• Home Page
  • Cultural Theories And Challenges In International Business And Trading

Cultural Theories And Challenges In International Business And Trading

Great Essays
Show More
Introduction
International business and trading is an activity that is comprised of all those commercial transactions which take place in two or more regions, two or more countries or nations that are beyond their political boundaries. In this line, it means, that international business cuts across different cultural differences in different nations, different governmental regulations and diverse application of labor rules. Introducing a new product at the international market will not go well without proper environmental scanning. The environment has to be analyzed very well to see the competitors and industrial analysis. Entering the global business will also be subject to stiff competition since there will be already established companies. …show more content…
The theories will include global strategic theory and Porter’s National Competitive Advantage Theory. The Uspower business will encounter a global competition and as a result, it will have to coin competitive advantages. It will entail crafting ways to overcome the barriers to entry in Poland power tool business industry. These barriers include R&D, economies of scale and application of unique business procedures. Through proper analysis of this theory, the firm will seek to gain competitive advantage over the Canadian and the Chinese firms. The Porter’s National Competitive Advantage Theory will help the business in explaining the Poland’s competitive advantage. The theory asserts that competition in a country is based on the ability of the industry to upgrade their products through innovation. The power tools business will thus analyze the local market capabilities, the demand conditions in Poland market and the characteristics of the local …show more content…
The business will start by offering discounts for any customer who buys the product during holidays. The business will also carry out mass advertisement through radio and televisions. Newspapers will also serve as tools for marketing the power tool products. Other tactics will include social selling and product automation. The business will also come up with a tactic of website personalization to make it is for their business information to reach clients. Lastly, the business will use messaging, driven by the behavior of the clients. They will cluster the customers into segments and use messaging to create awareness and receive quick responses from the

Related Documents

  • Improved Essays

    HSC Business Task Role, Influences, Strategies
    • 787 Words
    • 4 Pages

    HSC Business Task Role, Influences, Strategies

    HSC Business Task Role, influences,Strategies a. Identify and briefly outline the main influences on operations management (outline each influence and how they impact on the operation function) Globalisation Globalisation is indicating to the improvement of technology and communication in the merging of world economies into a single market. This allows the trade and nations to become more connected which results of the concept of “smaller place. It is considered as significant in operation management as it increases the positioning of the large business in the global market with providing the needs of global consumers. The global costumers aim for universal brand and tend to pursue standardised products, which impacts the operation function.…

    • 787 Words
    • 4 Pages
    Improved Essays
    Read More
  • Superior Essays

    Southwest Airlines Globalization
    • 1083 Words
    • 5 Pages

    Southwest Airlines Globalization

    The globalization process has come to be one of the driving factors of business in the modern era. Some of the elements which contribute significantly to globalization include culture, environment, technology and regulation. With the advancements in globalization, there has…

    • 1083 Words
    • 5 Pages
    Superior Essays
    Read More
  • Improved Essays

    Tim Horton International Marketing Strategy
    • 819 Words
    • 4 Pages

    Tim Horton International Marketing Strategy

    2 The internationalisation Process Traditionally, the major activity related to international business used to be export, but today there has been a shift towards internationalisation of the company whilst achieving competitive advantage driven by globalisation, technology, politics and economical changes. Access to new and bigger markets for growth is one of the reasons of internationalisation and this is in turn influenced by the opportunities that exist in the foreign market (Masum & Alejandra, 2008). 2.1 Foreign Market entry modes Entry decisions that management has to consider before going international are: • Market attractiveness • Timing of entry into the market • The scale and involvement of its resources After the above three main…

    • 819 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    International Business Case Study: Compsis At A Crossroads
    • 1345 Words
    • 6 Pages

    International Business Case Study: Compsis At A Crossroads

    2016). Factors for competitive advantage for countries in Porters Diamond framework are: 1. Firm Strategy, Structural and Rivalry: National performance is related to strategies and structure. It is the competition that drives the innovation and upgradation of competitive advantage and rivalry provides stimulus for innovation and…

    • 1345 Words
    • 6 Pages
    Improved Essays
    Read More
  • Improved Essays

    General Electric Value Chain Analysis Paper
    • 853 Words
    • 4 Pages

    General Electric Value Chain Analysis Paper

    company’s strong brand presence; the multi- business structure of the company, and the company’s establishment of strong partnerships, which may been forged with years of expertise. Threshold capabilities are also vital to the company but are relatively easier to imitate, as most organizations are able to do it. Customer service, Innovation, employee management, strategic management, and financial knowledge are the basic or threshold capabilities required from the firm to be maintained. The core capabilities of GE lie with their passion for leadership development; the development of the company’s human resources, its people; its expertise in diversification; its continuous thirst for creativity and motivation; its investments and trust in the…

    • 853 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    Ladurée Case Study
    • 798 Words
    • 4 Pages

    Ladurée Case Study

    Citation Punnett, Betty Jane. “INTERNATIONAL BUSINESS.” Reference for Business, www.referenceforbusiness.com/management/Gr-Int/International-Business.html. Codinha, Alessandra.…

    • 798 Words
    • 4 Pages
    Improved Essays
    Read More
  • Superior Essays

    Port Of Singapore Case Study
    • 2159 Words
    • 9 Pages

    Port Of Singapore Case Study

    Abstract: The Port of Singapore has a multi-pricing structure. The costs are arranged in three categories: port-calling costs, terminal-handling costs and concession pricing. Port-calling costs are the costs of all services offered to the vessel, ranging from access to quay or terminal, to pilotage, to the supply of water and bunkering, i.e. they encompass all ship-handling costs. Terminal-handling costs comprise costs for loading or unloading, storage, customs clearance, repacking and forwarding, i.e. they cover all services required for moving the cargo onwards through the port and down the supply chain. Terminal concession costs are the cost of acquiring a dedicated terminal.…

