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International Business - Essay Example

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International Business Name Institution Date Executive Summary The essence of international business is to offer a global outlook of the available opportunities for organizations to increase revenue. The need for international outlook means that each company, whether small or multi-national, desires a chance to market its products to an international clientele…
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International Business Essay
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"International Business"

Download file to see previous pages As a result, the need to venture into areas where the cost of production is cheaper and easier to market to other areas arises. Despite these merits, the political, economic, social, technological and environmental issues have to be put into consideration and optimally explored to ensure maximum profitability. The country which offers better marketing mix attributes has many multinational companies knocking to invest their resources in order to maximize on profitability. One such country is China. The products to be bought are electronics mainly television sets and computers. These two are quite crucial in the every day life of an American and the rapid technological improvements are making them quite dynamic. This dynamism allows the company to tap into the different market potentials with different marketing mix strategies put into efficient use. International Business International business activities affect many spheres of people’s daily lives. Whether one looks at the products, services and the impact of each of these, the results are obvious; internationalization of business is imminent. The act of globalization makes business much easier as different agreements and trading blocs allow for greater and easier access of products and services at reduced or subsidized prices. This reduces the cost of production and increases a company’s profitability. Business restrictions are lessened every day with competition spreading in a global scale. The use of currencies is also being harmonized in some trade blocs such as the European Union with political relations being strengthened amongst the principal economic powers. The better relations ensure peace and stability; hence better global economic prospects. This further leads to better trades and economic relations that lead to sound competition and proper utilization of resources. Imports and exports have thus been key determinants of how well a country is performing in terms of its GDP growth and the level of economic freedom. Some economic regulations are made to regulate the number of foreign companies sourcing for products or raw materials, and the amount that each company can export or import into the country. Local companies are given the first priority. The report herein will explore the benefits and challenges of buying electronics from China, and what impact such trade will have on the business environment within the US. Product and Country Background The benefits of buying electronics from China are many. The Chinese market and manufacturing sector have grown immensely over the past few decades with strong indicators witnessed through the Chinese economic prowess. Exports to China rose by $91.9 billion in 2010, as compared to a decade earlier, and this is still expected in the coming years. Imports from China have also risen by almost similar margins, mainly in electronics and agricultural products. It is also reported that at least 2.7% of all American consumption comprises goods made in China (Daniels, Radebaugh and Sullivan, 2007). Regulations placed by the government have hindered many companies from exploiting the skilled and cheap labor as well as abundant resources that the country has to offer. Much emphasis is laid on local businesses to flourish with the international community allocated some percentage of the available economic ventures. ...Download file to see next pagesRead More
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