Two Discussions

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I have already updated my all documents and files. Please follow the requirements to answer the questions, and write the two discussions. Please discussion it and use your critical thinking. Each discussion need to write about 300 words. Thanks!

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Discussion 1: Module 5 Section 1 | "You Are not in Kansas Anymore", What Makes or Breaks International Business The materials outline many critical aspects to “get right” in conducting international business. What are the most important aspects in your view? Files references: 1. How political, legal, economic and technological systems affect international business. 2. Key success factors for taking your business international Discussion 2: Module 5 Section 2 | Structuring International Business Operations for Success What is the best legal structure to use to reduce risk in a new foreign market in your view based on the reading materials (partnership, formation of local corporation, joint venture, acquisition, branch office.) Justify your view 。 Files references: 1. Critical success factors in going Global Key success factors for taking your business international Every entrepreneur that's willing to take their business over the border will have specific goals in mind. Our experience in dealing with international customers has shown us that there are several key factors that can influence success abroad, independent of the nature of the business. Engagement When it comes to activating your potential target audience abroad, there are some key questions to have top of mind. What values do they have? What standards are normal? To get real understanding, you’re going to need to try and get to know your future partners and customers as thoroughly as you possibly can. That means investing the time in people necessary to create genuine involvement. Dedicate energy to building relationships with your new staff, business partners and customers as you acquire them. To do this effectively, it’s important to ensure you have sufficient resources in place before you start out. When it comes to creating engagement, it's necessary to accept that valuable relationships able to stand the test of time aren't built in five minutes. Think across borders Another key concept is the recognition of cultural differences in potential markets. What works well in one region may struggle in another. That makes it important to tailor your communication to the local operation and the peculiarities of doing business there. One size does not fit all. As we said above, finding a local partner and creating a strong relationship with them can be an important step in making this happen. Be sure to take advantage of the knowledge and expertise specific to your new market that they've built up. Their experience in a country where you have little will help make the first few miles of the road significantly less bumpy. The key is to make sure the ambition and the goals are crystal clear to everyone concerned. Make use of everything the internet has to offer The internet is your ultimate research tool. Look at new countries in detail. Which products and services are in particularly high demand in which locations? How does that translate to opportunities for you when potential risk factors around currency or logistics are taken into account? If you look really carefully, and honestly, what other potential complications could be lurking there? Does that vary within a country - per city or other region? The internet can put the information you need to create a competitive, focused, risk assessed strategy within reach. Comprendez-vous? If possible, learning to speak the language of your new target group can be a major plus. Even basic understanding will help to break down barriers and demonstrate your commitment to your new operations. If that's not possible, again look to expert partners for assistance. The right translators can ensure you get your message across with the precision your success at home demanded. Research will help you to identify and locate your new audience, but the quality of your communications, in combination with local cultural awareness, will determine whether or not you are able to turn them into customers. Competitive strategy What exactly are your strengths? Are they as perfectly in line with your new target markets as they could be? Shape your unique selling point as much as possible by comparing yourself with the current competition on location. After getting your strengths clarified, make a short- and medium term plan for each new destination. Which tools and tactics are you going to use to connect customers to your business? Your messaging around your added value will need to be adapted if you're to properly differentiate from the established competition in your new locations. Conclusion Regardless of the proposition you're looking to take abroad, there are important common factors that will determine whether or not your business has a realistic chance of success. Put bluntly, you need to know exactly what kind of person you want to reach out to, and how best to explain to them the difference you're able to make. Given your possible lack of local insight, finding the right partners and building strong relationships with them will likely be an important part of your strategy. Use them to build out your opportunity and threat analysis at each new destination. Be prepared to adjust your initial strategy based on what they're able to teach you. The internet will give you a sound understanding of the potential a new market offers, but it's that genuine local understanding that will really allow you to see if your business has a chance. SOURCE: https://www.exact.com/uk/biz-box/business/key-success-factors-for-taking-yourbusiness-international Critical Success Factors in Going Global Albert Subbloie, CEO, Tangoe The last decade or so has been a major tipping point in the globalization of the business market across all technology sectors and verticals. Many factors have contributed to this, including the emergence of China as a major economic player in the world market, the introduction of the Euro, and the rise of mobile and social technologies, leading to an increasingly connected business landscape. As