Introduce your assignment by showing you will explore different factors impacting international business, then showing these factors for specific nations and then choose the best country

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International Business (Assignment 2) (Part I) – Checklist

The External Factors of International Business

Task

Action

Completed

Introduction

Introduce your assignment by showing you will explore different factors impacting international business, then showing these factors for specific nations and then choose the best country from your SA.

 

Your business must be one of the businesses from Assignment 1.

Support Systems

Explain how the internet and payment options allow for more international trade to take place.

Explain three ways in which the internet allows for international trade to be more accessible.

Explain how the eight different payment options allow businesses to effectively trade with each other internationally.

Explain the payment system (for example credit card), the benefits, the limitations and then how it helps a business trade internationally.

Remember, you have done four in your Assignment 1 – so add “Cash in Advance, Consignment, Letters of Credit and Opening an Account have been explained and reviewed in full in Assignment 1, please refer to Assignment 1 for information on these factors”.

 

You now choose two countries your business could start trading in.

They cannot already be trading in these nations – your goal here is to show why trading here would be good and why it would be bad.

Boston Consulting Group Matrix

Short introduction paragraph on what the BCGM is and which of the categories your business falls into and why.

Explain how this will lead to your business choosing where/why to expand (keep it brief).

 

Situational Analysis - SWOT

Complete a SWOT analysis on both countries your business could start trading with.

 

Situational Analysis – 5C, Porter’s Five Forces or VRIO.

Complete either a 5C analysis, Porter’s Five Forces Analysis or a VRIO situational analysis for both countries your business could trade with.

 

Complete it for Country 1 and then move on to Country 2.

Choose the Best Country!

Justify why your business should trade with one of the countries from your situational analysis.

Show how (relating back to your situational analysis) this would be brilliant for your business!

You need to relate the justification to each factor – so for a 5C analysis, you need to justify how each element of the 5C is better in one country over the other.

Outweigh the negatives with positives!

 

Review your SPaG and remember to tick off as you are completing the checklist!

International Business (Assignment 2) (Part II) – Checklist

The Cultural Factors of International Business

Task

Action

Completed

Introduction

Show you will be explaining, assessing and evaluating the impact of cultural differences on your business.

 

PESTLE Factors

 

You need to complete a PESTLE analysis in general, explaining how each PESTLE factor influences international trade (with examples).

With each of the factors below ensure you have explained at least three different ways it impacts on international trade.

  • Political
  • Economic
  • Social
  • Technological
  • Legal
  • Environmental & Ethical

Political: x3, political stability, government support and infrastructure.

Each one: Political stability: Define it (this is what it is), explain it (this is how it impacts on businesses – for example, businesses will want to plan for the long-term future, stable governments allow them to do this) and then some real-life examples (UK vs China).

 

Cultural Factors

Explain how eight different cultural factors impact the way businesses operate internationally.

For each factor make sure you are explaining the factor, how it impacts businesses and finish off with how businesses can work around this.

 

Business Operations and Impact of Cultural Factors

You need to choose five different business operations and explain how they are impacted by different cultures.

Ensure you show relevant examples relating to specific nations.

For each business operation show how three different cultures impact it (e.g. Advertising in UK compared with Japan and Nigeria on religious factors, then we might choose values and attitude to work).

 

Review your SPaG and remember to tick off as you are completing the checklist!

International Business (Assignment 2) (Distinction) – Checklist

The Evaluation of Cultural Factors of International Business

Task

Action

Completed

Introduction

Show you will be evaluating one business and how this business has changed, and what changes it has made, over the years due to different cultural factors.

 

Your business must be the same as the one used in Assignment 2 (Part I and Part II).

Evaluation of Cultural Factors

Evaluate how your business has had to adapt and change due to international business.

Show the positives and the negatives that cultural factors (all 8 factors) have had on your business and then an overall opinion on whether your business has been positively/negatively impacted.

Ensure that you relate with real examples from nations.

This may look short, but it needs to be detailed!

 

Review your SPaG and remember to tick off as you are completing the checklist!


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