Free Essay

Build International Business Network

In: Business and Management

Submitted By alank
Words 3726
Pages 15

Task 1 – Report
Task 2 – Theory Exam

Marcos Vinicius Steluti Gulin


1.a The country that I chose to import products into Australia was Brazil. The area field was food and the product is the acai berry. PRODUCT
The fruit, commonly known as açaí berry, is a small, round, black-purple drupe about 1 inch (25 mm) in circumference, similar in appearance to a grape, but smaller and with less pulp and produced in branched panicles of 500 to 900 fruits.
In the general Brazilian consumer market, açaí is sold as frozen pulp, juice, or an ingredient in various products from beverages, including grain alcohol, smoothies, foods, cosmetics and supplements. In Brazil, it is commonly eaten as Açaí na tigela (acai in the bowl).
Information taken from: DRIVERS OF CHOICE
The reason for choosing the acai product for import into the Australian market, are: 1- Australians generally care about health and has an interest in natural products. 2- The climate of Australia is hot, making the product suitable for the Australian market. 3- Acai is an original product of Brazil, which makes it interesting and new to the Australian public.

The purpose of business is to buy fruit and turn it into finished product, packaged and prepared for consumption in Brazil. And soon after that industrialization, sends him to Australia by refrigerated containers.
The great strength of the business is the low cost of fruit, labor and product industrialization in Brazil, and the strength of the Australian currency on the Brazilian currency, which would generate a high return to our business.
The acai berry is a product that is already on the Australian market, however, is being sold in specialty stores at a high cost. The objective of our business would offer the product at a slightly cheaper cost in major supermarkets in Australia. Are three types of products, an individual pack to be consumed on the spot, a package to be stored and consumed in multiple portions, like ice cream, and acai berry juice.

1.b A process that fosters the exchange of information and ideas among individuals or groups that share a common interest. Networking may fall into one of two categories - social or business. In the latter category, one of the implicit objectives is to form professional relationships that may boost one's future business and employment prospects.
Information taken from:

TRADE FAIRS are temporary events in different recurring intervals where new products and services are presented. The number of trade fairs is steadily increasing worldwide; therefore it is important for exhibitors and visitors to get a quick overview and find the right trade shows for themselves.
One way to get contacts in Australia would be trade fairs, one that is especially geared for the food industry is the Fine Food Queensland. It's three days of fair in the Brisbane Exhibition and Convention Centre, where we can rent a space. The fair already offers packages with standard booth space to expose the products.
Fairs like these, we could find all sorts of contact. Investors interested in investing money in product, store managers and markets we could sell our products, transportation companies to bring the product to Australia and also carries it inside the country through states, skilled labor in the food market.
Information taken from:

BUSINESS AND INDUSTRY ASSOCIATIONS are usually not-for-profit organisations that support businesses in a specific industry. They may: * give information about your industry (i.e. how changes to legislation will affect your business) * provide you with useful resources (i.e. information and programs to help you meet industry standards) * run training and education programs * organise seminars * facilitate networking events * manage mentoring programs * connect you with other businesses in your industry * arrange public relations or advertising activities to promote your industry * organise advertising campaigns to educate or persuade the public about issues relevant to your industry * lobby on behalf of your industry to influence government policy.
These associations offer some information and services for free, but, in most cases, you need to become a member and pay a fee to access their full range of information, resources and services.
In many industries, becoming a member of the peak body can give your business credibility as your membership proves to customers that you have met strict criteria and have certain qualifications and experience.
This guide introduces a range of business and industry associations that can help you to run your business in Queensland.

Join industry associations is a great option for contacts, they organizing networking events, conferences to update the laws relating to industry, help to expose your brand and publishes it to the market.
I researched the industry association FIAQ (Food Industries Association Queensland). To become a member, the price is $ 150.00 dollares. To advertise your business and become gold member of the association, the price is $ 2,500.00. Some events are to come, as FIAQ Networking Breakfast on 27/08 at The Comslie FIAQ Hotel and Conference on 29/10.

