Journal 1 (Geographical Factor)

JOURNAL TITLE: Geographical factors that affect development

JOURNAL SUMMARY:
The journal highlighted how geographical factors must be taken into account when
talking about the business landscape. It first stated reasons on why companies frequently
expand their business operations into other countries contrary to the traditional antics of
business activities. It started off first by briefly explaining how international business affects the
global economy.

Moreover, the article cared to venture on its center of focus, the geographic conditions.
Geographic conditions have a lot of elements that correspond to; climate, terrain, seaports and
natural resources of a country. As geographical location plays a part in access to the market,
business firms should always keep them as an integral constituent on their business plans
Taking Chinese known businesses as an example, China has three of the world's busiest ports.
Chinese businesses took that opportunity to make it easier for them to reach out and expand
their business game offshores. What reason made them so? Well, land shipments make trade
even more expensive.

Moving on, geographical factors such as resources open an opportunity for the business
market to capitalise on them. It could be the resources posing a distinct advantage over others
to make it establish a name in global business, like how Saudi Arabia or UAE is known for their
oil. Lastly, the article gave out the most notable geographical factor that affects the
internalization of a business firm, climate. With climate being the most common natural enemy
to the human race, it also does the same for business. Climate restricts the type of business
that can operate in a certain location.

REFLECTION:
 My interpretation of the study is deeply focused on why we should always take
geographical factors into consideration. Geographical factors are something we can not control
since those are usually compacted to nature, however, they should be tolerated.

First thing and probably the most important that I have learned is taking advantage of
what is most accessible to you. Just like South Africa for example,golds and diamonds helped
them to build the most successful economy on the continent.

My other interpretation of the journal is it seeks to warn young business geeks of not
committing business decisions without considering geographical factors as a constituent of the
business also. It made me reflect that even though geographical factors may not seem a big
deal at first sight, it is the one that tends to leave an impact and that alone for the sole reason of
being with nature.

The journal could also be viewed as a guide to young business geeks, proprietors,
normal consumers or literally for everyone to be mindful of our business decisions as they could
leave big traces even for the minority.

It is worth noting that accepting the existence and mere fact about these geographical
factors handing out its effect to the international stability of a business, is a facile way for
devising a plan. It can help foster knowledge spillover among like-minded individuals that can
pave the way for providing solutions to these factors.

APPLICATION:

The material made me a problem solver in a small amount of time by reading it as I have
made some ideas that I think can be guided as a solution when facing off those geographical
factors.

It made me think innovatively upon reading the journal material. I have realized three
important things that can supplementarily act as a prevention to the geographical factors
affecting an internalization of a business firm: transport availability, well planned territory
expansion, and potential workforce.

Transport availability comes hand in hand when we think of the geographical factors
mentioned in the article. It should have been prioritized because goods can not be moved
around several locations without use of transport. And I think securing first the transport
availability after knowing the geographical factors minimizes the effect of what could the
geographical factors be.

Territory expansion on the other side depends on environmental stability. Evaluating first
the environmental stability of a specific place based on scientific and qualitative data makes up
a good ground for your business to grow. Since environmental stability is what drives for the
survival of the business, therefore, understanding the logic behind it surely helps.
 Overall, the journal I have read took me a glimpse of high-level issues involved and
made me jot down a list of all potential actions, solutions and of course other factors that could
get in the way. It neatly reminded me to be more analytical in resolving issues.

REFERENCES:
Williams, J. (2007), Geographical factors that affect development. The Earthbound Report.
Retrieved from https://earthbound.report/2007/07/01/geographical-factors-that-affect-
development/
Accessed last November 25, 2021.
 Journal 2 (Social Factor)
Journal Title: The Importance of Social Factors for Rapid Internalisation - The Case of a High-
Tech Company

Journal Summary:
The paper highlights the importance of social factors for rapid internationalization
although it was only specified for IT companies. However, points made in the paper were pretty
much applicable to any business firm considering social factors is essential to any business to
exist,

The paper presented a detailed assessment of social variables and their roles in the
acceleration of internationalization. The paper is concise with a clear goal in mind to indicate the
social factors that shape relationships and their impacts on the internationalisation process of IT
business (which is technically applicable to any business).

