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Cultural dimensions of doing business internationally
Effect of globalization in international business
The impact of globalization on international business
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I found this topic so interesting and motivating and I believe that I got some new knowledge and skills after attended this assignment topic. My experience has been successfully expanded as a result of attending classes, to include global approach to the international business. I found out that practice for international business has become little bit complicated due to influence of globalization. I updated my knowledge and skills in such area of international business our group found out during the international business classes that the rules of business for import and export as well as for domestic have been changed because of present opportunity and threats globalization. I understood that import and export of goods and products are more competitive due to force of advancement, technology, and the role of internet increasing day by day in private and professional lives of people.
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And also it makes a good relationship between two countries. I know about the culture and people of other countries and also about that demand their desire. And just because of this people demand every businesses wants to supply their products and services to the other countries. I also know about that through this assignment most of the countries members of different free trade agreement. Trading blocs is group of countries within geographical region that protect themselves from imports from non-members. So that one is the most important knowledge I got through this assignment which helps me in my future to do something new. 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
MKT 4410 was a very meaningful class for me, and it helped me to understand and analyze the international market better. Now, the current international market is becoming more complex and difficult to understand because of the globalization of information and the political policies of countries. Although the international market is risky to enter, I learned enough professional knowledge about international marketing that can help me to survive in the foreign market. Also, Country Manager was a very useful tool for me to learn the knowledge by doing simulations. I learned the complex relations between every decision that we made in the market and how it might affect our firm’s success in the market. During the process, I think there are two most important things I learned from Country Manager; they are: knowing and analyzing the consumers
Therefore, I hope that I can achieve many new valuable experiences as well as friendships through this class. As a student, I believe I have the responsibilities to pay attention in class, and contribute to the class as much as I can. Besides, I need to ensure that I finish homework before coming to class and seek for help when needed. My goal is to become a successful business woman, who has the opportunities to work with different countries and cultures around the world. I am confident that this class will help improving my analytical and organizing skills, which are helpful and beneficial for my career in the
...arket to other businesses is a skill I am very interested in learning. International Marketing will explore the issues of marketing globally. Different cultures have different values that I am unfamiliar with. Learning the way to approach these situations will help me expand my understanding of marketing concepts and their application.
In this class, I was able to look deeper into problems that are occurring around me but also globally. There are so many global issues that
When it comes to doing business internationally the decision making is more complex. There are many interactions between each country that need to be addressed. In order for a business to be successful in the international market they need to examine and analyze all the facets of their company. They need
18. Rugman, Alan M. and Collinson, Simon. International Business 4th Edition. Essex : Pearson Education Limited, 2006.
...ew it in different perspectives. The outcomes were surprisingly insightful and greatly enhance my contribution towards the development of our business plan. It allows me to look back on what has been done and learned from what did or did not work out. In other words, it helped me to see both the positivity as well as the negativity in our ideas and thus stimulate improvements. This assignment also cultivated a sense of team spirit through teamwork and boost creativity through the development of thinking outside the box. Therefore, this assignment has definitely aid my knowledge in developing skills such as writing up comprehensive critical reflection and evaluating the risks of certain business ideas. Aside from that, I have also managed to deal with people from different cultural background through teamwork and develop unique business ideas and market strategies.
Daniels, J. D., Radebaugh, L. H., and Sullivan, D. P., (2011). International Business: Environments and Operations. Prentice Hall, Upper Saddle River, New Jersey.
Expansion across seas can be very advantageous and lucrative for many companies; however, there are many risks associated with doing business overseas, and companies that intend to expand internationally should be careful and strategic when doing so. Not only do companies run the risk of experiencing a product fail due to differences in cultures, they also face severe political and economic risks as well.
In week five we learn about the importance of globalization and how it can help your company’s profits grow. There are many things to look at when selling globally as different cultures need to be looked at differently when making a marketing strategy. If you understand how to market your products to different cultures in different countries you can take advantage of the profits that can be made through globalization.
As all the countries are on the way to globalize with each other, business is not the exception. Globalization in business definitely brings a lot of great opportunities for many countries. However, in order to make the best of the globalization in business, management is the golden key to that success.
With the proliferation of the internet international Business transactions are more common today than ever. Globalization is now a key factor when creating a business strategy for most companies whether they are small family own businesses or huge corporations. Globalization however does not just involve selling a product in other countries. There are legal and cultural concerns that must be addressed. The legal aspects are fairly simple because in most places the laws are spelled out. It's the local customs, and regional way of doing things that can be tricky. Research on globalization has shown that it is not an omnipotent, unidirectional force leveling everything in its path. Because a global culture does not exist, any search for it would be futile. It is more fruitful to instead focus on particular aspects of life that are indeed affected by the globalizing process. (1). In this new economy, as it has been in the past, it will be the people not the machines who will determine a company's success. Having an effective Human Resource Management team that effectively analyze your company's current and future personnel needs is key in any business organization.
As a conclusion international business best described as a Globalization. A globalizing business sector advertises viability through rivalry and the division of the work it permits individuals and economies to keep tabs on what they specialize in. It also allows people to go globally. Globalization has stretched the assets, items, administrations and markets accessible to individuals. The increasing set of reliant connections around individuals from distinctive parts of a world that happens to be separated into countries
International business contains all business transactions private and governmental, sales, investments, logistics, and transportation that happen between two or more regions, nations and countries beyond their political limits. Generally, private companies undertake such transactions for profit governments undertake them for profit and for political reasons. It refers to all those business activities which involve cross border transactions of goods, services, resources between two or more nations. Transaction of economic resources includes capital, skills, and people. for international production of physical goods and services such as finance, banking, insurance, and construction.
Currently in the global environment, there is a strong sense of competition that must be achieved through better performance, almost all firms are competing in international markets due to the reduction in barriers for capital and tariffs. With the new changes in both communication and technology, the consequences faced are that production processes are no longer within national boundaries but spread across (Debrah & Smith, 2002).