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Business Essentials

   

Added on  2020-01-16

11 Pages3280 Words55 Views
Business Essentials

Table of ContentsINTRODUCTION...........................................................................................................................31. .................................................................................................................................................32...................................................................................................................................................53. .................................................................................................................................................64...................................................................................................................................................85...................................................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTIONEvery business has the main motive to increase its revenue and profit but thereis limited demand for the business in the domestic business environment and it has toface many issue such as market competition, lower margins etc. To grow the business itsees international business opportunities and with the help of globalisation it hasbecome easy for the company to do business globally the benefits of doing businessinternationally is that company can increase the scale of its operation and it can raisecapital easily as it has tap various countries so it can raise capital from the country withthe cheapest lending rate. However, there are many obstructions for the enterprise fordoing business globally due to various factors such as environmental factors,governmental factors, customer demand factors etc. Many internal factors also affectthe business and its environment such as leadership, cost of production etc. andexternal factors such as political environment, legal policies etc.1. It is very important for the organisation to do proper research and analysis of thecountry before entering into any country as the political factors, legal policies, per capitaincome, growth rate of GDP etc. plays a key role in deciding that in which country,company has to enter so that the performance of the organisation can be enhanced.Marvin and Smith coffee shop wants to expand its business within European Union.European Union is a union of 28 member states having no economic barrier betweenthem (Beamish,2013). Marvin and Smith could expand its business in Germany due tothe following reasons:The government of Germany is very open for the new business ventures and itdoes not matter that whether the business is established by there own residentindividual or by any foreigner.

The border of Germany is attached with 9 other countries such as Austria,Belgium, France, Netherlands etc. so many people from those countries caneasily visit Germany which provide greater business opportunities for thebusiness conducted in Germany. Germany has very assess from UK(Cavusgiland et.nt. 2014).Germany is the largest economy in Europe with the GDP of approx. 3.73 trillionUSD though its GDP growth is constant and it has a per capita income ofapprox. 43000 USD which is in top 20 of the world with less than 5%unemployment rate(Hofstede and et. al., 2010). Germany is also known for itsengineering and automotive industry.The climate of the Germany is cold which is in the favour of the coffeedrinking .i.e. the people of Germany loves drinking black coffee in various partsof Germany i.e. Berlin, Hamburg (Penrose, 2013) The coffee market of Germany is second largest in the whole Europe and it isgrowing at around 15%. Coffee is most drinking beverage of the Germany.The political environment of the Germany is very stable and there is very lessterrorism activity as compared to other countries such as France(Hynes, 2010).The consumers of Germany have a demand increasingly higher for coffeequality and they are very keen to try out new drinks which gives greatopportunity to companies like Marvin and Smith to set up there shopsthere(Anderson, Sweeney and Williams2011).There is very less trade barrier between between Germany and UK along withgood connectivity between London and Berlin. So Marvin and Smith has theadvantage when the business can be set up in the Germany. 2.Marvin and Smith is an coffee shop based in London. They want to expand itsbusiness into new geographies such as Germany. To be effective in the new market thecompany needs to implement the marketing mix properly(Coskun, Ozdenizci and Ok,2013). Following are the 7P's of marketing mix:Product: It is a very essential element of the Marketing mix as it directly relatedto the product and the service provided by the company. To attract customers in

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