technology advances, the rate of globalization will only continue. In order to successfully build global presence, organizations need to act quickly and enter regions before their competitors do. Any enterprise that has its sights on being a future market leader should put a globalization plan in place now. I’ve been fortunate enough to take my company global, and will share some advice for other entrepreneurs that are considering how and when to take the next step in their international expansion. Cultural Differences One of the most important factors for any company to understand, regardless of its size or breadth, is that it’s necessary to respect the cultural differences in each region. There is a huge wall in relationshipbuilding within regions, and even within the borders of the countries in each region. This is true of every part of the world: France has different cultural protocols than Germany or Holland, for example. Cultural differences are even more pronounced in a region like Latin America (LATAM) where there are two different primary languages—Spanish and Portuguese. Scaling the Cultural Wall In order to understand the varied nuances in each region, a local presence is vital. For example, when conducting business in Brazil, the company needs to have a publicly facing figure within the region who speaks Portuguese and can act as a “bridge employee.” That is, they know the company inside and out, but also speak the targeted region’s language fluently, have family within the region, and are familiar with all the country’s cultural profiles. This is an important role and may even be the first person the company decides to hire as they remove the gap between the company’s headquarters and operations and the new in-region team. The organization should be prepared to recruit and train from within each region. Evaluating the Market There are two types of customers: local and non-local. For example, a U.S.-based company may have many other U.S.-based companies as customers, which may have businesses in Europe or Asia Pacific. Depending on the company’s business solution, it may be possible in that case to sell from the U.S. and dabble overseas. However, that approach will not work for a company that is based in the UK or Hong Kong. Then, a local presence would be necessary to win local customers. There are also two different types of local presence: distribution channel presence, which can be done directly or through partners, and operational client support/client presence. The end goal is to have both kinds of local presence, but it’s not necessary in every region the company is targeting. For example, a company in Holland can support some of its operations in EMEA. But it is unrealistic to think that an English-speaking company in EMEA can conquer all non-English speaking countries in the region. Pain Points There are also legal implications to consider when going global, and the legal entity requirement when hiring in-region is complex. The organization must set up a legal entity, establish a local bank account, and obtain local counsel and a global accounting firm. It’s important to be patient throughout this sometimes lengthy, but necessary, process. Measuring Success When planning for global expansion, organizations should think through the entire global strategy and align the appropriate resources. Most importantly, they should act quickly. EMEA especially is a very progressive region, and organizations should lay the groundwork for expansion there early. Otherwise, they could find themselves in second place to a local player, or another emerging company that had the vision to enter the market earlier. A good benchmark of whether a company has successfully penetrated a region is when it is seeing 20 - 50 percent of its business from outside its core region. Going global is the next logical step for successful companies that are already seen as leaders in their core markets. And in the race toward globalization, the companies that win will be those that act now. Through a combination of the right timing, appointing local resources, and understanding each region’s cultural differences, organizations can reap the benefits of going global. Albert Subbloie, President & CEO, Founder, Tangoe is recognized as a telecommunications technology and Internet pioneer, Al brings a visionary approach to Tangoe. In 1984, after leaving Andersen Consulting, Al co-founded and served as CEO of Information Management Associates (IMA). Al was among the first to develop and market both call center voice and data solutions for integrated sales, marketing, telemarketing, and customer service activities. He guided the growth of this marketleading company to more than $50M in sales, and more than 300 customers in seven offices worldwide. In 1997, Al co-founded Buyersedge.com and later founded Freefire, a web enabled e-CRM customer interaction software, supporting email response, chat, and remote telephony in an ASP model involving complex data distribution requirements (Freefire was subsequently acquired by Teletech Holdings). As an innovator and visionary, Al is credited with numerous patents. SOURCE: http://media.the-ceo-magazine.com/guest/critical-success-factors-going-global
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Running head: JOINT VENTURE

Joint Venture
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JOINT VENTURE
Joint Venture
Venturing into foreign markets creates a pool of risks that may lead to failure. It is
therefore essential for companies to choose suitable legal structures that will guarantee the
sustainability of the business by reducing some of these threats. The best structure for risk
reduction is a joint venture, a business structure formed by more than two parties for a specific
reason (Yan & Luo, 2016). Joint venture agreements entail shared risks and returns, shared
governance, and collective ownership.
The business structure plays a vital role in the reduction of political risks such as license
restrictions, unstable taxes, and tariff barriers. In this perspective, most countries impose strict
regulations against foreign companies, as a way of protecting local firms from destructive
competition. Moreover, in the case of foreign dominance, some states enforce st...


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