Analyzing the Global Business Context of Labor and Wait Company

This presentation provides an analysis of the global business context, focusing on the Labor and Wait company, a small business based in London specializing in home and well-being items. It explores the various drivers of globalization, including technological, political, market, and competitive factors, and discusses the benefits of international expansion, such as entry into new markets, access to local talent, and improved brand image. The presentation also addresses potential barriers to international trade, including tariff, ethical, and cultural barriers. Furthermore, it differentiates between domestic and international business and highlights the role of the World Trade Organization (WTO) in facilitating international trade through multilateral agreements. The effects of trading blocs are also examined, emphasizing the advantages of free access to markets and specialization. The presentation concludes that while international trade offers significant opportunities, businesses must carefully consider and address potential challenges to avoid losses.

Presenting the benefits and barriers to international business.
For the company like Labour and wait company that is focused on running at
small business in UK, while going international it would be able to:
• Entry new markets
• Access to local talent
• Better brand image
However, there are certain barriers to the international trade that would affect
the business that are as follows:
• Tariff barriers
• Ethical barriers
• Cultural barriers
Identifying the drivers of globalization.
Globalization is very common for the local
companies that wish to trade variety of goods and
services across the borders so that greater sales
could be done and revenues could be generated.
Some of them are as follows:
• Technological
• Political drivers
• Market drivers
• Competitive drivers
Discussing the role of
WTO in international
business.
• Developing multilateral
trade agreements that
would facilitate business
through providing
framework that would
be strictly followed by
trading companies.
CONCLUSION
From the above presentation it can be said that though the international trade is good for the business but it
needs to ensure that certain measures are taken properly to avoid future losses.
REFERENCES
Books and Journals
• Hill, C. and et.al.,
2017. Global business
today: Asia-Pacific
perspective. McGraw-
Hill Education.
• Gitman, L. J.,
McDaniel, C. and
Shah, A.,
2018. Introduction to
business. Rice
University.
INTRODUCTION
Global business refers to production and selling
of goods and services within the countries so
that business could be expanded in particular
markets. The present presentation is based on
Labor and wait company that runs small
business of home and well-being items in
London. Further, the presentation will analyze
various drivers of globalization along with
benefits of going international by keeping in
mind certain barriers of trade.
Difference between
domestic and
international business.
Domestic business:
It refers to business where
all the transaction are
conducted within the
geographical boundaries.
International business:
Here all types of
economic transactions are
conducted across borders
and several other
countries
GLOBAL BUSINESS CONTEXT
Describing effects of trading blocs in international
business.
Trading blocs refers to group of countries that have
decided to remove trade barriers for all its
participants. Further, there are various advantages of
such trade bloc on the countries as each member
country would have the free access to the markets that
would help in the specialization at both regional and
national level