GLOBAL BUSINESS ASPECTS

NAME
GLOBAL BUSINESS ASPECTS
ID

Contents
1.Introduction……………………………………………………………………………………………………………… 3
TASK ONE: POSTER PRESENTATION …………………………………………………………………………………. 3
TASK TWO REPORT ………………………………………………………………………………………………………. 3
2. The Protection of IPR in Global Economy ……………………………………………………………………………….3
2.1 PATENTS…………………………………………………………………………………………………………………………..3
2.2 COPYRIGHTS……………………………………………………………………………………………………………………..3
2.3 TRADE SECRETS…………………………………………………………………………………………………………………3
2.4 TRADEMARKS……………………………………………………………………………………………………………………3
3. The management of Business Functions Internationally …………………………………………………… 3
3.1 Manufacturing and Production……………………………………………………………………………………………4
3.2 Sales and Marketing…………………………………………………………………………………………………………..4
3.3 Accounting and finance………………………………………………………………………………………………………4
3.4 Human resources ………………………………………………………………………………………………………………4
4. The Influence of National Culture Internationally ……………………………………………………………. 4
4.1Communication………………………………………………………………………………………………………………….4
4.2Attitude…………………………………………………………………………………………………………………………….4
4.3 Etiquette ………………………………………………………………………………………………………………………….4
5. Evaluation of Entry Strategy globally…………………………………………………………………………….. 4
5.1 Joint Ventures …………………………………………………………………………………………………………………..4
5.2 Exporting ………………………………………………………………………………………………………………………….4
5.3 Franchising ……………………………………………………………………………………………………………………….4
5.4 Licensing…………………………………………………………………………………………………………………………..4
5.5 Direct Investment ……………………………………………………………………………………………………………..4
6. Recommending global strategy……………………………………………………………………………………. 4
6.1 Multidomestic Strategy………………………………………………………………………………………………………5
6.2 Transnational Strategy……………………………………………………………………………………………………….5
6.3 Standardization strategy…………………………………………………………………………………………………….5
6.4 Export strategy………………………………………………………………………………………………………………….5
7. Conclusion ………………………………………………………………………………………………………………. 5
REFERENCES ……………………………………………………………………………………………………………….. 5
Appendix ……………………………………………………………………………………………………………………. 6

1.Introduction
(Provide a brief discussion about your report that what topics you will be covering in the report
and a brief introduction about your local company. Make sure you are not taking any company
which is already international. You cannot take TESCO, ASDA, SAINSBURY,
STARBUCKS, COSTA, ALDI, LIDL, DOMINOS, PIZZA HUT, PAPA JOHNS, KFC,
MACDONALDS, MR BURGER etc. ). You can take even a local corner shop.
TASK ONE: POSTER PRESENTATION
Refer to Appendix
TASK TWO REPORT
2. The Protection of IPR in Global Economy
(Discuss briefly about the 4 IPRs given below and discuss that which IPR or IPRs your
company will be using).
2.1 PATENTS
2.2 COPYRIGHTS
2.3 TRADE SECRETS
2.4 TRADEMARKS
3. Business Functions
(Discuss all the 4 business functions as mentioned below and under each function discuss
about your company that how your company is using that function)

3.1 Manufacturing and Production
3.2 Sales and Marketing.
3.3 Accounting and finance.
3.4 Human resources
4. The Influence of National Culture Internationally
(Discuss all the 3 factors given below and briefly discuss how your company will react on
each of them)
4.1Communication.
4.2Attitude
4.3 Etiquette
5. Evaluation of Entry Strategy globally
(Discuss all the 5 strategies given below and discuss briefly that which strategy or strategies
your company will be using as an entry strategy when going global)
5.1 Joint Ventures
5.2 Exporting
5.3 Franchising
5.4 Licensing
5.5 Direct Investment
6. Recommended global strategy
(Discuss all the 4 global strategies as mentioned below and briefly discuss which strategy
your company will be using to meet the local taste of the people in that country as you are
taking a UK company there)

