Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Impact of globalization on international business
The impact of globalization on international business
Cultural dynamics and international marketing
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Impact of globalization on international business
Doing Business in Europe
1. Common Market
The first chapter deals mostly with the definition and pecularities of the so-called Common Market, formed from countries of European Union. The Common Market encloses European Union of Coal and Steel, European Economic Union and European Nuclear Energy Union. Since 1967 the European Union has the following non-national and intergovernmental bodies: Cabinet of Ministers, Commission of European Unions, European Parliament and Council of European Unions.
Before the 1970, the countries of European Union were supporting the budget of European Union at the cost of their national budgets. Since April 1970, the Common Market holds its own resources independently from budgets of supporting countries. This fact makes the administrative bodies of European Union independent.
2. Tax System
Common to Europe and all the world is the tax system which includes all or most of the following taxes: Income tax, Corporation tax, Trade tax, Turnover tax, Property tax, Heritage tax, Purchase of Land tax.
3. International Concerns, Transnational Corporations and their policies
These include the definite politics in the field of profitability of foreign branches. The policy is aimed to gain high profits in countries with comparatively low taxes, and in the countries with high taxes the accumulated profit must be lower. The common goal of transnational corporations is, of course, to preserve the liquidity and profitability of foreign branches. Thus such branches are required to send certain information to the main office each month or each quarter.
4. World Currency System
European Market is a sum of currency operations which are done at the free world market outside of native country. The international currency terminology distinguishes such currency markets as: currency markets, where the trade of foreign currencies is done within the home country, and the euromarket, where the trade of foreign currencies is done outside of the home country.
5. How to Sell in Western Market
Common conditions for success are like a set of rules. The first rule states: it is comparatively easy to produce something, but selling it is a challenging task. The main principle of survival for manufacturer is to produce goods that can be sold, not to sell what the company produces.
The common conditions for survival on the market include high quality of the product, fast and cheap support, satisfactory warranty period, and good marketing. Here the cultural differences must be considered, together with the information about prior experience is selling the particular product inside and outside of the home country, mentality differences, pace of progress, culture values, religion.
The European Union has been helped economically ever since World War II. Right after World War II’s end, Europe was struggling to hold on. The countries of the modern-day European Union thought it would be a good idea to come together and help each others struggling economy. To this day, this decision has had a very positive outcome on the EU’s economy. As shown in Diagram 1, the European Union combined together has the world’s highest GDP at 18.3 Trillion USD as compared to the United States’ 17.4 Trillion USD GDP and China’s 10.4 Trillion USD GDP. The idea
In conclusion, the European Union has “merged” the countries of Europe. It has developed a common currency called the Euro’s, and a Parliament located in Belgium, Luxembourg, and France. Also, ALL of the countries of the Union are affected when one country is affected. This is important because the continent of Europe had become very weak after the wars and they needed to strengthen, and the European Union keeps the countries of Europe strong and economically fit.
The Common Market is the third level of trade blocs. This has features of the Customs Union plus free movement of capital and labour and some policy harmonisation such as similar trade policies to prevent certain member countries having an unfair advantage. The European Union is an example of a Common Market and is an economic and political partnership that involves 28 European countries. It allows goods and people to be moved around and has its own currency, the euro, which is used by nineteen of the member countries (The UK excluded). It also has its own parliament and sets rules in a wide range of areas such as transport,... ...
The ability of a unit to survive is largely dependent upon the hospitals internal financial budgetary performance and the external needs within the community. Developing a financial budget is a process that should use teamwork to plan and implement in order to be effective. The budget sets perimeters for administrators to follow throughout the year, allowing the director to report variances while providing guidance to maintain a minimum variance and adjust when possible (Finkler & McHugh, 2008). By using all department managers in the planning process of the new budget, the nurse executive is able to develop effective strategies for all departments while investing in the goals. This eliminates many problems associated with budget and identifies areas that need improvement or expansion. Because of the competition, declining margins, and other economic pressures, nurse executives need to take steps to control costs and increase revenues for this unit. The overall goal of the financial performance within the organization is to meet the total budgetary needs of the unit to produce favorable outcomes. My focus will be to propose the expansion of a new Joint Replacement Unit (JRU) within the hospital, while identifying the major operating components of the budget for this organization. The importance of reviewing the budget for a newly developed unit is to allow the nurse executive and administrative team to manage the existing organizational programs within in the facility, plan for goal accomplishments for the new unit, while controlling costs.
Over the course of sixty years, the European Union (EU) has evolved to become one of the most economically and politically integrated regions in the world. Compare and contrast the EU with one other major global trading bloc, such as NAFTA or ASEAN, with which you are familiar.
