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International Dimension of Business - Essay Example

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This paper will seek to address why international business is becoming more important and which world regions have been opening for international business as well as its impacts. This paper will analyze all these details using Haier group of companies as illustration mechanism…
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International Dimension of Business
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Download file to see previous pages This research will begin with the statement that today’s global business environment has a fundamental requirement whereby understanding the international business is a necessity. Studying the developments involved in understanding other societies and cultures help enrich the lives of students and enhance their career opportunities. The theory of the evolution of the internet has shown there are no borders; many companies have taken the opportunity to expand and venture into other environments with the view of garnering effectively and cultivating an international clientele. The success of international business requires additional acumen compared to managing a local enterprise. Given this perspective, in international business, you need to deal with not just traditional business values and functions, but must understand and work from a worldwide point of view that incorporates culture, politics, monetary variables, and time among other factors as well. Being the fourth largest manufacturer of white goods, this company is part of the China’s Top 100 Information Technology Companies that contribute to part of largest revenue turnover annually. Due to expansion, it has a record of 240 subsidiary companies as well as 30 design centers. Additionally, it has trade and plant companies and accords over 50,000 employees to its name who operate in different support companies in various parts of the globe. This company majors in technological research, financial services, trading activities, and in the manufacturing industry....
Thirdly, this company sought to expand globally where it began grabbing opportunities for transferring its quality reputation and brand name to both developing and developed nations (Cullen and Parboteeah, 2005:280). As witnessed in the three categorical stages that this company based on while soaring to global margins, it is agreeable that it had to consider and formulate a number of strategies. Fact-findings reveal that this company had to use a Total Quality Management system that helped it put in place a rigorous standard of strong brand name in its home country. After implementing these new quality standards, the company was in a position to turn earnings only a year upon encountering a possible state of bankruptcy (Ding, 2002:4). While diversifying its products, it noted that other appliances such as microwaves and dishwashers as well as freezers were to expand since they go hand in hand with refrigerators. This company understood that, in order to maintain market grip and continue operating in the business, the company had to operate internationally. The company’s financial background Being the fourth largest manufacturer of white goods, this company is part of the China’s Top 100 Information Technology Companies that contributes to part of largest revenue turnover annually. Due to expansion, it has a record of 240 subsidiary companies as well as 30 design centers. Additionally, it has trade and plant companies and accords over 50,000 employees to its name who operate in different support companies in various parts of globe. This company majors in technological research, financial services, trading activities, and in manufacturing industry (Liu and Li, 2002:5). With respect to these business activities ...Download file to see next pagesRead More
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