Global Business Aspects: Entry Strategies, Intellectual Property Rights, and National Cultures

This report discusses various aspects of global business, including entry strategies, intellectual property rights, and national cultures. It focuses on New London Cafe, a local company in the UK, and its current market. The report also assesses appropriate global strategies for the company.

Global Business
Aspects

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
TASK 2 ...........................................................................................................................................1
Explain of the local company and its current market .................................................................1
Protecting Intellectual Property Rights in a globalised economy...............................................1
Managing business functions in an international context...........................................................2
Explain the impact of national cultures in international markets................................................2
Entry strategies in international market .....................................................................................3
An assessment of appropriate global strategy for the local company.........................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
It is identified that in order to expand in the international market there are various factors
which need to be determined by the organisation in order to promote its products and services in
the international market. There is various aspect which need to be kept in mind for the
globalisation. It is very important to manage the various business functions in order to function
in international market. The international market has the different perspective from the other
countries where the organisation has its business in home country. This is the report which is
based on the local company which is New London Cafe. The cafe offers variety of food products
such as coffee, piazza, burger, sandwiches, mock tails etc. (Ahmad and Premaratne, 2018). this
report will include about various topic such as introduction of the company, intellectual property
rights, different business functions, impact of national cultures, entry strategies and at last global
strategy.
MAIN BODY
TASK 2
Explain of the local company and its current market
The organisation which is chosen or this report is New London Cafe which is situated in
United Kingdom. This is the local company which is situated in the main streets of London. The
cafe is famous for its interior of the vintage designing in order to attract customers. This is the
famous cafe in London. The company is targeting the youth for its current market. As in context
of the business organisation the current market is strong because of the quality of products and
services which the company offer t its customers. It is very important for the New London Cafe
to target the new market in order to expand its business (Bartley, 2018)
Protecting Intellectual Property Rights in a globalised economy.
There are various aspect which need to be considered by the organisation in order to
globalise in the effective way. There are certain intellectuality right which need to considered
which are discussed below;
 Patents- this is the most important aspect for the company in order to have patent right
over the business organisation so that the other person cannot copy with the name or
method of the production of the organisation.
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 Copyrights- It is very important for the organisation to have a copyright on the products
and services in order to have a legal authority over the products or services.
It is very important that the company . (Borchardt and et.al., 2020)
Managing business functions in an international context.
There are various business functions which need to be considered for the organization in
order to expand its market in the internation. There are various business functions which is
disused below:
 Sales and marketing- this is the function where the marketer need to look for eth
strategies in order to promote its products or services internationally in an effective and
efficient way.
 Production- this is the another function where the organisation need to conduct its
production and operation in order to product the product with the best quality so that the
customers are attracted.
 Human resource management- This is the main function of the organisation which
need to be managed by the people in order to conduct the business operations within the
international market. The human resource is the main key to conduct the business
operations.
 Accounting and finance- - this is the another function of the organisation where need to
perform the different activities in order to manage the accounts the the financial resources
of the organisation in order to expand its market.
All the above discussed functions are equally important for the New London cafe in order
to expand its business sin the international market. This plays a major role in order to attract
customers and function in the effective and efficient way. If the organization focuses on
managing the different functions it will able to achieve the goals and objectives in more effective
manner. This will help the company to grow in international market. (Chen, 2019)
Explain the impact of national cultures in international markets
It is identified that the national cultures can impact in international market which need to
be considered by the business organisation. The communication plays a major role in the
national cultures where there is different culture been followed which is hard to understand for
the marketers. The culture differences can impact in the international market. it is very important
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for the organisation to understand its international market and the culture which is followed in
which it is looking to expand its market. As the different culture can impact in the taste and
preferences of the consumers. This is most important in order to attract customers in effective
way. The national cultures can be different which need to be focused by the New London Cafe
and it need to consider the lifestyle of the people in order to produce the products according to
their taste and preferences.
Entry strategies in international market
There are various entry strategies which can be adopted by the New London Cafe in
order to enter in the international market which are discussed below:
 Franchising- this is the bee way in which the company can focus on expanding its
market in the intentional country. The franchising is defined as a process where the
business owner can sell the right to use the name and the products and services in the
other country in order to expand business sin an effective way. This is defined as an
effective strategy in order to promote services in international market.
 Licensing- this is the another entry strategy to international market where the company
can give license to the manufacturer in order to sell the products or services in the defined
areas. It is very important for the organisation to get a license in order to conduct the
business sin an effective and efficient way(Cunha and et.al., 2020)
 Joint venture- this is the entry strategy in international market where the organisation
can joint hands with the another party to function mutually for the benefit of profits and
promoting the business sin international market.
From the above discussed entry strategies it is suggested that New London Cafe can
focus on the Franchising as a entry strategy in the international market so that the company can
focus on delivery the best output to customers and increase its market share. This is the way in
which it can enter to the other country and earn profits. Also the company is well established
which will help in promoting its products in international market.(Cvetkovich, 2018)
An assessment of appropriate global strategy for the local company
There are various types of global strategy which are important for the local company to
consider in order to expand its market successfully which are discussed below:
 Multi domestic- this is the global strategy which focuses on the international marketing
approach which concentrates on advertising and commercial efforts of the local market in
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order to attract customers effectively and efficiently. This is the global strategy where the
organisation focus on developing the insights of the local market in order to know the
market area and expand the market in the effective way.
 Transnational- This is the another strategy where the companies focus on the
international market in order to gain the competitive advantage and increase its market
share with the valuable resources.
 Standardization- this is the another strategy when the business organisation trace the
whole world as a one market with little meaningful variations. This is defined as the one
product of the organisation can meet the needs and requirements of the people
everywhere. This is the strategy which is used by several organisation in order to expand
the market and keep the market know of the products or services.
 Export- This is the global strategy where the exports means that the company can market
its product in the international market in order to attract customers. The export Strathy
may include the products from the different countries.(Dauvergne, 2018)
CONCLUSION
From the above report it has been concluded that the it is very important for the business
organisation to considers various aspect for the globalisation in the other market. It is very
important that the cafe focus on different entry strategies so that it can enter to the new market
with the effective and efficient way. The company might face challenges for entering in to the
new market which need to be considered. There are several advantages of the internationalisation
of the company which can have benefited the organisation.
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REFERENCES
Books and Journals
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Bartley, T., 2018. Rules without rights: Land, labor, and private authority in the global
economy. Oxford University Press.
Borchardt, M. and et.al., 2020. The evolution of base of the pyramid approaches and the role of
multinational and domestic business ventures: value-commitment and profit-making
perspectives. Industrial Marketing Management, 89, pp.171-180.
Chen, H., 2019. A pilot study of business travelers’ stress-coping strategies. Tourism and
Hospitality Research, 19(2), pp.252-258.
Cunha, F.A.F.D.S. and et.al., 2020. Can sustainable investments outperform traditional
benchmarks? Evidence from global stock markets. Business Strategy and the
Environment, 29(2), pp.682-697.
Cvetkovich, A., 2018. Articulating the global and the local: Globalization and cultural studies.
Routledge.
Dauvergne, P., 2018. Will big business destroy our planet. John Wiley & Sons.
Zavyalova, E., Studenikin, N. and Starikova, E., 2018. BUSINESS PARTICIPATION IN
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DEVELOPMENT GOALS IN COUNTRIES OF CENTRAL ASIA AND THE
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Zhu, S. and et.al., 2018. How supply chain analytics enables operational supply chain
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