Understanding International Business Research

The assignment focuses on the significance of contextualization within international business research. It argues for the need to incorporate more context-specific analysis and provides guidance on enhancing the practice of contextualization in this field of study. The document draws upon various academic sources, including journal articles and books, to support its arguments.

International Business

TABLE OF CONTENTS
INTRODUCTION....................................................................................................................... 3
TASK 1 ...................................................................................................................................... 3
TASK 2....................................................................................................................................... 5
TASK 3....................................................................................................................................... 8
TASK 4...................................................................................................................................... 10
CONCLUSION.......................................................................................................................... 12
REFERENCES.......................................................................................................................... 13
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INTRODUCTION
Global business environment is the strategy that helps firm to expand its operations in
worldwide market. However, it comprises of different transactions that takes place between two
or more regions and countries across political boundaries. It is significant for entrepreneur to go
beyond local market and thus maintain their presence in international market so that success can
be attained in the form of increasing customer base and high revenues (Beamish, 2013).
However, creating a strong international presence is not easy and thus companies are required to
develop effective international business strategy so that they can compete with the available
competition and thus effectively enter the foreign market.
In the present study, Emaar Properties developer in Dubai is a real estate development
company situated in Dubai. However, company operates its business internationally providing
property development and management services in different countries such as Middle East,
North Africa, Pan-Asia, Europe and North America. Company is one of the largest real estate
developers in UAE and also known for its various large scale projects such as developing Burj
Khalifa and The Dubai Mall. The study consists of different tasks related to international
expansion of Emaarr properties in Australia where firm is planning to build different properties
for both residential as well as commercial (What is Globalisation. 2016).
TASK 1
The selected organization for carrying out the study upon international business is Emaar
Properties which is a real state developer and thus builds various projects in UAE, Dubai. Emaar
is a public joint stock company and also listed on the Dubai Financial Market with the name of
DFM EMAAR. Also, business is focusing upon developing operating its services in international
market and thus provide property development and management services. Emaar is collectively
operating in 36 markets which involves Middle East, North Africa, Pan-Asia, Europe and North
America. Also, business is one of the largest real estate developers in the UAE and is known for
different large scale products such as developing one of the tallest building in world i.e. Burj
Khalifa. Emaar Properties carries out several projects worldwide and thus it develops the world
largest shopping mall The Dubai Mall. Therefore, it is the main reason of attracting tourists in
the country and thus enhance the revenue of government (Birkinshaw, Brannen and Tung,
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2011). Further, there are several international projects started by Emaar with the help of
different subsidiaries company developed its property development and projects in India,
Pakistan, Egypt, Jordan, US, Syria, Turkey and Saudi Arabia etc. Hence, all such development
helps Emaar Properties to expand its operations in international market and thus enhance firms
vision to achieve desired results.
Furthermore, in the year 2002, Emaar Misr an Egyptian subsidiary of Emaar Properties
completed its redevelopment of the Bibliotheca Alexandrina on the eastern harbor of Alexandria.
Company also developed various development projects in the year 2005 which is initially called
Cairo Heights that was later renamed as Uptown Cairo. Through developing such project it
includes an building up an area as a residential, commercial and recreational community.
Subsidiary company also starts working upon developing a tourist resort named Marassi in Sidi
Abdel Rahman which is located along the Mediterranean coast which involves a hotel with 3000
rooms and a golf course (Brush, 2012). Similarly, company also carries out joint ventures with
different companies operating in the similar field and thus carries out the operation in that
particular country. However, Emaar carries out joint venture with MGF and develops a portfolio
of projects in several destinations within India covering residential, commercial and hospitality.
With the help of such joint venture company carries out development of Hyderabad International
Convention Centre that manages a seating capacity of 4000 and possess the ability to expand it
capacity up to 6500 seats. Apart from this, company also possess different projects around the
globe in order to carry out world famous buildings and properties (Crucini, Kose and Otrok,
2011).
It can be recommended to Emaar Properties that they should expand their operations in
Australia and build various new projects so that opportunities can be attained. Choosing
Australia for its operations assists business to enter or trade within new country and thus it can
carry out its working through joint venture or merging with other property developing business
within Australia (Driffield, Jones and Crotty, 2013). First of all, firm is required to carry out
proper market research related to the development required and thus plan for building residential
and commercial building in order to improve trade within the country. As company possess wide
range of experience within property development sector therefore, it helps them to analyze the
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target country needs and then fulfill them in order to achieve business results (Forsgren and
Johanson, 2014).