AUSTRADE Australian Trade Commission – Austrade - contributes to Australia’s economic prosperity by helping Australian businesses, education institutions, tourism operators, governments and citizens as they: * develop international markets * win productive foreign direct investment * promote international education * strengthen Australia’s tourism industry * seek consular and passport services.
We achieve this by generating market information and insight, promoting Australian capabilities, developing policy, making connections through an extensive global network of contacts, leveraging the badge of government offshore and providing quality advice and services.
We aim to create value for our business sector, and do it in a way that represents a good investment for the taxpayer. And we seek to do all this in a way that meets or exceeds all appropriate standards of ethical behaviour.
Information taken from:
Austrade is an important tool to implement our business in Australia, they offer all kinds of necessary support for the implementation of business in Australian land. They can help us with initial coordination of all investment inquiries and assistance, information on the Australian business and regulatory environment, market intelligence and investment opportunities, identification of suitable locations and investment partners in Australia, Australian advice on government programs and approval processes.
In the Austrade website there is an option to get in touch with a specialist investment Austrade, unfortunately there is no specialist in Brazil, however, there are specialist in the United States and Europe. In the case, we could try an online meeting to create a contact with a specialist rather than going to one of these countries or even Australia.

LINKED IN allows you to network with whoever, and whatever business/business person you like. By accepting connections and inviting people you already know to become connections you are expanding the amount of people your profile is seen by; as the people who you’ve connected with will have connections and their connections will be able to see (and so connect) with your profile. But basically, expand your reach and your professional profile will blossom.
Not only can you ‘connect’ with people on LinkedIn you can connect with communities by joining groups. Groups which represent official organisations, companies etc. are great to join because you can connect with people like you; people who are either in that field of work, or are looking to be in that area of work. So, sharing information and even your details (i.e. Twitter username to encourage ‘like minded’ followers) on the group so other members can see it is helpful; as it helps you to not only make your LinkedIn profile visible to potential employers, but also helps to expand your other social networks with people who have the same interests, job aspirations etc. as you.
Information taken from:
LinkedIn is a tool specifically geared towards networking, lets you view your professional profile for millions of people. In view of our business, looked for someone or some company that could help me to introduce my business in Australia, and that was on the same food that I branch. I found the profile of Rachelle Williams of Brisbane, which offers training in the food area and webinars for free.

CONFERENCE A conference is a meeting of people who "confer" about a topic. * Academic conference, in science and academic, a formal event where researchers present results, workshops, and other activities. * Business conference, organized to discuss business-related matters * Conference call, in telecommunications, a "multi-party call" * Conference hall room where conferences are held * News conference, an announcement to the press (print, radio, television) with the expectation of questions, about the announced matter, following. * Parent-teacher conference, a meeting with a child's teacher to discuss grades and school performance. * Peace conference, a diplomatic meeting to end conflict. * Settlement conference, a meeting between the plaintiff and the respondent in lawsuit, wherein they try to settle their dispute without proceeding to trial * Trade conference, or trade fair, organized like a business conference but with wider participation and providing the opportunity for business people and the general public alike to network and learn more about topics of interest through workshops, viewing whitepaper presentations, and meeting vendors of similar or related services.


Type | Date | Cost | Purpose + Objetive | Trade Fairs | 11/abr | $470 | Expose the brand and attract stakeholders. | Industry Association | 1 year of membership | $150 | Catch up with information about the food industry. | Austrade | Always | FREE | Expert help to deploy the business in Australia. | Linked In | Always | FREE | Create network of relationships with stakeholders. | Conference | 22/jun | $770 | Being in touch with all the news from the food area. |

2.a HOFSTEDE is a Dutch social psychologist, former IBM employee, and Professor Emeritus of Organizational Anthropology and International Management at the University of Maastricht in the Netherlands, well known for his pioneering research of cross-cultural groups and organizations.
Armed with a large database of cultural statistics, Hofstede analyzed the results and found clear patterns of similarity and difference amid the responses along these five dimensions. Interestingly, his research was done on employees of IBM only, which allowed him to attribute the patterns to national differences in culture, largely eliminating the problem of differences in company culture.
Hofstede would be a great line to find information about the country's culture and how to deal with customers, suppliers and employees. His study is divided into 5 parts, which are: Power / Distance, Individualism, Masculinity, Uncertainty / Avoidance Index and Long Term Orientation.

