari 10). What are a portion of the reasons that a few Muslims believe music to be Haram? There are various reasons which clarify why a few Muslims believe music to be Haram. One, in the heavenly book of Islam (the Koran), it is composed that â€Å"any individual who gets/purchases repetitive talks with the sole-motivation behind giving individual human being(s) an inappropriate impression in regards to what God has directed by means of disparagement will seriously be punished.† Scores of Islamic investigations academicians over the globe have deciphered the articulation ‘redundant or inert talk’. To them, this articulation infers ‘chanting/singing’ (Hamditabligh). Two, in one event, Prophet Mohammed said that â€Å"some Muslims regarded various cultural indecencies to be legitimate.† These incorporate infidelity, and utilization of mixed refreshments. Others are wearing of silk formal attire and utilization of melodic devices during venerate. He further expressed that few supporters of the religion will remain out at the lower regions of the ton/mountain from sun up to sun down hanging tight for the appearance of the marshals/shepherds. They will be constrained to do this in order to represent various inquiries. Be that as it may, the marshals will illuminate them to return to their separate spots of homes, and come back to the lower regions the next day. Mohammed noticed that â€Å"God will totally obliterate these adherents for the duration of the night. Besides, he (Allah or God) will utilize his superpowers to allow the ton to plummet on them in this way obliterating them totally (Hamditabligh). Mohammed moreover noticed that Allah will perform wonders and change those adherents who won't have been demolished into certain wild and residential creatures. These incorporate monkeys and pigs. The changed people will remain in this structure till renaissance. Numerous Muslim heads and Islamic examinations masters have deciphered these comments. They have proposed that Mohammed believed utilization of melodic devices to be ill-conceived, and hence no Muslim should endeavor to do as such. One of the pros is Ibn Al-Qayyim. He created a book which is known as ‘Ighathat Al-Lahfan.’ In this book, he contends that â€Å"Mohammed restricted these indecencies, yet humankind didn’t regard to this disallowance, and keeps on seeing them (the indecencies) as legitimate† (Hamditabligh). Three, during his lifetime, Prophet Mohammed was solicited by one from his supporter â€Å"why he had expressed that those people who venerated, and offered penances to God including the individuals who accept that he (Mohammed) is Gods’ messenger, and the individuals who follow the various Islamic lessons and laws will be changed into animals.† The Prophet (Mohammed) addressed him that this â€Å"is inferable from their usage of melodic contraptions during worship.† Four, it is written in the blessed book of Islam that God reproached the love of ‘Kuffar’s’ at a spot called ‘Kaa’bah’. This suggests Allah, reproached/censured those Muslims who venerated him at this spot since they rehearsed ‘Muka'an’. Besides, they rehearsed ‘Tasdiyah’. As per notable Islamic examinations researchers, the term ‘Muka'an’ infers shrilling or whistling. The term ‘Tasdiyah’ then again infers commending/applauding during singing. Five, it has very much been reported by notable Islamic religion specialists that the demonstration of tuning in to any sort of music is a huge supporter of the fortification of the Devilish traditions, and along these lines, meets all requirements to be Haram. Additionally, they have contended that there is no single event wherein the Messenger of God (Mohammed) in the course of his life along with his partners amassed in order to sing. In such manner, the academicians infer that â€Å"no Muslim ought to participate in any type of singing.† Six, a few Muslims contend that this demonstration (of tuning in to music) over the radio and more has a higher probability of making the slants/feelings of the audience to end up being less passionate once the person in question hears Islamic lessons. Scores of the adherents of this religion additionally contend that melodic contraptions/instruments have a place with the devil.â Due to this explanation, any individual who focuses on them (the instruments) will from there on boogie/move without a doubt. This individual will on a petition meeting supplicate quickly. The person in question will what's more ask while sitting instead of stooping (Scott 23). Seven, Islamic religion requires each Muslim to declaim/recount the sacred book during venerate. Be that as it may, as per notable academicians, any individual who tunes in to music will experience the ill effects of various mental issue which won't permit the person in question to declaim it in the right way. This individual won't extravagant giving unique consideration to the sacred book. The person can't comprehend realities written in it (the Koran) during recitation. Furthermore, the researchers have contended that the music audience can't have any sense of taste/flavor for it. Subsequently, this individual shan’t have worship for the Koran. Therefore, the person in question won't determine satisfaction while considering it (the sacred book). Eight, as indicated by certain Muslims, it is elegantly composed in the book of Ayah (Chapter forty three (43), and section thirty six) that â€Å"any Muslim who submits sin will be made the Devils’ companion by God.