The file that is attached to this study pool assignment is for Part 1 and Part 2. The book must be cited page numbers on both parts and it must be in text citations. Also must use at least 2 additional references which are to be websites that are based in the United States. Failure to do this with the websites will result in an editing to be completed.
Part 1 A (Must be a minimum of 3-6 sentences, with the attachment cited and at least one website that is based in the United States).
After reading the article and the chapter 1 in the book, I believe to have some knowledge to answer the question below ?
What can companies do now to prepare their managers for international markets?
After reading the MTV case, I believe that there are now globalization tools that the managers can use and get some idea of the international markets. There are so many different ways and platforms to get to know the international markets in more detail. One of the things that come to my head straight away is the opportunity to have an internship at that certain country or market for that particular manager, where he will be able to travel to the country and get some research done and check from inside how the local market functions. Or you might have an International employee who knows the local market of his country and he can be the potential manager for that “international” market. Moreover, in the globalization era there is an internet that has all the needed data and information available in order to acquire the international markets. So one of the ways, would be the online research of the market through various platforms and the use of that information to analyze and prepare for the market.
How can entrepreneurs and small businesses with limited resources prepare?
Once again, I think in era of globalization, you don’t need any big resources as all the needed information is online and pretty much accessible as there’s no actual need to travel and make the physical research in that certain market or country. Therefore, there’s so many networking platforms or some agencies that provide the service of analyzing the market for you, it will cost some money but I believe it will be worth it. Lastly, with the globalization starting to peak, there are always a way to find for some information that you are looking for. The only question is how badly you want it and in era of the internet and virtual networking, if you put some effort in you will definitely see some success.
Part 1 (B) Same instructions as part 1 (a)
Conducting business in the international markets is extremely competitive. Although multiple industries are involved in daily international businesses, the larger companies that come from wealthy nations control a large population of the market. For organizations to stay relevant in the international world, they must develop a global mind set and understand the interworking of international business. Embracing globalizations and understanding how other cultures plays a huge role. It is always important to research the market and come up with a strategy with a solid business plan. “Investigate and identify the potential demand for products or services in the various countries you are targeting, the logistics of delivery of goods and the cost of doing business” (Gordon 2016).
Entrepreneurs and small businesses with limited resources have difficultly breaking into international barriers. They must be consistent, communicate effectively and respectfully, understand their international customers, learn how to market effectively, create global awareness, and always stay vigilant of their competitors. “Another need that multinationals must consider is the need among all the world’s people for sustainability-development that meets the needs of the present without compromising the ability of future generations to meet their own needs” (J