Category: Business

Before You'll check out our finance paper sample from our professional writers remember that if you looking for someone who can write your white paperbusiness plan, or other finance paper from scratch - you came to the right place! Put the requirements of your assignments into the order form and make a payment and put the rest of your work on the shoulders of our writers! 

Get a price quote

Entering the International Market

Risk

Importer

Exporter

L/M/S

How to Overcome It

Economic conditions

 

X

L

Develop flexible price policies

Fluctuations in industry

 

X

M

Study the external environment in depth

Competition

 

X

 

Analysis of the external environment and the competitors; focusing on the advantages of the business and improving it

Technological change

X

 

L

Invest into the technological development of the business

Change in preferences

 

X

S

Monitor the preferences and reaction for the demand

Costs and expenses

 

X

 

Create the relevant budget and control its realization

Regulations

X

 

M

Fully comply with the requirements of the legislation

Expropriation

 

X

L

Fully comply with the requirements of the legislation; hire a lawyer

Interest rates

 

X

M

Flexible financial policy

Government monetary policy

 

X

S

Use the services of central banks

Government fiscal policy

 

X

S

Use the services of central banks

Internal and external wars

 

X

M

Develop alternative transportation routes

The difference in culture and religion

X

 

L

Study the features of other cultures and religions, considering them in daily work

Ownership of factories and property

 

X

M

Control internal documentation

Human resource restrictions

X

 

L

Investment in the development of human capital

Intellectual property

 

X

M

Fully comply with the requirements of the legislation

Discrimination

 

X

 

Take into consideration the religious or national differences

Red tape and corruption

X

 

M

Establish a clear communication policy

Blockage of funds or capital accounts

X

 

L

Using several accounts in different banks

Change in government

 

X

L

Fully comply with the requirements of the legislation

Don't waste your time!

Taking into consideration the importance of business development, as an owner of a big local business, I have decided to enter the international market. I am the owner of a company that produces a variety of confectionery products, such as candies, cookies, and different kinds of chocolate. I have been operating inside the country on the national level. My business has to be expanded to defeat the competitors and increase the income. However, entering the international market is connected with a variety of risks for the business and the industry. This important step in business development requires serious preparation, such as learning internal and external environments.

Economic conditions and fluctuations in the industry can hurt the activity and business expansion. Economic conditions, such as inflation, unemployment, fluctuations of the currency exchange rate can lead to a price increase. I will be forced to buy ingredients for producing higher prices or to increase the salaries. All these factors can lead to negative economic consequences for my business.

Use code first15 and get

15% OFF your 1st order!

Order Now

Competition between similar businesses in the industry is another risk. The food industry is an important sector of the economy, and, of course, such a business has competitors. These competitors can enter the international market faster than my company. To overcome it, I, as an owner of the business, should monitor the external environment, foresee the competitor's next steps towards international markets and react to these factors on time.

Technological change is another risk for the industry. Equipment for producing the confectionery products can be old. I should update manufacturing equipment because new equipment makes it possible to produce confectionary production faster and of better quality, thus increasing productivity.

Do you have only a couple of days or even hours to prepare you essay writing? Our writers will cope with your order in timely manner!

The government would encourage the decision to expand the business. If my business will enter the international market, it will provide new opportunities for my business and local economics. There are many advantages of expanding my company for various stakeholders, such as the government, employees, local community, international community, and my business, of course. Access to the international markets will increase the company's income, which, in turn, will cause an increase in the amount of taxes paid to the state budget. International activities will positively affect the country's image in the international space. In addition, this will improve the reputation of my business in the local community (Dlabay, Scott, & Scott, 2010, p. 8).

Need custom written paper?
We'll write an essay from scratch according to yout instructions!
  • Plagiarism FREE
  • Prices from only $12.99/page
Order Now

Expansion of my business will allow creating new workplaces inside the country and abroad. Entering the international markets is possible only when using modern methods of management. Detailed marketing strategy is important in the current conditions of stiff international competition. As a business owner, I should implement a system of international marketing. International marketing is systematic, planned, and active processing of international markets at different stages of the movement of confectionery products to the buyer. While implementing the system of the international market, I should take into consideration the features of the individual foreign markets. The international market has put forward additional requirements for marketing. Research of external markets is more difficult than research of internal markets. After all, the staff of the company has to estimate reliable sources of market information, specialized firms of consultants, and other intermediaries. International marketing usually requires the use of unusual ways of management, flexible and creative application of several approaches to promote products in overseas markets. Together with my employees, I should ensure that the quality of the goods, packaging, design, and advertising is done according to the international business standards. The industrial complex of my company should match the modern scientific and technical levels. Staff in my organization should be able to develop strong relationships with foreign representatives and professionally organize international bidding, exhibitions, fairs, conferences, and more (Zou & Fu, 2011, p. 8).

How it works
Order paper icon
Step 1.
Visit our order form page and provide your essay requirements
Order paper icon
Step 2.
Submit your payment
Order paper icon
Step 3.
Now check your email and see the order confirmation; keep it and use for future reference
Order paper icon
Step 4.
Log in to your personal account to communicate with the support and the writer
Order paper icon
Step 5.
Download the finished paper
Order paper icon
Step 6.
Provide customer satisfaction feedback and inform us whether we did well on your task

In addition, traditions and requirements of foreign markets matter. They are associated with national legislation, particularly the features and psychology of the local population, religious characteristics, mentality, and customs. As an owner of the business, I should take into consideration these factors when entering external markets. Improving communication is an important step of business expansion. Effective international communications are essential for business continuity. In the process of international communication, together with my employees, I have to overcome the communication barriers, such as language barriers, barriers of perception, and influence of culture.

One of the main tasks that I can face is to coordinate and monitor long-term international operations, to study in detail the complex problems, associated with political risks, competition, and unstable exchange rates.

Entering foreign markets is normally a long evolutionary process. The systematic, gradual acquisition of experience in foreign economic activity is the best way to succeed. In any case, it will lead to business development and contribution to the welfare of society.

Get a price quote

Related essays