International Marketing - Essay Example

?Insert Insert Grade Insert Insert International Marketing Introduction Internationalization of businesses is an increasingly important concern for business in the contemporary society. With the complexities of a highly globalised business environment, businesses are finding themselves in challenging situations. While on one hand there are locally controllable factors that firms have been established because of experience and growth, on the other hand they are presented with different challenges at international level due to different issues in different countries. As a result, management of businesses has to constantly review their strategies to adjust to the challenges of internationalization. This paper examines two issues in international markets that have a direct impact on business expansion. The said issues are ethics and the global perspectives of international expansion. The various components of the two issues will be examined for the purposes of creating and understanding and recommending the best means of approaching internationalization. This will be done with close reference to Ooredoo; a leading communications company. Ooredoo Company is an Asian based company that deals in mobile telephony, provision of broadband and other digital technology components like fibre optics among other communication related products and services (Ooredoo 1). Ethics Ethics generally refers to moral principles attached to individuals or organizations on the basis of certain values in the society. Ethics has emerged to be an important issue for organizations globally. With constantly changing trends, issues and values the burden passed to organizations has been overwhelming (Kline 3). As a result, companies with ambition to expand internationally, like Ooredoo, have to understand the issues of ethical concerns in the different countries of operation. The four components of ethics that will be closely examined include awareness, beliefs, consequences and decisions. To begin, the company will need to be consciously aware of the differential ethical concerns in the different markets so that it is able to competently work on them. This approach is based on the model of stakeholder satisfaction. In effect, the company will have to make decisions based on the interests of its customers, governments, employees and other key partners in the different markets it will operate in. There are various operational actions that will vary with particular business environments that need to be taken into consideration. Differentiation of products or services offered by the company will therefore have to follow highly integrative guidelines for the success of its operations. For instance, Ooredoo is a communication company and therefore it will have to take into account the various communication habits of the different countries it intends to establish itself. The company will also have to be aware of legal provisions that are aligned to ethics which may be varying. Recognition of the mentioned and many more will enable the organization effectively strategize on its expansion plans. Secondly, the belief system of various countries may have an impact on the business strategy. The company will have to incorporate the various moral values and principles into its business culture according to the needs of the customers and society it will operate in. For instance, honesty, integrity and trust may be some of the varied values that may be differently preferred to by various customers according to their country of origin’s belief system. As a result of the beliefs, there might be consequences the company will have to face in the different regions of operations. The cultures of communities have a potential of pushing businesses to align to their demands. Same is the social components that have a connection with ethical concerns. Different countries, for instance, have consumer lobby groups that may demand for certain ethical standards to be met by companies. An organization like Ooredoo will therefore have to look at ethical issues in the communication industry that have been viewed differently by consumers like the issue of being socially responsible to the society by being able to support the vulnerable. Consequently, decision making will also have to be aligned with the various ethical dimensions in operating countries. For example, top management will have to look into the ethical issues related to investments or new product introduction in the new markets before arriving at viable options. Global Perspective Just like the discussions on ethical influence to internationalization, globalization perspectives also make important components for the company’s strategy formulation. Globalization generally refers to the process by which international boundaries are opening up to business and free socialization, corporation or integration. A company with the ambition for expanding its operations beyond the local markets has a challenge of first being aware of the various needs for globalization as well as on the way it will have to approach foreign markets through product or market globalization. Globalization push has been largely associated with the benefits companies may derive from expansion of markets and thereby taking advantage of market diversification as well as the economies of scale in production (Choy 5). There are various factors that have been major drivers of globalization that will be relevant for Ooredoo group in its expansion project. First is technological innovation especially in the area of information and communications technology of which the company operates in. The efficiency and accuracy of passing information has enhanced the process of creating a virtual world devoid of borders. Other push factors have been increased liberalization of markets and political stability within international and regional boarders. For particular markets, the company will have to identify the major facilitators of globalization for appropriate entry strategies. Factors in international trade are also important to the expansion planning process. The company will, for instance, have to take note of the various restrictions or economic barriers that exist in the target markets. For business to operate effectively, it will be important for the company’s management to examine the socio-cultural influences on product consumption and the values that are attached to service in the respective regions. Lastly, given the challenges of globalization noted above, the strategic positioning of the company with regards to different market issues will be important. The company will have to engage in product differentiation and market segmentation strategies, for example, so as to penetrate different markets. Conclusion Ethical and globalization concerns raised above are therefore significant for the success of Ooredoo’s internationalization plans. The company will have to involve its research and design department to ensure that all the issues are well understood before management arrives at viable projects. With the opportunities presented by globalization and market liberalization, it is evident that so long as the company will be able to understand and act on different ethical and global perspective concerns, success will be more than guaranteed. As a leader in the provision of communication products, it is important that it maintains this position even in the identified international markets. Works Cited Choy, William. Globalisation and Workforce Diversity: HRM Implications for Multinational Corporations in Singapore. Singapore Management Review, 29, (2), 2007, p.1-19 Kline, John. Ethics for International Business. London: Routledge, 2005. Print Ooredoo. “Vision and Corporate Profile.” Ooredoo, 2013. Web. 30 April, 2013 Read More