Iceland Fish Industry


Governments develop and support economic systems that they believe will give their society a competitive advantage and worldwide recognition

as a viable global force. Every country’s social system is comprised of three components: cultural forces, economic forces, and political forces.

These dynamic forces are in constant motion and prove to be a challenge to firms entering foreign markets.

Today, a firm’s competitive environment is not confined to its national borders. Firms try to achieve greater market share and gain

competitive advantage by selling in global markets. In order to be successful, firms must fully understand the countries with which they do

business. To do this, firms develop strategy based on an analysis of the environment in the foreign country.

To help you understand this contemporary economic concept and apply it to global competitive advantage, you are required to submit a

research paper that examines the cultural, economic, and political forces in the fish industry in Iceland. After examining these forces, you must

identify the challenges or opportunities that firms face when trying to do business in these countries and make recommendations to firms entering

these markets.

The term paper must be 8-10 pages not including cover sheet or references. Your paper must include a title page, a running head, a header,

a summary, and a list of at least 3 references. Page one is your cover page. Page 2 and possibly 3 is your summary. (You need a paragraph for

each research area.) The summary should stand alone so that it could be removed from the rest of the paper and it would remain intact.

Use the format presented in the Publication Manual of the American Psychological Association (APA).

The final typewritten paper should include a running head, headers, and headings as indicated in the outline.

You must reference credible magazines and newspapers. The Wall Street Journal, the Economist, and the U.S. News & World Report are highly

recommended references. Make sure that your references are diverse. This will keep you from a skewed perspective of what is happening. You may

not use Wikipedia, encyclopedias, or blogs. Your best bet is to use periodicals and journals.

Possible references:
1. USTR’s National Trade Estimate for 2012 –
2. Country Commercial Guide –
3. State Department –
4. CIA World Fact Book –
5. Kiss, Bow, or Shake Hands – This book is on reserve at the library
6. Gale Group – (this is available at the CSM library. When you get there click

proceed and the click on the “Gale Group Reference Library.” Click on Nation and the World. Click on Countries and Their Cultures. In the search

bar to your right, type in your country’s name and find the publication that discuses your country’s culture only. Everything else is too old to

7. –

II. INTRODUCTION – Discuss the use of the Social Process Triangle as your model
A. Population
B. Growth rate
C. Literacy
D. Education
1. Skill level
E. Social structure
F. Family roles
G. Basis for value system
H. Customs
I. What does this mean for firms in your industry wanting to do business in this country?
B. Marketing – Sales, Promotion, Advertising, etc.
C. Distribution systems
1. Physical infrastructure
2. Telecommunication systems
D. Financial services
1. Currency stability & Exchange Rate Mechanisms
2. Interest rates
3. Inflation
E. Capital resources
1. Production capabilities
2. Technology
F. Property ownership
G. Workforce
H. What does this mean for firms in your industry wanting to do business in this country?
A. Balance of payments
1. Balance of trade
a) Export
b) Import
2. Current Account
3. Reserve Account
B. Political stability
1. Expropriation
2. War/Terrorism
C. Trade regulations & standards
1. Tariffs
2. Non-tariff trade barriers
D. Laws regarding trade/commerce
1. Intellectual Property Protection
2. Antitrust
3. Transparency
4. Dispute settlement
5. Investment climate
E. Government procurement
F. Corruption
G. Foreign exchange controls
H. What does this mean for firms in your industry wanting to do business in this country?
VI. OPPORTUNITIES/THREATS – For U.S firms in your industry doing business with or in this country