    • 2159 Words
    • 9 Pages
    Superior Essays
    Read More
  • Improved Essays

    The Importance Of Global Supply Chain Management
    • 839 Words
    • 4 Pages

    The Importance Of Global Supply Chain Management

    For example, in the year 2000, a firm sourced between 21% to 30% of their total annual spend on a worldwide buying. Later in year 2005, total non-domestic spend increased to 31% to 40% and later it was projected that in the year 2010 the total amount of purchased good and services obtained from non-domestic sources will be between 41% to 50%. Thus the study clearly shows that the business growth was mostly dependent and was gaining popularity in term of outsourcing and also observed the increase in investment in foreign countries because of strategic factors advantage evaluated by the business. Procter & Gamble (P&G 2008) also reported that over one third of its growth occurred overseas, thus oversea collaboration with other suppliers resulted in business expansion and diversification. The reason for global sourcing would be because of strategic evaluation of factors such as superior quality, lead time length, lower cost of operations, better innovative technology, broader supply base network and wider customer…

    • 839 Words
    • 4 Pages
    Improved Essays
    Read More
  • Great Essays

    Business Environment Case Study
    • 1383 Words
    • 6 Pages

    Business Environment Case Study

    In the past, the environment of man consisted of only the physical aspects of the planet Earth (air, water and land) and the biotic communities. But in due course of time and advancement of society, man extended his environment through his social, economic and political function.” In a globalised economy, the business environment plays an important role in almost all business enterprises. The significance of business environment is explained with the help of the following points: (i) Help to understand internal Environment:It is very much important for business enterprise to understand its internal environment, such as business policy, organisation structure etc.…

    • 1383 Words
    • 6 Pages
    Great Essays
    Read More
  • Improved Essays

    International Marketing Reflection
    • 728 Words
    • 3 Pages

    International Marketing Reflection

    This course has provided me with a constructive and academic study of the opportunities and challenges faced in International Marketing. Through my group project, case study, Newsline, lectures, and exams/quizzes, I have gained valuable knowledge that I can apply to my future. It has allowed me to reflect on issues in marketing that I am familiar with from a new global perspective. I now understand the importance of acquiring a global mentality for marketing while learning the differences between marketing in a classical sense and an international sense.…

    • 728 Words
    • 3 Pages
    Improved Essays
    Read More
  • Great Essays

    Business Management: The Porter Diamond Model In The International Economy
    • 1643 Words
    • 7 Pages

    Business Management: The Porter Diamond Model In The International Economy

    Q1: Policies that can shape or constrain the behavior of firms The competitive advantage between nations; is a set of special attributes of a nation, it is an advantage, capacity , ability that a nation has to enable it to produce or generate more income, profit, sales and revenue and enable the nation in constant attracting and retaining more investors than other nations(Open U, 2010). The competitive advantage puts a nation on the peak of success and maintains its strategic business position in the international market.…

    • 1643 Words
    • 7 Pages
    Great Essays
    Read More
  • Improved Essays

    International Marketing Problems
    • 762 Words
    • 4 Pages

    International Marketing Problems

    Businesses that want to go overseas have many factors that they need to consider in order to be successful. They must first be able to identify the typical problems companies face while trying to go overseas. They should also learn about the cultural differences that lead to marketing problems. Finally, they should also understand the importance of marketing research when entering overseas markets. There are several types of problems a company can encounter when wanting to enter a foreign market.…

    • 762 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    Statement Of Purpose For International Business Management
    • 846 Words
    • 4 Pages

    Statement Of Purpose For International Business Management

    In recent years, the business world has become rapidly integrated across one’s restricting borders, and anyone with high goals in the business world must have a business perspective and be aware of the realities of different national arenas. After growing up in the business family, I feel that main cause of problems faced by country are lack of proper understanding and learning from the other developed economies, be it in technology or working methodology. So, I personally believe that proper observation of business economy is must to expand the business across the national boundaries and it is crucial to have a broad and refined international outlook. Belonging to a business family, and having exposure to business, my fascination has always been in the way businesses are run and hence my interest is in business management.…

    • 846 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    Importance Of Culture In International Marketing
    • 1625 Words
    • 7 Pages

    Importance Of Culture In International Marketing

    Culture in the international marketing has an important position. International marketing success and failure, the main reason is cultural (Ricks, 1993 cited in Hollenson, 2017). A large number of cases show that in many environmental factors, the culture is gradually becoming a core factor affecting international marketing. The main purpose of this essay is to illustrate the importance of culture in international business through some basic theories and related cases. The essay will be divided into two parts.…

    • 1625 Words
    • 7 Pages
    Improved Essays
    Read More
  • Improved Essays

    Global Local Dilemma Essay
    • 716 Words
    • 3 Pages

    Global Local Dilemma Essay

    Nowadays, companies are becoming more and more global. When a company decides to go into the international market it has to face what it is known as the global-local dilemma. The global local dilemma states that companies have to consider different options when deciding the strategy they are going to use. They can offer local-responsiveness solutions, this is, adapting their products to the national culture or using a global integration solution, carrying out businesses in a similar way throughout the world. The solution of the dilemma will affect many areas of the company.…

    • 716 Words
    • 3 Pages
    Improved Essays
    Read More

Related Topics

Ready To Get Started?
Discover
Company
Follow
©2024 Cram.com
Privacy Policy |  About Ads |  Site Map |  Advertise  | 
  • Cookie Settings