Also, firm is exponentially growing in different regions and thus at this time planning for
international expansion helps them to enhance their business opportunities and achieve desired
goals. Thus, carrying out business expansion in Australia and develops residential and
commercial buildings for the Australian people helps in improving the sales and profitability
effectively and efficiently (Gilligan and Hird, 2012). Before starting the development it is
essential for the management of Emaar Properties to enhance their knowledge regarding the
property and thus identify the success of the property developers so that gaining proper
information about Australian Residential Property Development and thus achieve success. Thus,
selecting significant market is essential otherwise it affects the operations of firm and thus
results into huge losses. With the help of proper market research Emaar developers can gain
success and build innovative building in Australia which will gain attention of different people
living in the country and thus such expansion helps firm to achieve desired results (Peng, Meyer
and Meyer, 2011).
Hence, it can be assessed that selecting the country for developing the project is crucial
and thus it helps firm to either enter or trade within the target country, Emaar Property
developers targets Australia as the market in which residential building needs to be developed as
per the growing demand of people living in the country to own a well furnished house as well as
commercial spaces so that growth opportunities can be attained. However, with a good past
history of company by developing various buildings and properties any of the Australian
Property Development company will be ready to carry out joint venture with Emaar so that
project can be accomplished easily (Schaffer, Agusti and Dhooge, 2014).
TASK 2
It can be assessed that international business just not only deals with cross borders but
they also carry out their operations in cross cultures. Culture consists of behavior which
influences that how people think, communicate and behave. Thus, it affects the different kinds of
transactions so that firm can easily negotiate them and thus differences in culture can be avoided
so that best results can be attained. However, cultural differences arises because of different
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diversity people working within enterprise and thus it affects their operations so that success
might be affected (Dunning, 2012). Also, it could be assessed that cultural is one of the crucial
factors that influences the Emaar Properties business expansion in international market.
Therefore, organization is required to assess the way in which business is conducted so that
expansion can be attained effectively and efficiently. Further, it can be stated that there are
different form of communication which varies between cultures, therefore, Emaar Properties is
required to emphasize upon different style and methods of communication so that effective
results can be attained. For instance, the Australian negotiators expresses disapproval which
often led to foreign business executives in regard to believe that their proposals were still under
the fact that it does not affect firm's operations in market (Buckley and Casson, 2010).
Also, it has bee evaluated that most of the international businesses like Emaar Properties
began their operations in foreign countries that are similar to their culture as well as their own
country. Through adopting cultural distance effect it helps in explaining that success of firm
depends upon the experience of firm in foreign country so that profits can be raised and thus
market share can be developed. Emaar Properties founds similar culture within Australia and
thus thinks of expanding their operations internationally so that results can be attained
effectively and efficiently (Chang, Van Witteloostuijn and Eden, 2010). There are different
cultural factors such as religion, belief, values and attitudes and language etc. which affects the
cultural dimension and thus carries out the business effectively in international market.
Further, globalization can be stated that it is the term that helps in building individual
culture into a worldwide perspective and thus build attractive buildings so that people can be
attracted towards firm. Hence, culture is considered as an effective tool that influences the
operations of international business so that set targets can be attained. For instance, Emaar
Properties is required to expand its operations in international market so that varied buildings
can be build as per the needs of people and does not affect the culture of people. Also, diverse
people work within company therefore, it should not discriminate among them so that it does not
affect the firms operations (Cantwell, Dunning and Lundan, 2010).
Here, Hofstede cultural dimension model has been implemented in respect to Emaar
Properties in regard to influence the way international business is conducted within market-
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 Power Distance Index (PDI)- It can be assessed that within such dimension it expresses
that the degree to which the less powerful members of the society accepts and expect that
power is distributed unequally. However, the main issue lies here is that how the society
handles the inequalities among individual (Birkinshaw, Brannen and Tung, 2011). For
instance, the people living in societies exhibits a large degree of Power Distance accepts
a hierarchical order in which it places the people at different levels. While, in societies
with low Power Distance index it assesses that people strive to equalities so that
distribution of power and demand justification for inequalities of power. For instance, as
compared among UAE and Australia it possesses great difference among people
possessing power distance index. Here, Dubai states lower than compared to Australia
where people possess high power index to take their own decision in relation to accept
the development done by Emaar (Welch and et.al., 2011).
 Individualism versus Collectivism (IDV)- It is another dimension of Hofstede culture
that helps in stating that individualism can be defined as the preference for a loosely knit
social framework in which individuals are expected to take care of only themselves and
their immediate families (Penrose, 2013). While, collectivism states that it represents for
a preference for a tightly knit framework in society and thus people collectively carries
out their operations. For instance, in relation to culture it can be considered as crucial
aspect because in Dubai people prefer to have collectivism culture because they follow
single culture while in Australia it follows individual culture and thus operations by
Emaar can be carried out effectively and efficiently (Mandelman and et.al., 2011).
