Global Business Aspects: Protecting IPRs, Business Functions, National Culture, Entry Strategies, and Global Strategies

This report discusses the different aspects of global business, including protecting IPRs, managing business functions, the influence of national culture, entry strategies, and global strategies. It focuses on Browns Brook Street, a fashion store based in London, and its expansion into the international market.

Global Business
Aspects

Table of Contents
1. INTRODUCTION.......................................................................................................................3
2. Protecting Intellectual property rights in globalized economy.........................................3
3. The management of business functions internationally.....................................................4
4. The influence of national culture internationally...............................................................4
5. Evaluation on entry strategy.................................................................................................5
6. Recommended global strategy..............................................................................................6
7. CONCLUSION............................................................................................................................7
NOTES............................................................................................................................................9
REFERENCES..............................................................................................................................12

1. INTRODUCTION
International business involve the transactions that are formulated and move out across domestic
boundary to fulfil the goal of particular employee, organization and industries. The organization
which has chooses in this report is Brown Brook Street. It is uniquely sets environment that
blends their extraordinary service with creativeness and new technology to offer their visitors an
exceptional experience like no other boutique can give them (Acharya and et.al., 2021). In this
report as discussed the Four IPR's
Trademark IPR is used by Brown Brook Street. Four business functions also mentioned in this
report and impact of national culture influencing internationally. Strategies which helps business
to take it on the global level.
2. Protecting Intellectual property rights in globalized economy.
There are some IPR's which is discussed below:
 PATENT- A patent is a property right for a stakeholder that is generally permitted by a
government authority. The patent grant creator only rights to the innovation, which could
be design, activity, a betterment or physical conception such as machine.
 Copyrights- A copyrights give writers and Makers an original substance, with undivided
way to use, version and same matching of particular organization's material (Telukdarie
and et.al., 2018.). A copyright is expressed that the original creators can give anyone
authorization through legal document agreement to use work.
 Trade Secrets- A trade secret is an organization's procedure or pattern that is not open
information, which provides a system profit or benefit to the company or bearer of the
trade secret. Trademarks- A trademark is a symbol, that is identifiable and express a thing that
legally detached it from other product. A trademark is solely allotted to a company,
which means no one can use or copy it.
The Brown Brook Street is using intellectual property rights is Trademark. This fashion
boutique has symbol which helps to express the right which is allotted by government and no one
can use their symbol to another brand.

3. The management of business functions internationally.
A Business function refers to the several activities performed by an organization, these
activities separated into various functions and departments. There are four business functions
which is discussed below:
 Manufacturing and production- Manufacturing and production is one of the main
business function which uses resources to manufacture the goods and services offer by
them to the consumer market (Sloman and Jones, 2017). Brown Brook street is well able
to maintain their production and manufacturing and they always make sure that the
products and services are better from another companies.
 Sales and marketing- The sales and marketing department is responsible for product
development, new market trends and advertising (Amassoma, Ogbuagu and Niniola,
2020). Brown Brook Street always allow their market department to get important data
through market research and identify the competitions in market and need of consumers.
 Accounting and finance- The accounting and finance department are dealing with
managing money within the Brown Brook Street to preparing its budgets and costs
allocating. It is used to identifying errors and frauds, to avoid the loss and to ensure about
changing in policies and regulations.
 Human resources- Human resource department has responsibility to manage its staff of
Brown Brook Street. With the help of recruiting and selection process the human
resource helps Brown Brook Street to finding out the right staff with skills. They ensure
about for straining of the new staffs and encourage them to be more productive.
4. The influence of national culture internationally.
There are few points which included in the impact of national cultures in the globalization
markets are:
1. Communication- A communication is a important function for international business.
Sometimes a good communication can be the fluctuation in succession and
disappointment in a new market (Busroh, 2018). Effective communication is especially
important for international businesses because if the organization do not know the culture
of that country their communication can be a reason for the loss in the business. Brown
Brook Street must have surveyed about the local culture deeply before offering a product

