International Business International Business has been practiced in human culture for a very long time, from bartering to the business transactions of today, to bring the world's resources together to create a vast network of opportunities for entrepreneurs and consumers alike. The base of a business is the ability to implement the mission through strategic planning. Strategic Planning involves many aspects of the business. It is the framework that makes up daily operations in supporting an end goal. When these goals have been reached domestically, a company will start to make the investment to enter the international market and participate in Globalization. Facilitators, like Coke and Mcdonalds, initiated the decision to be a part of an integrated and interdependent world economy. Companies, such as Nike and Boeing among others, made this decision as well. International business has became easier as barriers to trade and investment are lowered but there are still factors that facilitate decisions to invest internationally. When deciding to make the investment into a foreign country, management must research the political, legal, and economic system of that country. A SWOT analysis of the location included in strategic planning will also help. Management's implementation of SWOT and strategic business management, while remaining sustainable, will ensure end goals are reached both domestic and internationally to ensure a bright future for any business or organization.
Strategic Planning in International Business Planning is the first and an important step in starting a company and it is delegated for management to implement as one of it's vital four functions. Following planning, the other four functions are organizing, leading, and controlling all of which are a reinforcement of planning. A SWOT analysis can also help throughout the planning stages. This helps figure out the strengths, weaknesses, opportunities, and threats of the company, as well as the country to invest in internationally. Once a company has moved, it is time to construct a strategic plan to create value in the area, as well as strategic positioning of products. Researching the culture of a country and creating strategic alliances will ensure that the organizational culture of the business and the strategic plan tailored success in the country.
International Politics Political systems differ in each country. “ Political systems can be assessed according to two dimensions. The first is the degree to which they emphasize collectivism as opposed to individualism. The second is the degree to which they are democratic or totalitarian. These dimensions are interrelated; systems that emphasize collectivism tend toward totalitarian, whereas those that place a high value on individualism tend to be democratic. However, a large gray area exists in the middle. It is possible to have democratic societies that emphasize a mix of collectivism and individualism. Similarly, it is possible to have totalitarian societies that are not collectivist(Hill 2009 pg. 47).” A difference in culture and the norms practiced in each country are an important factor to consider when globalizing as well. The BRICS nations are the growing economies of Brazil, Russia, India, China, and the most recent South Africa. These nations have varying political systems ranging from democracies to communism governments. The political system of a country influences economic development and helps shape a countries legal system.
Legal System and Business Regulations Over the last century, the world has evolved into a place full of commerce and social activities rendering the need for regulation through laws. With each new dilemma came new laws helping to restore order where it was needed. The U.S. Constitution along with the Bill of Rights, Title VII Discrimination protection, as well as many other acts signed into law to protect citizens, customers, and business owners. The importance of