† Owing to the way that most Muslims believe music to be Haram, at that point any individual who tunes in to it will be made the Devils’ friend (Hamditabligh). Nine, a few Imams have contended that the demon uses various strategies in order to trap those Muslims whose confidence in Allah (God) is amazingly low. Among them (the strategies) are applauding during singing, and whistling.â These people as a rule neglect to follow Islamic lessons to the later inferable from two fundamental traits. One of them is the absence of discernment. The subsequent one is insufficient reality. Because of these traits, the majority of these people use melodic contraptions. Likewise, they tune in to music which is viewed as Haram. As per them, such people take part in wicked acts. In addition, they will not conform to laws that have been set out by our maker (Allah). These Imams have emphasized that the demonstration of tuning in to music is like participating in untrustworthy sexual practices. These incorporate interbreeding, lesbianism, and homosexuality. Others are betrayal and brutishness. Ten, a few Imams have expressed that Music is like Allah’s foe (the demon). Additionally, they respect music to be a patron of harsh connection between an individual who tunes in to it, and our maker (Allah). They have quarreled/contended that Allah’s foe has made those people whose faithfulness to Allah is low to begin to look all starry eyed at reciting or singing. He has additionally outfitted them with deceiving realities because of which they (music audience members) wind up using them as verification for the delight inferred during singing. To them, all music audience members will with time begin following Allah’s adversary lessons. Because of this, they will stop perusing the Koran to focus on these lessons (Devil’s lessons). They have quarreled that those individuals who have arrived at this stage regularly rest in a cool spot or inside the house, switch on the radio or the TV, and grant their spirits to focus on music. As a result, the villain as music will make their spirits to be amazingly energized. Moreover, he will make them to boogie/move like a whore, or a male gay. Eleven, some of them have proposed that the demonstration of tuning in to music makes the audience to show up as though the person in question has expended a mixed drink. This makes the listener’s soul to be part into garbage. Additionally, it makes that person to create an arrangement of jokes with respect to the Islamic religion. Music is additionally accepted to be agreeable to them when contrasted with the Islamic lessons. Muslims accept that in the event that an individual tunes in to these lessons instead of music, at that point the person will not be rebuffed by Allah. Twelve, Islamic religion believes music to be Allah’s foe blessed book. Most Imams over the globe have continually emphasized that each one of those people who give exceptional consideration to music do distribute the beneficial things offered to them by God to his enemy.â It is like a dealer who purchases an item at a specific cost, and sells it at a misfortune. Consequently, it is unnecessary for an individual to tune in to music or sing since the person is probably going to experience colossal misfortunes. In any case, an individual will infer the best pleasure when the person in question recounts the Koran (Miller and Shahriari 24). Thirteen, there is a Muslim Sheik who was mentioned to say something with respect to music. His name is Abdulaziz Bin Baz. The Muslim minister contended that he just tunes in to music to get satisfaction from it. Undoubtedly, Abdulaziz explained that artists should just utilize Tambourine during singing. He focused on that this instrument ought to explicitly be played by female grown-ups. F

New Bill Could Expand Texas Payday Loans and Other High Interest Products - OppLoans

