Business Success Internationally

By : Umer Javed

What canadian companies need to be successful in the international marketplace

Introduction


As we all know, in the past couple of decades businesses have taken a huge leap in many aspects in order to make a business successful in the international marketplace. Today, I’ll be stating some major points and facts that have helped a vast majority of companies all around the world in becoming successful at the international level. It is going to look at many strategies and go in depth for each fact that has helped a business successful. To start off, the major points that have helped turn around a company’s failure into success are culture, technology, marketing strategy, environment, blending global similarities, government and customer satisfaction. The following points mentioned earlier on will be covered and explained in great detail that will help people understand and realize what it takes to make a business successful in an international market. ou make business decisions with complete and total confidence.



Culture


Culture is something which is supposed to be taken really seriously and with caution when you‘re making business deals with other companies around the world. In the last couple of years business deals have been based on how much you understand a country’s culture. To be more precised, every country has a sort of way they approach a business meeting and can get offended if they get insulted by the other side during conferences which may lead to problems in the trading process. For example, countries like Unites States are known for their enthusiasm and loud nature which countries have to research and find out before they make any sort of trades with the U.S. They are some countries like China which are the total opposite from U.S and don’t like the need of being too hilarious and loud and choose to be more sophisticated and serious. If countries with totally different personalities approach each other for a trade they have to make sure they know beforehand what to say which will not cause a rift between the countries and their trade agreements. Along with that, there is social institution within every country in which people among that country can relate to one another better which makes it easier for them to organize their economic activities among each other. Therefore, relations between countries are built on trust and usually take a long time to develop so there is no need to rush when you make trades between countries instead you should rather learn their culture significantly so that when you complete a trade with one country you have a positive relationship to come back again which will benefit your business at the end of the day.



Technology


In the past 100 years something which has taken a great leap and has advanced in the world has been technology. Technology is something which is so powerful and useful to consumers that it can make any business successful if they target the audience that love the use of anything related to technology. The use of technology plays an enormously big role in the international market, unlike most of the other stuff technology is something which is constantly changing and advancing. According to reports, they have claimed that businesses didn't have the same value and profits they have now main reason being the lack of technology usage they had which didn't really give them a chance to internationally exploit their business to catch consumers attention. Since now technology is global and everyone keeps up with the latest news around the world businesses use that as an advantage to promote their products and try to achieve success at the international level. Usually it works for many big companies such as Apple, Samsung and Microsoft to name a few. These companies are the top few companies when you talk about technology and can do anything to get consumers attention in order to make their business successful. In today’s generation, it’s impossible to experience life without technology since businesses are so used to this they can’t think of going one day without computers and telephones. To make it short and simple technology is something which makes everything in life easier and convenient, for example Facebook, twitter and Hotmail are couple of ways that allows people to communicate with their friends and families around the world making it a habit for them to get use to all these things and if they get all these things taken away from them it may cause havoc. Business won’t be successful if they take away technology from them making business realize how much they value this and that if they lose this it can ruin everything from them and things can go downhill.



Marketing Strategy


They are many reasons why marketing strategy help companies achieve success in the international market. To start off, international marketing strategy help companies analyze their potential markets in which they can identify who is most likely to be receptive to your products and services. Recently, countries are establishing a customized marketplace where they make strategies that help them reach higher levels in the international market. The purpose to every business at the end of the day is to get and keep customers, for instance countries around the world market goods and services outside the organizations home country. Marketing strategy not only allows organization the opportunities to achieve goals of increasing sales against their competitor but also deals with the strategic situation of a company. For example, Nike is the perfect example when it comes to marketing strategy it shows us the various ways to pursue consumers all around the world using emotional branding technique of Heroism. The break-down of heroism is basically when they promote around the globe a hero that has to battle through challenges and foes greater than him to prevail and win the battle. This kind of strategy helps attract consumers for Nike and other various companies around the world, the same consumers that later on turn into loyal consumers. Another good example of marketing strategy will be Amazon, which is a company with a great vision and ambition. Amazon has branches all over the world in places like North America, Asia and Europe, it has reconstructed the economic and political landscape in the world. They're marketing strategy attracts consumers because of them continuously promoting online shopping, updating kindle and providing advance cloud computing technology. With this type of promoting strategy they have ruled this era of marketing and are keen on taking their ideas and achieving the goal they have visioned for them.



