ING Direct is a financial provider and needs to be prepared to understand the market in which they seek to expand. Taiwan and Egypt are countries in which they seek to expand.
Discuss the current population and people of Taiwan and Egypt:
Current population and growth rate
Density of population
Demographic data (life expectancy, fertility/mortality rates, adult literacy, age structure of population, proportion of urban population)
Important ethnic, linguistic or language groups
Number of households, average size of households, marriages/divorces per 1,000 population, cost of living/PPP
Health, education spending, primary, secondary, tertiary enrollment
Human Development Index value and rank
Identify any advantages or obstacles for ING's business operations these two countries.
The response addresses the queries posted in 1252 words with references.
//Global expansion is the most favorable strategy for all kinds of organizations to have further growth in the business. In this series, ING Direct is also aimed to do its expansion in two markets, namely; Taiwan and Egypt. For this purpose, the company wants to do the analysis of both these countries in relation to several factors for knowing the favorability of these markets for expansion purpose. In this regard, at the initial stage, the background of the company is discussed in brief. //
ING Direct: Company Background
ING Direct is associated with ING Group. It is a form of virtual bank which provides its services in several major countries including United States, United Kingdom and Australia. The company mainly provides financial services to the global customers. In these countries, the company provides online financial services as well as on phones and mails. The services of the company include mortgages, savings, mutual funds, certificates of deposits, etc. The services of the company are favorable for saving the money of the global customers. With its beneficial services, the company wants to expand in new foreign markets.
//With the background information of the company, it is analyzed that it can have favorable expansion into any new foreign market. For the expansion of the company, two markets are analyzed in the further discussion under same points. These two countries are Taiwan and Egypt. The analysis of these two countries is done under the further discussion.//
Country Analysis: Taiwan & Egypt
Current Population, Growth Rate & People: The current population of Taiwan is about 23,063,027. This population of the country is reducing every year. This is evident from the growth rate of the country. The current growth rate of Taiwan in the year 2009 is
0.23%, this was 0.30% in 2007, and more in previous years. The people of the country are highly literate as the literacy rate is more than ...
The expert identifies the advantages or obstacles for ING in Taiwan. The response addresses the queries posted in 1252 words with references.