Reflection:

The first thing that crossed my mind after reading the paper was it is such an
information-filled paper to read. It really lives up to its research title.

Moving on, I think the paper culminates in trying to convince or redirect to put more
attention by the occurrence of both social and economical variables since the paper is mostly
backed up with statistics.

In one part of the paper, it was said that the researcher was required to focus on the pre-
internationalization phase and not on the presence and operation on foreign markets itself. And
that is when I realized that even though it was well outlooked in our society that an international
success of a once small local business is the sole definition and standard of success in
business, it is in fact the opposite.

It was highlighted in the paper that before an internationalisation of a business that has
to come, it should be the domestic market always being underlined as important to achieve. In
real life applications, it is definitely right to put it in that way, small things can fall into a domino
effect which then lands on big things, and the ladderized presentation of success. And I seem to
notice a lot of young entrepreneurs are too fixated on "breaking the global market" ideology
without even solidifying any plans for local success. It seems like a lot of young businessmen
make this mistake, however, things can be controlled if they will allow change to happen.

To this, they have disclosed that social bonding is the most important aspect of social
factors in business relationships. And with the things I have mentioned above, it is evident that
business people used as an example above, find it hard to dominate such internalization
success, their confidence is overpowering their actions.

Application:

The research paper made me put into a different mindset when it comes to dealing with
social factors for the internalisation of a business. And the points made were very relevant in the
career I want to be part of.

Since in social bonding in business relationships, I put a faith in myself to encompass

personal confidence, familiarity, friendship, trust and social reputation as early as possible to
withstand these circumstances in the future. Of Course this is not only for business reasons but
I view it as a track to personal growth too.

What made me ponder those things is I can not be a good business person if my
separate personality as my own can't practice that. Providing a favorable atmosphere does not
only intend to boost company branding or reputation, but also customer and employment
service. Possessing those elope a focus drive on improving the efficiency of different factors in
internalization if being followed with consistent standards, values and objectives.

References:

Ratajczak-Mrozek, Milena & Mielcarek, Paweł. (2014). RAPID TRANSITION FROM LOCAL TO
INTERNATIONAL COMPANY – THE IMPORTANCE OF SOCIAL FACTORS IN
RELATIONSHIP STRENGTH FOR IT ENTERPRISE. 10.13140/2.1.1945.0242. Retrieved from
https://www.researchgate.net/publication/265476196_RAPID_TRANSITION_FROM_LOCAL_T
O_INTERNATIONAL_COMPANY_-
_THE_IMPORTANCE_OF_SOCIAL_FACTORS_IN_RELATIONSHIP_STRENGTH_FOR_IT_E
NTERPRISE Accessed last November 27, 2021.
 Journal 3 (Legal Policies)
Journal Title: Chapter 4: The Legal, Political/Trade Environment

Journal Summary:
The journal was written with these objectives; to give an understanding of the major
factors which must be considered in the legal environment when planning to market globally and
show the importance of legal aspects in global marketing.

It stated that following legal procedures of "International law" in which nations consider
binding upon themselves. The journal also explained in detail the two interesting characteristics
of international law, first the law belongs to individual nations and international law only exists to
the degree that individual nations are willing to relinquish their rights. Next is in the lack of an
adequate international judicial and administrative framework or a body of law which would form
the basis of a truly comprehensive international legal system.

The journal briefly expounds the conceptual framework of legal policies in international
business. A business that aims to engage in any transactions overseas, they must need to
familiarize itself with the general concepts of public and private international law, even the
foreign law as it can give consequences to which and to what extent you can engage business
abroad.

Reflection:
Based on what I have read, it made me aware not only of the basics of legal policies'
role in business but also the foreign direct investment, sustainability, transport of goods,
comparative legal system, international and national trade regulation and other things
mentioned in it.

To be completely honest, I don't have enough credible knowledge of International Legal

Environment, but through the journal I have found that in the international legal environment it
has three sectors; the Public International Law, Private International Law, and Foreign Law.

From what I have understood in the journal, the Private International Law revolves in
governing the relationships between states and international organizations, while the Private
International Law revolves in governing the relationship between the actual persons and
organizations engaged in international transactions. Foreign law, just the name suggests, is a
system of law enacted by a foreign country.