to consumers. Because every marketing publicity has done to promote the product such
as, communicating product characteristic to the consumers and influence them to buy it.
2. Attitude- Organization need to be ensured that several cultures has different knowledge
for businesses (Weinstein and Lewis, 2020). Traditions in the countries can be belief of
comparative status and respect for higher status and are reflected in the organization.
There is a very clear for Brown Brook Street for structure and the different ethical
attitude towards governance that can make it challenging defining role in international
teams.
3. Etiquette- The mode of behave is some other important situation to believe in global
businesses when communication with co-workers and customer whether they are from
another cultures. Workplace etiquette in Brown Brook Street refers to the cultures which
means, they know about the workplace conflicts, concepts and policies and employees
working hours. While some organizations may believe patents s that long hour of
working may indicate the seriousness in employees and focussed on goal
accomplishment.
5. Evaluation on entry strategy.
There are some market strategy which are discussed below:
 Joint Ventures- A joint venture means the partnership between national and
international company. The partners which have equal right in the organizations by
investing the money, sharing the professional relation, sharing the same authority and
equal control on the organization. Generally, the other Firm's partner, give proper brief
about the new market, organizations link and new networks (Hallikainen and Laukkanen,
2018). Approach to other country's factor of business like land and regulative
cooperation. Joint venture need a bigger commitment from the companies than other
techniques.
 Exporting- Exporting means sending products, which manufacture in one country and to
sale them in another country. Exporting has a secure plan of action that businesses find
the best way to absorbing for different reasons. Developed products in a national market
may find new growth expectation in international market as well. Some organizations
observe it secured and more profitable to export the products. The companies that face

different national condition that might be determined their content in abroad to balance
out different conditions in their overall streams.
 Franchising- Basically franchising as a fair launching style that can be represented the
type of licence agreement. It means that a company wants to move into outside the
country for better growth rapidly with a proper and quality of assets. In the element of
natural licence procedure and a company gives them resources with the planning,
equipments, organization and selling of a proper business concern.
 Licensing- Under licencing agreement, a firm supply goods to a foreign firms by
allotment of companies to the accurate use of the retailer's production process, trade
rights and sales skills in return for cost (Haurand, 2022.). The retailer change a competing
benefit in the agreement, while licensor assume low price access to new market. Direct investment- International organizations might be selected to move in full measure
production and selling abroad by immediate investment in entire accessory. As opposing
the formerly introduce new strategies of entry. The new entry outcome in an organization
immediately started producing and marketing accessory abroad.
The Brown Brook Street is using joint venture entry strategy. There will be the
partnership between domestic and foreign firm, where both the partners will invest money in
same proportions (Krummel, 2022.). This is very riskier for them but as well as flexible too, both
the partners can equally put their time and value to the firm. Joint venture helps them to expand
their business quickly and only in some time.
6. Recommended global strategy.
There are some recommended strategies which are mentioned below:
1. Multi domestic strategy- A multi domestic strategy manufacture good and produce to
the specific situation the country. An organization with a international method, total
governance is focused in the national country but the specific country director are given
liberty to introduce new change (Kumar, and Al-Ausi, 2022). Companies forfeit scale
ratio for sensibility to local situations.
2. Transactional strategy- This strategy has combination of a normalization strategy and a
internationalization strategy. This strategies used when an organization faces important a
loss and pressure from another country's rival, but they offer the best production that
meet national client needs as well.

3. Standardization strategy- This strategy is also called normalization which is used when
an organization behave with the entire country as one marketplace with small significant
modification. This hypothesis is that, the goods can meet the need of the people in the
country.
4. Export strategy- This strategy is use when an organization mainly adjusted on its
national operations (Worthington, Britton and Thompson, 2018 ). It does not absorb to
grow world-wide and export the products to take benefit of global opportunities. It does
not attempt to customize its products for international markets.
This strategy which has chosen by Brown Brook Street is Standardization strategy is
used. In this strategy it refers that some machine tools and equipments they need to improve the
boutique (Nam, 2018). Large companies are also using this strategy which is not customized for
the local users.
7. CONCLUSION
In this report it concluded that the Brown Brook street expanding their boutique to another
country. Some IPR's helps them to secure their business rights with the permission of
government (Ruiz-Real and et.al., 2018). Business function helps Brown Brook street to
knowing the condition of their boutique and some strategies which helps them to make proper
decisions. Influences of national culture internationally also helps them to know the situations
which have an impact globally. The role of WTO and discussed the differences between
domestic and international business also mentioned above. The benefits and barriers which is
face by an organization to expand their business.

