Understanding Business
Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Chapter 3.2, Problem 1TP
Summary Introduction

To determine: The two arguments favoring the expansion of Country U’s businesses into global markets.

Introduction:

The activity which includes purchasing and selling of goods and service at global level is known as global marketing.

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You are a successful entrepreneur operating a local business for the last five years in your chosen industry. Since your business has grown over the years you have now decided to take your business overseas and are considering two options. The first is to enter another Asian country with your product/service and the other is to enter a country in the South American market. As an initial fact finding exercise you have decided to carry out a detailed analysis of the macro economic factors facing ONE of the two chosen countries. Based on your study prepare a report on your findings.Question 1Based on the above scenario, you are requested to study all the PEST factors:i. Political and Legal factorsii. Economic policies (trade policies, foreign exchange controls, financial markets) iii. Social, Cultural factors (Values and beliefs that directly or indirectly have an impact on your product or service) iv. Technological factors,v. and Ethical business practices that prevail in the market…
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