KWINTESSENTIAL.CO.UK is a website founded in 2003 with the goal of helping companies in the globalization of its business. It is an important source of data on over 30 countries worldwide. For each country is provided data such as: location, population, climate, language, religion, meeting etiquette.

AUSTRADE.GOV.AU Austrade is an Australian Government site that helps international investors to put their business in Australia. They provide a guide on site for those interested in investing in Australia, with various information, including culture. They have also especialistadas in many countries around the world ready to give necessary assistance in case anyone wants to implement its business, including cultural information, and if anyone finds the expert, since eh an opportunity to learn the culture of another country.

HIGH CONTEXT VS. LOW CONTEXT The general terms "high context" and "low context" (popularized by Edward Hall) are used to describe broad-brush cultural differences between societies.
High context refers to societies or groups where people have close connections over a long period of time. Many aspects of cultural behavior are not made explicit because most members know what to do and what to think from years of interaction with each other. Your family is probably an example of a high context environment.
Low context refers to societies where people tend to have many connections but of shorter duration or for some specific reason. In these societies, cultural behavior and beliefs may need to be spelled out explicitly so that those coming into the cultural environment know how to behave.

PROFILE CROSS-CULTURAL BETWEEN AUSTRALIA - BRASIL Interpersonal Skill | Australia | Brasil | Greetings | Handshake | Handshake | Form of Address | 300 Adelaide St Brisbane City QLD 13 13 18 | Avenida Paulista, 1901 Sao Paulo, SP 00000-000 | Process for making an Appointment | Usually in time | Usually late | Language | English | Portuguese | Eye contact | Yes | Yes | Direct or Indirect communication style | Direct | Indirect |

Greetings In Brazil and common people greet with kisses between men and women, and between men shaking hands. Even if people are not known when they are presented to each other, they kiss normally. However in Australia and different, even if you already know, it is not common for people to kiss. In a formal situation, however, the Brazilian only use the handshake, which signals a good entendimente between the two parties in a business relationship.
Form of Address The only differences between the forms of addresses between the two countries is that in Australia the number is first used to the street, and the street in Brazil that the number comes first.
Process of Making an Appointment There is a big cultural difference in the question of appointment, in Australia, it is common for people to always be on time, but the Brazilian almost always late to their appointments.
Language In Australia the English language is spoken, and the Portuguese in Brazil. However, with globalization, English became the official language of business, and is a great number of Brazilians who speak fluent English, especially those who work in the business.
Eye Contact Both countries have a culture of eyes in the eyes when they are speaking, to convey trust and respect.
Direct or Indirect Communication Style The Australian is usually straightforward in their attitudes and way of speaking, as the Brazilian is different mainly in speech, always extending a little more and trying to explain in minute detail why it is saying.


Business Meeting

I attended a networking event called business meeting. In this type of event is possible to find business people in an informal setting to try to find common interests and find business opportunities. I could talk to Sarai, an importer of drinks from Mexico, we exchanged business cards. The cost of the event was around $ 100 and 200 dollares.

Agave Mexican ProductsSarai Martinez Martinez International Manager Level 1, 20/340 Queen Street4000, City, Brisbane, Aus. Mobile: (+61) 0412843856 AUS, (+52) 4448335226 MEXE-mail: Website: |

We are from Latin countries, and have similar cultural customs, noted great professionalism on her part, always smiling, looking into my eyes, our initial and final fulfillment was by handshake, and at no time felt uncomfortable with our conversation.


Dear, Sarai

It was a pleasure to meet you at the business meeting. As we speak, we have interests in common in Australia, and we work in the same area of business, would be profitable to keep in touch.
I have your business card and would like to visit you next week, are you available some day?

Best Regards,

Marcos Gulin.
As our conversation, we have a lot in common and a lot to help us. An important point was to divide the office here in Australia. Both she and I are just introducing our products and we can split this first moment an office for both companies.
Another important point was to divide contacts as we practically in the same area, but we are not competitors.
Finally, we found that it would be interesting to introduce the tequila agave in Brazil, and the Brazilian açai in Mexico, so after our success in Australia we could try to penetrate these two countries since we contact each other.

