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Fame Pharmaceuticals: An Eco-friendly Company in Myanmar

   

Added on  2021-04-21

10 Pages2225 Words390 Views
Running head: INTERNATIONAL BUSINESSFrom Local to GlobalName of the Student:Name of the University:Author note:
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1INTERNATIONAL BUSINESSTask 1 Answer (a) (P2)Fame Pharmaceuticals is a well established company in Myanmar operating since 1994.The company specializes in providing natural and organic herbal products to the citizens ofMyanmar. The company actively promotes eco-friendly practices in their business operations tosupport the economic and cultural sustainability for the local farmers. Fame Pharmaceuticals aims to expand their business in the UK. The following analysis ofUK shows various factors that are suitable for international business.UK is relatively fair in terms of business regulations, with public influence on theworking system, proactive and politically stable government generating confidenceamong the international investors. Economically, UK is in a better position than Myanmar. It has world’s 5th highest GDP,only second to Germany in Europe (Mason and Harrison 2015). It has a big diversifiedeconomy with large private and public sectors that is drawing high amount of ForeignDirect Investment (FDI) every year from investors across the world (Feenstra 2015). Standard of living is very high in UK UK is one of the advanced countries of the world, and hence, it offers high qualityinnovation skills and expertise in IT and science, high level of international competitionto stimulate the growth and intellectual property protection laws (Barber, Metcalfe andPorteous 2016). UK has been contributing largely in environmental projects, which could provide a goodplatform for Fame Pharmaceuticals and its organic, natural and eco-friendly products.
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2INTERNATIONAL BUSINESSThe labor laws of UK contain many beneficial laws, such as, minimum legal wage, moregenerous maternity and paternity benefits, and reduction of discrimination in theworkplace (Keeble and Wever 2016). All these factors can are beneficial for international investors to expand their business in the UK.On the other hand, there are some factors that can restrict the investors from growing theirbusiness in the UK. Corruptions in the country that hampers the growth of the businesses to some extent.Recovery of the economy was slow after the global financial crisis and huge money isspent on giving free services to the public. There is increasing dependency ratio as the level of unemployment is rising, along withsome social unrest regarding the migration issue. The migration laws are being stricter which could create problems for the immigrants. Technological growth is quite slow compared to the other developed countries, such asUSA (Mansfield and Reinhardt 2015). Lastly, the economic uncertainty, emerged due to the Brexit referendum, has depreciatedthe GBP, which makes the business opportunities less profitable (Keeble and Wever2016). Answer (b) (M1)Trade between the countries can be increased by reducing the trade barriers, such as,reducing the impact and extent of tariffs and taxes on the imports, providing export subsidies andincreasing competitiveness in the global market. Policies with high tariffs and import restrictions
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