International Diversity Denotes A Firm 's Increased Reliance On Foreign Markets
International diversity denotes a firm’s increased reliance on foreign markets as a means of growth and financial performance improvement (Zahra, Ireland et al. 2000). Basically, there are so many factors that influence the international business environment; which must be taken into consideration by companies expanding into foreign markets (Cravens and Piercy 2008). However, it is essential at this point to analyse the environmental factors that may influence the global operations of an international organisation (Kotler and Armstrong 2013) and draw up a good marketing strategy for my chosen company.
1.1 LITERATURE REVIEW ON THE ENVIRONMENTAL FACTORS THAT MAY INFLUENCE THE GLOBAL OPERATION OF AN ORGANISATION
In the 21st century, globalisation and economic integration encouraged more companies to utilise the international resource to meet the global market, in order to meet the needs of customers around the world and to generate more revenue (Kotler, Keller et al. 2007). However, for an international business breaking into a new market, it is important to take into consideration the environmental factors that can influence the business (Kotler & Keller 2012). Nevertheless, environmental analysis is one of the most significant tools in providing evidence to support the marketing strategy when forecasting for future trends. Also, the analysis helps organisations to search for existing opportunities (Highfield and Smiley 1987).