International Business Assignment - McDonald's and Yum Brands
Added on -2020-07-23
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International Business
Table of ContentsINTRODUCTION ..........................................................................................................................1TASK ..............................................................................................................................................1P2 Describe the mechanisms that regulate international trade....................................................2P3 Describe how the environment and culture of another country affects a business operatinginternationally.............................................................................................................................3P4 Describe how the monetary environment affects businesses that operate internationally.....4P6 Explain the business strategies used by a business operating internationally.......................6CONCLUSION...........................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTION Today, business is acknowledged to be international and there is a general expectationthat this will continue for the foreseeable future. International business may be defined simply asbusiness transactions that take place across national borders. This broad definition includes thevery small firm that exports (or imports) a small quantity to only one country, as well as the verylarge global firm with integrated operations and strategic alliances around the world (Wild,Wildand Han, 2014). Within this broad array, distinctions are often made among different types ofinternational firms, and these distinctions are helpful in understanding a firm's strategy,organization, and functional decisions (for example, its financial, administrative, marketing,human resource, or operations decisions). A multinational enterprise (MNE) is a company thathas a worldwide approach to markets and production or with operations in several countries.Well-known MNEs include fast-food companies such as McDonald's and Yum Brands, vehiclemanufacturers such as General Motors.TASK P1 Explain the international business environment in which a selected organisation operatesGlobalisation is the process that that enables economic, social and cultural activities to becarried out across national borders; it therefore enables businesses to trade and operate on aninternational level (Poulis, Poulis and Plakoyiannaki, 2013).In the recent years it is the actions of businesses that have speeded up the development ofglobalization. Two factors that have led to the development and growth of globalization are:. -The barriers to international business have become much lower, making it much easier forbusinesses to expand abroad, i.e. European Union - Lower transport costs: costs of shipping havecome down due to bulk shipping and due to transport becoming more efficient.My chosen MNE is McDonald’s – it is the world’s largest chain of fast food restaurants and isfound in 119 countries, serving 58 million different customers daily.The success of a multinational enterprise such as McDonald highly depends on internationalbusiness, making it the most important factor needed not only for success but also day to dayrunning of the business on an international level (Kollmann, 2013). In order for McDonald's tosucceed on an international level, the company has to consider many aspects that require a lot of1
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