Question

Week 1 – Question 1

“The study of international business is fine if you are going to work in a large multinational enterprise, but it has no relevance for individuals who are going to work in small firms.”

Please answer this with Harvard Referencing without plagiarism. thank you very much

Answer 1

To a point the above statement can be considered correct but it actually other way around. Multinational Enterprise is a kind of business which has roots in many countries and deals with import and export of products. International Business has emerged as a subject taught in many universities these days. There are many international brands that want to setup their businesses in local areas of other countries. For this, they need a knowledge of the local needs and perspective of the consumers. Then only they can succeed.

After the globalization of the economies, international trade borders have opened up and have increased the scope for foreign trade. Talking about small firms, they need to study international businesses as well to know the ongoing trends and technologies that might help them being cost effective. This way they can learn both from local as well as international business. Similarly, person working with MNC will have to study local businesses as well as local customers of the area they want to launch their product or expand their business in. A business grows from base level only and their is no shortcut to big Multinational enterprise. They also start from being a small business.

Many small businesses are in export businesses which needs international knowledge beyond that of local business. Similarly MNC wants to increase businesses to local level also. If the local firms have international knowledge, then MNC can outsource a part of their work to them also. The international knowledge can also be applied to local level for expanding businesses in a different manner which may attract more of customers.

Reference in Harvard style -

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LÉVY, B.

The interface between globalization, trade and development: Theoretical issues for international business studies

2007 - International Business Review

In-text: (Lévy, 2007)

Your Bibliography: Lévy, B., 2007. The interface between globalization, trade and development: Theoretical issues for international business studies. International Business Review, 16(5), pp.594-612.

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DEHBOKRY, S. AND CHEW, E. K.

Developing Business Architecture for SMEs: A Strategic Tool for Capability Orchestration and Managing Dynamisms

2015 - Journal of Innovation Management in Small and Medium Enterprise

In-text: (Dehbokry and Chew, 2015)

Your Bibliography: Dehbokry, S. and Chew, E., 2015. Developing Business Architecture for SMEs: A Strategic Tool for Capability Orchestration and Managing Dynamisms. Journal of Innovation Management in Small and Medium Enterprise, pp.1-9.