One of the challenges that significantly affects international trade is the formulation of global trade strategies and the implementation of established strategies. Administrators and policymakers who are solely responsible for facilitating international trade continue to interfere with the global trade process (Taylor 2007, p. 39). In order to meet the challenges of international trade, individual countries need to implement several measures and policies to facilitate and improve international trade. Participating countries should therefore adhere to a set of standards to regulate logistics associated with international trade transactions (Oliver 2008, p. 123). Another challenge facing international companies is the rising cost of conducting international business. The costs incurred in international transactions range from the cost of trade in goods or services such as customs duties and quotas to costs that involve direct ownership, such as the participation of foreign employees in world trade, taxes and costs due to corruption in the international trading system. Technological advances have enabled a multinational enterprise economically to establish the different stages of production in different countries; This has significantly fostered the growth of international trade, as it has expanded the activities of various international companies globally (Moore & Harris 2010, p.
27). International trade refers to commercial transactions or commercial activities that typically take place between two or more countries. Commercial transactions involve a wide range of activities carried out either by the governments of nations or by private investors who can do business internationally with other investors in other countries (Rugman & brewer 2003, p.105). Diamond, E. D, 1995, Contemporary challenges: American business in a global economy, New York: New York University Press. The biggest challenge lies in global corporate governance; Today`s global management requires more than just ordinary management to ensure the smooth functioning of international affairs without interruption. However, the current trend indicates some improvements with the increase in the number of professionals in leadership positions (Taylor 2007, p. 40). 1.0 Introduction When entering the international business market, many considerations must be taken into account, including business, culture, marketing, licensing and strategies. This report will provide XXXXX Brewery with the information and recommendations for each business element that needs to be considered before entering the international market.
2.0 Economic Environment There are a number of economic issues that Brewery XXXXX must take into account. The first issue. Different countries have different diplomatic relations with other countries, which significantly determines international trade; Poor diplomatic relations between two countries or countries in the region affect international trade between countries. The foreign policy of a particular nation also plays an important role in determining a particular nation`s participation in international trade (Feenstra 2004, p. 56). E-commerce resists geographical orientations, which can be an obstacle to the development of international trade. Advances in technology have reduced the costs associated with transportation, marketing and communications on a global scale. Concepts can work well together, but they can also complicate the inner workings of a company. Leadership style forms the basis of how a profession is practiced. Business ethics keeps the organization in order, but can set a company back with violations of ethical principles. Identity creates a successful business when employees use their identity as sellers for the benefit of the business rather than for their own benefit. Mamet also uses management style, business ethics and identity to show the elements of a company and its employees.
“International Trade – Challenges and Opportunities.” IvyPanda, May 8, 2020 ivypanda.com/essays/international-business-challenges-and-opportunities/. IBM has demonstrated for many years the successful transition from a global company to a fully integrated company on a global scale. In this way, the company has been able to evolve and achieve massive growth by simplifying technological processes and sharing resources around the world in a very efficient way. .