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Efforts by-: Natasha Singh Mohd Rizwan Atif Husain Ravi Sharma

Currency exchange rates

Currency fluctuations can be critical in international business. Changes in currency can mean changes in your costs and expenses, your sales, and even the value of your assets and liabilities. The problem with currency fluctuations, however, is a classic problem of guessing the future. Like prices in the stock market, currency exchange rates are a guessing game. Guess right, and you make money. Guess wrong, and you lose

Taxation and accounting environment

some international business plans must also deal with

different tax and accounting practices. Still, the business plan for a U.S. company has to remain in dollars, and taxes paid outside the U.S. serve as a credit against U.S. taxes. For example, the value-added tax (VAT) is a major factor in most European markets, as well as Mexico and Japan. It is very significant for accounting and calculating tax burdens.

Translation factors and timing of translation

the timing of your transactions can change your

business. For example, if you are importing goods from Mexico, at what point do you translate their foreigncurrency costs into dollars? Your accountant should be able to help you decide when and at what exchange rate to transfer your values to and from dollars. The timing can make a difference to profitability.

Market factors
When doing business in multiple countries, you also have to deal with multiple markets and market trends. This makes your business plan preparation harder, even if it doesnt change the mechanics of business planning. If you are selling in Europe, you need to know about your European customers. If you are buying in Central America, you need to know about market factors that could be affecting your costs.

Planning studies
International Planning Studies (IPS) addresses these issues by

publishing quality research in a variety of specific fields and from a range of theoretical and normative perspectives, which helps improve understanding of the actual and potential role of planning and planners in this context. Specific policy areas covered include: urban design economic development environmental policy spatial planning housing transport social inclusion.

Phases in the planning

The major phases of planning for a multinational firm operating in several countries are: The first step in the planning process is the market opportunity analysis. This may represent a major activity for a company that is entering a foreign market for the first time. Because of the risks and uncertainties in international markets, the market assessment is very important for both new market entrants and experienced firms. Phase 1 determines which targets to pursue and establishes relative priorities for resource allocation.

Phase 2 fits the positioning strategy 10 each target market. The objective is to match the "mix requirements to the needs identified and the positioning concept management selects.
Phase 3 consists of the preparation of. The marketing plan. Included are the situation assessment, objectives, strategy and tactics,

budgets and forecasts, and action programs.

Finally in Phase 4, the plan is implemented and

managed. Results are evaluated and strategies adjusted when necessary to improve results. Although the planning process is similar to planning domestic marketing strategies, the environment is far more complex and uncertain in international markets!