Reflective Portfolio: Assessment on International Business Insights

This reflective portfolio examines the student's learning experience from an international business assessment, focusing on the British and global steel industries. The assessment explores various aspects, including the impact of macro-environmental factors like recessions and Chinese influence, the application of trade theories such as Mercantilism and the New Trade Theory, and the role of government policies in addressing industry crises. The student reflects on the challenges of managing international business, the importance of government intervention, and the actions needed for the British Steel industry's recovery, including work and employee management, internal and external analysis, and tariff adjustments. The portfolio highlights the development of research, technical, and time management skills gained through the assessment, alongside the importance of investor involvement. References to relevant books and journals are also included.

Reflective Portfolio
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INTRODUCTION
International business provides companies an opportunity to raise their business at global
level which results to gain recognition among the diverse customers (Dunning, 2012). This file is
based on the learning from the overall assessment.
ASSESSMENT 3
Reflective
While conducting assessment on the international portfolio, I have learnt many things. This
assessment helps me in increasing my knowledge in the field of international business. Along with
this, I come to know about the background, working environment, organisational culture,
profitability, market position, brand reputation, etc of the British Steel industry and Global steel
industry. Along with this, I learn about the impact of macro environment factors on the working of
British Steel and Global Steel Industry. In this, I come to know about the recession, crisis, chinese
influence which resulted to the downsizing of the steel industry. I also helped me in enhancing my
knowledge about the policies and practices of the UK. All these factors play important role in the
decline of British steel industry.
On the other hand, I came to know about the various trade theories and their applicability.
These theories help in increasing the production and profitability of the industry. Each theory has its
own policies and practices which helps in achieving the objectives of the organisation effectively.
With the help of Theory of Mercantilism, I understand that it helps in improving the economic
condition of the nation for resolving the issues of steel industry. In this, each and every aspect is
effectively and properly measured and monitored by the company with respect to the export and
import of the goods and services. On the other hand, from the new trade theory I came to know that
it helps in developing the operational activities in proper way. Various dimensions are possessed by
the theory which lead to increase the potential of the British steel industry for getting growth and
success. Along with this, for overcoming from the crisis, this theory can help industries in
performing well by making effective policies and practices.
In addition to the above, this assessment also helps me in knowing the role of government in
handling the issues and present crisis. Important and significant role are played by the government
in handling the issues of crisis which are faced by the British Steel Industry. One of the major crisis
faced by the steel industry of the Britain is regarding the downturn. For handling the wrong
functioning and supporting the effective working operations, proper rules and regulations are
defined by the UK government (Bowler, 2016). This factor also aware me about the impact of
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recession on the British steel industry as approximate 1015 employees losses their jobs which
results to increase the problem of unemployment. I get knowledge about the importance of the
government acts and policies in improving the bad situations of the companies. This makes me
know about the necessity of government policies and practices in handling the problems like
recession, crisis, price rises, etc.
At the end of the assessment, I came to know about the actions which British steel industry
needs to take for improving its condition. The recommendations help me in knowing about the
different areas of the industry which needs to improve for achieving the previous market position
again. These areas are related to the work management, employee management, internal and
external analysis for bringing appropriate changes, setting the tariffs properly for getting quality
performance and gaining competitive advantages. On the other hand, investors can also help
company in handling its crisis by making appropriate investments. All these things improved my
knowledge in the area of international business (Folsom and et.al., 2012). It is difficult to manage
the work and employees at global level. It increases competition among the companies which is
quiet complex to manage. British steel industry needs to redevelop the policies and practices and
government also needs to help it for proper improvements (Birkinshaw, Brannen and Tung, 2011).
This complete assessment not only developed and improved my knowledge in the field of
international business, role of government, various issues that can affect the working of the
industries of global level, etc but also helps me in developing my skills and abilities. This
assessment helps me in developing my research skills as I read many books, websites, articles,
previous researches, journals, etc for conducting appropriate study. It also improved my technical
skills as I used computer, internet, printer, etc for this assessment. I also learnt about the time and
work management within the use of limited resources and time period.
CONCLUSION
It is concluded from the above that, British Steel industry has facing serious issues and
government can help it in improving its working and present condition by developing effective
policies and practices. With the help of different trade theories, company can also handle its present
situation.
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REFERENCES
Books and Journals
Birkinshaw, J., Brannen, M.Y. and Tung, R.L., 2011. From a distance and generalizable to up close
and grounded: Reclaiming a place for qualitative methods in international business
research. Journal of International Business Studies. 42(5). pp.573-581.
Dunning, J.H., 2012. International Production and the Multinational Enterprise (RLE International
Business) (Vol. 12). Routledge.
Folsom, R.H. and et.al., 2012. International business transactions: a problem-oriented coursebook.
Online
Bowler, T., 2016. Britain's steel industry: What's going wrong?. [Online]. Available through: <
http://www.bbc.com/news/business-34581945>. [Accessed on 25th April, 2016].
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