Investigating International Business

In: Business and Management

Submitted By antonvermeer
Words 10545
Pages 43
UNIT 40

INVESTIGATING INTERNATIONAL BUSINESS

BTEC NATIONAL

INTRODUCTION.

The international nature of business is evident to anyone who, for example, buys an iPod from Apple or insurance from Aviva. Many brand names are recognised throughout the world as organisations increase demand for their products by expanding from a national to an international market. Initially, the nature of the international business environment will be considered by looking at the size and importance of international markets. Governments encourage businesses to trade internationally but protectionism is also common. International business is regulated not just by national governments but also by transnational trading arrangements promoted by trading blocs such as the European Union and global agencies such as the World Trade Organization (WTO).

Both large and small businesses trade internationally but doing business internationally is often more complex than doing business in the home market. Consideration will be given to the issues facing a domestic (UK) business when it expands its operations into the international sphere. However, some insights can be made by considering issues faced by overseas businesses as they have expanded their operations by moving into the UK market. Tesco has had very limited success in extending operations into France and Carrefour has had similar problems in establishing operations in the UK. However, they both have had more success in Malaysia and China respectively.

Working internationally requires businesses to look at strategies and techniques that promote international working. Functional business activities need to be developed and put into an international context. Activities such as production, sales, marketing, human resource management and purchasing will need to be adapted.

A range of support is available to businesses…...

Similar Documents

International Business

...1997) and their ability to collaborate with emerging technology firms (Rothaermel, 2001a, 2001b). For example, traditional pharmaceutical firms’ distribution channels and manufacturing capabilities give them the ability to partner with biotechnology firms and learn the new technology. However, much of the literature on incumbent’s adaptation to technological change primarily focuses on firm-level variables (e.g., alliances undertaken by a firm). While prior studies have explored relationships between prior competencies and research productivity (i.e., patents) (e.g., Henderson and Cockburn, 1994) and the influence of prior experience on product development (Marsh and Stock, 2006; Nerkar and Roberts, 2004), there is a dearth of studies investigating this relationship in the context of technological change (e.g., Sosa, 2009). This study seeks to fill the gap in the existing literature by examining pharmaceutical firms’ adaptation to biotechnology at a firm-therapeutic level (e.g., Merck-Oncology). The next section briefly reviews the organizational learning literature and comments on how organizational learning enables incumbent firms to develop new capabilities needed to adapt to technological change. Section 3 develops the hypotheses relating the incumbents’ prior experience and knowledge sourcing to incumbents’ adaptation success. Section 4 discusses the methodology and data, and subsequently the results. Empirical evidence from a sample of 1,932 alliances between incumbent......

Words: 9421 - Pages: 38

International Business

...Examination Paper: International Business Management IIBM Institute of Business Management Examination Paper International Business Management Section A: Objective Type (30 marks) • • • This section consists of multiple choice questions and short answer type questions. Answer all the questions. Part One carries 1 mark each and Part Two question carries 5 marks each. MM.100 Part One: Multiple choices: 1. What is the series consideration for strategy implementation? a. Strategic orientation b. Location c. Dimensions d. Both (a) & (b) 2. The major activity in global marketing is: a. Pricing policies b. Product lines c. Market assessment d. All of the above 3. The third ‘P’ in the international marketing mix is: a. Product b. Price c. Promotion d. Place 4. The European Economic Community was established in: a. 1958 b. 1975 c. 1967 d. 1957 5. Environment Protection Act: a. 1986 b. 1967 c. 1990 d. None of the above 6. People’s attitude toward time depend on: a. Language b. Relationship c. Culture 1 IIBM Institute of Business Management Examination Paper: International Business Management d. All of the above 7. Culture necessitates adaption of : a. Product b. Price c. Promotion d. Place 8. The legal term for brand is: a. Symbol b. Name c. Trade mark d. All of the above 9. FDI flows are often a reflection of rivalry among firms in: a. Global market b. Indian market c. International market d. None of the above 10. ISO certification is: a. Expensive process b. Elaborate process c.......

Words: 4960 - Pages: 20

Investigating Business Resources

...Investigating Business Resources Introduction: In this assignment I will talk about what can happen to a business if costs and budgets are unmonitored. A budget is a plan for a distinct period of time. It may include things like planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It expresses premeditated plans of business units, organizations, activities or events in measurable terms. Budget helps to assist the planning of actual procedures by making managers to reflect on how the conditions might change and what steps should be taken now and by inspiring managers to reflect on problems before they come up. It also helps co-ordinate the actions of the organization by convincing managers to inspect relations between their own operation and those of other departments. Other essentials of budget include: * To regulate their resources * To communicate plans to numerous responsibility centre managers. * To persuade managers in order for them to achieve budget goals. * To assess the performance of managers * To deliver visibility into the company's performance In summary, the purpose of budgeting is stools: 1. Tools offer a prediction of revenues and expenditures, that is, concept a model of how a business might accomplish monetarily if certain strategies, events and plans are carried out. 2. Tools enable the actual monetary process of the business to be measured against the forecast. ...