 Masculinity versus femininity (MAS)- It refers to masculinity side of this dimension
which represents a preference in society for achievement and thus it refers to masculinity
factor in relation to gain rewards for success. However, society at large is more
competitive and thus it is essential for Emaar to expand its operations in Australia and
thus carry out its operations (Mumtaz, Simonelli and Surico, 2011). Also, femininity is
the factor that stands for a preference for cooperation, caring and modesty in relation to
weak and quality of life. In such type of culture it affects the people and thus firm is
required to develop its culture so that Emaar Properties can grow and achieve success.
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 Uncertainty Avoidance Index (UAI)- It assesses that the degree to which members of
society is required to make individual feel relaxed and comfortable and thus it affects the
operations of firm in market. Also, it is essential for Emaar developers to avoid the
uncertainty index so that it helps in maintaining the society in a more relaxed attitude and
thus practices effectively so that best results can be attained (Bordo and Helbling, 2011).
TASK 3
It can be assessed that Emaar is required to develop effective international business
strategy i.e. joint venture with another effective firm operating in the foreign country and thus
achieve desired results. Also, with the help of such strategy firm plans to expand its operations in
international market and gain success. For instance, business tries to enter into Australian market
and thus develop different properties for the residents so that both commercial and residential
buildings can be prepared in order to carry out different aspects of business such as marketing,
operations, human resources, product/service strategy etc (Papadopoulos and Heslop, 2014).
Also, it is significant for Emaar Properties to identify the market where they plan to expand so
that proper resources are required in relation to enlarge the business activities and thus revenue
can be enhanced of firm. With the help of implementing effective international business strategy
it is essential for firm to carry out the business with another similar firm and thus builds
attractive buildings and parks for people in order to achieve desired success. Emaar Properties
plan to expand its operations in Australia and thus carry out proper market research regarding
the builders interested in investing money into the new project so that construction can be
carried for building new residential as well as commercial building for the residents of Australia
(Mudambi and Swift, 2011).
Furthermore, developing the international business strategy helps firm to expand the
operations in international market and thus develop reputation of Emaar in foreign country.
Therefore, firm carries out operations in developed countries in order to gain potential resources
and work with effective manpower who are skilled in result to bring the best products for
consumers (Beaudry, Dupaigne and Portier, 2011). Adopting joint venture strategy helps Emaar
to enter into foreign market and thus adopts operations in an effective manner so that positive
outcomes could be generated.
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Joint venture is the strategy that helps in developing the business operations in
international market and thus take help of the local company that understands the needs and
wants of people so that set targets can be attained. Also, firm operates its business in
international market that helps them to enlarge the business activities so that desired results
could be attained. With the help of such strategy it assists business to extend the market
conditions and thus achieve desired outcomes (Luo and Shenkar, 2011). Also, it is crucial for
firm to develop different market conditions so that best quality products or services could be
delivered to business and thus it enhances the market growth and success in an effective manner.
Furthermore, implementing effective international strategy helps in improving the business
performance so that desired success can be attained. Thus, joint venture is an effective
international strategy which assists business to implement effectual tactics and thus carry out the
business opportunities in order to improve business performance (Aharoni, Tihanyi and
Connelly, 2011). Also, with the help of joint venture strategy it assists business to enlarge the
business activities so that diverse goals can be attained. Hence, joint venture will assist business
to carry out its operations with different company and thus mutually achieves desired targets.
It is essential for international business strategy i.e. joint venture to enter into foreign
market and thus develop different aspects of business so that success can be attained. Also, it
assists Emaar to identify different marketing aspects and thus provide opportunities for firm to
expand its operations and enter into Australian market (Hennart, 2010). It involves different
aspects that needs to be considered by firm while implementing international business strategy.
These are as follows-
 Marketing- It is essential for Emaar to develop its marketing strategies in relation to
build effective relationship with products so that sales of firm can be enhanced. Further,
it also improves the business opportunity in relation to achieve market growth and thus
set targets can be attained effectively and efficiently. Joint venture international business
strategy is required to formulate and implement effective tactics so that marketing
campaign can be developed in relation to enhance the sales and profitability of firm in
market (Ueda, 2012). Further, by improving the marketing tactics Emaar can develop its
product line in Australian market and enhance revenue.
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 Operations- Furthermore, it is another factor in relation to international business
strategy so that Emaar can carry out best operations in market and thus achieve optimum
results. Also, it is significant for firm to expand its operations in international market and
thus develop buildings in Australian market so that target market can be covered
(Czinkota and et.al., 2010). However, before operating the business in foreign market it
is essential for firm to expand its services in relation to improving the sales ad
profitability so that target market can be attained. Hence, it helps in improving the
success of business so that infrastructure firm of UAE can expand its operation in
Australia (McCann, 2011).
