Eco 372 Week 2 International Business Analysis
Week 2 Homework
The world of business is fun and exciting for many entrepreneurs. Many entrepreneurs have found great success in the United States. Some businesses explore their possibilities when choosing to expand such as expanding globally and nationally. Whether they are expanding nationally or globally, this week’s assignments poses a few questions they must address before proceeding to the finish line of success: What cultural factors must US sports franchises overcome to increase popularity abroad, How can franchises ensure its products are appropriate for international markets, and Should governments protect its industries by placing tariffs on imported products? Why?
There are many cultural factors US sports franchises must overcome to increase popularity aboard. Let’s use cricket as an example, if an American franchise wanted to build exposure and expand cricket across the US, the most important step is to travel around the world to learn more about the sport. When considering traveling globally they must consider language barriers, acknowledging the difference in culture and learning to conduct business aboard. Promoting cricket in the United States would be …show more content…
The first thing the company would need to establish is the marketplace in the country they’d like to expand to determine if their products or service will fit the needs of their society. When traveling aboard, they have to consider the cultures of the land and how their company can fit into their society. Just as I stated above, when traveling internationally you have to consider language barriers. Some companies may have to modify their business models to expand globally. Another important aspect of expanding internationally is finding the right distributor for your companies good and services. Lastly, companies must learn foreign policies for doing business abroad and importing
The world of business is fun and exciting for many entrepreneurs. Many entrepreneurs have found great success in the United States. Some businesses explore their possibilities when choosing to expand such as expanding globally and nationally. Whether they are expanding nationally or globally, this week’s assignments poses a few questions they must address before proceeding to the finish line of success: What cultural factors must US sports franchises overcome to increase popularity abroad, How can franchises ensure its products are appropriate for international markets, and Should governments protect its industries by placing tariffs on imported products? Why?
There are many cultural factors US sports franchises must overcome to increase popularity aboard. Let’s use cricket as an example, if an American franchise wanted to build exposure and expand cricket across the US, the most important step is to travel around the world to learn more about the sport. When considering traveling globally they must consider language barriers, acknowledging the difference in culture and learning to conduct business aboard. Promoting cricket in the United States would be …show more content…
The first thing the company would need to establish is the marketplace in the country they’d like to expand to determine if their products or service will fit the needs of their society. When traveling aboard, they have to consider the cultures of the land and how their company can fit into their society. Just as I stated above, when traveling internationally you have to consider language barriers. Some companies may have to modify their business models to expand globally. Another important aspect of expanding internationally is finding the right distributor for your companies good and services. Lastly, companies must learn foreign policies for doing business abroad and importing