Benefits of Global. Thao Dinh.

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INT-220 Global Dimensions in Business Thao Dinh Southern New Hampshire University October 25, 2023 Benefits of Global Expansion Introduction : In the world of globalization, businesses are not required/ confined to their domestic markets and could expand outside of it. Businesses could expand their business internationally because they can insert themselves into a new market. This will allow them to open their business to new consumers in different parts of the world. Types of Business Environment: Domestic business: When it comes to Domestic business, businesses only operate within their own country of origin or where the business is registered in. Their economic transactions are only conducted within the geographical region. The business does not operate outside of their register country or make any trade outside of it. Their consumers are solely within the country of origin and their products and services are not exported or imported. “ For example, a corporation that is incorporated in Delaware will be considered a domestic business there and a foreign business in all other states.” (Daniel Liberto. 2021)

International business: Refers to as business/corporation are registered in one country but operates in multiple countries. They provide their products and services nationwide and internationally. They import and export their finished products to other countries. International business transactions are contractual agreements that permit foreign firms to utilize services and products. “ The international business environment is a complex network of economic, political, legal, and cultural forces that shape how organizations conduct international business. It consists of external and internal factors that impact a company’s success or failure in different markets.” (Nikhil Pandey. 2023) Example Organization: Domestic organization: An example of a domestic organization would be a grocery store. They sell food and household items to the local community. The grocery store would have chains of its store throughout the certain region. Hannaford is a good example of this. Hannaford is only in the Northeast region, operating in states like Maine, Massachusetts, Vermont, New Hampshire and Vermont. International Organization: An example of an international organization would be Starbucks. Starbucks does not only operate here in the states, but they also operate internationally. They have stores in Japan, China, Mexico, etc. Each of those stores will update their menu to adapt to the consumer in each of those countries and make sure that they fall under that country’s regulation. Benefits of Expansion: International Expansion: The benefit of an international and global expansion is having access to new markets and growth opportunities. This will the business to provide their products and

services to new consumers and promote new products and services. The other benefit is the cost- effectiveness of their productions. Labor is cheaper and the infrastructure costs are low. An example of that would be Apple, they have their products created in Zhengzhou due to the labor is cheaper. “ For years, Apple has relied on a vast manufacturing network in China to mass produce the iPhone, iPad and other popular products found in households around the world.” (Catherine Thorbecke. 2022) Ethical Consideration: When it comes to expanding globally, business must take into consideration the ethical factors of the country that it is operating in. They must have respect for the local cultures, making sure that they are providing fair labor practices and maintaining the sustainability of the environment that the operation is in. “ Ethical issues refer to an occurrence in which a business faces a moral conflict that needs to be taken care of. “(Sarah Weinstein. 2022)

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APA Citation Weinstein, S. (2022). Ethical Issues in International Business . Study.com. https://study.com/learn/lesson/ethical-issues-international-business.html Advantages and disadvantages of Global expansion | Multiplier | Multiplier . (n.d.). Www.usemultiplier.com. https://www.usemultiplier.com/blog/benefits-of-global- expansion-and-their-disadvantages Thorbecke, C. (2022, December 9). Apple made China the backbone of its iPhone assembly. Shifting away could take years | CNN Business . CNN. https://www.cnn.com/2022/12/09/tech/apple-china/index.html Liberto, D. (2021, March 30). Domestic Corporation Definition . Investopedia. https://www.investopedia.com/terms/d/domestic-corporation.asp

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