6.1 Multidomestic Strategy
6.2 Transnational Strategy
6.3 Standardization strategy
6.4 Export strategy
7. Conclusion
(Provide a brief summary of the entire report)
REFERENCES
(You must use the below 2 references as they are compulsory; apart from them use 13 more
references as we need a total of 15 references at level 4)
Sloman, J. & Jones, E., 2017 Essential Economics for Business (formerly Economics and the
Business Environment). 5th ed. s.l.: Pearson.
Worthington, I., Britton, C. and Thompson, E. (2018) The Business Environment: A Global
Perspective, 8th Edition, Pearson

Appendix
(Add your poster task here like the sample poster given below)
INTROUDUCTION
This is a poster of BENZ Fabrics limited will be discussing
about the concept of globalisation and the drivers behind
international business as well as the benefits and barriers
Benz ltd will be entering the global market and is aware
of the major roles WTO rules and regulations play’s in
the international market and Benz Fabrics will be
complying in order to succeed in the international market
The benefits and barriers of
internationalisation of business.
1. New Revenue Potential
Globalisation will increase Benz fabrics
revenue because the company will increase
its customer base and fixed its prices of its
product in such a way that customers will not
take a decision when purchasing .
2.Exposure to foreign investment
opportunities
Globalization has led to higher foreign direct
investment flows in the international market
and has brought a lot of opportunities into
the host country economy where the
business operates. Benz fabrics will be
tapping into these enormous benefits to
improve its capacity to expand its business
globally
3.Imroving company reputations
In relation to international market,
companies reputation is very essential.
Business with strong and positive reputations
attract investors because they are perceived
to be doing better and provides more value
to the business. Therefore as Benz Fabrics is
entering into the international market
reputation of the company concern and will
be on our agenda . The company will work
hard to keep its reputation in order to grow
and expand
Some of the barriers the business will be
facing and will be finding a way to mitigate
such barriers are as follows
1. Political Barriers
Accordingly to (Hiscox 2002) trade has been
a lighting rod of political disputes. Political
decisions sometimes lead to unintended
problems for businesses across the world.
However Business are ware of such decisions
and they often put themselves in a positions
to take advantages of opportunities created
by the government to enhance growth to
avert the damages caused by theses
decisions Some of these political barriers may
include tariffs , levies, Poor diplomatic
decisions and political instability (Chang
2020) . Benz fabrics is aware of the political
barriers in the international ,markets
Continuation :the benefits and
barriers of international business
1.Cultures and social Barriers
The pace of globalization has
increased significantly .
According to(Gomez 1997)
academia’s has argued that
business failures in the global
market is due to poor understand
of the local economy and the
social culture dimension of the
market within. However Benz
fabrics limited is aware of these
challenges in the external
environment in the aspect of
cross-culture communications and
will be addressing such issues and
find a way to mitigate them
2. Trade restrictions
Accordingly to ( Zajac 1995) Many
are convinced that trade among
regions , People , countries and
cultural benefits those taking part
but in contrast it is not so. There
are trade restrictions in the
countries they operate, some of
the restrictions are in the form of
levies, tariffs and quotas . Benz
fabrics will have to check for
trading barriers of the countries to
be trading with before investing to
meet their laws and regulations
and also if its suits the company
The Difference between Domestic and International Business
1. Domestic Business are where businesses is conducted within the
geographical area of the country whiles international business
trade or do business among nations in the world.
2. In domestic business the buyer and seller belongs to the same
country whiles in the international business the seller and buyer
belongs to different countries
3. Domestic Business is limited to its geographical area whiles
international business is worldwide
4. Domestic business trade in local currencies whiles international
business trade in different currencies
5. The quality of products in the domestic business is low whiles the
quality of products in the international business is of higher quality
standard
The Role of WTO in international Business
Negotiate in trade WTO ensures guarantee with a peaceful and accountable economy in the world. Market.
