International Business Plan

User Generated

avquvcngry1503

Business Finance

Description

you

will be developing an international business plan. The scenario is that

you have a small business in a country of your own choice and would

like to expand on a global level. Select a country of your choice that

you might want to explore doing business in. Each week you have been

working on this. Now it is time to put the plan together. There will be

areas that need to be added, use the "Creating and International

Business Plan" section in the chapters that we covered to fill in these

areas. Based on your findings prepare an 8-12 page report that addresses

the following:

  • Explain the international economy that you will be doing business in. Note any areas that might cause concern and how you intend to address them.
  • Detail the cultural influences in your selected country and how you will adjust to any areas that are outside of your current business practices.
  • Analyze the government and political impact that your business will have to adjust to. Explain how you might mitigate any areas of risk.
  • Explain the optimal type of organizational structure you will use.
  • Describe the most effective type of management style needed for the success of this venture.
  • Determine any foreign exchange issues that might occur and how you will proactive in dealing with them.
  • Summarize the legal environment that you will have to be aware of when doing business in your selected country.
  • Explain the information needs of your business and how you plan to address them.
  • Other needed information that you feel is important.
  • Use at least six (6) quality references. Wikipedia does not quality as academic resources. Credible websites are acceptable.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman or Ariel font (size 12), following APA formatting inclusive of: title page, headers, page numbers, citations and references. The title and reference page are not included in the page count.

Course Outcomes:

Examine the international business environment

Analyze feasibility of entering an international market

Develop an international marketing plan

Course Objectives:

Examine international economies

Understand cultural influences on international business

Analyze government and political impact on international business

Determine the structures and foreign exchange of international business

Examine the international legal environment

Appraise the issues in international business management Determine the Information needs of an international business

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Explanation & Answer

Kindly find the completed work.Bye for now.

Running Head: INTERNATIONAL BUSINESS PLAN

1

International Business Plan
Student Name
Institution
Date

Running Head: INTERNATIONAL BUSINESS PLAN

2

The International Economy.
On my scenario, I choose Dubai, United Arab Emirates where I am going to conduct my small
business. The economy of Dubai can generally be described as a "centrally-planned free-market
capitalism. Currently, Dubai has focused its economy on tourism by increasing its investment so
as to establish more hotels and restaurants.it has also focused on developing more real estates.
This was, therefore, the key economic factor that motivated me towards the establishment of a
small business in Dubai.
It is significant to note that the economy of Dubai is one of the most unique and unpredictable in
the world. This is due to the fact that duties and taxes are not imposed on imported goods. This is
a factor which is so rare to find in any other country. This will, therefore, help in reducing the
production cost of my small business since I will be able to import resources from other
countries without paying any tax. This will be made easier by the existence of many free zones in
Dubai which include; jebel Ali free zone, Dubai Maritime City, Dubai Internet City, and Dubai
Media City. The main issue of concern in this economy is the stiff competition from the large
hotels and restaurants. I will, therefore, need to come up with strategies which can help in
creating a competitive advantage for my small business intend to do so by providing a wide
variety of food in the hotel which will include the American and Italian food. This will attract
more customers to the hotel since people will always want to change their diet and try different
types of food (Zahlan, 2016).
Cultural influences.
The United Arab Emirates citizens generally focus on thinking and updating their welfare based
on a very strong Islamic tradition. It is, therefore, significant for everyone from a foreign country

Running Head: INTERNATIONAL BUSINESS PLAN

3

who is willing to invest in the country to understand this culture because it can present
challenges for them.it is thus very challenging to do business in the United Arab Emirates
without an understanding of the culture.
First, foreign investors must understand that Communication styles will always vary across the
world. This is because different countries usually have different cultures and thus there will
always be challenges for organisations operating outside their home country. Research has
proven that Organisations which seek to do business in the UAE must clearly understand some
of the communication variations that they will encounter. For example, the multiple meanings of
‘yes’ and ‘no’ may differ greatly from their own cultures. The level of formality and directness
in the United Arab Emirates is also difficult to adapt to.
The Islamic religion is also a key determinant factor for the behaviour of the United Arab
Emirates citizens and therefore all investors and potential investors in the country must
understand t...


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