 Human resources- Moreover, it is best factor which involves within international
business strategy so that desired success can be attained. Hence, it helps firm to improve
the human resources in relation to achieve desired targets. Also, workforce is required to
be skilled and talented so that they can support to individuals in order to expand their
operations in market and thus enhance the sales and profitability (Michailova, 2011).
Human resources play a crucial role as it is essential for them to enhance their services
and thus effectively carry out best availability of products in foreign market so that target
base can be attracted. Thus, workforce assists in improving the business opportunities
and thus helps people to implement their best within firm so that Emaar Properties can
build their projects effectively (Treviño and et.al., 2010).
 Product/service strategy- It is another factor involves within international business
strategy so that Emaar can develop different product or service strategy and thus
implement effectively in order to achieve organizational goals. Also, it is significant for
firm to develop different product/service and thus provide effective services to them in
relation to enlarge the business activities so that success can be attained. Moreover, it is
significant for enterprise to build effectual resources so that best quality product or
service can be delivered to individual and thus achieve desired results (Conner, 2010).
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TASK 4
As per the opinion of Vendel (2013), it can be analyzed that implementing effective
strategy helps in achieving desired results so that success can be attained. Also, it is essential for
firm to develop international business strategy so that Emaar can attain desired success in future
course of time. Further, it is essential for firm to implement joint venture within Australian
market so that resources required could be developed in relation to achieve success in the form
of success (Vendel, 2013). Hence, implementing effective international business strategy is
crucial aspect as it assists in carrying out the relevant approach for future operations so that
success can be attained in an effective manner. However, argued that Beamish (2013), Emaar
Properties identifies the potential market opportunities in Australia market and thus develops
planning for carrying out operations in that country so that success can be attained in the form of
building innovative buildings. With the help of joint venture business carries out operations in
order to develop a positive sign for firm and achieve desired success. It helps Emaar Properties
to develop their planning and thus build innovative buildings so that people could be attracted
towards the new venture (Beamish, 2013).
Dunning (2012), stated that international business strategy requires developing effective
opportunities for firm to carry out joint venture with other local businesses in the foreign country
where firm is planning to carry out its operations and thus achieve desired targets. Furthermore,
it can be analyzed that international business strategy is required to be implemented in different
manner and thus provide an effective approach to firm so that set targets can be attained
effectively and efficiently. For instance, it is crucial for business to develop effective strategy so
that Emaar can obtain results in the future time period (Dunning, 2012). Hence, implementing
effective business strategy in the firm of joint venture will assist Emaar firm to carry out its
operations with other businesses and thus achieve desired targets.
The developed strategy helps in improving the business results so that success can be
attained in an effective manner. Also, it is significant for enterprise to evaluate that with the help
of implementation approach business is required to develop effective opportunities so that set
targets can be attained. With the help of such approach it is essential for enterprise to implement
the timeline for the next three years and thus desired success can be obtained effectively
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(Buckley and Casson, 2010). Implementation of international business strategy needs to provide
a timeline for the next three years so that goals can be implemented effectively and thus success
can be obtained in the form of success. Within the next three years Emaar Properties develops
effective international business strategy so that growth can be obtained effectively. Selected
business strategy i.e. joint venture will be implemented successfully for the next three years in
the form of identifying the strategy, implementing within enterprise and thus achieving desired
results in the form of success and growth. However, Emaar Properties will obtain results after
the successful implementation of strategy in the Australian market so that company can develop
its buildings and obtain success in the firm of improving market share and revenue (Chang, Van
Witteloostuijn and Eden, 2010).
However, it can be articulated that implementing business strategy helps in improving the
business success and thus results can be attained. It is essential for Emaar to develop
international strategy and thus joint venture helps in improving the business results and thus
achieve growth and success (Cantwell, Dunning and Lundan, 2010).
CONCLUSION
From the above study it can be conferred that business planning to expand its operations
in global environment is required to enlarge the business opportunities in different markets so
that sales and profitability can be extended. Also, it is significant for firm to identify the growth
perspective so that success can be attained effectively and efficiently. Hence, Emaar is required
to identify the growth opportunities so that business can expand its operations in international
market. Further, with the help of such international business strategy firm is carrying out joint
merger with Australian property developers and thus build residents and commercial buildings
for Australian people as per their demand.
Furthermore, Emaar is required to carry out joint venture with other businesses so that
they can enter into foreign market and thus expand its operations within the country. It helps
firm to enhance their sales and profitability so that desired success can be attained. Also,
management of Emaar Properties is required to implement the effective international business
strategy so that timeline for next three years can be developed which helps in achieving desired
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profitability index. Hence, through implementing the effective strategies it assists business to
expand and enter into foreign market and thus carry out trade opportunities.
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