Linked In

I also created a profile on professional relationships Linked In network, and searched people from the business and acted in the food area to help me introduce my business in Australia.
I found the profile of Rachelle Williams, a professor of TAFE who works in the food area to 14 years and provides free webinar on the internet. Linked In is free, however there are some paid plans that give even more opportunities to find contacts on the website.
The contact Rachelle would initially by email, it is very important to pay attention to communication, because she is a native speaker Inglês, then maybe there are some communication barriers, especially in person. It is very important punctuality and respect, and researched the Kwintessential website, Australian people do not like to talk about your academic achievements and always smile and greet by shaking hands. EMAIL
Dear, Rachelle Williams

After our initial contact at Linked In, I would like to thank you and show my interest in following our contact below.
Any webinar scheduled for the coming weeks? I have great interest in participating.
Anyway, it would be a pleasure to meet you for a coffee.

Best Regards,
Marcos Gulin

The great benefit of this contact would be the advice of a specialist in the food area of Brisbane, which makes it even more important that contact is that it provides such information and consulting for free.

Industries Associations

Industry associations can offer beyond business meeting, talks about new laws in the area where the business will be deployed, and data and important information about the chosen area.
I chose FIAQ (Food Industry Association of Queensland) to join, and the annual cost is $ 470 dollars.
There are two events that can generate contacts for our business in Australia, one is FIAQ Networking Breakfast on 27/08 and the other is FIAQ Conference on 29/10.

It will be very important fluency in the English language for this type of event, mainly because I'll find all kinds of people and Australian rules tag will be crucial. As a breakfast is an informal event, know about sport and Australian subjects may be a difference in time to start a conversation.

Dear, Industry Association

I hereby apply for associate myself with the institution, I have a plan to deploy a business in the food area, and all information and lectures and business meetings would be essential to the success of my business.

Best Regards,

Marcos Gulin
The major benefits of me joining an industry association events are available throughout the year, as business meeting, conference and lectures. Very important are also the current information provided by them.

Cost per Lead
As we can see in the table, business meeting would be a good choice for networking would cost cheaper than a TV ad, the cost per lead would be 200.00 dollares while the ad on tv 2500.00 dollars.

Cost per Lead | Cost | Referrals | Cost per lead | Business Meeting | 200 | 1 | 200 | TV Marketing | 50000 | 20 | 2500 |

Conversion Ration
We put a sample of 20% benchmark and did conversion ratio of the association industry, and we can identify it would be good business to join an association of industry.

Conversion Ratio | Costumers | Referrals | | | Industry Association | 30 | 100 | 0,3 | 30% | Benchmark | 20% | | | |

With the ROI can directly identify the profit of each investment to get a cantato, as the table shows LinkedIn is a great option because it is free and offers a complete search engine contacts.

ROI | Revenue | Investment | | Linked In | 150 | 0 | 150 | Ad on Website | 500 | 100 | 5 |



1- List 5 places or organisations that provide opportunities to build international business networks.

Trade fairs, Conferences, Linked In, Industries Associations and Business Meetings. 2- List 3 professional development activities or events.

Linked In, Business Meetings and Industries Associations

3- Why are international business networks useful? What useful information or industry knowledge can you gain through international business networks? List 3 sources of Information.
Business networks are important to acquire information, data, customers, best prices, all that can facilitate the implementation of a business in a particular location. Besides offering the opportunity to meet and conduct other business partnerships. Could obtain information as competition, rental rates, raw material and labor. 4- In a short paragraph, describe the steps you would follow to research, identify and join an international business network.
I would first look on the internet all the possible options and all the information that I would have to join a business network, then prices indentificar and if this would be the best network and finally go in person, if possible, to know and understand how this network works. 5- List 3 sources of information on cultural information for specific countries.
Hofstede, Austrade e Kwintessencial. 6- Define cultural awareness.
Cultural Awareness is the foundation of communication and it involves the ability of standing back from ourselves and becoming aware of our cultural values, beliefs and perceptions. 7- Describe the process you would follow to build cultural awareness when building an international business network.

