Solved: SOE11144- Global Business Economics and Finance Project 1
A. Project backgroundStory of Scotch Extract taken from the Scotch Whisky Association web page. Scotch Whisky must, by law, be distilled and matured in Scotland in oak casks for at least three years and bottled at a minimum alcoholic strength of 40% abv. The robust legal protection of Scotch – vital to safeguard a spirit globally renowned for its quality – has grown over time. `The first definition of Scotch in UK law was secured by 1933, with a dedicated Scotch Whisky Act in 1988 and new Scotch Whisky Regulations in 2009. The story of Scotch begins as early as the 15th century. The earliest documented record of distilling in Scotland occurred in 1494 in the tax records of the day, the Exchequer Rolls. In 19th century whisky was brought to the British empire and far beyond, creating an enduring love of Scotch from Hong Kong to Hanoi, Sydney to San Francisco, Montreal to Mumbai, Bogota to Berlin, Cape Town to the Cape Verde islands. The export markets they built are the foundation stone of Scotch whisky’s success today. A spot of luck also helped global expansion. In the 1880s, the phylloxera beetle devastated French vineyards, and within a few years, wine and brandy had virtually disappeared from cellars everywhere. By the time the French industry recovered, Scotch Whisky had replaced brandy as the preferred spirit of choice. Five centuries after it all started, 1994 the Scotch Whisky industry celebrated the 500th anniversary of whisky production in Scotland – and did it in style! For the first time, global exports of Scotch Whisky broke through the £2 billion mark. Today Scotch Whisky is enjoyed in 175 countries throughout the world. Each second, 42 bottles of Scotch are shipped from Scotland across the globe, helping to support tens of thousands of jobs in Scotland and ensuring that millions of consumers can enjoy a dram.
- Current situation
C. Project specificationsPrepare consulting report on the Scotch Whisky industry. The aim of the report should be identification of possible profit areas for independent firm originating from your country to engage in the industry. The report among other should include the following issues:
- Identify and describe the Scotch whisky industry current microeconomic and macroeconomic situation. In particular:
- Identify the product and microeconomic and macroeconomic character of the market in which industry operates (400).
- Identify the main market segments the industry operates. This should be supported by statistical data (300).
- Identify main competitors on the market together with their relative strength supporting this with statistical data (300).
- Critically analyse the demand factors behind different segments of the market (400).
- Analyse the past and potential future demand trends on different markets using the information you collected in point b and c (400).
- Identify and describe the Scotch whisky industry current international political and macroeconomic environment and its potential influence on the industry (400).
- Indicate areas where profit can be made and draft a sketch of strategy to achieve it for a form originating from your country (400).
D. Project 1 Submission Guidelines
|Length||2,500 words, +/- 10% (excluding tables, graphs, footnotes and references)|
|Presentation||Arial 12 fonts, 1 ½ spacing, justified text|
|References||A minimum of 20 references using APA referencing style (textbooks, official data and information sources)|
|Submission deadline||Please submit your Project 1 by Sunday, 25 October 2020 23:59 using Turnitin. Provisional results will be released in the grades section with comments in the Turnitin by 16 November 2020 at the latest.|