Global Business Aspects Report: Drivers, Benefits, and Barriers

This report provides a comprehensive overview of global business aspects, focusing on the benefits and barriers of international business. It delves into the drivers behind globalization, such as technological and political factors, and examines the advantages of expanding into new markets and diversifying assets. The report also discusses the barriers faced in international business, including language and cultural differences, currency exchange rates, and inflation. Furthermore, it explores the role of the World Trade Organization (WTO) in international business, including its objectives and functions, and analyzes the effects of trading blocs. The report uses the company AstraZeneca Plc as a case study and includes a comparison between domestic and international business operations.

TASK
The Drivers behind Globalisation
There are main external areas which management of organization
have to focus when they expand their business on international
level these areas are very important for business because this
help business to grow and developed in business areas and able
to beat their competitors in market. Let’s discuss all main
external areas of business in brief which are explained below:
Technological drivers: Inventions with inside the location of
microprocessors and telecommunications enabled tremendously
powerful computing and verbal exchange at a low-price level.
Finally the fast boom of the Internet is the ultra-modern
technological driving force that created international e-enterprise
and e-commerce (Vajdová, Szabo and Szabo Jr, 2018).
Political drivers: Liberalized buying and selling regulations and
deregulated markets result in reduced price lists and allowed
overseas direct investments in nearly everywhere in the world.
The group of GATT (General Agreement on Tariffs and Trade)
1947 and the WTO (World Trade Organization) 1995 in addition
to the continued establishing and privatization in Eastern Europe
are only a few examples of recent developments.
Cost Drivers: Sourcing performance and fees range from United
Kingdom and worldwide companies can take benefit of this fact.
Other fee drivers to globalization are the possibility to construct
worldwide scale economies and the excessive product
improvement fees nowadays.
Difference between domestic and International
business
GLOBAL BUSINESS ASPECTS
REFERENCES
Kostkova, M. and Pellesova, P., 2021. Global Aspects of the Gastronomic Trends and
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Morozova, I.A., Popkova, E.G. and Litvinova, T.N., 2019. Sustainable development of
global entrepreneurship: infrastructure and perspectives. International
Entrepreneurship and Management Journal, 15(2), pp.589-597.
Newburry, W., Deephouse, D.L. and Gardberg, N.A., 2019. Global aspects of
reputation and strategic management. In Global aspects of reputation and strategic
management. Emerald Publishing Limited.
Vajdová, I., Szabo, S. and Szabo Jr, S., 2018, December. Economic aspects decisive
about entry into the global alliance. In Production Management and Business
Development: Proceedings of the 6th Annual International Scientific Conference on
Marketing Management, Trade, Financial and Social Aspects of Business (MTS 2018),
May 17-19, 2018, Košice, Slovak Republic and Uzhhorod, Ukraine (p. 243). CRC
Press.
Vora, D. and Kainzbauer, A., 2020. Humanistic leadership in Thailand: a mix of
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Strategic Management.
Introduction
In UK there is company AstraZeneca Plc which was
established in April 1999. It is based on Pharmaceutical
and Biotechnology company in UK. This is company is
capturing and holding huge numbers of customers in
UK. This is company help UK nation to improve their
economic conditions. They are focusing on how they
improve their production by using latest technology in
their organization. This report is based on 2 parts, in
which Task 1 consists of Lo1 and Lo2 in which poster
presentation is prepared on AstraZeneca Plc expands
their business on international level and in this report it
includes the drives behind globalisation (Vora, and
Kainzbauer, 2020). It also includes benefits and barriers
of international business and it also includes the
difference between domestic and international business
and it also includes the role of WTO in international
business and it also includes the effects of trading blocks
in International business.
The role of WTO in International business
WTO enables implementation, management and cleans
operations of exchange agreements among the
international locations. It gives a discussion board for
the exchange negotiations among its member
international locations. The Settlements of disputes
among their member of international locations via the
mounted policies and regulations (Morozova, Popkova
and Litvinova, 2019). The roles of WTO are briefly
discussed in below:
WTO’s intention is to liberalise worldwide alternate.
It establishes regulations concerning worldwide
alternate and sees that those regulations are obeyed.
It has 161 nations of the arena are its contributors
currently.
It is visible that the evolved nations have unfairly
retained alternate barriers. On the opposite hand, WTO
regulations have compelled growing nations to take
away alternate barriers.
The effects of Trading Blocs in International Business
An exchange bloc is a sort of intergovernmental
agreement, regularly a part of a local intergovernmental
organization, in which boundaries to exchange (price
lists and others) are decreased or removed the various
taking part states.
Benefits and Barriers of International Business
Benefits of International Business:
New Markets: For many companies, global enlargement gives a risk to overcome new
territories and attain extra of those consumers, consequently growing sales.
Diversification: Many groups extend across the world to diversify their assets, an
motion which could guard a company’s backside line in opposition to unexpected
events (Newburry, Deephouse and Gardberg, 2019). For instance, agencies with global
operations can offset poor increase in a single marketplace through running
efficaciously in another.
Competitive Advantages: International commercial enterprise also can boom a
company’s perceived image, as worldwide operations can assist construct call emblem
reputation to help destiny commercial enterprise scenarios, which includes settlement
negotiations, new advertising campaigns or maybe extra expansion.
.
CONCLUSION
From this above report it has been stated that how
international business affect the nation economy and how it
is important for organization to expand their business for
sustain long term in market. In this report it has been
conclude that how drivers behind globalization is affect the
organization in international market and it also conclude the
briefly explain the benefits and barriers on international
business in market. This report it has been conclude that
difference between domestic and international business and it
also conclude that how their role of WTO in International
business and how it will affect the business. This report also
concludes the effects of trading blocs in international
business.
Barriers of International Business:
Language Barriers: When accomplishing worldwide business, it’s essential to
recollect the languages spoken with inside the international locations to which you’re
trying to expand.
Cultural Barriers: Culture includes the arts, traditions, foods, and social norms
accompanied with the aid of using a particular organization of people. It’s critical and
enriching to study the cultures of nations wherein you’ll be doing business.
Currency Exchange and Inflation Rates: The cost of different currency of different
country won’t usually identical the identical quantity in different countries’ foreign
money, nor will the cost of foreign money continuously be really well worth the
identical quantity of products and services.
Difference between domestic and International business
Domestic Business International Business
 Domestic commercial enterprise refers back to the commercial
enterprise in which financial transactions are performed with inside the
geographical barriers of the only country.
 International commercial enterprise refers back to the commercial
enterprise in which financial transactions are performed throughout
border with numerous international locations with inside the world.
 In International business buyer and seller belong to different countries.  In International enterprise client and supplier belong to exceptional
countries.
 Domestic commercial enterprise is restrained to territory.  International commercial enterprise is pretty wide.