Biotechnology in London
The phrase “location, location, location” is often used from the real-estate side of business. This phrase is also essential for an organization to determine where they are going to set up their operations in order to have success. When doing business in another country there are several factors that CEO’s must take into account. Predominantly culture is the major concern because there are some variables that cannot be measured; how will the locals react to us being there. Other factors such as the language difference, cost of doing business, and general political situation are all things to consider.
I believe I can advise the CEO, based on my research, the preference to do business in London over Munich, Paris, and Budapest. Although London is the most expensive of the four locations, it has major influences in which the other cities do not possess. In my research I found it more feasible for the company to conduct business in London because, although all four of the cities already have had some business with biotechnology, London was the best match in terms of what I was looking for.
According to my research London was the closet match to the United States in terms of culture, language, and living proximity to the USA. Looking at the language aspect their language is similar to those who reside east coast of the United States. The main difference I could find within how the language was spoken was the accent. If the biotechnology company were to branch out to London I do not believe language would be a major concern due to the fact that London’s native tongue would not be hard to understand. This is important because effective communication within the organization is essential to the company functioning well.
However, London’s regulation and political view are not exactly the same as the United States; London obtains a political system of the Constitutional Monarchy. The social structure of the United...
References: http://ibloga.blogspot.com/search?q=Biotechnology+in+europe retrieved from the world wide web June 14, 2012
http://en.wikipedia.org/wiki/Social_structure_of_Britain retrieved from the world wide web June 14, 2012
http://www.genengnews.com/gen-articles/what-it-costs-fo-operate-a-biotech-facility/930/ What it Costs to Operate a Biotech Facility retrieved from the world wide web June 14,2012
http://www.appliedclinicaltrialsonline.com/appliedclinicaltrials/article/articleDetail.jsp?id=392459 retrieved from the world wide web June 14,2014
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