I would look at all possible sources to know about the culture of the country or else I would relate, and be very careful when I relate them.

8- The Trade Practices Act and World Trade Organization are key organisations and provide legislation that affect business operations, codes of practice and national Standards. Summarise their purposes in Australia trade.

The Trade Practices Act was introduced in 1974 to prohibit large business using their market power for anti-competitive purposes and has ample resources to enforce these rules.

The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities. But a number of simple, fundamental principles run throughout all of these documents. These principles are the foundation of the multilateral trading system. Non- discrimination, more open, predictable and transparent, more competitive, more beneficial for less developed countries, protect the environment.


Similar Documents

Free Essay

How to Build a Powerful Network

...Article – The real way to build a social network Reid Hoffman and Ben Casnocha This article is from the February 6, 2012 issue of Fortune. “Networking” is a very common word now-a-days. It is not only about what you know, but it is also about who you know. Reid Hoffman is a partner at Greylock and founder and executive chairman at LinkedIn Ben Casnocha is an award-winning entrepreneur and author. The article talks about building a social network. It tells about building a relationship with others requires two important abilities. First, one should be able to see the world from other perspective. Second, one should be able to collaborate with other by helping them and not by thinking what he/she would get in return. Keith Ferrazzi, author, New York Times #1 bestsellers, Who's Got Your Back and Never Eat Alone quotes: “The currency of real networking is not greed but generosity.” The article then goes on and describe the ways in which one can diversify and strength his/her network. The author describes that the best way to increase the efficiency of your network is by strengthening your relationship with people who you already have in your network. The article also talks about the weak ties and how they can help you increase the effectiveness of your network. Weak ties are normally outside one’s inner circle and hence have a greater probability to give new information that your close relationship might not. The article then goes on to talk about the three degree of......

Words: 1245 - Pages: 5

Free Essay

International Business

...Brian Cash Wal-Mart Case Study International Business How has the implementation of NAFTA affected Wal-Mart’s success in Mexico? When NAFTA was implemented in Mexico, it was an almost immediate success for Wal-Mart. This was because they lowered and abolished the tariffs that Wal-Mart was required to pay prior to the implementation of NAFTA. With the lack of tariff fees, all of the Wal-Marts' in Mexico have been able to offer the “Every Day Low Prices” that we Americans are used to. The Mexican population has other retail options, but none offer the variety of products at the prices that Wal-Mart can offer them. Prior to NAFTA, Wal-Mart was having strong levels of success all over Mexico, but was taking a huge hit as it struggled to incorporate the import costs on the products it sold in the stores. In 1994, NAFTA was implemented in Mexico they were able to do a multitude of things. Firstly, they lowered tariffs from 10 to 3 percent on all American goods travelling from the United States into Mexico. (Daniels, Radebaugh, & Sullivan, 2013) At the same time they were also helping the government by encouraging them to improve its infrastructure. The improvements to subpar roads and the various routes delivery trucks utilized helped connect the logistical issues that plagued Wal-Mart and kept them from branching out into further enterprises within Mexico. The strategy worked and allowed Wal-Mart the ability to transport goods directly to the warehouse and...

Words: 1596 - Pages: 7

Free Essay

International Business

...International Business- Dr. R. Chandran 1. International Business: Meaning And Scope Interdependency is a natural phenomenon; nations, living beings and companies cannot totally depend on themselves. It is the major driving force for international business. Learning value: This chapter covers the essential aspects, 1. 2. 3. 4. 5. Definition of international business Emergence of developing nations in international business Motives of international business from companies and nations Fundamental differences between Domestic and International business Few successful organizations in Domestic & International business International business: Meaning and Scope In the post independence era, more than half-century Indian entrepreneurs concentrated on domestic operations and a surplus production was exported. The physical movement of goods, called EXPORT cannot represent International business. International business is defined as “any commercial transaction-taking place across the boundary lines of a sovereign entity”. It may take place either between countries or companies or both. Private companies involve themselves in such transactions for revenue, profit and prosperity. If governments are involved, they need to maintain their image, dependency and economic growth. Sometimes economic ties are strengthened through such transactions. These transactions include investments, physical movements of goods and services, transfer of technology and manufacturing. Today every......

