Project #84024 - response to the professor

My discusstion: 

Reading the chapter, global business, has opened my eyes to the global horizons as far as doing business internationally is concerned. Today, as seen in most parts of the reading, many companies are striving to achieve international recognition, a factor that would contribute to increased markets and profits thereof. Companies contending in the global scale seek to enjoy economies of scale that come with running business internationally. However, this does not fail to come with its challenges. One of the biggest challenges entails dissimilarity of market between the mother country and the foreign country or market. Normally, product tastes and preferences differ considerably from one region to another. Introducing a product to a new market becomes very challenging. Another challenge with contending globally is the aspect of trade restrictions that also vary as one move from one country to another. For instance, some countries tax products heftily which others are more lenient on certain products. Therefore, copying with this difference may put off a company from further expansion.
The challenge of unequal markets can be offset by employing basic marketing techniques that do not involve a lot of initial expenses to implement. This may involve such methods as door to door marketing or reliance on word of mouth. On the other, the challenge of trade restrictions can be counterweighed by operating within integration blocks formed by countries sharing common economical aspects. In these blocks, trade restrictions are more relaxed and businesses tend to flow smoothly.

 

The professor's response: you mentioned 'economies of scale' - in your own words what does that mean? How does this impact global business?

Subject Business
Due By (Pacific Time) 09/27/2015 12:00 am
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