New Bill Could Expand Texas Payday Loans and Other High Interest Products - OppLoans New Bill Could Expand Texas Payday Loans and Other High Interest ProductsInside Subprime: April 23, 2019By Lindsey FrankelNew legislation threatens to rollback protections that designate sale-leaseback industry transactions as loans in Texas, which would open the door to exorbitantly high interest rates that trap consumers in debt. House Bill 3929, filed by San Antonio Democrat Rep. Roland Gutierrez, would undercut the city of San Antonio’s regulation of predatory lenders, since the same rules that apply to payday loans would not apply to sale-leaseback transactions if they are not considered loans. It would also allow sale/leaseback providers to charge triple-digit interest rates to service members despite the protections of the Military Lending Act. Sale-leaseback transactions are similar to pawn shop loans. They involve the “sale” of an item by a consumer, who then leases the item back at a high cost. For example, someone in need of financial help may “sell” a television for $200 to get the cash and then lease it back for $60 every two weeks. With any luck, that consumer could buy back the TV for $260 after two weeks. But while these are advertised as short-term transactions, that’s not always how they work out. When borrowers don’t have the funds to buy back their items right away, they become trapped in debt and end up making repeated lease payments. These predatory transactions first gained the attention of lawmakers in 2000. The annualized interest rates for these transactions would reach the equivalent of 790 percent. At the time, a report from the Senate Committee on Economic Development pointed out that “One industry which has embraced the subterfuge of renaming the loan transaction in order to avoid regulatory oversight by the Office of Consumer Credit Commissioner is the sale/leaseback industry.”H.B. 3929 would reverse the 2001 decision to designate sale-leaseback transactions as loans and require sale-leaseback lenders to operate under state laws governing short-term loans. Gutierrez claims the bill would expand credit options for consumers while aligning the Texas statute with the Uniform Commercial Code and other states’ laws. While an attorney representing the payday loan industry supported the bill, consumer advocates and faith groups spoke out against the legislation during a recent hearing. Gutierrez amended the bill to state that sale-leaseback transactions will be designated as loans under the law, with the exception of transactions that follow the Military Lending Act and Consumer Leasing Act “to the extent applicable.” But Express News reports that “What that language really means is these transactions don’t have to comply with these laws and therefore are not loans. It’s a particularly insidious carveout.”Learn more about payday loans, scams, and cash advances, and check out our city and state financial guides, including  Texas,  Arlington Payday Loans,  Austin Payday Loans,  Dallas Payday Loans,  El Paso,  Fort Worth,  Houston,  Irving,  Killeen,  McAllen,  Plano,  Round Rock,  San Antonio,  Tyler,  Waco  and more.Visit  OppLoans  on  YouTube  |  Facebook  |  Twitter  |  LinkedIn

The Obligation of the European Union to Open Their...

Should the EU open its borders to Syrian (and other) refugees This Essay will show that it is the moral and ethical duty and obligation of the European Union and its member states to open its borders to Syrian refugees. A. Situation in Syria based on UNHCR Report The situation in Syria is an unstable, violent one with the effect, that the women, children and the civilian population are facing huge problems avoiding violence. There are approximately 4.1 million registered refugees from Syria in the Middle East expected by the end of 2014 and approximately 9.3 million affected persons within Syria. Furthermore the situation is degraded so much, that even Polio came back as the biggest health threat to children in Syria. The Gender based violence is escalating due to the escalation in the fighting as well. Therefore one has to say, that the humanitarian protection and protection for the populace is non-existent. Moreover it appears that there is a need to increase the general protection of the civilian population and to ensure that all parties do not infringe the applicable international law in Syria since the UN Security Council asked this in a resolution. A. Do we have the duty to open our borders to Syrian refugees ? I. Kantian Deontologism Kant uses 3-5 â€Å"rules† depending on the Interpretation of his text to base his whole ethical structure on. The first rule is that you should act only on such a maxim, that your act should become universal law. The second rule

Has Marketing to Tweens gone to far Free Essay Example, 2750 words

