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INTERNATIONAL BUSINESS RESEARCH

INTERNATIONAL BUSINESS RESEARCH

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Published by imad rehman

INTERNATIONAL BUSINESS RESEARCH ,The single most important cause for failure in international business is insufficient preparation and information

INTERNATIONAL BUSINESS RESEARCH ,The single most important cause for failure in international business is insufficient preparation and information

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Published by: imad rehman on Apr 03, 2011
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04/03/2011

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INTERNATIONALINTERNATIONALBUSINESSBUSINESSRESEARCHRESEARCH
TheThe singlesingle mostmost importantimportant causecause forfor failurefailure inin internationalinternational businessbusiness isis insufficientinsufficientpreparationpreparation andand informationinformation
1NAVNEET GERA
 
I - INTRODUCTION
TheThe failurefailure ofof managersmanagers toto comprehendcomprehend culturalcultural disparities,disparities, thethe failurefailure toto rememberremember thatthat customerscustomers differdiffer fromfrom countrycountry toto country,country, andand thethe lacklack ofof investigationinvestigation intointo whetherwhether oror notnot aa marketmarket existsexists priorprior toto marketmarket entryentry hashas mademade internationalinternational businessbusiness aa riskrisk activityactivity
DifferencesDifferences betweenbetween domesticdomestic andand internationalinternational researchresearch::
a)a) newnew parametersparameters (duties,(duties, foreignforeign currencies,currencies, internationalinternational documentation)documentation)b)b) newnew environmentalenvironmental factorsfactors (legal(legal issues,issues, culturalcultural issues,issues, politicalpolitical issues,issues, technologicaltechnological levellevel ofof thethe society)society)c)c) TheThe numbernumber ofof factorsfactors involvedinvolved d)d) BroaderBroader definitiondefinition ofof competitioncompetition (much(much greatergreater varietyvariety ofof competitioncompetition
))
2
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II - RECOGNIZING THE NEED FOR INTERNATIONALRESEARCH
L
ack
L
ack ofof sensitivitysensitivity toto differencesdifferences inin culture,culture, consumerconsumer tastes,tastes, andand marketmarket demandsdemands
L
imited
L
imited appreciationappreciation forfor thethe environmentenvironment (
L
abour(
L
abourrules,rules, distributiondistribution systems,systems, thethe availabilityavailability ofof media,media, oror advertisingadvertising regulations)regulations)
L
ack
L
ack ofof familiarityfamiliarity withwith nationalnational andand internationalinternational datadata sourcessources andand inabilityinability toto useuse internationalinternational datadata onceonce obtainedobtainedResearchResearch allowsallows managementmanagement toto identifyidentify andand developdevelop internationalinternational strategiesstrategies (identification,(identification, evaluation,evaluation, andand comparisoncomparison ofof potentialpotential foreignforeign businessbusiness opportunitiesopportunities andand subsequentsubsequent targettarget--marketmarket selection)selection)
3
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