Businesses of all sizes‚ whether from the old or new economy‚ increasingly see the entire world as a source of business opportunities 7. Why? • World is becoming one connected economy • Any company from any country can become a competitor • The internet crosses national boundaries – the click of a mouse allows even the smallest of businesses to go global immediately • Companies can no longer afford the luxury of assuming that success in their home market equates to long-term profitability
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International Business Strategy Dr. Wu Zan **What is International Business ? - Business : Intergration of different functional areas (HR‚ Accounting‚ Finance‚ Strategy…) - International Business : business activities conducted across cultural and national boundaries. - Real life examples : We are living the age of international business and globalization. Ex : Australia = its government is negociating a free trade agreement with China‚ its biggest international partner in business. In the past
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* a. Choose the income statement of particular year. * b. Split up costs in fixed and variable the best you can. * c. Look for an average price per motor bike to determine how many bikes Envy Rides has sold. * d. Calculate the variable cost per cycle sold‚ and assume it is constant. * e. Draw graph with MC-curve (at the level of the variable cost per cycle)‚ and the average total costs curve. * f. Be sure to have number of cycles sold on the horizontal axis. Income
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long-term commitments and respect for traditon b. High- tends to support a strong work ethic where long-term rewards are expected as a result of today’s hard work c. Low- does not reinforce the concept of long-term‚ traditional orientation; change can occur more rapidly as long-term tradtions and commitments do not become impediments to change 5. Power Distance Index a. Inequality b. High- ranking indicates that inequalities of power and wealth have been allowed to grow within the society; follow
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2009). In 1993‚ Robert J. House launched the Global Leadership and Organisational Behaviour Effectiveness research program (GLOBE). This was meant to examine how leaders relate to culture. In more than six years‚ investigators from over sixty different cultures have been involved in this research. The researchers asked the middle managers how cultural differences have affected their leadership. The second phase of the research showed that some leadership attributes are impediments to outstanding leadership
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International business negotiation 1 Introduction Sensitivity to cultural differences is very important in today’s international business arena. Culture profoundly influences how people thinking‚ communication and behave. Nowadays‚ business executives are finding themselves in precarious situations due to culturally rooted differences in business protocol‚ language and value system. Therefore‚ being aware of the influence of culture on international business negotiations and the proper
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in any business decision. Laws and regulations passed by either local‚ regional and central government bodies can affect foreign firms’ operations. Also‚ firms are comfortable assessing the political climates in their home countries. However‚ assessing the political climates in other countries is still problematic. Classification and description of political risks When doing international business‚ the manager may face several types of financial risks. The major types of financial risks are commercial
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The Risks of Doing Business in China Despite recent measures to curb corruption‚ foreign investors doing business in China must remain vigilant. Tuesday‚ June 04‚ 2013 ‚ By Jim Barratt and Jimmy Ko China’s economy is the second-largest in the world and continues to grow at an astonishing rate. Just recently‚ in fact‚ the Asian Development Bank forecasted that China’s economy will grow by 8.2% this year. However‚ while economic growth brings business opportunities to all investors‚ continued widespread
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Assignment Three Part One: Legal Issues – These are laws set by the government. That are essentially rules that a business must follow. They are designed to keep both the consumer and the business happy and ensure that everyone is treated fairly. Vue must follow these rules or they may be prosecuted and faced with a punishment such as a fine or‚ I extreme circumstances‚ forced closure of a business. Data protection Act –The Data Protection Act is set up to stop businesses unlawfully sharing customers
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Business Revision Topic 1 – Business Organisation and Environment * What is business activity? Inputs – Land‚ Labour‚ Capital & Enterprise Outputs – Goods or Service & Waste. Processes – Research and development‚ Production‚ Marketing‚ Finance‚ Administration‚ Human Resources. * Functions * Production – the changing of natural resources into a product or service. * Marketing – IT is to do with identifying consumer needs and pleasing them. Eg: Pricing‚ advertising
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