INT 220- week1- Benefits of Global Expansion PDF

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INT 220- week1- Benefits of Global Expansion...

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1-2 Assignment: Benefits of Global Expansion Yan Li INT 220: Global Dimensions in Business Professor Debester Parker 09/05/2021

Domestic Business is a business that conducts its products and services within the nation. International business is two more businesses that exchange or trade goods or services between countries in the world. Key characteristics of Domestic Business could be limited resources, certain markets, and capitals, but it has more local advantages and fewer restrictions. On the other hand, international business is more complex and has to consider all possible aspects such as language, culture, government policies, and different laws in which your market is. Being an international business means that there are more customers, more capital, more supplies, and more potential to grow. Different organizations can provide us with examples of how domestic and international businesses work. Domestic businesses are usually small and local such as privately owned nail salons and restaurants. They offer local service for local people or who pass by and have interests in their service and products. However, international businesses are larger and have existed for many years, such as Coca-Cola and Amazon. Amazon is the world's largest multinational online retailer company, focusing on e-commerce, cloud computing, digital streaming, and artificial intelligence. Coca-Cola is a total beverage company, offering over 500 brands in more than 200 countries and territories.

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There are many benefits of expanding from domestic to international business. For example, Dr. Katherine pointed out 5 main reasons why companies are going internationally in her speech. They are “finding the availability of supplies, aiming for cheaper and more costeffective manner, looking for new markets to expand for more opportunity and profits, having lower labor costs, accessing more finance capitals, and avoiding the tariffs and import quotas” (Rosenbusch, 2016). Furthermore, the quality standards of the products from domestic are lower than the high quality of international business at the same price range. So, the international business could have more benefits than domestic. Expanding at an international level brings new ethical standards to the business. There are some ethical issues that international businesses are facing, such as child labor, work conditions, human rights, and environment friendly. While considering those ethical issues, using five points within the ethical decision-making frameworks from Dunung’s book, which are: “Is it an ethical issue? Get the facts. Evaluate alternative actions. Test your decision. Just do it, implement the decision” (Dunung 2019).

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References Coca-colacompany.com (2021) Our Company. Retrieved from: https://www.coca-colacompany.com/company Dunung, Sanjyot P. (2019). Global Business Management. Boston, MA: FlatWorld Chapter 1 Introduction to Global Business Management. Rosenbusch, Katherine. (Academic). (2016). Becoming an effective global manager [Video]. SAGE Knowledge. https://www-doi-org.ezproxy.snhu.edu/10.4135/9781473980655...