Thus, ethics are pivotal to business operations because it governs the range of methods we ought to use and determines as well if we will operate in a sustainable way in the society in which our businesses are located. As mentioned, at the minimum, ethics will allow us to earn the goodwill whose needs we have committed to serve and the goodwill can also contribute to long-term revenues and profitability of our businesses. An ethical issue in marketing is marketing to various age groups. In particular, marketing to the age group between eight to thirteen years old can be ethically problematic. It can be argued that the young people in the age group are no longer children but, at the same time, they are not yet teenagers (Cousineau and Scurry, 33). The age group between eight to fourteen years old is known as â€Å"tweens† but the literature sometimes classify â€Å"tweens† as the age group between six years old and twelve years old (Cousineau and Scurry, 33). However, w e can argue that the proper age group for the tweens is between eight and thirteen years old because by the time that a young person is thirteen then he or she can be classified as a teenager and thirteen can be classified as the pre-teen. The tweens market is no pushover. We will write a custom essay sample on Has Marketing to Tweens gone to far or any topic specifically for you Only $17.96 $11.86/pageorder now In the US market alone, the tween market alone is about $40 billion compared to the $160 billion for the teen market (Raugust and EPM Editors, 1). Based on a study by Tiffany Meyers in 2005, treating teens and tweens to be belonging to the same age group can backfire because â€Å"it is difficult to push one coherent message† to the kids in the personality of the tweens (Cousineau and Scurry, 34). Tweens do not always relate to the activities of young people older than their age group (Cousineau and Scurry, 34). Based on study by Erin Clack, there can be attitudinal distinction between the younger grade schoolers and middle grade schoolers (Cousineau and Scurry, 34). Tweens play like younger kids (Cousineau and Scurry, 34). Based on a sample of 900 tweens, a recent study by the KidzEye division of the C&R Research revealed that 84 percent of tweens still use toys and dolls (Cousineau and Scurry, 34). Yet, tweens especially girls, like to loo k older and behave like teenagers (Cousineau and Scurry, 34). Friendships are important for tweens but mainly as a source of fun (Cousineau and Scurry, 34). At the same time, family relationships still dominate (Cousineau and Scurry, 34). In contrast, based on a study by book by David Siegel and others in 2004, peer group opinion is very important for teens and relationships with friends are as important as family relationships (Cousineau and Scurry, 34).

The Capacity Of Two Theories - 2525 Words

Critically evaluate the capacity of two theories to explain violent crimes. There are many theories throughout the history of criminology that have been formulated, developed, criticised and commended. These theories were established in an effort to illuminate the real motives behind the criminal actions of individuals and groups. In addition, they are intended at creating responsible reactions to effectively deal with past offenders. Furthermore, they also aim to decrease the rate of offences in the future. The capacity of Positivism and Strain Theory to explain crimes, particularly those of violent nature, has been of debate over many decades. Biological Positivism and the General Strain Theory are of key importance in regards to society’s endeavour to understand crime, however, it can be noted as each theory is discussed respectively that there are many implications and issues that arise from their foundational concepts. The strengths and weaknesses of these theories’ capacity to explain violent crime will be analysed and criticised usi ng evidence drawn from case studies, journal articles, official statistics, and media reports. Biological theories sought to determine a biological defect inside individuals that caused a predisposition towards criminal behaviour. For instance, the notion that antisocial and aggressive behaviour is influenced by genetics is strongly supported through research based on twin studies, adoption studies, twins reared apart and molecularShow MoreRelatedDescribe and Discuss One or More Explanations of Divided Attention997 Words   |  4 Pagesattention between two or more tasks. The focused attention models explain how all our inputs are focused on one task at any one time, however it is clear from looking at everyday life that we are able to divide our attention, successfully being able to complete more than one task at the same time. 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Issues in International Business

Question: Discuss about the Issues in International Business. Answer: Introduction History of the Company Walmart was opened in the year 1962, by Mr. Sam Walton (Walmart.com, 2016). It is a widely popular multinational retail chain outlet headquartered in the United States of America (Walmart.com, 2016). It has created a chain of discount department stores, hypermarkets, grocery stores and others (Walmart.com, 2016). There are 11,545 Walmart stores in 28 countries, as on date 30 June, 2016 (Walmart.com, 2016). The company has different names in the different countries. For example, it is known as Asda in UK, Walmart in USA, Best Price in India and Walmart de Mexico y Centroamerica in Mexico (Walmart.com, 2016). Background The company is hugely popular because it is the largest company by revenue in the world, as per the Fortune Global 500 list, published