Unit 43: Tapping into New and International Markets
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Added on 2020-06-04
Unit 43: Tapping into New and International Markets
Added on 2020-06-04
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Tapping into New andInternational Markets
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Global business environment in which small and entrepreneurial business operate........1P2 Threats and opportunities that faced by SMEs in increasingly competitive globalenvironment. ..........................................................................................................................6TASK 2..........................................................................................................................................10P3 Advantages of international trading blocs and agreements.............................................10TASK 3..........................................................................................................................................14P 5 Advantages and disadvantages of importing and exporting...........................................14P6 Difference between the merchandise and service imports and exports..........................16Merchandise.........................................................................................................................16TASK 4 .........................................................................................................................................17P7 various methods in which SMEs can tap into international markets..............................17P8 comparing various ways through which SMEs can tap in to international markets.......18CONCLUSION..............................................................................................................................19REFERENCES..............................................................................................................................20
INTRODUCTIONIn present global business environment, companies are continuously focusing on newways to grow their business internationally. Rapid rise and innovation in digital technology andremoval of trade barriers to enter is considered as easier than ever before, but enterprises needsto consider the another range of options at the time of making decisions to expand their businessat international level. Present report is based on analysis of ways through which SMEs, COOKUK, can successfully expand their business internationally. COOK is a manufacturer of andretail of frozen ready meals. After achievement of success in the local market, Company islooking forward to growing its operations in other regions of the world and wants to set a plant inAfrican country to cater for the airline industry. As an assistant business advisor on internationaltrade, South Africa has been selected for successful expansion of business for COOK. Further,global business environment in which the small business operates is also discussed along withthe threats and opportunities faced by them in competitive global environment. TASK 1P1 Global business environment in which small and entrepreneurial business operate.1
Notes:Present report is based on analysis of ways through which SMEs, COOK UK, can successfullyexpand their business internationally. Present report is based on analysis of ways through whichSMEs, COOK UK, can successfully expand their business internationally2
Notes:From the study, global business expansion has been considered as planned expansion ofbusiness operations and functions by a company in the several regions of the overseas nationsacross the world. In present context, as an Assistant business advisor, there are variousopportunities have been identified for SMEs and entrepreneurial business to expand theirbusiness operations in South Africa. In this, company will make efforts to achieve thecompetitive advantage by delivering values to customers in global markets.3
Notes:. For example: Cook Ltd can also start shipping of their frozen food products to retailers in SouthAfrica. Special modesContract manufacturing: Significant opportunity for global expansion in which COOK can provide permission to other company to start production of frozen foods products under their label or brand name. Sole trading: It is also method through which company can expand their business in South Africa by Establishing their own plants on the basis of personal investments and risks. From the case study, it is identified that Cook has earned high profits local markets. Therefore, they have the capability to set up its business at own capital.4
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