Words: 702 - Pages: 3

International Business

...Petro Danyliv Professor Kathy Bowen Principles of Management Due April 2, 2014 International Business Nowadays international business and globalization became very popular and gained much more importance for each and every business company. Based on the quality research and the detailed analysis, this paper would come with the conclusion to show the advantages of globalization and also how globalization and international business can be a big factor in developing world’s economy. Term of globalization can represent and mean a lot of different things, but mainly globalization/international business are known for their flows of trade, finances and factors of production across the border, and transportation with effective communications set up. Globalization is responsible to make our world a “global village”. Globalization can develop strong international bonds not just between specific groups of countries but across a wide global network in which factors of production and also finished goods can move freely. The era of globalization in which we are living now came to existence not only because of Internet, but also because of changes in the institutional environment. Today globalization is a very popular and acceptable term. Globalization is a continuous and constant debate that society should face. The nature of globalization is somewhat specific and therefore understanding the meaning of it is crucial, so any praise or critics of globalization is purely......

Words: 918 - Pages: 4

Investigating Different Business

...Investigating Different Business Sole Trader – Sole Trader is the most common and the simplest form of business organisation. It is usually owned by one person but there may be several employees. The sole trader is for responsible every aspect of the business for example; keeping the premises clean, doing accounts, and paying taxes on the profits. The sole trader can keep all the profits each year after paying the taxes. An advantage of being a sole trader is that you are fully in charge which means that they don’t have consult between anyone else. Another advantage is that the wage bill will usually be low, because there a few or no employees. A disadvantage of being a sole trader is that Sole traders often work long hours and find it difficult to take holidays, or time off if they are ill. Also another disadvantage is that developing the business is also limited by the amount of capital personally available. Partnership – Partnership is usually owned and run by two or more people. Both owners are equally and personally liable for the debts from the business. Most partnership is small such as local accountants, solicitors, doctors and vet. An example of a partnership is Fat Joes. Ltd – Ltd also known as Private Limited Company is a company that cannot sell shares to the general public. Each owner has a share of the business and therefore is known ‘shareholder’. If the company is successful, then the shareholders receive a financial reward. An example of an Ltd......

Words: 467 - Pages: 2

International Business

...Journal of Business Venturing 27 (2012) 266–290 Contents lists available at SciVerse ScienceDirect Journal of Business Venturing International entrepreneurship research in emerging economies: A critical review and research agenda Andreea N. Kiss a,⁎, Wade M. Danis b, 1, S. Tamer Cavusgil c, 2 a b c Global Economics and Management Department Faculty of Economics and Business University of Groningen, 800 Postbus, 9700 AV Groningen, The Netherlands Peter B. Gustavson School of Business, University of Victoria, P.O. BOX 1700 STN CSC, Victoria, BC Canada V8W 2Y2 J. Mack Robinson College of Business, Institute of International Business, Georgia State University, P.O. Box 3989, Atlanta, GA 30303-3989, USA a r t i c l e i n f o a b s t r a c t This article systematically reviews and critically examines international entrepreneurship research in emerging economies (IEEE research), and articulates its importance, timeliness and relevance in consideration of the growing influence of emerging markets in the global economy. A systematic analysis of eighty-eight journal articles published over the last two decades reveals that IEEE research is a vibrant and rapidly growing stream of the broader international entrepreneurship (IE) domain, and that it is methodologically and topically diverse. Our review also shows that IEEE research has a limited presence in premier journals, is highly skewed in its geographic coverage, and is somewhat fragmented. We therefore......

Words: 21137 - Pages: 85

International Business

...Kaydeon Burnett Professor Jim McCarty December 14, 2015 Final Paper “International Business is any commercial transaction that crosses the border of two or more nations.” This class of international business has truly been a great deal of help to me in pursuing my degree in Business Management. When I first enrolled in this class I was a bit skeptical about how I would learn such a potentially difficult subject without being in a classroom, however I truly learned a lot. With an international business it has various key learning concepts including entry to new markets, trade and foreign direct investments, politics, economics and environmental variables of culture. Each of these concepts carries a different definition as well as the same intent. Globalization by definition means a “trend toward greater economic, cultural, political, and technological independence among national institutions and economies.” (p 7) Within globalization it is very important that the particular company that plans to expand beyond the borders of their home office must understand that going global is not just looking at the global aspext and not taking the time to properly invest money, time, and strategy. For example when Apple began to go global they took the time that was necessary to properly strategize on how to get their product from beyond the four walls of the Apple brand. Globalization has good parts as well as bad parts. The good part about globalization is that the......

