Political Risks in Latveria

Answer:-1
Justified recommendation to Global Gear Ltd. for an entry mode to use when entering the
Latverian market.
According to the case study, it has been summarized that Global Gear Ltd successfully
developed an online website business to complement their physical retail outlet business. An
advancement of modern technology is helping the Global Gear Ltd. To enter into Latverian
marketplace. Initially, company is mainly focused on targeting the large population of Latveria
and provide the mattresses in low price or cost.
On the basis of evidence, it has found that Latveria uses Latverian Dinars as national
currency. In past decade, it has been identified the sharp fluctuation between South Korean won
and Latverian Dinar. So as, it is necessary thing that need to be consider by Global Gear Ltd,
when it is entering into Latverian market. But the most important aspect for Global gear Ltd, to
understand the demand of international marketplace. it has been rapidly changing, essential thing
is to justify the recommendation to the retailer for existing into entry mode, uses when entering
into Latverian market. Therefore, it has been justified the recommendation to Global Gear firm
as follows:-
Leverage Influencer Relationship in Latverian market- it has been suggested the retailer
to look for international influencer in Latverian market, those are interested in and develop a
good relationship with individual people. it is the best way to understand the specific demand of
consumers. Company would try to do research & development which means that understand the
specific demand of consumers. It make sure that build a strong network and use it to develop
innovative idea for targeting the interested audience.
As growing the relationship, retailer whether it make consider a good partnership with
other agency in order to expand the business in Latverian market. That’s why, Retailer can take
help for local community in regards of business expansion. An effective relationship will be
represented a unique key and help to achieve desirable goals.
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Assessing the capital- it is another kind of suggestion to the Global Gear Ltd, when they
were entering into Latverian marketplace. So as, it is very important for organization to achieve
all kind of financial oversees, It takes a long term financial plan, but sometimes it is not enough
capita, for initial investment. Therefore, it has been recommended that consider investment and
identify the right time or place. Afterwards, it may support for organization to expand business
successfully in Latverian marketplace
Conduct or hire a market research firm- it is one of the important point which may needs
to be recommend the retailer. In this way, company will consider market position and then enter
to find an experience candidate, reputable market research firm. This is because when it help to
overseas market which might have a hot. There is a large population of Latverian citizen attracts
towards product as well as services.
With the help of market research firm, Global Gear Ltd is able to decide whether business
will be received all targets or not. Market research firm is always helping global gear company in
context of business expansion. It enabling the business to explore current market needs and
achieve existing competition level.
Understand language barriers and culture- when entering into foreign market, Global
Gear Ltd face many obstacle, in regards of cultural difference and being one of challenging. But
it is not might have to adjust branding or marketing and appeal to the interested consumers
towards product those are belonging to different regions. The language barrier problem can be
resolved when company need to suggest, implementing the experience or local people who can
easily understand the language of Latverian citizen. In this way, it will be resolving the language
barriers and retailer will show positive respect for Latverian culture and a drive to keep growing
or expanding business.
In additional, it has recommend that retailer can use interactive language map that help to
identify the translators, in order to target the interested people where it can easily interact or
communicate and identify their preferences, demand and needs.
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Answer:-2
Define and discuss the different considerations that GlobalGear Ltd. will need to monitor in
Latveria relating to legal systems. Pay particular consideration to Rule of Man / Rule of Law
Legal system of the country has significant impact on operations of business which
ultimately determine success of the businesses expanding into international market. GlobalGear
Ltd. Has considered expansion of their business in Latveria and this is why it is required that
different legal factors and factors related to legal system are firstly considered and monitored to
avoid potential problems after expansion. Considerations that GlobalGear Ltd. need to monitor
includes-
Rule of Man- Rule of Man is concerned with a legal system in which rules in country are based
on rules. Rule of man is also known as absence of rule of law and it is also rebounded society
and rules in such society rules change on the basis of ruler and as ruler change rules of the
society or law of the society also changes. This can be applied in political context in which
change of politicians and parties in power changes laws and rules. This has very important
impact on businesses operating in the country. This is because in all other rules, rules operating
and affecting businesses are also included and as the ruler change these rules also change
affecting businesses. On the basis of these changes in laws and rules businesses have to change
bring change in their functioning. Monitoring this can help in developing policies and strategies
so that GlobalGear Ltd. can operate in different times.
Rule of Law- Rule of law is concerned with authority and influence that law has and is
considered as constraint on individuals and institutional behaviour. According to this all
members of government are considered equal for being subject to legal codes and processes that
are publicly disclosed. Rule of Law is predictable and in this every institution is considered equal
and everyone is treated equally on the basis of legal system. This is why unpredictable bias can
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