January 1, 1999 marked the beginning of the euro as an accepted currency in eleven European countries. Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain all adopted this single currency, becoming subdivisions of a common monetary policy. On this date, the exchange rates of each of the participating countries were set, and the euro was officially recognized as the legal currency. The push towards the development of a common currency began in 1957, when the Treaty of Rome stated a common European market as an objective, hoping that “an ever closer union among the peoples of Europe” would inevitably occur. The approval of the Single European Act in 1986 symbolized and cleared the way for accelerated European integration and the completion of a single European market. Consequently, European governments and industry began to place greater emphasis on the competitiveness of European industry and on the reduction of barriers within Europe that hindered industry’s global economic competitiveness. The European Union went a step farther in 1992 in the Treaty of European Union, creating the Economic and Monetary Union (EMU).
The EU is a union of sovereign European states who share sovereignty based on treaty. The union also possesses competences in policy sectors with exclusive jurisdiction in the area of Economic and Monetary Union while others are shared with Member States (MS), the other powers belong to MS as derived from the conferral of powers art 5(2) TEU, 2(1) TFEU art.3 & 4 TFEU additionally other powers have been offered by the decisions of the European Court for direct effect on citizens
Assuming a country had a favorable political, legal and economic environment; its cultural environment was evaluated. Culture impacts demand and the marketing mix; therefore, if a country's culture was deemed unfavorable, it was not included in the top ten ranking. Similarly, if a country's culture seemed especially favorable, that aspect is denoted later in the analysis. Cultural factors considered in this analysis:
In internationalization, the most challenging decision faced by the company to choose between standardization and adaptation in its operations, products or services. It has been one of the important and most popular research topics since 1960s to understand whether standardization is better or adaptation for marketing mix in international marketing. The increasing role of international expansion of business across the borders has also increased the focus of companies towards the international marketing strategies. It is also a biggest challenge for companies to better understand the different needs and choice of customers due to the huge differences among the cultures from various nationalities. This leads to the dilemma in the mind of marketers to understand which strategy is effective and good - standardization or adaptation. There is a significant impact of standardization or adaptation on all avenues of business such as research & development, structure, marketing mix, production, finance and marketing mix. The attitude of a company towards the culture of a particular country in which it is going to enter or start its operations decides to choose between standardization and adaptation. Consider the different views and arguments for each standardization and adaptation, this essay critically analyze which strategy is better to choose for international marketing.
Since the Romans implemented domes and arches into their construction and sculptures, they were able to create the aqueducts, a water supply channel constructed to move water in and out of the Empire. Thus, something original to Roman Culture, large imperial bath houses were created for both rinsing and socializing, since the Catholic Church limited socialization in the later half of the Empire. Although the primary purpose of the bath house was, well, to bathe, they were also seen and used as community centers, where one would invite their friends for a meal, where politicians could go to lobby and convince others of their plans, where one would go to read, and so on. The bath houses and their importance, unique to the Romans, also enabled many Romans of lower economic status to educate themselves, as the bath houses contained a
In my hometown and many other towns, the streets are very dangerous. Gangs wander throughout the town; If I don’t join one I might be harmed. If I do join one, I could still be harmed. Many people are so afraid of the thought of facing those gangs that they lock themselves in their houses. Even if the gangs do not harm me, the police or military might ‘accidently’ shoot me, like they do to many others.
Europe has a history of war and conflict that predates living memory and the idea of a united Europe is something that appears repeatedly in that history. Hitler, Napoleon, and the many Roman Emperors all sought a united Europe. Their quests although in many ways motivated by a horrifying desire for power sparked the minds of philosophers and other political thinkers to imagine Europe united in harmony and peace despite national differences. Today we have the European Union which is quite unique. After the horrors, bloodshed, and economic disaster of the twentieth century, in a desire for peace and harmony and economic and political prosperity twenty-seven states have limited their national sovereignty.2 With national interests and ambition still in mind these countries see the European Union and supranational governance and the benefits of peace and prosperity therein as something worthwhile. However, in the history of European integration there has been much conflict and Euroskepticism. Some see unity in diversity and diversity in unity as impossible, and the existence of differentiation in the EU as highly problematic. However, differentiation in the European Union’s integration process is not the hindrance it is often defined as, rather it creates further cooperation in Europe bringing the European Union closer to its objectives of peace, and economic and political growth, resulting in a more effective and efficient bureaucracy. Differentiation in the EU’s integration process has created more successful integration as it allows the nations who wish t...
Products are not standardized and vary by country in terms of type, packaging and specification. This increases production time, production costs, lead tim...
I also found that new product development for international business is more challenging against the competitor. Because product life cycle was found to be shorter in international market due to increase level of competition. Moreover during the assignment work I never knew that cultural issue were to important in international