The members countries of WTO negotiate in trade legal agreements and also exchange goods and services
among countries (Dunoff 2006)
Monitoring and Negations WTO came in to well being in 1955 with the aim of monitoring and negotiating
trade deals for business who signed in to them to become members.
Settlements of the dispute WTO Procedure for solving disputes and conflicts is under the Dispute
Settlement Understanding concept where trade related issues are settled . Government brings dispute to
WTO if one its members are not being treated fairly under trade related matters to be solved ( Argentina
2006).
Building trade Capacity Through special programmes by WTO Committees on trade and development has
helped its members countries in capacity building and also advised the developed countries members to
give some concessions for developing countries members under the free trade agreements to allow them
to trades freely with other countries
Out Stretch WTO organised seminars for technical cooperation mission for its developing countries
members and also advice governments to reduce trade barriers to enhance free and open markets
internationally.
Drivers Behind Globalization
1.Containerisation is one of the drivers in globalization
because of the massive investment in the of aviation for
transporting people and goods and the adoption of
containerisation in the shipping industries the prices of
transporting goods and services has been reduce to do
the innovations that has improved the speed of
transports and communication.
2 Technological advances is one of t he main forces that
has driven globalization integration. The use of digital
technology has brought the world into one global village,
3.Economic of scale . Due to globalisation marginal cost
of production has diminished and firms are able to
produce extra products with fewer input cost. This is one
of the chief drivers of economic growth
4.Difference in tax system. Globalization has made some
countries reduced their cooperate tax to the extent that
it attracts a lot of foreign direct investments into their
economies (Helpman 2006).
Less protection . One of the main drivers of globalization
is the economic policies. Countries have reduced their
import tariffs and eliminate some restrictions on
international trade and financial transactions which has
made trade less cumbersome among member state
The effect of trade block in international business.
Trading Blocks are groups of countries in specific geographical regions who have agreed to come together
to manage and promote trade activities among themselves. (Worthington 2018).
Trade blocks are agreement that has recently become influential in global trade among nations .
Such agreements have led to lower prices, increased exports, high growth and has brought greater
competition in the market.(Bilal 2001)
Trade blocks agreement has helped member states to eliminate trade barriers which has helped them to
trade freely among themselves and has boosted their economies
Trade Blocks among member states has boosted direct foreign investment and has decreased monopoly
power and also access to cheaper and more abundant capital among member states.
References
Argentina-Safeguard Measures on Imports of Footwear- Appellate Body Report and Panel Report – Action by the Dispute Settlement
Body WT/DS12/9 (2 March 2000)
Bilal S, 2001 Trade blocs, in R. Jones ed., Routledge Encyclopaedia of International Political Economy, Routledge.
Dunoff, “Constitutional Conceits: The WTO’S “Constitution” and the Discipline of International’ (2006) 17 (3) The European Journal of
International Law, P. 657.
Gomez-Mejia, L.R. and Palich, L.E. (199& “Cultural diversity and the performance of multinational firms, Journal of international
Business Studies 28 (2) : 309-335
Hiscox, MJ (2002) International Trade and Political Conflict: Commerce, Coalitions, and Mobility. Princeton University Press, Oxford.
. Worthington, I., Britton, C. and Thompson, E. (2018) The Business Environment: A Global Perspective, 8th Edition, Pearson
Helpman, E. (2006). Trade, FDI and the organization of firms. Journal of Economic Literature, 44(3), 589-630. Retrieved from
http://www.aeaweb.org/articles.php?doi=10.1257/jel.44.3.589
Zajac,E.E. (1995). Political economy of fairness. Cambridge, MA: MIT Press
Conclusion: In conclusion the author can concluded that regional and multilateral approaches to trade
cooperation need not be incompatible but rather work together to achieve its goals. Benz Fabrics has
understand to explore the concepts of WTO and take advantage of the trade barriers and drivers of
globalization as a tool to guide the company in its policies and its decision taking in the global market as
well as understanding the important role WTO plays in the globally market. Benz Fabrics will be complying
with the riles in order to be successful in the international market