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New Zealand International Business Analysis

   

Added on  2019-11-26

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Running head: International Business 1International BusinessReflective Journal
New Zealand International Business Analysis_1

International Business 2Reflective JournalExports play a significant role in the New Zealand economy as it has a key role in influencing the level of employment and economic growth as well as the balance of payments. The liberal policies, reduced taxes and tariff, lower transportation costs and globalisation have resulted in strong market share of the New Zealand exports (Aggarwal and Urata, 2013). From the vast research and insights about the New Zealand exports and the foreign investments, I have also developed the notion that there is large dependency of the nation of its exports. From the insightstaken, I have identified that the Free Trade Agreements play an important role and offers numerous benefits to the New Zealand in trading with other Asian countries. As per my viewpoint and critical analysis, there are huge benefits of participating in the FTA as it offers benefits such as cementing of diplomatic and political toes among the signatories, participation of the voters and domestic lobbies and enhanced economic welfare (Kawai and Wignaraja, 2011).From the first essay written on the international business of New Zealand and massive exports to China, it can be said that there are strong relations between China and New Zealand as since the last decade there has been observed a sudden increase in the percentage of the exports from New Zealand to China and it is a strong way of fetching increased revenues and profits (Kelsey, 2015). But I have also realized atht the cultural aspects also play a vital role in the trading between two different nations. It is not only the business but in our daily lives also if we have a conversation with our friends, mates or relatives residing in different nations, we realize that there is a lot of difference in their culture and sometimes the language also occurs as a barricade. In a similar way, there are issues in the international business too when it is between two nations which are culturally diverse, there is a need that the international managers must mange those issue with an effective cross-cultural training. I have also learned that while engaging on any sortof international business in future, I must attain complete knowledge of the overseas nation and its cultural aspects so that it does not act as a barricade in my business functions. From the second essay written on benefits and drawbacks of the FTAs and the current improvements made, it can be said that Free Trade Agreements are of significant importance in the international businesses as it helps the nations in having more improved trading and exchanging business operations with proper regulation, laws and policies governing each and
New Zealand International Business Analysis_2

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