Words: 803 - Pages: 4

International Business

...Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work’s original creator or licensee. Organization The overarching logic of the book is intuitive—organized around answers to the what, where, why, and how of international business. WHAT? Section one introduces what is international business and who has an interest in it. Students will sift through the globalization debate and understanding the impact of ethics on global businesses. Additionally, students will explore the evolution of international trade from past to present, with a focus on how firms and professionals can better understand today’s complex global business arena by understanding the impact of political and legal factors. The section concludes with a chapter on understanding how cultures are defined and the impact on business interactions and practices with tangible tips for negotiating across cultures. WHERE? Section two develops student knowledge about key facets of the global business environment and the key elements of trade and cooperation between nations and global organizations. Today, with increasing numbers of companies of all sizes operating internationally, no business or country can remain an island. Rather, the interconnections between countries, businesses, and institutions are inextricable. Even how we define the world is changing. No longer classified into simple and neat categories, the rapid changes within countries are......

Words: 239764 - Pages: 960

International Business

...CIMA Global Business Challenge Case Study YJ - Oil and gas industry YJ - Oil and gas industry case Industry background Oil is a naturally formed liquid found in the Earth’s crust and preserved there for many millions of years. Oil is being extracted in increasing volumes and is vital to many industries for maintaining industrial growth and for nearly all forms of transportation. Natural gas is used in a wide variety of industrial processes, for electricity generation, as well as for domestic heating. Natural gas is described as the “cleanest” of all fossil fuels, as it generates the lowest levels of carbon emissions of all of the fossil fuels. The Middle East remains the region of the world which has the largest proven oil reserves, with Saudi Arabia alone possessing over 20% of the known global oil reserves. Additionally, the UK’s North Sea and areas in USA, Canada and Russia still have substantial reserves. Also there is an increase in oil and gas exploration being undertaken in, and around the coasts of, Asian and African countries. It is not known how long the world's oil reserves will last. The oil industry has stated that there are only 40 years of proven reserves. However, with improved technology, there is expected to be the ability to extract more oil from known reserves. Therefore, the length of time that oil reserves will last is expected to exceed 40 years. However, another factor affecting the life of oil reserves is the speed of consumption. This had been......

Words: 9813 - Pages: 40

Investigating Business Resources

...P1 Physical Man-made items are the source of physical resources that deals with day to day challenges in the business. Physical resource includes building, machines materials Insurance Maintenance. Material Management- They use in the planning, directing, controlling and coordinating those activities which are concerned with materials and record requirements, from the point of their beginning to their introduction into the manufacturing process. It begins with the determination of materials quality and quantity and ends with its issuance to production to meet customer’s demand as per list and at the lowest cost. Building SDSL is based in huge store. They have many departments such as electrical, poster and mirror like big glasses. They also have warehouse and different area for different product. They have a different department staff. An example of physical resource that SDSL needs is adequate building and facilities, such as a small office space for the HR and financial department s to a large warehouse space to store all of SDSL products. When customers enter the building facilities need to be arranged for them, such as meeting rooms or front desks. SDSL, for example, often have desks or rooms where customers can talk to an adviser about financial products, such as jewellery displays seen in Goldsmiths, as well as a screened area from which money is given out or paid in.For some businesses, the attractiveness of the building is not as important as the...

Words: 1199 - Pages: 5

International Business

...A) The name of the company is Apple. The reasons of choosing this company to explore its experience using the concepts of International Business are as follow: Global pattern of trade * Apple is the global company in the retail industry. 43,000 of Apple employees in the United States to work in the 30,000 Apple stores. Apple retail store employees to do more than the average wage of employees, and provides money for universities, as well as a gym membership, 401K plans, health care plans, product discounts and lower prices for the purchase of shares. * Apple has 453 retail stores (such as in March 2015) in 16 countries and 39 countries in the online store. Each store is designed to meet the requirements of the position and the regulatory authorities. Apple has received numerous architectural awards for its store design, especially its location on Fifth Avenue in midtown Manhattan on. Competitive advantage * Before the company advertised its products are being made, the late 90s of the last century the United States; however, as a result of the outsourcing plan in 2000, almost all of the manufacturing process is now abroad. According to a report the New York Times, Apple insiders "that huge overseas factories, as well as flexible, diligent and industrial skills of foreign workers have to make more than their American counterparts that" Made in USA "is no longer a viable Alternatively, for most Apple products. " * The company's production, procurement and......

