Tapping Into New and International Markets

Tapping
Into
New
And
International
Markets

Table of Contents
INTRODUCTION.................................................................................................................................3
TASK 1.................................................................................................................................................3
P1. Describe the global business which operates small and medium enterprises...............................3
P2. Demonstrate opportunities and treats of SME in competitive market..........................................5
TASK 2.................................................................................................................................................6
P3. Analyse the advantages and disadvantages of international trading blocs and agreements..........6
P4. Determine various tariff and non-tariff barriers of international trading environment.................7
TASK 3.................................................................................................................................................8
P5. Discuss the benefits and limitations for importing and exporting a secure deal...........................8
P6. Describe the comparison between merchandise and service imports and exports........................9
TASK 4...............................................................................................................................................10
P7. Analyse various methods for Small and medium enterprise to tap into international markets...10
P8. Describe the pros and cons for SME to tap into international markets......................................10
CONCLUSION...................................................................................................................................12
RECOMMENDATIONS.....................................................................................................................12
REFERENCES....................................................................................................................................14

INTRODUCTION
The international market is most popularly known as global business environment. It refers as
marketing on a worldwide scale for taking competitive advantage by increasing opportunity and
reducing threats. The small and medium-sized enterprises are described as non-subsidiary,
independent firms which employ less number of workers in their organisation. The organisation
selected for this project is Vodafone Group as being multinational telecommunications company
(Baier, Rammer and Schubert, 2015). It is headquartered in Newbury, Berkshire, England, London
and further wants to expand its business in Singapore. This project describes the global business
environment of international market which operates small and medium enterprises to analyse their
opportunities and threats for sustaining in perfect competition market. It further demonstrates the
advantages and disadvantages of international trading blocs and agreements with explanation of
various tariff and non-tariff barriers. Additionally, discuss the benefits and limitations for importing
and exporting a secure deal with the comparison between merchandise and services. This project also
examines various methods for small and medium enterprises to tap into international market with their
pros and cons for business.
TASK 1
P1. Describe the global business which operates small and medium enterprises
Global business environment:- This is defined as societal and task environment of an
organisation that influence global forces which are labour market, economic, technological, political
and legal. It is described as the procedure through which an organisation expands business by tapping
into new and international market with the motive to achieve success efficiently by properly analysing
and the considerations of customers. The main purpose of business is to produce goods and services
with the ability to fulfil needs, desire and wants of their buyers for providing them high level of
satisfaction through their qualitative products. It leads to increase competitive strategies of an
enterprise by promoting and positioning their brand through supply chain management.
Vodafone Group:- The Vodafone Group is a public limited company with its ISIN number
of GB00BH4HKS39. It is multinational telecommunications company which is located in Newbury,
Berkshire, England and headquarters at United Kingdom. The Chairman of Vodafone is Gerard
kleisterlee and Chief Executive Officer is Nick Read. The products of company are fixed line
telephone, mobile phone, broadband, digital and internet television, etc. It further produces Internet
Protocol Television (IPTV) as being the delivery content over internet protocol networks through
traditional, terrestrial, satellites (Buckley and Hanieh, 2014). This company generated revenue of
43.666 billion with 98,996 numbers of employees in 2019. The main purpose of Vodafone is to

satisfy all its stakeholders, society members, customers, employees and even government with its
legal and lawful actions by developing trust and faith among one another.
PESTLE Analysis:- This is a framework mostly used by every organisation to analyse their
competitive strategies as compared with rivalries to sustain in perfect competition market. It is the
acronym of political, economical, social, technological, legal and environmental factor for business
that positively or negatively impact the stability of business. Managers of Vodafone implement this to
analyse their threats from other companies which are to be restricted through precautionary steps in
order to minimise the uncontrollable risk.
 Political:- It is referred as the rules and regulations imposed by government on an
organisation for emphasizing them to follow policies and procedures. Managers of Vodafone
are favourably affected with this factor as Singapore and United States strongly enjoys
political and economic relation with each other (Chikweche and Fletcher, 2014).
 Economical:- The economy of Singapore is a vibrant free-market economy for developing at
a very fast space. Managers of Vodafone are favourably affected as per-capita income is
highest in ASEAN and have corruption-free environment which supports business to remain
stable.
 Social:- The Singapore follows traditional family values where the younger generation has
the tendency to follow western culture and values. Managers of Vodafone are positively
impacted for attracting international trade and foreign investment.
 Technological:- The internet plays a strategic role in Singapore advancement with ease in
communication by increasing connectivity. Managers of Vodafone are favourably affected as
they are helpful in reducing cost and are capable in restricting time consumption for
productivity.
 Legal:- It is mandatory for an organisation to follow the legal and lawful obligations of
government by implementing the legislation within business to achieve success. Managers of
Vodafone are unfavourably affected as they are bound to follow the e-commerce policy which
was initiated in Singapore such as Electronic Transactions Act, Intellectual Property Rights,
etc.
 Environmental:- The Singapore have mostly suffers from air and water pollution which
adversely affects the environment (Jayaram, Oke and Prajogo, 2014). Managers of Vodafone
are facing this problem of pollution from transportation which is the main reason of urban
areas.
Small and Entrepreneurial business operates in global business environment for:-