in the year 2016 (Fortune, 2016). It is also considered as the most valuable company in the world in terms of market value. The net income of the company was US$ 14.694 billion in the year 2015 (Walmart.com, 2016). The company is regarded as the largest employer in the world (in the private sector) (Walmart.com, 2016) . It has approximately 2.2 million employees all over the world (Walmart.com, 2016). It is a well known name in the Retail industry. There are three retail formats of Walmart in U.S.A known as Discount stores, Supercenters and Neighborhood markets (Walmart.com, 2016). The retail division in the U.S.A is the largest one. It contributes approximately 62.4% of the total sales of the company (Walmart.com, 2016). Products of the Company The company offers store brands, also known as generic brands. These are low cost alternatives to the branded products. The company offers generic brand products for the purpose of consumer purchase (King Chicken, 2015). The main products of the company are electronics, clothing, movies, footwear, toys, jewelry, craft supplies, fitness goods, grocery items and others. Entry to Country The city-state selected for launching Walmart stores is Singapore. It is a Sovereign Republic State which is a based on English Common Law (Gill, 2013). It possesses the best water, air and road transportation in the global market. The cultural diversity of Singapore makes it a preferable spot for the foreign firms. The Singaporean market is lucrative for the foreign investors and hence it is a lucrative country for business oppportunities. Target Market The primary policy of Walmart is to help customers to save their hard earned money by implementing best prices in the market (Niu Yu, 2016). The target market of the company includes the middle class, lower and lower income households. In general, the company attracts the modest income group. Opportunities in Target Market Singapore is a free market economy with a high per capita GDP (Rodan, 2016). The country occupied the first position in the ease of doing business, as per the World Bank survey (in the year 2012). It is also the best destination for foreign direct investment (Singstat.gov.sg 2016). Potential Market for the Product The city has a population of 5.68 million and is considered as the second densest sovereign state (Singstat.gov.sg 2016). The cultural diversity of the population presents lucrative opportunity for the launch of the Walmart stores. There are people from all income groups in Singapore, which makes it the best destination for the launch of the Walmart stores (Singstat.gov.sg 2016). Challenges There can be several challenges during the launch of the products of Walmart at Singapore. There can be several barriers when entering a new market. There may be stringent government regulations, high start up expenses, technology protected by patent, product differentiation, economies of scale, competitors, cultural differences, substitute products and others (Creusen Lejour, 2013). There are three major barriers for entry in the markets of Singapore namely Government regulations, Economies of Scale and the Competitors. The Singaporean Government may pose entry barriers by restrictive licensing requirements. It may also restrict the availability of the raw materials and delay in the issuance of necessary government approvals. The existence of the economies of scale can act as a barrier. The gains in the efficiency and the low production costs comprises of the economies of the scale. The existing companies in the Singaporean market are already producing better products which are well positioned in the target markets. The new company may not be able to deliver products that capture the target markets. This causes a resistance to the products as well as services of the new company. The new market has already a large number of competitors who are delivering similar products and services to the customers. The existing market players have already captured the target m arket by satisfying their preferences. Walmart needs to customize its products and fix an affordable price for the products. This is done for the purpose of competitive advantage in the new markets. Recommendations The challenges explained in the previous section needs to be overcome so that Walmart can capture the new market in a short span of time. The company needs to identify the strong areas of the market in which the Singaporean government is interested. The company should be well aware of the legal requirements of Singapore such as permissions, licenses, regulatory compliances and others. The company should focus more on the economies of scale by fostering innovation and launch low cost production methods or change in the pattern of sourcing. Special attention should be given on costs of raw materials, production, logistics, shipments, service, recruiting talented personnel and others. An extensive market research should be carried out for