INT 220 Business Brief Milestone 1 Submission (AutoRecovered)

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INT 220 Business Brief Template Course Project: Milestone One Lucy Kelly INT 220 Global Dimensions in Business Dr. Matasha Murrell Jones Jan. 20, 2024

Section One: Drivers for Global Entry Country Selection I propose that we begin to market our phone cases in Japan, a technologically focused country that is one of the top economies in the entire world next to China and the United States (Silver, 2023). Purpose of Global Expansion There are many benefits to moving our domestic organization into international markets. Increasing the size of our market will increase our revenue simply because we will be able to reach more people. It will help to hedge the risks by diversifying our market reach instead of putting all our efforts into one domestic market. (Global expansion opens the possibility for higher profits, access to a larger talent and labor pool, and can increase our competitiveness with other companies in the same business (Dunung, 2019). Once we begin to move into one international market, we will have opportunities for further growth into adjacent markets and continue to grow globally, instead of domestically. There is only so much growth that can happen within our domestic markets, and as sales have flatlined, it would seem we have reached our full potential. An international market has unlimited potential, and if our phone case company is going to grow, it will be as a global company. Business Impacts of Global Business Moving into a global market will have a big impact on our business operations. Strategic planning, supply-chain management, marketing, and human resources are some examples of

departments that will need heavy planning and monitoring during the integration process. Strategic planning will need to take into consideration the new market economy, laws, international trade regulations, and culture. When creating an entry strategy, this team will need to consider forming trade alliances, and understanding competition is also important for developing an effective entry plan (Duran, 2023). The supply chain management must consider separate pricing strategies and understand the country’s transportation and distribution. The supply chain management team must expand the scope of its analysis by considering any situations that could hinder or improve trade in Japan such as wars, politics, natural disasters, and economic changes (Dunung, 2019). Importing and exporting overseas can have a lot of risks, so tariff laws, shipping costs, and transportation must be carefully managed. Marketing strategies must be backed by proper research into the wants and needs of Japanese society. It is essential to understand the culture for marketing plans to be effective since a strategy that works in the United States might not work in Japan (Tanner & Raymond, 2023). There can often be communication barriers when entering a new market. An example of this is the difference between high-context and low-context cultures. Japan is a high-context culture, which means they rely on reading between the lines or “reading the atmosphere” (Tamaki, 2022) because meaning can often be implied through more than just words. The United States is a low- context culture, which means they take things at face value and communications are direct and sometimes repetitive (Tamaki, 2022). This can completely change the way advertisements are understood in different countries, so the marketing team must do careful communications research. Human resources management is another important part of expanding into international markets. Some examples of things the Human Resources team will need to consider are labor

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laws, compliance requirements, employee relations issues, and immigration laws. Managing people from across the world, who speak a different language, and have different cultural and workforce expectations can pose many difficulties, but proper research and forming relationships and developing employee relations can help resolve issues that might arise. Societal Impacts of Global Business Global expansion has impacted society in both positive and negative ways. It impacts the culture when new businesses begin to bring their marketing, products, and ideas to new areas, which influences the way people might dress, eat, shop, or view each other. For example, McDonald’s has brought American fast food to many areas of the world. In China, McDonald’s influenced society by promoting lining up and self-seating in restaurants and introduced the culture to new, American foods by adapting its menu to be appealing new countries (Watson, 2000). Global expansion also impacts transportation and infrastructure, because as businesses grow they begin to open more factories, offices, or restaurants and transportation systems are usually also increased to allow for more shipping. This can have a positive impact because it increases the employment rate, improves roads and transport efficiency, and expands townships and cities. These same things can also negatively impact the community as businesses buy up land and force locals to move (Dunung, 2019). The new infrastructure, factories, buildings, and increase in boats, railways, and planes have a large impact on the environment since these all create a lot of pollution. Global expansion might be beneficial for the economy and business, but not necessarily for the environment.

Cultural Considerations for Global Business When entering a global market, it is important to understand the country’s culture. Culture can affect customer retention, relationship building, communication, marketing, trends, and consumer habits. Language barriers and communication issues can impact how people view the new business and be detrimental to marketing campaigns. Learning how to appeal to consumers in a new country takes research and understanding. Some cultures are more loyal to known competitors and some cultures have unique tastes and preferences. An example of a successful market entry is McDonald’s opening stores in India and adding a McSpicy Paneer to the menu to appeal to Indian culture. Target, on the other hand, failed to enter Canada due to a misunderstanding of Canadian preferences and issues with inventory management (Britt’s Imperial University College, 2023). Culture is what defines a society, so a business will fail if they do not understand the character of the country they are attempting to enter.

References Dunung, S. P. (2019). Global Business Management v1.0 . Flat World Knowledge. https://mbsdirect.vitalsource.com/books/978-1-4533-9363-5 Britts Imperial University College. (2023, May 20). The differences and similarities between international business and Domestic Business . LinkedIn. https://www.linkedin.com/pulse/differences-similarities-between-international-business/ Duran, F. (2023, April 18). Strategic Planning for International Expansion: A Comprehensive Guide for Success . LinkedIn. https://www.linkedin.com/pulse/strategic-planning- international-expansion-guide-maga%C3%B1a-dur%C3%A1n/ Esposito, F. (2022). Demand risk and diversification through international trade. Journal of International Economics, 135 , 103562. https://10.1016/j.jinteco.2021.103562 Silver, C. (2023, December 15). The top 25 economies in the world . Investopedia. https://www.investopedia.com/insights/worlds-top-economies/ Tamaki, S. (2022, January 1). High context vs. low context communication in the Japan workplace . Inventure. https://www.inventurejapan.com/culture/high-vs-low-context- communication Tanner, J., & Raymond, M. A. (2023). Applied marketing strategies (2nd ed.). Soomo Learning. https://www.webtexts.com

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Watson, J. L. (2000). China’s Big Mac Attack. Foreign Affairs , 79 (3), 120–134. https://doi- org.ezproxy.snhu.edu/10.2307/20049734 Why do business in Japan? . Export to Japan. (2023, November 25). https://exporttojapan.co.uk/guide/getting-started/why-japan/

INT 220 Business Brief Milestone 1 Submission (AutoRecovered)

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