Nobody downloaded yet

Global Business - Essay Example

Comments (0) Cite this document
Summary
Why did they believe it was necessary to adapt their approach from place to place?
Zara was established in Spain in 1975. Initially, the…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93% of users find it useful
Global Business
Read TextPreview

Extract of sample "Global Business"

Download file to see previous pages The company has chosen this market as its first international pilot project because it was geographically and culturally/psychologically close market (Ying Fan, 2009). However, the company realised that it was necessary “to adjust its business model to suit the new markets” (Ying Fan, 2009:285). Thus, the company has learned the Iron Rule of international business, whereas “in international business, the seller adapts to the buyer” (Gesteland, 2005: 17).
The company continued its business expansion across France, Northern Europe, Mexico, and Greece. Thus, Zara has utilised the benefits of cultural convergence – “the growing similarity between national cultures, including the beliefs, values, aspirations, and the preferences of consumers, partly driven by global brands, media, and common global icons” (Rugman and Collinson, 2011: 137). Also, Zara has opened a store in New York. Even though it was neither geographically nor culturally close market, it was strategic decision enabling the company to build brand awareness and get close to international fashion brands (Ying Fan, 2009: 286). Thus, Zara has gained knowledge, experience and expertise necessary for successful business development in more distant markets. During the period from 1997 to 2005 Zara has adopted aggressive business expansion and entered other markets despite the fact of geographical or cultural proximity (Ying Fan, 2009). As of January 2006, the company was present in 59 countries across Europe, America, Middle East, Asia and Africa. In order to meet the needs of the consumers from different countries, the company has adopted localization strategy (Rugman and Collinson, 2011). It has adopted its products by modifying cloth size, style, and other elements to local tastes and cultures.
In order to enter foreign markets, Zara has adopted three entry modes: own subsidiaries, joint ventures, and franchising. Zara entered most European and South American ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Global Business Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Global Business Essay Example | Topics and Well Written Essays - 1000 words. Retrieved from https://studentshare.org/business/1694318-global-business
(Global Business Essay Example | Topics and Well Written Essays - 1000 Words)
Global Business Essay Example | Topics and Well Written Essays - 1000 Words. https://studentshare.org/business/1694318-global-business.
“Global Business Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/business/1694318-global-business.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Global Business

Corporate Law Coursework

12 Pages(3000 words)Coursework

Global Business

...? Global Business GLOBAL BUSINESS Global Business is a term which describes topics relating to the operations of companies’ and firms interested in various countries. Global business occurs because no single country has the resources to produce everything well. Different countries specialize in different goods and they trade with the other countries that do not specialize in those respective items. The basic principle of international or global business/ trading is that countries benefit because each country has comparative advantage in the long run. There are many...
6 Pages(1500 words)Coursework

Global Business

...? Global Business: China will be the focus of the essay Global Business: China will be the focus of the essay Major Cross-Cultural Issues That May Impact Company A’s Marketing Approach Culture can be categorized as a continuum between two extremes: Modern based and tradition based cultures. This grouping may further be described as cultural and economic bound. Modern cultures are driven by the market, as well as competitive post industrialized systems of an economy. The United States is an example of a modern-based culture. In contrast, countries like China are tradition- based, which is featured with the agrarian centralized, agrarian, cooperative, and pre-industrialized...
3 Pages(750 words)Essay

Global business

...? Global Business Executive Summary The report will throw a light on the nature of modern newspaper industry’s business. It will discuss the differentials in the business environment of newspaper industry in the developed and developing economies. However, the report primarily concentrates on the business of newspaper industry in the developed economies. The PESTLE analysis of the project clearly explains the external environment of business faced by the newspaper industry in developed countries. Then the SWOT of The Guardian will help to analyze the internal working of a newspaper company in U.K. The force field analysis would help to implicitly analyze the possible business competition experienced by the newspaper industry due... ., the use...
8 Pages(2000 words)Essay

Global business

...? Global business Table of Contents Introduction 3 Definition of Leadership 3 Role of leadership in corporate organization 4 Discussion 6 Forms of corporate leadership using two or three FTSE 100 companies 6 Analysis 9 Findings 10 Conclusion 11 References 12 Introduction In this age of tough completion and extensive rivalry, the tastes and preferences of the customers are changing with a rapid pace and so the bargaining power of the buyers is also enhancing. Therefore, in order to cope up with such changing trends and patterns, the organizational entrepreneurs are trying to devote high level of concentration over research and development in order to present varied types of inventive products and services....
11 Pages(2750 words)Essay

Popular resistance SC3037C

11 Pages(2750 words)Essay

The Oppressive Legislature and the Actions of the British

2 Pages(500 words)Essay

African American Studies

5 Pages(1250 words)Research Paper

Global business

...Global business Global Business Globalization is becoming inevitable for businesses seeking to exploit the worldwide market potential and enhance competitiveness with other companies. In whatever business sector a company is operating in, cultural differences have an impact on their profitability. However cross cultural differences of certain regions are acting as barrier to business expansion and companies are required to do good feasibility study before joining these markets more so in Asian continent. There are major differences in these region compared to the United States of America (USA)....
2 Pages(500 words)Essay

The General Theory of Employment Interest and Money

15 Pages(3750 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Global Business for FREE!

Contact Us