Question

Critically evaluate the factors that may lead a business to choose the countries that it chooses and the driving forces behind its international business initiatives

Answer 1

The cultural difference may be deciding whether or not the company is successful. If the product or service does not add value or fulfill the local markets' wishes, there is no need to go sailing! It is important that you have an intuitive understanding of who lives and what they value in the society. Consider what's next: It 's extremely necessary to know how to conduct business in the "local" markets. Do not underestimate the effects of differing cultures. To pursue an overseas venture you need to be able to spend considerable time and money. Seek to understand society first.

It is possible to do business in international markets if the company is versatile enough to operate under the framework of local laws and regulations. Aspects of analysis such as: It is strongly recommended when evaluating legal and regulatory obligations that you obtain qualified legal counsel for overseas business practices to recognize hazards that that pose barriers to your business. Don't skimp on the expense of having legal advice from overseas experience, it will save you long-term.

Local government stability and its authority are very relevant when exploring options for overseas market.
Stability of government holds the key to contract honesty, employee protection and privileges, trademark and intellectual property, and many other facets of business behaviour. Until considering any international expansion, make sure to look for "local" information about the political and business factors.

It is important that the business case is sensitive to the difficulties, obstacles and rewards of overseas expansion. Such approaches which should be considered are: Carry out a market analysis to consider the nature of the market, economic feasibility, industry dynamics, financial cost patterns and business forecasts
Do a financial feasibility report to assess if the move makes sense financially
Intellectual property and trademark rights and the identification and enforcement of patented business needs by government authorities at that location