Environment


“Earth provides enough to satisfy every man's needs, but not every man's greed.” Environment is something which has been taken for granted in the last couple of decades, not many people have the idea of how important it is too take care of the environment and reduce the use of harmful activities which are harming the environment. Business all around the world are doing whatever it takes to be successful in the international market even if it means to damage the environment for their own goods they will. In recent years, a lot companies all around the world are taking action which are against the environment and those that will have a negative side effect if action isn’t taken against these companies. For example, a big issue for few countries have been the way they manage their resources properly, this only happens when they are carried away by the money they make from sacrificing the natural resources that is giving us oxygen, building and habitats for the animal which we need food for. If they are companies around the world that are negatively impacting the environment, they are some companies that are completely the opposite and are positively impacting the environment. A company that is known to be environmentally friendly and has been on the rise because of their unique and new method approach towards business is Puma. Puma is giving a lot of companies in their industry a hard time attracting as much consumers as they have, as a reward for its commitment in making a change in the world Puma was honoured the world's most sustainable company award by research firm EIRIS.


Customer Satisfaction


Customer satisfaction is essential to any business. If customers are satisfied they are more likely to purchase more form you more often. If the consumers are satisfied business owners are satisfied. This is one step closer to having a successful business. Customers are an important part of a business because they consume and criticize on what is good and what is bad. They are the resource upon which the success of the business depends. Customers are the main purpose of organizations, and without them these organizations would not exist. These organizations are dependent on their customers, if they do not develop customer loyalty and satisfaction, they could lose many customers and soon go out of business. Also customers are also a big part of businesses because they make it possible to achieve business aims. Satisfying the customers also takes a big part in a successful business. One estimate is that it costs five times as much to attract new customers as it does to keep existing ones. The relationship between the customer and the organization is very important. Building customer relationships can be seen as moving up a ladder; at the top we have our loyal customers, also known as advocates. The extent to which customers move up the ladder also depends on how well they are being treated by the organizations. Well focused sale methods and attention to individual detail is likely to encourage customers to move up the ladder into becoming an advocate. The Argos spends a lot of energy and time on finding what customers want. Other organizations like Nestle and Cadbury place great store on building strong links with their stakeholder grouping and with their customer’s through extensive market research.


Government


The government can be a very big advantage to new businesses and organizations. The government provides cheap loans and gives grants to these businesses. Government grants are funded by your tax dollars, and therefore require reporting measures to ensure the money is well spent. These grants are not given away indiscriminately. Some business grants are available through state and local programs, nonprofit organizations and other groups. For example, some states provide grants for expanding child care centers; creating energy efficient technology, and developing marketing campaigns for tourism. These grants are not necessarily free money, and usually require the recipient to match funds or combine the grant with other forms of financing such as a loan. The amount of the grant money available varies with each business and each grantor. Also, governments help businesses to survive so that there can still be some competition in the economy. They also encourage firms to export and earn foreign exchange which will bring benefits to their country. Lastly, governments take place in encouraging businesses to set up in underdeveloped regions of the country and create wealth and employment opportunities in these areas.


Conclusion


In conclusion, after all this research I have come to a conclusion that the transformation of international business and related developments in the global world poses a lot of challenges and opportunities for business around the world. Therefore, if you carefully present yourself in the international market you need to have the major points that I took up in the article and those are government because of its advantage on the country's business and organization. Environment is another thing because of its positive impact towards a country financial status, marketing strategy also needs to be taken seriously if companies want their product being worldwide and catching lot of consumers attention. Without technology nothing is possible due to its huge rise in the past couple of decades and also the need and craving for technology has blossomed and cant be unnoticed by anymore. Customer satisfaction is always the major thing to remember if you want to maintain a status and become successful in the international market.

Work Cited

Work Cited for IB Summative


1. "Evaluating Country Risk For International Investing." Investopedia. N.p., n.d. Web. 14 Jan. 2014.


2. "10 Cheapest Global Markets for Investors Willing to Take the Risk." The Tell RSS. N.p., n.d. Web. 14 Jan. 2014.


3. "Technology Helps Business Go Global." About.com Import & Export. N.p., n.d. Web. 14 Jan. 2014.


4. "Working with You to Develop and Implement a Winning Business Strategy."Construction Strategy. N.p., n.d. Web. 14 Jan. 2014.


5. "What Are Big Companies Doing for the Environment?" Ovo Energy. N.p., n.d. Web. 14 Jan. 2014.




Wiki Space

Name: Umer Javed

Date: October 9, 2013

Business Name
Industry: Construction

Topic: Outsourcing
Subtopic: Public Relations
Title of Article:
"Construction is providing the foundation for Canadian job growth"

Link:
http://www.theglobeandmail.com/report-on-business/economy/economy-lab/construction-is-providing-the-foundation-for-canadian-job-growth/article14206044/


Source Name The Globe and Mail

Type of Source: Newspaper

Date of Source: September 10, 2013


Synopsis:


1. Construction is driving Canada's job growth in the last one year.

2. Employment in the sector rose by 17,700 in the past one month, and in the last year or so has hired around 1.4 million canadians.

3.Wages are also growing for construction workers. The rate of hiring wont last much longer, as the prospect of higher interest rates slows the pace of building activity and home-buying.