The three sectors of International Legal Environment work their way in the business talks
because legal environment treaties affect imports and exports of products if products do not
meet established legal requirements entered into by the involved country. With those trade
agreements, it addresses some aspects of the trade relationship between two or more countries
by imposing inclusive or exclusive agreements that can delimit or limit importing and exporting
of goods and services.

Application:
The journal is very useful in expanding my knowledge in terms of the legal environment
of businesses. It helped me in assessing factors which can be vulnerable to legal policies.

First thing that I have learned and in what way possible I can apply it was the property
rights aspect. I must have come up with patents and trademarks that are aligned to the legal
policies.

Next thing would be devising a recourse plan in business by considering the possibility
and length of action if a slight damage due to legal policies will occur. It could be just a back up
plan in which all vulnerable factors I have observed were strictly assessed, like the company
behavior, company's contribution to the host country, visibility of the firm, size and location of
operation, sensitivity of the industry, etc.

To sum it up, the information I have gathered from this journal helped me get the
measure of the controls or regulations that concentrate on legal frameworks like import and
export controls, patents and trademarks, taxes, and etc. It helped me mold better marketing
implications by instructing good principles.

References:
The Legal, Political/Trade Environment. (n.d.). FAO ORG. Retrieved from
https://www.fao.org/3/w5973e/w5973e08.htm Accessed last November 27, 2021.
 Journal 4 (Behavioral Factors)
Journal Title: Discuss behavioral factors influencing countries
Journal Summary:
The research paper aims to discuss behavioral factors influencing countries' business
practices by first giving out examples of behavioral factors and what are their affiliated
consequences to the internalization of business.

Those examples of behavioral factors that the research paper has given out are Social
Stratification, Work Motivation, Relationship Preferences, Risk Taking Behavior and
Communication.

Under the social stratification it is said that it was under tension in a globalized era
further showing adverse effects on the internationalization of businesses as well. With
globalization having a close relation to global business, it seems that globalization is leading
towards greater social integration within nations resulting for a business to be internationalized
and social disintegration will be a by-product.

This thing is also correlated to the succeeding behavioral factors mentioned, work
motivation and relationship preferences. The paper subtly mentioned that behavioral factors are
the impacts of socio-cultural, economic and legal factors in the business environment even in
the society as a whole.

Reflection:
We know in a business environment, the better the knowledge about the market market,
the more valuable are the other resources, and the stronger is the commitment to the market.
Therefore it is with deep understanding to gradually gain experience in such markets may it be
by increasing commitment to foreign operations or markets, however, can it always guarantee
"good indifferences"? I think it is still uncertain because of behavioral factors.

So from what I have understood in dealing with this, according to the paper that I have
read, it is important to take everything as a part of the whole concept since business relies on
the people part of it. People with different environments and cultures should also be given
consideration especially if we know how it is affiliated to the growth of our business not only for
the employment and customer service, a professional association is needed.

For example in relationship preferences, in highly developed countries, preferences are

strong in work or big company and their work motivation matches up.

In simple words, I have realized a different kind of open-mindedness in business. I am

well aware that being open-minded is an essential character in entrepreneurship but sometimes
our open-mindedness delineates components of a whole.
Application:
The most important thing I have comprehended from the paper is to grow a holistic
approach in dealing with behavioral factors or every factor in international expansion in general.
As quoted by Fran Sussman, a holistic approach looks for fundamental underlying issues rather
than only addressing symptoms, it is applicable to the behavioral factors in the paper.

With this, I think I need to appraise every qualification I have and for the business
factors. If a change is needed to my products or services for its internationalization, it is
susceptible to take initiative in the market or to explore innovative ideas in a specific region.

Just like any other factors, a good understanding of everything makes it easier to grasp
on, so a good understanding of customers, employees, business partners and other people
involved is a crucial part. Making sure the view and picture I have of them in my mind are as
accurate and complete as possible.

To conclude it, looking into what I comprehend, observe and experience from different
perspectives, digging deeper into their roots and origins, ensures a holistic approach to a global
growth.

References:
Alkaadhem, I. (n.d.). Discuss behavioral factors influencing countries. StuDocu. Retrieved from
https://www.studocu.com/row/document/jubail-university-college/international-business/discuss-
behavioral-factors-influencing-countries/15694236 Accessed last November 28, 2021.