Words: 70922 - Pages: 284

Premium Essay

International Business

...International Business operation In the process of International trade, the problem of cultural differences does rack many managers' brains. Have to say that it is a great challenge for all multinational corporations, especially for those just entering a market without experience. Whether it is an individual or a team can't avoid culture shock when they want to go abroad. For instance, I can't bargain when I want to buy a laptop in PC world due to language, let alone when I would like to sell goods. Whereas if a firm can learn and embrace target market's culture well, it will be able to understand the needs of those consumers deeply. This is not a short time to achieve the goal, managers need to show patience, initiative, sensitivity. The first method is to employ local people, the locals understand local consumption habits, festivals, religion, social system better than foreigners. So it is something we all take for granted: the locals can manage locals easier or build local ties better. In addition: Cultural exchange is a two-way process, after local employees working with foreign staffs, the locals can give suggestion to help foreign staffs to adapt faster. For example: There are two telecommunications companies want to expand business in U.S.. One is from India,another is from China.Indian company's U.S. division has been fully localized, senior staffs are almost all Americans, it has been deemed to come from behind...

Words: 2314 - Pages: 10

Premium Essay

International Business

...Question 1 Discuss the economic, political, legal and cultural factors in the Macro environment and the supplier, customer and competitor factors in the Micro environment you might need to consider when reviewing new international markets prior to entry. Answer: Political 1. The political system of a country shapes its economic and legal systems. Therefore, we need to understand the nature of different political systems before discussing economic and legal systems. By political system we mean the system of government in a nation. Political systems can be assessed according to two dimensions: 1. The degree to which they emphasize collectivism as opposed to individualism. 2. The degree to which they are democratic or totalitarian. Collectivism refers to a political system that stresses the primacy of collective goals over individual goals. When collectivism is emphasized, the needs of society as a whole are generally viewed as being more important than individual freedoms. The opposite of collectivism, individualism, refers to the philosophy that an individual should have freedom in his or her economic and political pursuits. In contrast to collectivism, individualism stresses that the interests of the individual should take precedence over the interests of the state. Democracy and totalitarianism are at different ends of a political dimension. Democracy refers to a political system in which government is by the people, exercised either directly or through......

Words: 6351 - Pages: 26

Free Essay

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

Premium Essay

International Business

...Retail organization internatinalization expension 4 4. International Expansion of Wal-Mart in Maxico,china and canada 5 5. Comparison of Entry Modes 6 6. comparison of Opportunities 7 7. Final touch 8 8. Conclusion 9 9.Bibliography 10 1. Introduction: Being present and having to enter foreign markets is for many companies natural, while for other it is a new challenge that they have to face. This challenge, known as market entry, consists of three major decisions: where to enter, when to enter and how to enter different markets. Some companies are forced to internationalize in the early stages of their life due to small saturated home markets, while other companies choose to go abroad because of the great opportunities new markets might bring (Peng, 2006). Once deciding to go abroad and choosing the target market and timing, companies' need to consider the choice of entry modes. Generally, to choose international firm there are six different entry modes: exporting, turnkey projects, licensing, franchising, joint ventures, wholly owned subsidiary (Hill, 2004). Each entry mode its distinctive characteristics (see, e.g., Hill, 2004; Hill, et al, 1990; Hill and kim, 1988; Anderson and Gatignon, 1986; Madhok, 1997; Brouthers and Brouthers, 2000; Bishop 2006. Selecting a suitable entry mode is a difficult decision for firms interested in entering a foreign market (Agarwal and Ramaswami, 1992). Sometimes, an international firm may use more than one entry mode......