Name: Umer Javed

Date: October 23, 2013

Business Name
Industry: Construction

Topic: Outsourcing


Subtopic: Public Relations

Title of Article:
"B.C construction industry looks to Ireland "


Link:http://www.timescolonist.com/b-c-construction-industry-looks-to-ireland-to-recruit-workers-1.659478


Source Name: Times Colonist

Type of Source: Insourcing

Date of Source: October 14,2013


Synopsis:

1. Western Canada is so dire that the B.C. Construction Association is returning to Ireland this month to hire 600 people

2. The provincial government’s own statistics indicate there will be more than one million job openings over the next decade, and more than 153,000 of those will be among trades, transport, equipment operators and related occupations

3. Wanted will be workers in more than 50 construction trades, from bricklayers to framing carpenters, power-line technicians to welders. Architects and structural engineers are also in demand.

Name: Umer Javed

Date: December 4, 2013

Business Name
Industry: Construction

Topic: Outsourcing
Subtopic: Public Relations
Title of Article:
"Manitoba to rush through Construction speed bill "


Link:http://globalnews.ca/news/1004273/manitoba-to-rush-through-construction-speed-bill/


Source Name: Global News
Type of Source: Newspaper

Date of Source: December 2, 2012


Synopsis:

1. Manitoba politicians have reached a deal that will see a construction-zone law passed quickly in the legislature.

2. The NDP government wanted to speed things up and have a final vote by this Thursday, when the legislature will break for the holidays.

3. The Progressive Conservative Opposition has agreed to include the bill with dozens of others that were delayed last session and are to come to a vote Thursday.

Name: Umer Javed

Date: December 11, 2013

Business Name
Industry: Construction

Topic: Outsourcing
Subtopic: Public Relations
Title of Article:
"Construction hiring likely to dip"


Link:http://thechronicleherald.ca/business/1173091-construction-hiring-likely-to-dip


Source Name: The Chronicle Herald

Type of Source: Newspaper

Date of Source: December 10, 2012


Synopsis:

1.The construction industry in Atlantic Canada will be in a bit of a hiring slump in the first quarter of 2014, while the mining industry will be hungry for workers, according to the latest Manpower Employment Outlook Survey.

2.About 18 per cent of employers in the construction sector in the region planned to hire more people in the last quarter of this year, and none plan to hire additional workers in the first quarter of 2014

3.There is a contrary situation in mining, with few employers expecting to add workers in the last quarter of 2013 and about 39 per cent indicating they will be looking for people in the first quarter of next year.

Name: Umer Javed

Date: December 18, 2013

Business Name
Industry: Construction

Topic: Service
Subtopic: Public Relations
Title of Article:
"Construction hiring likely to dip"'


Link:http://www.marketwatch.com/story/home-construction-hits-fastest-pace-since-2008-2013-12-18?link=MW_latest_news


Source Name:Market Watch

Type of Source: Newspaper

Date of Source: December 18, 2012


Synopsis:

1. Housing starts leaped 22.7% in November to reach a seasonally adjusted annual rate of 1.09 million, with surges for single-family homes and apartments, according to the U.S. Department of Commerce.

2. Builders and buyers are becoming accustomed to the new price environment, and, as long as jobs keep showing healthy growth the housing market’s rebound will also continue

3. Home builders signaled that their cpnfidence rose in December to the highest level in four months, pumped up by more optimism on current sales of single-family homes.



Name: Umer Javed

Date: January 13, 2014

Business Name
Industry: Construction

Topic: Service
Subtopic: Public Relations
Title of Article:
"Higher salary for construction industry"

Link:http://www.3news.co.nz/Higher-salaries-for-construction-industry/tabid/421/articleID/328418/Default.aspx

Source Name: 3 News
Type of Source: Newspaper
Date of Source: January 13, 2014

Synopisis:


1.

Tessa Gregory took up a painting apprenticeship after the Canterbury quakes.

The 20-year-old says she was lured to the building and construction industry by the prospect of steady work and a decent wage.



Read more: http://www.3news.co.nz/Higher-salaries-for-construction-industry/tabid/421/articleID/328418/Default.aspx#ixzz2qM8C418N

2.

While the website generally lists high-end construction jobs such as project management and quantity surveying, industry experts say the figures are a fair reflection of what's happening in the industry right now.

Read more: http://www.3news.co.nz/Higher-salaries-for-construction-industry/tabid/421/articleID/328418/Default.aspx#ixzz2qM8IP8I5

3.

Building apprenticeships are surging too, with 4000 last year, up 36 percent on 2012.

Read more: http://www.3news.co.nz/Higher-salaries-for-construction-industry/tabid/421/articleID/328418/Default.aspx#ixzz2qM8OtiTq