Entering Foreign Market and Exporting Importing Essay

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Foreign Market & Exporting, Importing

Q1.Strategies of International Business

It is difficult to conceive of a business today which can ignore the availability of e-commerce as a method of connecting with consumers on an international basis. Through a website, a business can easily advertise and make available a wide range of products specifically tailored to a specific country's needs, far beyond what could be available in a brick-and-mortar store recently opened abroad. The full range of products can be made available to the customer, simply by virtue of opening a website, and there is no need to have the expenses of staff and a storefront. "E-Commerce presents opportunities for all consumers and small businesses to obtain easy access to the world market via the Internet. In the past, the world market was readily accessible only to large global companies located mainly in developed countries. E-Commerce is a new and powerful medium which can help close the digital divide among countries and achieve global eQuality in the new world economy" (Towards eQuality, 2013, Ministry of Economy, Trade and Industry).

Q2.Entering Foreign Markets

There are certain advantages to foreign licensing, namely the fact that the foreign corporation has more knowledge of the government regulations and consumer buying habits of the foreign country.

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The license also ensures that the company will have a sustained and immediate source of revenue while it attempts to gain a foothold in the foreign country. The company may have no interest in expending the revenue to engage in the actual manufacturing of products in the company but "could benefit from licensing out of such IP [Intellectual Property] assets by relying on the better manufacturing capacity, wider distribution outlets, greater local knowledge and management expertise of another company," willing to take on the manufacturing burden (Licensing of intellectual property assets: Advantages and disadvantages, n.d,. WIPO).

However, there is always the fear that the company which acquires the license will be able to use the knowledge it has gained about the production process to enrich itself by deploying it when it manufactures its other goods and services. There is also concern that the brand's reputation will be damaged through guilt-by-association, if the licensing company engages in slovenly or unethical conduct.

Q3. Exporting, Importing, and Countertrade

Countertrades are "transactions that link, legally or otherwise, exports and imports of goods or services in addition to, or in place of, financial settlements" (Nakra 2005). It is a sophisticated form of barter: "An aircraft manufacturer might….....

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