Coursework
The key considerations I would consider as a manager are; first is the cultural differences
between the Europe and Asia the new target markets and the United States, Canada and Mexico
where the company has already established its markets (Penrose, 2017). Cultural differences
determine whether the product or the service meets the desires of the people in the new target
market and so if cultural differences should be studied to ensure company’s products comply
with the people’s cultures. The second consideration is the legal and regulatory compliance such
that the business is flexible to operate within foreign laws local laws and regulations set by those
distant countries. The third consideration is the performance of the business case study to
understand whether the business case is able to respond to challenges as well as the ability to
expand abroad (Penrose, 2017). The fourth consideration is actually to consider speculating
foreign government’s considerations which comprises of things like currency exchange rates,
transportation and communication that exist, employment laws and protection policies to cover
the business to ensure safety and stability of the of the business.
The challenges the company might experience in the global markets will include tight
competitions from the local markets of those foreign countries, tight government policies, supply
chain risks, compliance to tax codes and operational risks while hiring staff at the foreign
markets. How to overcome tight competition from local markets is to establish good
relationships with the local partners and businesses offering the same products and services in
those countries so as to reduce the level of competition (Bourlier & Gomez, 2017). The solution
to challenge in tax codes compliance is to study the details concerning tax laws and tariffs of the
target nations to make sure they are clear and understandable before venturing into the market.
The solution to the supply chain risks is to come up with a business plan that guides the business