analyzing the strengths of the competitors and their offerings. The services and the products should be modified accordingly as per the demands of the customers. The company should aim to create competitive advantage for better visibility in the market . The company should analyze the capital requirements before venturing into the new market. The startup costs should be estimated and noted. This may include the cost of manufacturing plant, cost of raw materials, acquiring suitable locations, the recruitment of talented personnel, installation of technology, implementation of telecommunications and others. The company should know the sources of fund raising and should find investors long before the actual launch. There is also a need to determine the fixed costs and the variable costs. Walmart should focus on product differentiation strategies. The companies should produce unique products with special features, which are slightly different from the competitors products. The company can also use the technique of low pricing for better acceptance in the market. It should analyze the offerings of the competitors in relation to cost as well as functionality and design its products accordingly. The infrastructure requirements should be well managed by the company. It cannot function efficiently without a sound infrastructural setting. The acquiring of land, setting up of offices, implementation of digital connectivity and other utilities should be planned well by the company. Entry Modes There are several methods of entering a new market. These can be by licensing, franchising, joint ventures, distributorship and fully owned subsidiaries (Shishido, Fukuda Umetani, 2015). The recommended mode of entry to Singapore is by Joint Ventures. It can be defined as a phenomenon by which two or more investors share control and ownership with respect to its operation as well as property rights (Chung Beamish, 2012). This is a more extensive form of market entry in comparison to licensing or exporting. There are established market leaders in Singapore which deal with similar products. These companies are popular and well known by the local population. The tie up with such established local leaders would give immense visibility to the new firm. This is the reason of choosing joint venture as a method of market entry in new geographical locations (Chung Beamish, 2012). Time is an important factor in the penetration of new markets. The setting up of basic infrastructure and the c reation of brand image through promotion involves a considerable amount of effort, time and finances (Chung Beamish, 2012). In the case of a new firm in a foreign location, these can be a challenging task. This is the reason why joint venture should be opted for the purpose of gaining visibility and strong foothold in the foreign market (Killing, 2012). There are many advantages of joint ventures such as joint financial capability, source of supply, sharing of risks, sharing of ability and others. The financial investments are shared by multiple partners, which makes it convenient for the new entrant. There is easy supply of raw materials from the partnered organization, as they have already procured from the best suppliers. Walmart would enjoy access to new prospective markets, distribution networks and others. The sharing of potential risks with the partners also makes the company to deal efficiently with adverse situations (Beamish, 2013). The company would prosper without the n eed to borrow funds from third parties. The existing companies database can be used to effectively market the products of Walmart (Chung Beamish, 2012). This would make the company to establish their presence in the untapped markets of Singapore. References Beamish, P. (2013).Multinational Joint Ventures in Developing Countries (RLE International Business). Routledge. Chung, C. C., Beamish, P. W. (2012). Multi-party international joint ventures: Multiple post-formation change processes.Journal of World Business,47(4), 648-663. Creusen, H., Lejour, A. (2013). Market entry and economic diplomacy.Applied Economics Letters,20(5), 504-507. Fortune. (2016).Fortune. Retrieved 10 August 2016, from https://www.fortune.com Gill, C. (2013). Open Access to Legal Materials in Singapore. Killing, P. (2012).Strategies for joint venture success (RLE international business)(Vol. 22). Routledge. King, B., Chicken, K. F. (2015). Marketing Plan.Marketing,7, 2. Niu, X., Yu, X. (2016). Exploring Customers Search Behavior on a Large E-Commerce Website. Rodan, G. (2016).The political economy of Singapore's industrialization: national state and international capital. Springer. Shishido, Z., Fukuda, M., Umetani, M. (2015).Joint Venture Strategies: Design, Bargaining, and the Law. Edward Elgar Publishing. Walmart.com (2016). Retrieved 10 August 2016, from https://www.walmart.com Welcome to Statistics Singapore. Singstat.gov.sg (2016). Retrieved 10 August 2016, from https://www.singstat.gov.sg