Impact of International Business Risks - Report

Added on - 28 May 2020

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Running head: INTERNATIONAL BUSINESS RISKS AFFECTING GLAXOSMITHKLINEInternational business risks affecting GlaxoSmithKlineName of the UniversityName of the StudentAuthor note
1INTERNATIONAL BUSINESS RISKS AFFECTING GLAXOSMITHKLINEExecutive summaryThe chief purpose of the report was to analyze critically the impact of international business riskson multinational pharmaceutical companies. GlaxoSmithKline, the multinational giant in thepharmaceutical industry was chosen for this purpose. The report focused on the cross-culturalaspect of its global operations and analyzed it in terms of international business and the risksassociated. In addition, the report elaborated precisely about the various risks that concernmultinational companies in general and pharmaceutical MNCs in particular. The report alsorecommended certain steps that GSK must take to survive and flourish in international market.The report concluded with an overall summary of the analysis.
2INTERNATIONAL BUSINESS RISKS AFFECTING GLAXOSMITHKLINETable of ContentsIntroduction......................................................................................................................................3Risks associated with international business...................................................................................4Impacts on pharmaceutical company...............................................................................................6Overview of GlaxoSmithKline........................................................................................................8Cross-cultural management...........................................................................................................10Recommendations..........................................................................................................................11Conclusion.....................................................................................................................................13References......................................................................................................................................14
3INTERNATIONAL BUSINESS RISKS AFFECTING GLAXOSMITHKLINEIntroductionInternational trade, in recent decades has seen an unprecedented growth andGlobalization has played a major role in this. Owing to the phenomenon called globalization, theexchange is business has been visible in almost all the countries of the world. The trend haslargely contributed to the economic growth of many developing nations by opening the gates ofemployment to millions of unemployed youth. With great opportunities however, internationalbusiness brought with it, many impending risks as well. As defined by Kot and Dragon (2015),international business risks refer to the possibility of unfavorable occurrences that a companymight encounter while expanding internationally. While international business provides immenseprofit to a certain company, it also comes with endless risks. Many risks are encountered bymultinational companies in operating their business in regions other than their native place. Therise in competition has further escalated the risks and an issue faced by the MNCs.Pharmaceutical companies in particular is affected by the risks associated with internationalbusiness. One of the most prominent effects in recent times, on international business has beenthe exit of Britain from European Union.The given report provides a thorough analysis of the impacts of international businessrisks on pharmaceutical companies. The report would specifically analyze the impact on oneaspect of the company’s global operations, which is its cross-cultural management. Themultinational company chosen for the purpose is GlaxoSmithKline. The company is based inBritain and has operations in countries spreading across Asia, America and Europe. The reporttries to present elaborately, the importance of cross-cultural management in internationalbusiness mainly pharmaceutical. The major risks concerning international business includepolitical risk, exchange risk, credit risk, market risk and cultural risk and transport risk. Dinu
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