International Business Challenges in a Globalised World Introduction The globalisation of business and commerce has become an increasingly significant reality worldwide: The rise of globalisation posits a number of important challenges to a business seeking international presence. Numerous strategic aspects must be taken into account prior to commitment at an international level, and afterwards. Constant flexibility is required to adapt to changing patterns at local, regional and international levels.
There are many different geographic factors that affect international business. The use of conventional SWOT analysismarket researchand cultural research, will give a firm appropriate tools to reduce risk of failure abroad.
Risks that arise from poor planning include: There are also cultural risks when entering a foreign market. Lack of research and understanding of local customs can lead to alienation of locals and brand dissociation. As such, they are key matters for the board and impinge on the whole business, rather than just an isolated unit.
If the expenditures and costs are controlled, it will create an efficient production and help the internationalization. The government might be corrupthostile, or totalitarian ; and may have a negative image around the globe. A firm's reputation can change if it operates in a country controlled by that type of government.
Elections or any unexpected political event can change a country's situation and put a firm in an awkward position. Political risk tends to be greater in countries experiencing social unrest. When political risk is high, there is a high probability that a change will occur in the country's political environment that will endanger foreign firms there.
Corrupt foreign governments may also take over the company without warningas seen in Venezuela. Some of these risks include "lack of security in electronic transactionsthe cost of developing new technology This may cause aggravation to the people living there, which in turn can lead to a conflict.
People want to live in a clean and quiet environment, without pollution or unnecessary noise. If a conflict arises, this may lead to a negative change in customer's perception of the company.
Actual or potential threat of adverse effects on living organisms and environment by effluents, emissions, wastes, resource depletion, etc. As new business leaders come to fruition in their careers, it will be increasingly important to curb business activities and externalizations that may hurt the environment.
The effect of exchange-rate and interest rate make it difficult to conduct international business.
In practice, the biggest problem arising from economic mismanagement has been inflation. Historically many governments have expanded their domestic money supplying misguided attempts to stimulate economic activity. The devaluation and inflation will also affect the firm's ability to operate at an efficient capacity and still be stable.
It might be higher or lower in the host countries.Topics for business research essay paper get synthesis information security argumentative stru network ideas assurance and ~ JerryAndTomGames International Business Paper Topics Essays T.
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