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International Business Assignment - JCB company

   

Added on  2020-01-28

15 Pages4965 Words195 Views
Business DevelopmentLeadership ManagementEnvironmental ScienceLaw
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International Business
International Business Assignment - JCB company_1

EXECUTIVE SUMMARYA global expansion mainly involves an export and import of products or services by mostof the companies which is of prior importance for successfully heading towards the competitivebusiness environment. International business enables the firm to globally expand their serviceswith a prior consent of diversifying its goods and products. The below report is in similar contextto define the expansion of JCB company with a need base determination of considering its variedrequisite approaches followed by a prompt strategic plan.
International Business Assignment - JCB company_2

TABLE OF CONTENTSINRODUCTION..............................................................................................................................1Factors to be considered by JCB for globally expanding their business................................2Critically evaluating the global strategy of JCB.....................................................................5INTERNATIONALISATION.........................................................................................................7RECOMMENDATIONS.................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
International Business Assignment - JCB company_3

INRODUCTIONInternational business is a term which is mostly used by the firm's in regard to specifytheir external transaction of goods and services. It thus comprises all sort of merchandiseexchange among two or more countries, regions and even nations by working beyond their legaland political limitations. It includes both public and private transactions with a prior consent oftheir governmental bodies and together of the region where they are running their expansionoperations. A global expansion mainly involves an export and import of products or services bymost of the companies which is of prior importance for successfully heading towards thecompetitive business environment (Ambos and Håkanson, 2014). However, it is an equivalentchallenging task for the firm where it also needs to face numerous and varied challenges orissues in enlarging their business into some uncharted arena. It is due to a fact in which they aresupposed to cogently work outside their own domestic area for prosperously achieving thedesired result of attaining a recognisable position in an unknown area. Therefore, it is largelyrecommended to the firm's for working with a prominent approach of primarily mapping the areawhere they are planning to expand their business operations (Tucker, 2011).It can be therefore done by promptly studying their prevailing market condition andstrategies. It will further signify their ongoing action plan of successfully running their businessactivities into that particular area. The provisioned company will then together be able todetermine their recent trends and demands that are too likeable by their clients and customers.Accordingly, the provisioned firm will be also be able to build their individual strategic plans ofexpansion by using a differentiated approach of their own (Child, Faulkner and Tallman, 2005).The present report is in similar context to identify an exact need and importance of globallyexpanding one's business with a prior obligation of facing varied challenges by together findingsuitable resolutions for overcoming them. In this report, J.C. Bamford Excavators Limited (JCB)has been taken into consideration for planning its varied strategies to globally expand itsbusiness. It also reflects the need base recommendation of overcoming various barriers that itcould face at the phase of expansion. JCB is a private firm with a global coverage of over 150countries where it is notably known for building equipments for varied purpose of constructionand agriculture, etc. It thereby produces over 300 varieties of machineries in around 22 factoriesof its own (Eshun Jr, 2009).
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