Words: 5309 - Pages: 22

Premium Essay

International Business

...expand and franchise there. With faster communication, transportation and financial flows, the world is rapidly shrinking. International trade is booming. Imports of goods and services now account for 24% of gross domestic product worldwide. However, sometimes corporations fail to understand the culture of countries that they target as marketing opportunities, therefore not being able to market their brand successfully. Culture is defined simply as the learned distinctive way of life of a society. Each country has its own traditions, cultural norms and taboos. When designing global marketing strategies, companies must understand how culture affects consumer reactions in each of its international markets. In turn, they must also understand how their strategies affect culture. In the global marketplace, extension of products and services into foreign markets often faces unanticipated cross-cultural challenges involving consumer cultural behavior. For example: in Japan, “Diet Coke” was renamed “Coke Light” after the firm learned that the word “diet” carried an embarrassing connotation. A “blunder” is a careless mistake usually caused by a person’s ignorance, poor judgment or confusion. International marketing blunders represent avoidable mistakes made by companies in foreign markets. Many types of blunders result from ignorance of culture. If international marketers are misinformed about the cultural characteristics of a foreign market they may stumble into blunders. A simple......

Words: 1513 - Pages: 7

Premium Essay

International Business

...(Semester 7) | Course Details: | Course Name: | INTERNATIONAL BUSINESS | Course Code: | MTS 4013 | Lecturer's Name: | DR.MAZURI BINTI ABD GHANI | Assignment Details: Assignment 1 2 3 | | | Due Date: | 22ND NOVEMBER 2015 | Date Submitted: | 22ND NOVEMBER 2015 | PLEASE NOTE | All assignments are the responsibility of the student.Ensure you keep a copy of your assignment before submitting. | Declaration: | I declare that, to the best of my knowledge and belief, this assignment is my own work, all sources have been properly acknowledged, and the assignment contains no plagiarism. This assignment or any part thereof has not previously been submitted for assessment at this or any other University.Signature: (Representative) ……….………………………….. (Lavannya Moorthy)Date: 22ND NOVEMBER 2015 | | Table of Contents CASE STUDY 01: IKEA – THE GLOBAL RETAILER 3 Question 1: How the globalization of market benefited IKEA? 3 Question 2: How has the globalization of product benefited IKEA? 3 Question 3: What does the IKEA story teach you about the limits of treating the entire world as a single integrated global marketplace? 4 CASE STUDY 03 : DHM- Shanghai 5 Question 1: Why do you think that it is so important to cultivate guanxi and guanxiwang in China? 5 Question 2: What does the experience of DMG tell us about the way things work in China? What would likely happen to a business that obeyed all the rules and regulations, rather......

Words: 2336 - Pages: 10

Premium Essay

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

Free Essay

International Business

...Alternate Solutions No business decision can be taken without weighing all possible scenarios based on the business' strengths and weaknesses, and it becomes all the more important when it is international expansion. Therefore, it is imperative that we explore all alternatives and safe. The safest bet and tried and tested method would be to gain advantage in foreign markets, be it Israel or Hong Kong, is by exploiting capabilities first developed at home. This is also termed as capability-based model. With this, the firm can exploit local comparative advantage efficiently (as it exploited at home), to leverage its bargaining power across markets, and to arbitrage cost differentials effectively. (Tallman, 2009).  But then it is not so easy to copy and get the capabilities transplanted elsewhere in the global arena. Going from national to international is a whole new ballgame and there are lot of things to consider from preferences to culture. For any capabilities to be transplanted we need to know if these capabilities are relevant, appropriable and transferable to and whether a particular market is suitable for the successful positioning of home-market businesses, in this case Chick-fil-A. Therefore, in that situation, it is beneficial to create new capabilities. This is built through exposure to new markets, internalization of new concepts, ideas from new cultures, access to new resources, and exposure to new competitors, and terms of competition. (Tallman,......