Words: 1506 - Pages: 7

Investigating Business Resources P1

...Buildings and Facilities - The business I am focusing on is Tesco in Chepstow. It is a superstore and consists of one building for the actual store and one building for the petrol station. The large car park has disabled parking and mother and baby parking closer to the doors so there is accessibility for everyone. Also there is recycling bins at the bottom of the car park. Inside the superstore there is a grocery collection point, direct collection point, clothing collection point, direct order point, general facilities, food ranges and enabling facilities. Also inside the store is a Timpson Ltd kiosk which has a dry cleaners, shoes repairs, phone repairs and key cutting available. The building of Tesco in Chepstow promotes exactly what it need to; it has a very basic design and is very simple. On the front of the building it had a huge sign saying Tesco and they’re slogan “every little helps”. Materials and Waste – one of the main things Tesco have to consider is their storage. They sell hundreds of different products and being able to store them is very important as if they cannot store all of their products, when they run out of stock they would have to wait while for new stock. They must have the facilities to store foods, drinks and other products that aren’t food related. As Tesco use electronic tills and self service electronic tills, they will have computers for programming. Also as they have offices to keep everything in order for the business to keep running;......

Words: 1512 - Pages: 7

International Business

...International Business ( Semester 2, 2014) * Topic 1: Context * Globalization: There is no agreed or consistent definition for globalization but the key features including: * Everything and everyone equal * Intensive and rapid flows cross border flows (eg product, finance) * Not just economic but social, culture also. * Implication for nation states (countries)- a loss on power for the countries on politically as well as economically. * “ Globalization is about growing mobility across frontiers- mobility of goods and commodities, mobility of information and communications products and services, and mobility of people” ( Robins 2000). * Globalization has become a leading concept in doing business during last few decades, there are various aspects of globalization that influencing in doing business such as Competition, exchange of technology, knowledge/information transfer. * Competition: there is increase in competition. It can relate to product, service cost, price, target market, technological adaptation, quick response, quick production by companies. Company needs to focus on production with less cost to sell cheaper in order to increase its market share. On the other hand, customers also have a large multitude of choices in the markets and it affects their behavior: they want to acquire goods and services quickly and in more efficient way than before with high expectation in quality and low prices. * Exchange of...

Words: 12315 - Pages: 50

International Business

...globalization of markets aids international business due to the assets it offers companies. This assets or benefits consist of five benefits in total. The first one is the reduction of marketing costs. This benefit consist of the element of standardizing. This means creating a similar product for the global market and just redesigning the packaging and instructions to meet the needs of other markets across the globe. Another example is using a the same advertising commercial and just dubbing the language. This will help the company reduce costs as well. The whole reduction of cost consist of standardizing different marketing enterprises. The second marketing opportunity is that it creates new marketing opportunities. This benefit consists of exploring markets across the globe that can be successful if their home market is small or becomes saturated. For example the customer service representatives when you want to order from a catalogue. Instead of a god this is a service,but if you find that population is high in another country then that’s a good way to promote a product and have people ready to take orders, even if its from your home country but you are creating business in another country. This will be if another country needed employment opportunities.It would be like building a call center in India for example. The next benefit is that it levels uneven income streams. This in other words is getting profit for the same seasonal product, with international sales in order......

Words: 7799 - Pages: 32

International Business

...FITTskills: International Trade Management Case Study #1: Breezy Auto Filters - Redefining the Business Case Study #1: Breezy Air Filters - Redefining the Business Coming up for air Breezy Auto Parts has been supplying the North American automobile industry with carburetors and air filters for more than half a century. With revenues of about $100 million a year, it is a significant player in the parts industry. Initially, it supplied carburetors and filters to each of the Big Three domestic manufacturers. When foreign car manufacturers entered North America to set up manufacturing operations, Breezy also developed relationships with the newcomers. It redesigned some of its products to fit the foreign models. It also introduced electronic data interchange (EDI) to support just-in-time deliveries to all of its customers. As a result, it successfully realized its original corporate vision of becoming North America’s leading supplier of carburetors and air filters, a position it has occupied ever since. For the past 30 years, Breezy has counted on steady customers and steady revenues. The past two years, however, have raised significant concerns about the company’s future. The price of crude oil has been soaring as have gas prices at the pump. There have been temporary dips in price, but the overall trend is unmistakable: it will be far more expensive to drive in the future. As a result, car sales have flattened and in some cases declined. This is especially ...

Words: 1016 - Pages: 5