Planning a Global Bussiness Enterprise 1. Identifying Global Business Opportunit
ID: 468257 • Letter: P
Question
Planning a Global Bussiness Enterprise
1. Identifying Global Business Opportunities
Determine potential international markets for existing or proposed goods and services
2. Analyzing International Competitors
Identify domestic and international companies involved in similar business global business activities.
3. Assessing the Economic-Geographic Environment
Examine geographic and economic factors that affect the business environment of a nation.
4. Assessing the Social-Cultural Environment
Research social institutions, customs, traditions, and beliefs influencing business.
5. Assessing the Political-Legal Environment
Research the influence of government and regulations on business activities.
Explanation / Answer
1. doing business in gloabal wise is more difficult to the firms rather than doing business in a nation or region. because the climatic conditions are completely different from nation to nation and region to region. the people living styles, their habits, attitudes, buying patterns, buying behaviors; everything is different from one anonther. even to launch a product it should be consider all legal conditons, regulative requirements and all competitive laws in every nation. a simple example is that: steering is left side in the vehicles in India where as it is in right side in US to the 4 wheelers.
doing business around the globe is an unprecedented educational and cultural program aiming to create a working group among youth from two (or more) distant and different cultures, to identify business opportunities and develop entrepreneurship skills.