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International business exms
International business exms
International business exms
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There was once a world relatively divided in trade. Boundaries were not drawn by trade agreements and embargoes. Boundaries were drawn simply by the impossibility of one group of people to travel to the opposite side of the world to conduct business. Advancements in technology, communication, and transportation have allowed businesses to conduct business all around the world. In result, these advancements have created the developing field of international business. The field of international business is new in consideration of traditional disciplines, like medicine or literature. This field studies the relations of multinational companies and their role in the global economy. Generally, international business trade was inspired by the need …show more content…
Conducting marketing research in the workplace of an international business is important in improving key marketing decisions. Unlike the vagueness of general business research, marketing research has a formal set of guidelines to follow in order to gather data and analyze it. This method is essentially a problem solving method, where the solution is found using data collection and analysis. There are three distinct methods of generating marketing research: exploratory, descriptive, and casual research (Smith 2012). Exploratory research is used when trying to define and solve a major international marketing issue. Exploratory research is used to come to a solution to a marketing problem by studying different options and clarifying major marketing concepts. Descriptive research defines questions and forms a method of analysis prior to data collection (Smith 2012). Casual research is as simple as its name. With casual research, people are looking to find a cause and effect relationship between two variables in a less structured way. The three of these are very general marketing research strategies, but in order to apply them to international business, they must be focused on globally and internationally versus locally. Finding marketing strategies that encompass more than one culture and demographic is essential to the success of any international company. The ability to sell and distribute goods to a large amount of people of many different backgrounds is a quality that is unique to the field of international
Bentley, J., & Ziegler, H. (2008). Trade and encounters a global perspective on the past. (4th ed., Vol. 1, pp. 182-401). New York: McGraw-Hill.
Scott Szwast’s speech entitled, “Scott Szwast: The global business next door” was an informative look into international trade in America and the effects thereof to a business’s growth potential. Szwast used this speech to dispel the idea held by many American’s, which is that global trade is a market for large corporations. According to Szwast, many business owners don’t take advantage of the business opportunities across the world because of “self-imposed borders”, which are doubt, uncertainty, and fear.
Hennart, J-F (2001) Theories of the Multinational Enterprise, In Rugman A. M. and T. L. Brewer (eds.) (2001) The Oxford Handbook of International Business, OUP, Oxford
Polaris Marketing Research (2008). Marketing Research Process: An Overview. Retrieved May 8, 2008, from http://www.polarismr.com/edctr_overview.html
Hill, C., Wee, C. and Udayasankar, K. 2012.International Business:An Asian Perspective. 8th ed. Singapore: McGraw-Hill.
Multinational enterprises date back to the era of merchant-adventurers, when the Dutch East India Company and the Massachusetts Bay Company traversed the world to extract resources and agricultural products from colonies (Gilpin 278-79). While contemporary multinational corporations (MNCs) do not command the armies and territories their colonial counterparts did, they are nevertheless highly influential actors in today’s increasingly globalized world.
Steve Kafka, an American of Czech origin and a franchisor for Chicago Style Pizza, has decided to expand his business into the Czech Republic. He knows it is a risky decision; when he became a franchisor, he had to overcome a lot of difficulties. Steve anticipates he will face some of these difficulties again at the new location in Prague, Czech Republic. Although he was born in the United States, he has family and friends in the Czech Republic, speaks Czech fluently, and has visited the country of his origin several times. He knows the people and the culture. In this paper, I will analyze the cross-cultural differences between the United States and Czech Republic, determine comparative advantages in this country, and recommend ways to minimize the risks of establishing a franchise overseas.
15. Hill, Charles W.L. International Business: Competing in the Global Marketplace. New York : McGraw-Hill, 2007.
Malhotra, N.K., 2002. Basic Marketing Research: A Decision-Making Approach. Upper Saddle River, New Jersey.: Prentice Hall.
Daniels, J. D., Radebaugh, L. H., and Sullivan, D. P., (2011). International Business: Environments and Operations. Prentice Hall, Upper Saddle River, New Jersey.
Briefly it is a systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company, allows management to make the changes necessary for better results through adopting a proactive approach. Therefore, if a company wants to know what type of products or services would be profitable it should make a market research. Furthermore, a comprehensive research will enable the company to know about the product imperfections (if there are) and to know if it has been able to satisfy customers’ needs. It attempts to provide accurate information that reflects a true state of affairs. Due to market research the company can formulate a viable marketing plan and estimate the success of its existing plan. There are two main sources of marketing research information:
The progression and evolution of international business has played an integral role in the overall development and progress of the world economy, culture, and politics. The multinational corporation was an essential part of this process and has roots as far back as the 15th and 16th centuries in Western Europe, specifically in the nations of England and Holland, during a period known as mercantilism. This was a time of unprecedented global exploration, colonization, and other imperialist ventures. Organizations such as the British East India Trading Company, promoted both global trade and the acquisition of natural resources, primarily for their home countries in areas including Africa, East Asia, and the Americas. Global trade was the primary factor in the growth of the world economy during this time. However the modern MNC, as it is known today, did not appear until the 19th century. These new entities provided a new level of inter-firm connectedness, a wider division of labor, and a higher level of product integration across countries in which MNCs are growing. Studies have shown that modern MNCs are characterized by a high degree of complexity, and have not followed a linear pattern in their development. In addition, it is crucial to understand the geographical context in which these MNCs were founded. This paper will analyze the development of the multinational corporation (MNC) from the 1870s to the modern day and examine it what ways, and to what degree it has changed over time.
Modern society is dominated by multinational corporations. In the past 30 years there has been unprecedented development of transnational corporations (TNC), which is “any corporation that is registered and operates in more than one country at a time” (Transnational). Now, there are more than 63,000 TNCs, while there were only 7,000 in 1970. That is more than 900% growth in TNCs in only a few decades. Even more startling, 70% of all trade, includes at least one of these TNCs (Basic).
The process of globalization allows the global market to include products and services from all the companies around the world, including all the investments that is across national borders. Indeed, many American companies have taken their merchandise, manufacturing and services to invest in other countries. However, this has produced a negative effect in the global economy. The American companies
Stonehouse, G., Campbell, D., Hamill, J. & Purdie, T. (2004). Global and Transnational Business (2nd ed.). Chichester: John Wiley & Sons.