BROWNS BROOK STREET
INTRODUCTION
The poster is based on Browns
Brook Street which is a fashion
store based in London. It will
explain the different factors that
are related with international
business environment. These
activities are assessed in the poster
in order to gain better knowledge
of the different aspects which are
crucial for a successful expansion
in the international markets.
Drivers behind
globalization
Technological drivers
Technological advancements in the
industry are one of the primary
reasons for the business to expand
in different markets and gain
competitive advantage (Aguilera
and Grøgaard, 2019). It is crucial
for the organization to transport
their products by using
commercial aircraft and ships that
are developed with the help of
technology.
Political drivers
The liberalized rules and
regulations may reduce the tariffs
and duties which are imposed on
the global business. It is a crucial
driver as it provides better
opportunities for the company to
expand successfully.
Benefits and barriers of
internationalization of business
Benefits
Increasing customer base of business
International business is helpful for organization as it
increases the customer base of the organization in the
industry which is crucial in order to gain better
competitive advantage. This aspect may help the
business to enhance the engagement of customers
towards their products and improve their experience
(Cavusgil and et.al., 2020).
Access to skilled talent
The organization is able to recruit highly talented and
potential clients from different labour markets which
is crucial in order to improve the quality of products
that are offered by the business to their customers.
Benefit of foreign exchange
The different currencies that will be received by the
business from the global business may help the
business to get better opportunities for growth.
Barriers
Language and cultural barriers
The differences in the languages and cultures of
different countries can act as a barrier for the
business to operate in the global business
environment. It may put pressure on the business to
conduct their daily business activities smoothly.
Trade restrictions
The laws and legislations are different in various
countries that may have a negative impact on the
trade activities of the business in the international
business environment. These aspects may restrict the
flow of products in nations and act as a barrier to the
company.
Market drivers
The domestic market starts
becoming saturated at a
certain time which is a
driving force in order to
expand the market share of
the business in the global
business environment.
Cost drivers
Costs of different products
vary at certain places
which is a driving factor
for the business as they
can increase their
profitability from this
situation and benefit in the
global environment.
Differences between international and domestic
business
 The international business is operated worldwide while the
domestic business is restricted to its geographical boundaries.
 The buyers and sellers of a domestic business are situated in
the same country while they are situated in different countries
in the international business scenario.
 The customer base is low in the domestic business while it is
high in the international business environment. The degree of
risks is higher in the international companies in comparison
with the domestic business organizations.
 Domestic businesses trade in their respective local currencies
but the international business considers different foreign
currencies for conducting trade.
CONCLUSION
According to the above poster it has been concluded that the internationalization of business has a positive
impact on the development of a business organization. There are different drivers that are helpful in
motivating Browns Brook Street to expand their business in the international market for increasing its
customer base in the industry. WTO has a crucial role in facilitating the international trade and reducing
the barriers that frequently arises for the business.

NOTES
The part of World Trade organization in in global business
Negotiation of trade
WTO is helpful in facilitating trade negotiations between countries in order to provide an
appropriate structure for the agreement and reducing conflicts between the two parties. This
framework is helpful for a smooth exchange of goods and services for the businesses.
Implementation and monitoring
The commitments made by both the parties in different countries are then monitored by the
WTO after the negotiations are done. The impact of the agreements on the overall economic
development of their respective countries is also assessed by the WTO.
Settling disputes
Conflicts between the businesses in different countries are managed by the business in order to
maintain better relationships between them and avoid disputes (Sharma and et.al., 2020). Formal
actions can be taken on people which are created problems for trade in the global business
environment which is a major role of the business.
Building trade capacity
Special aid is provided by the WTO to developing countries for helping them to increase their
participation in the free trade with more countries. It is a major role which has a positive impact
on the sustainability of businesses in different nations and helps in improving their overall
economic stability.
Outreach
Outreach and lobbying activities are carried out by WTO across different counties for promoting
free trade. It tries to connect with various governments and reduce the barriers that are faced by
businesses.
Effect of trading blocs of international business
Trading blocks are considered as group of small countries which are geographically close in
certain regions which agree to collaborate and enable free trade among them.

These blocks are crucial for the international business scenario as they are useful in reducing the
costs, increasing export potential of nations, achieving higher growth etc. in the global business
environment.
They are useful to improve the foreign direct investments in the nations and engage more
investors to contribute in the development of the companies (Srivastava, Singh and Dhir, 2020).
Trade blocks have helped the nations to reduce the trade barriers which have a negative impact
on the free flow of products and services in different countries.
With the help of these trade blocks different geographically close nations are able to improve
their economic stability and gain better advantage in the international business environment.

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