Words: 805 - Pages: 4

Premium Essay

International Business

...peculiarities of the Chinese market, Danone initially introduced almost identical French products to the Chinese market, which results in failure since Danone’s products were too expensive for the average Chinese consumers and few people had no refrigerators to store fresh dairy products. Therefore, Danone needs a partner who understands the preferences of Chinese to offer locally adapted versions of products. Wahaha have knowledge about government laws and customs, along with networking relationship in Chinese business environment. Therefore, the formation of a joint venture can allow Danone to achieve improvement of efficiency that would be hard for it functioning alone to accomplish (Luthans and Doh, 2015). Secondly, establishing a joint venture can involve less costs and risks. After Danone’s core business in Europe suffered from the recession in the European economy, Danone need to adopt a rapid market entry approach that involves low cost to achieve international expansion (Hamilton and Zhang, 2012). Establishing joint ventures can help Danone lower its resource commitment to alleviate the risks. This middle-scale entry can enable Danone to understand a foreign market with limited exposure to threats (Hill, Wee and Udayasankar, 2012). Hence, a joint venture should be considered as a suitable entry mode by Danone. In spite of the advantages of joint ventures, the nature of shared ownership can inevitably initiate problems between participants. Firstly, differences......

Words: 2318 - Pages: 10

Premium Essay

International Business

...------------------------------------------------- Tips For Finding an International Business Internship Posted by Olga at Going Global on September 15, 2009 Choosing an international business degree with the hopes of landing an international career after graduation is no longer a surefire action plan for students. With the current economic climate, being proactive before graduating and doing an international business internship is the best course of action. The only drawback is that a majority of internships abroad fall out of the private sector. No to fear. Business students are armed with all the necessary tools to get a business internship abroad. Here are some tools and tips to add to your search: Photo by geishaboy500; creative commons license. 1. Identify large multi-national corporations that have their headquarters or subsidiaries abroad. Find the companies that are best suited to build your work experience. Use resources like Wikipedia and Google to identify these corporations. Large names like, Sony, L’Oreal, Unilever, Shell, etc all have offices in multiple countries. Start by identifying those larger names and work through their website for internship possibilities. 2. Investigate opportunities with Consulate Offices abroad. The Consulate Office functions just as any other business would with the exception that they are representing a country rather than any business in particular. Start by checking the State Department website. Depending on the......

Words: 856 - Pages: 4

Premium Essay

International Business

...benefit offered for sale that is essentially intangible and does not result in ownership. Brand experiences: “. . . dazzle their senses, touch their hearts, stimulate their minds.” Marketing Myopia: The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products. They focus more on the wants and lose sight of the needs. Customer value and satisfaction: Care must be taken when setting expectations: If performance is lower than expectations, satisfaction is low. If performance is higher than expectations, satisfaction is high. Exchange: The act of obtaining a desired object from someone by offering something in return. Relationships: Marketing actions build and maintain relationship with target audience involving an idea, product, service or other object. Market: The set of all actual and potential buyers of a product or service. These people share a need or want that can be satisfied through exchange relationships. Modern Marketing system: Suppliers Company Marketing intermediaries Consumers Competitors Major environment forces can effect each element. Marketing Management: The art and science of choosing target markets and building profitable relationships with them. * Requires that consumers and the marketplace be fully understood. * Aim is to find, attract, keep, and grow customers by creating, delivering, and communicating superior......

Words: 3718 - Pages: 15

Free Essay

International Business

...Vernon's model. Although its validity for the explanation of the behaviour of modern multinationals may be questioned, this article spawned much of the empirical literature on international business. Answer Two Multinational enterprises are different from companies that confine their activities to the domestic market. A multinational enterprise (MNE) is a firm headquartered in one country with operations in other countries. Why would firms consider becoming a multi-national enterprise? Please describe fully a typical internationalization process for a firm producing a standardised product. Firms become multinationals for a number of reasons. Some of these include the following: (a) a desire to protect themselves from the risks and uncertainties of the domestic business cycle; (b) a growing world market for their goods or services; (c) a response to increased foreign competition; (d) a desire to reduce costs; (e) a desire to overcome tariff barriers; and (f) a desire to take advantage of technological expertise by manufacturing goods directly rather than allowing others to do it under a license agreement. Under the premise that foreign markets are risky, companies expand their operations abroad incrementally and cautiously. Setting up a wholly owned subsidiary is usually the last stage of doing business abroad. A typical internationalization process for a firm producing a standardized product might begin with a licensing agreement: a contractual arrangement in......

Words: 8082 - Pages: 33

Bastards | Beste Ergebnisse | Nick Roux