Chapter 2 Analyzing International Opportunities – International Investigation of Prospective Business Opportunities for Secret Recipe Restaurant – Research Paper – venuarunasalam
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Chapter 2 Analyzing International Opportunities – International Investigation of Prospective Business Opportunities for Secret Recipe Restaurant
Chapter 2 Analyzing international opportunities2.0 IntroductionThis session discusses the important issues involved in the international investigation of prospective business opportunities for secret recipe restaurant. The screening practice for prospective markets and sites consists of four steps. Initially, companies need to classify the basic appeal of this location. This is proper whether the basis for shaping requires for food and beverages menu or else determines the accessibility of basic resources necessary to take out local activities. Next, companies need to evaluate the countrys business environment. This refers to the powers that examine the cultural, political, legal, economic and financial. Third, companies should determine the market or prospective sites, which necessitate the compilation of data as possible. Fourth, companies are obliged to choose the single greatest market or websites, which frequently involve field trips. Firms may face some problems while performing international study:(1) Problems through the data;(2) Problems related to the comparative data(3) The problems caused by cultural dissimilarities between home and target countries.The secondary International data sources, from international organizations, government agencies, industries, trade associations, service organizations, and internet. The methodology used in carry out the research, including major international trade fairs, trade missions, interviews, focus groups, surveys, and environmental scanning.2.1 Screening prospective market and sites The management anxiety problems when examining prospective markets and sites: Keeping costs down search, and check for any prospective markets or locations. The screening progression has four steps:2.1.1 Identify basic appealThe first step in determining the prospective market appeal is the basis for estimating the demand for the secret recipe menu. Related determine standard appeal involves assessing the prospective resources needed.1. Determine the demand basea. The first step means finding out if there is demand for the secret recipe menu. Suitability national climate is important in determining demand.2. Determine the Availability of Resourcesa. Raw materials to serve food must be found either in the country or imported. Imports may have high tariffs, quotas, or other government restrictions imposed.b. Availability of labor is essential for the operation of any country. c. Financing can be a driving force for the restaurant operation abroadd. Market and does not qualify aborted site.2.1.2 Assess the national business environmentIf culture, politics, law, and economics all countries are the same, to make decision where to market or produce will be easier. International managers of secret recipe need to understand these differences and combine it into a market perception and sitting decisions.
1. Cultural ForcesCountries are different in language, attitude to operation, religious beliefs, ethnicity, and traditions. Culture manipulate the outcome of the site selection process, companies sometimes detect the menu on the domestic market when changes need to be made to the physical characteristics of restaurant menu for reasons of culture. Cultural elements such as work ethics, educational attainment, or level of management skills locals influence site selection decision.2. Political and Legal ForcesPolitical forces in addition to the law too played a function in the market and site selection.Government RegulationNations be different in their position in the direction of trade and investment based on culture, their history, and present actions. A governments approach towards trade and investment is be a sign of in the amount and types of limitations it puts on imports. Government rules can promptly get rid of the market or from more reflection. They make barriers to investment to make sure local organize of the company or industry by imposing the regulations on the ownership of the investment business.Government Bureaucracy A bureaucracy lean with smooth operation can push investment whereas the ineffective, complicated, or corruption be able to promote it. Companies resolve last bureaucracy is ineffective if the profit outweigh the costs inefficiency.Political StabilityInternational companies need to examine political actions that pressure upcoming operations and earnings. Political risk might pressure the actions of any type of international business activities. The key factor of political risk is an unforeseen political change. Companies can obtain information on the political risks independent agencies-risk political and international associations’ scholars, political leaders, union leaders, journalists, consultants, and banks.
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(2015, 12). Chapter 2 Analyzing International Opportunities – International Investigation of Prospective Business Opportunities for Secret Recipe Restaurant. EssaysForStudent.com. Retrieved 12, 2015, from
“Chapter 2 Analyzing International Opportunities – International Investigation of Prospective Business Opportunities for Secret Recipe Restaurant” EssaysForStudent.com. 12 2015. 2015. 12 2015 < "Chapter 2 Analyzing International Opportunities - International Investigation of Prospective Business Opportunities for Secret Recipe Restaurant." EssaysForStudent.com. EssaysForStudent.com, 12 2015. Web. 12 2015. < "Chapter 2 Analyzing International Opportunities - International Investigation of Prospective Business Opportunities for Secret Recipe Restaurant." EssaysForStudent.com. 12, 2015. Accessed 12, 2015. Essay Preview By: venuarunasalam Submitted: December 28, 2015 Essay Length: 2,600 Words / 11 Pages Paper type: Research Paper Views: 542 Report this essay Tweet Related Essays International Business Negotiations 1 Introduction As an exchange student in business study’s I chose to follow the course International Business Negotiations. It sounded like an interesting subject, because 1,586 Words | 7 Pages Franchise Vs. Business Opportunity To the untrained eye, franchise and business opportunity investments look pretty much the same. Both invite you to purchase a package of goods and services 1,869 Words | 8 Pages International Business Opportunities in Germany INTERNATIONAL BUSINESS OPPORTUNITIES IN GERMANY Executive Summary This paper examines the opportunity for international business in Germany. It reviews Germany’s history, demographics, political and economic 1,704 Words | 7 Pages Obtaining New Business Opportunities Through Networking Internships Obtaining New Business Opportunities Through Networking Internships Easy access to a number of promising individuals that fit the requirements to your business at your fingertips? 3,428 Words | 14 Pages Similar Topics International Business International Business Etiquette Get Access to 89,000+ Essays and Term Papers Join 209,000+ Other Students High Quality Essays and Documents Sign up © 2008–2020 EssaysForStudent.comFree Essays, Book Reports, Term Papers and Research Papers Essays Sign up Sign in Contact us Site Map Privacy Policy Terms of Service Facebook Twitter