International Business Challenges and Opportunities
Added on 2020-06-04
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International Business
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1History of the company..........................................................................................................1Business activities structure: .................................................................................................2TASK 2............................................................................................................................................3Key business drivers behind company’s expansion in the UK..............................................3Important barriers to trade and protectionist policies related to new venture.......................5Ethical, social and legal issues that are required to be taken into account.............................7Cross-culture issues that are relevant to the proposed venture...............................................8TASK 3............................................................................................................................................9E-commerce option versus other methods of expansion........................................................9Aspect of international marketing relevant to the proposed venture......................................9Potential impacts of Brexit on new venture.........................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONInternational business is a platform where most of the companies want to invest theiramount in order to expand their operations. The other aspects of doing this are to operate allthose commercial transactions that occur among two or more than two regions and country.However, globalisation has made positive effect in every business those are operating in globalmarket. It is possible for companies to operate in various types of markets where opportunitiescan be found more for performing better operations. As a global business consultant for anupcoming SME company “Rahat Continental Limited” a well organise research is needed to beconducted for the purpose of increasing scope of their business (Cadogan, 2012). This project report covers various aspects such as different contemporary issues thatareassociated with the organisation. Identification of international business functions based on21st Century trends. Some useful methods that would help companies to enter into internationalmarkets will be needed to be implemnt. Examination of crucial facts about internationalise andalternatives techniques of markets are discuss under this report . Further, this report determinesthe cultural impacts on domestic as well as global markets.TASK 1History of the companyThe term international business is associated with every business event that is taken intoaccount in order to expand in global market. It is crucial for the firms to serve a large number ofcustomers and lead to increase in overall satisfaction stage of customers. It consists of variousaspects such as export of products and services, providing license to develop products in the hostnation, opening a joint venture with other company and so on. In order to expand their e-commerce business in the UK market, it is vital for ‘Rahat continental limited’ to considerdifferent factors that can directly affect its operations at international level. Their efficiency isthe primary aim which would be retained by making a proper analysis of customers’requirements and their demands (Stahl and Tung, 2015). Further, there are some other challenges that exist at the international level because ofwhich company cannot be able to act against all those hurdles that are coming in their ways. Themain objective of market research is to provide all relevant information to “Rahat continentallimited” to solve various marketing implications that a business will mostly face as internal level1
of their business planning. In fact, strategies like as market segmentation which is required todetermine particular group within a market that can easily be able to grab crucial opportunitieswhich is been delivery by new e-commerce venture. Another one is product differentiation whichis necessary to develop an identity for a specific product and service that is being offered bycompany. Successful business is having an extensive information of their customers as well ascompetitors. Market research is a procedure of collecting data which will assist the firm tobecome aware about how company hope to sell their products. The primary motive is to identifytheir reactions about their present as well as potential goods and services. In this part of researchwork, it is vital to make use of correct research analysis that can provide more appropriateinformation about the demand of customers (Bordo and Helbling, 2011). As company wants to make expansion in the UK market by offering organic cotton wearfor infant, this would be an attractive idea that can help them to gain maximum attention ofpeople as well as local government. Before setting any new business as mentioned in the case, itis crucial to make proper analysis of marketing opportunities and issues. With the help of wellorganised marketing research which specifies that data is needed to address these problems anddesigns the method for collecting vital information so that perfect products can be delivered tothem. The process and results of sales forecasting is creating more common interest betweenbusiness managers. By corporate planning and proper investment proposal, these problems caneasily be resolved.Extensive market research: It is known as well effective research strategies which areoften used in order to attain market penetration with making data regarding product base line. Itis also said to be opposite of selective distribution. Reliable and up-to-date information isrequired to be gathered by the help of market research that can create high value to a business. Itis the only way to make product reach to the respective customers as well as gain maximumadvantages over other competitors. Likewise, there are various reasons in the present scenario tocollect potential benefits by selling attractive products over e-commerce (Meyer and Peng,2016).Business activities structure: Expanding business overseas means that reaching to new customers and potentially boostthe benefits collected after selling of organic cotton wears. Before conducting business on2
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