Please answer the following question in essay format. Please start by copying and pasting the question at the top of your answer:
There is no word limit. I need you to write enough for me to understand that you have mastered the subject matter. What you consider adequate in this regard is up to your discretion. You must create and write your own answer, make citations where you are quoting other’s work. Please write to me in at the same standard as if you were writing to the President or Board of Directors of your company. Please make sure that you have addressed at least 10 separate points for each question asked. Please do not provide me a mere list of points. Your answers need to be substantiated and arguments supported. Please answer in complete sentences.
Your answers should include, but by no means be limited to, discussion regarding the following: geopolitical factors; (ie. identify predominant political systems; identify relevant political events that could impact selection such as corruption; provide examples of locations, natural or infrastructure created resources etc.; identify relationships in the global community); socioeconomic factors (ie. identify salient cultural, religious, language issues and identifiers; identify key economic indicators; identify key health, workforce, and social indicators; identify logistical issues; identify key economic development issues such as IT infrastructure or other necessary infrastructure for your business. Provide analysis of the above in your answers.
Exam 1: Deciding to embark on expansion into international markets is a big, important, and potentially both risky and lucrative opportunity for a USA based business. What are the major barriers to entry and considerations in making such a decision? Discuss and justify your decisions.
Requirements: 2-3 pages
Answer preview
Social factors like customs, trends, belief systems, practices, language, traditions, and influences are also important to consider. These elements vary across different societies and have a profound effect on the economic activity (Masovic, 2018). They determine customer preferences, what commodities can be produced, and how they can be marketed and sold. In India, McDonald’s had to develop new vegetarian menu items since a large part of the population are Hindus and will not eat beef or pork because of their religion. Language determines how the company will be able to communicate with its workers and its customers. When Coca-Cola entered the Chinese market, their name was written as Ke-kou-ke-la, which in mandarin translates to “female horse stuffed with wax.” Ford Motor Company took its Pinto model to Brazil, but it flopped because that name in Brazilian slang means “tiny male genitals.” It is thus necessary to understand the local language when it comes to branding and marketing to avoid such disasters.
