Domestic Co. Goes Global
The possible countries for expansion
Expansion Advice
Leveraging Expatriates over Country Nationals for Business Overseas
Advantages to Company
Choosing of Expatriates
Incentives for Expats
Books to help Expats
The Importance of the Report
Outline of a guide for expatriates for one to two years
The possible countries for expansion
For the international expansion of the company, we choose two countries -- the United Kingdom and China. The basis for choosing the two countries for expansion of business purposes include factors such as the demand in the local market for the company goods in the foreign country, the level of competition in the new market (Burton, Chapman and Cross, 1999), the economic performance of the country being targeted (Conrad, 2005), the possible barriers to trade and business in the new country, the ease of doing business in the new country and the infrastructure that are available there and the political risks that are involved in the political system of the country (Cuervo-Cazurra, 2011).
Other issues to be considered include environmental laws and regulations and currency conversions ease and the rate of exchange. One also has to consider other factors which might seem minor but often has a great impact on the business of a company in a foreign market. These are associated with the cultural factors in the new country and the extent to which it matches to mismatches with the existing culture of the company. Also important to be considered are the outlook to business in general in the society and the degree local cultural influence on business.
Expansion Advice
Based on the factors discussed it is advised that both UK and China would be ideal for the company at this moment to expand its business. The reasons for choosing these two countries vary. While in the UK it is easy to set up business, the country is plagued with some problems that include stagnation in demand in the last few years and the growth rate has fallen to an extent. However in the very recent years, the economy is showing signs of a revival post 2008-2009 global economic crisis. There is a forecast of disposable wealth coming into the hands of the consumers and growth in value is expected. One of the factors that go in favor of UK is it's nearness to other European markets as well as with the U.S. A single flight across the Atlantic for a few hours enables reaching this new market. Moreover, culturally and language wise UK is very similar to the U.S. and hence it would be easy for doing business. The open economic system in the UK would enhance the setup and the ease of doing business there.
On the other hand, China also is a very good destination or international expansion right now. The strongest factor in Chinas favor is the huge consumer population, the rising trend of awareness about foreign brands, the rise in online sale being the highest in the world and yet the limited number of international brands in the local market and the economy moving towards a consumer based one and these are the primary reasons for choosing the China (Wu & Chen, 2014). For China, which has certain market entry barriers primary related to a huge difference in culture, language political hegemony with the U.S., it is advised to go for the joint venture as a market entry vehicle in this country. The economic factors and other trade enablers are very favorable compared to some other countries that were considered.
China stood out to be among the best in the terms of international expansion. Some of the factors that make China stand out as a potential destination or international expansion include rules and regulations for easy set-up for business in China, despite the physical distance from the U.S., the costs of market entry are relatively low as and this can be taken advantage of especially during the early stages of business. furthermore, having a joint venture partner would help in utilizing the already existing infrastructure of the partner in the country. Apart from the huge population and the local market, setting up business in China would also enable easy access to the nearby emerging like India, Thailand, and South Korea and additionally Australia and Japan would also be within the vicinity for exporting from China.
Leveraging Expatriates over Country Nationals for Business Overseas
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