Int 220 Module 1 Assignment

docx

School

Southern New Hampshire University *

*We aren’t endorsed by this school

Course

220

Subject

Business

Date

Feb 20, 2024

Type

docx

Pages

Uploaded by Lainemm123

Laine Arguelles Int.220, Module 1 Assignment Professor Kenneth Skeen 1/11/2024

Why Expanding Globally Benefits your Business According to “ Global Business Management” “globalization—the shift toward a more interdependent and integrated global economy—creates greater opportunities for international business (Dunung, 2019)”. “ Global Business in Management” also states, “International business involves the transfer of goods, services, or resources between two or more countries. It goes beyond just buying and selling physical products and can also include the transfer of resources such as people, intellectual property (like patents, copyrights, trademarks, and data), and contractual assets or liabilities. ( Dunung, 2019)”. Domestic and international business environments have unique characteristics that differentiate them from each other. Domestic business transactions are conducted within a country, while international business transactions involve two or more countries. The following are some of the key features of each type: Domestic Business Environment: - Area of operation: Within the country. - Quality standards: low. - Deals in: A single currency. - Capital investment: Usually less. - Restrictions: few - Nature of customers: Homogeneous.

- Business research: Can be easily conducted. - Mobility of factors of production: Unrestricted. International Business Environment: - Area of operation: Worldwide. - Quality standards: Very high. - Deals in: Multiple currencies. - Capital investment: Often enormous. - Restrictions: Many. - Nature of customers: Heterogeneous. - Business research: Difficult to conduct. - Mobility of factors of production: Restricted. Kimberly-Clark is an exemplary company that is worth following. Founded in the 1870s, the company has expanded globally through innovation and diversification. According to its official website, Kimberly-Clark started as a small paper mill company and later diversified its products. Today, it is one of the leading producers of consumer tissue and personal care products familiar to you like Huggies and Kotex, operating in over 175 countries around the world. Its products are sold in more than 150 countries. The company's goal is to improve the lives of one billion people in need worldwide while minimizing its environmental impact. Kimberly-Clark

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

has a dedicated workforce of 45,000 employees who strive to fulfill the company's mission of providing better care for a better world (About Kimberly-Clark, n.d.). Expanding into global markets can be beneficial for a business in many ways. According to an article on Airswift's website, the expansion of a business into new markets can yield various benefits, including but not limited to an increase in market size, competitiveness, diversification, and access to new talent and resources. The entry of a business into a new market allows it to access a larger customer base, which in turn leads to a rise in revenue, overall growth, and success. This is because a business can leverage the opportunity to cater to a larger group of potential customers who are interested in their products or services, by operating in new markets. (Airswift). According to Dunung, proponents of international trade and investment contend that globalization has led to economic expansion and the generation of numerous job opportunities. By introducing more options to consumers and promoting competition among businesses, globalization has facilitated the growth of investment in less-developed countries. This, in turn, has contributed to the construction of crucial infrastructure such as roads, airports, and factories (Dunung, Ch.1, Pg.42, 2019). Moreover, according to Airswift, expanding into global markets gives a business a competitive edge by providing access to new customers and markets. A business operating in one market may face disadvantages compared to its competitors operating in multiple markets. According to Kimberly-Clark's website, diversification is also crucial for businesses to have strategies in place that can help mitigate the impact of market fluctuations and changes in customer preferences on the business. Many key factors need to be assessed before moving internationally for your business. According to our text in “G lobal Business Management ", “global business professionals conduct stakeholder analysis to understand how operations in

different countries impact the overall corporate strategy, (Dunung, 2019).” Benefits of globalization include more profits and higher margins for stakeholders. Barriers across borders should be assessed culturally, administration, geographically and economically, according to “Global Business Management ,” using the analytical framework (CAGE), “used to understand country and regional differences along the distance dimensions of culture, administration, geography, and economics, (Dunung, Ch.1, Pg. 40, 2019).” Finally, according to Airswift website, expanding into global markets can enable a business to access new talent and resources, which helps in diversification and competitiveness, and innovation. According to our text “ Global Business Management ,” it states that, “The field of ethics is a branch of philosophy that seeks virtue. Ethics deals with morality about what is considered “right” and “wrong” behavior for people in various situations. (Dunung , Ch.1 Pg. 45, 2019)”. In the globalization of a company ethics must be at the forefront of the decisions in place for the company. The ethical considerations for businesses include ensuring consumer safety before expanding to other countries.

References About Kimberly-Clark . (n.d.). Www.kimberly-Clark.com . https://www.kimberly-clark.com/en- us/company/about-us # Airswift. (n.d.). Global Mobility Solutions & Expertise by Airswift . Www.airswift.com . Retrieved January 11, 2024, from https://www.airswift.com/services/global-mobility/ Dunung, S. P. (2019). Global Business Management v1.0. Flat World Knowledge. https://mbsdirect.vitalsource.com/books/978-1-4533-9363-5 S, S. (2016, June 15). Difference Between Domestic and International Business (with Comparison Chart) . Key Differences. https://keydifferences.com/difference-between- domestic-and-international-business.html#Definition%20of%20International %20Business

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Related Documents

Week 4 Crossfit at the Crossroads.docx

Week 2 Industry Analysis.docx

ITEC 610-MIDTERM.docx

ZooRateAssignment #4F.docx

BUS225_Module_One_Assignment, Kimberly-Clark Stretegy to Diversify.docx

BUS225_Module_Four_Assignment.docx

BUS225_Project_One.docx

BUS225_Module_Six_Assignment.docx

Case Study 1.pdf

Topic 2 - Clinical Field Experience A - Program Leader Interview.docx

Topic 3 - School Budgetary Needs Assessment Survey.docx

Principal Interview.docx

Recommended textbooks for you

Marketing

ISBN:9780357033791

Author:Pride, William M

Publisher:South Western Educational Publishing

Management, Loose-Leaf Version

Management

ISBN:9781305969308

Author:Richard L. Daft

Publisher:South-Western College Pub

MARKETING 2018

Marketing

ISBN:9780357033753

Author:Pride

Publisher:CENGAGE L

Purchasing and Supply Chain Management

Operations Management

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Cengage Learning

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

SEE MORE TEXTBOOKS

Recommended textbooks for you

Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
MARKETING 2018
Marketing
ISBN:9780357033753
Author:Pride
Publisher:CENGAGE L
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College