Discuss about the Statistics and Research Method for Geographical Boundaries.
International business indicates to all the commercial transactions across geographical boundaries. It includes transaction likes sales, transportation, logistics and investments that occur across border among private and government business entities (Folsom et al., 2012). Private business entities target international market to enhance the present sales volume in order to achieve competitive advantage in the market. While government businesses mainly focus on international market for fulfilling all the political objectives. Now, international businesses are associated with different controllable and uncontrollable factors that can actually create impact on the international business level perspective. Specifically, uncontrollable factors like cultural barriers and climate barriers can actually create major challenges for international businesses. For that reason, businesses need to be extremely careful in order to assess all the barriers effectively. Moreover, emergence of e-commerce business has provided new dimension to the international business perspective. Furthermore, it has been assessed that people living in different parts of the world favor different products and services, which complicated the entire business procedure of the organizations. For that reason, the study will focus on evaluating all the contemporary issues that international business entities will have to face in sustaining its position in the global market. The study will also try to highlight all the prime factors that can create adverse impact on the increasing the reach of an organization in global market. Moreover, the study will also try to provide effective recommendations to all the business entities for fulfilling all the objectives associated with the international business.
According to Dunning (2012) international business allow organizations to utilize commercial transactions across the borders. Therefore, it helps organizations to increase their present profit level in an effective way. However, it also associated with several direct and indirect issues that can actually create barriers towards the path of success of the organization. Direct issues include challenges associated with management, logistics and raw materials. On the other hand, indirect issues are differences in culture, education, believes and religion. For that reason, in order to establish the business in the international market, organizations will have to focus on handling all the issues appropriately. As highlighted by Jenkins (2013) international business complicated the management decision-making procedure. As a result, it requires superior quality of knowledge and skills from the management to handle all the requirements related with the business process. Moreover, it has been assessed that international businesses also have to deal with different rules and regulations initiated by government of different countries. As a result, organizations have to focus on identifying different strategies for marketing a particular product all across the world.
Wild, Wild and Han (2014) have highlighted the fact that uncontrollable issues are the prime concern for business entities in order to fulfill its international expansion perspective. For instance, international businesses will have to deal with continues changes in taste and preferences of the global customers. As a result, organizations need to evaluate the penetration power of a particular product or service. Thus, it actually induces businesses to invest more on the market research sector in order to understand the needs and wants of the potential customers (Papadopoulos & Heslop, 2014). Furthermore, investment also has to be made on the R&D or innovation perspective, as it had to provide proper updates for all the products and services. On the other hand, Forsgren and Johanson (2014) have mentioned the fact that increasing popularity of internet and e-commerce platform has also provided new dimension to the international business perspective. In fact, it has created major challenges for the traditional business organizations in fulfilling their desired objectives. For that reason, it has become crucial for all the businesses to consider e-commerce application in fulfilling their business objectives.
As per the article by Casson (2013) organizations have to deal with different types of risk factors at the time of establishing business in the international market. Firstly, organizations must have to focus on the strategic risk aspect, as it would face fierce competition in the global market. Therefore, initiated strategies will have to create maximum impact on the popularity aspect in global market. It is expected that organizations have to deal with different substitutes and alternative products, which will enhance the risk factor to a greater level. Secondly, organizations also have to deal with the operational risk factor. It has been assessed that production cost varies from one country to another, which all the international businesses will have to face in order to establish it globally (Dunning, 2014). Moreover, required lead-time for completing entire process of operation also varies in different countries, which can actually create major challenges in fulfilling the demand of the market.
Hill, Cronk and Wickramasekera (2013) have highlighted political and technological risks as the prime components that contribute to the risk factor in a huge way. Now, political environment of a particular country plays a crucial role in developing legislative rules and regulations. It has been assessed that few countries are supportive for the foreign organizations. Therefore, it allows organizations to pay lesser tax in conducting the entire business activities. On the other hand, hostile countries are more likely to impose many rules and restrictions that eventually hamper the business process. Therefore, businesses will have to be extremely careful in deciding the process of establishing business in the international market. Conversely, technological risk is also a greater concern for international businesses. However, advance technologies also have provided huge support for the organizations (Poulis, Poulis & Plakoyiannaki, 2013). Still, it also has increased the risk level that businesses have to counter effectively. For instance, many people highlight the lack of security at the time of providing online payment to any international business entities. As a result, it can hamper the overall business level in a major way.
As highlighted by Verbeke (2013) macro environment focuses on highlighting different external factors that can have major impact on the international business perspective. For instance, cultural differences are considered among the prime challenges that businesses will have to face at the time of establishing itself in the international market. Specifically, it induces organizations to implement different communicational strategies for people in different geographical region in order to ensure that the popularity level remains at the optimum level. On the other hand, differences in currency unit is another prime challenges that international businesses will have to counter for fulfilling business objectives. It has been assessed that differences in the currency value often creates major challenges for organizations related to exchange rate fluctuation. Moreover, regulations related to monetary system also varies in different countries that create more challenges for businesses. As per the article by Cavusgil et al. (2014) international businesses frequently encounters challenges associated with differences in language used in different parts of the world. In fact, it has been assessed that many single countries use different languages, which increases the challenges for the organizations to communicate the message to all the potential customers effectively.
As mentioned by Preston and Windsor (2013) trade restriction is another crucial factors that international businesses will have face in order to fulfill all the activities effectively. For instance, many countries have developed restrictions regarding the amount of raw materials can be imported. As a result, international businesses would have to face huge amount of challenges in achieving superior quality of raw materials for maintaining the products standard. Moreover, different countries also have developed restriction regarding the percentage of foreign people can be recruited within an organization, which also has increased the level of challenges in a major way (Czinkota & Ronkainen, 2013). Finally, differences in per capita income or standard of living across the world also have increased the amount of challenges businesses will have to face in fulfilling all the objectives.
The above discussion has highlighted the fact that international businesses have to counter different issue for fulfilling all the objectives. It has also highlighted the fact that organizations will have to evaluate market condition continuously for assessing any changes in the business environment. Therefore, it requires more in-depth study to cover all aspects associated with the international businesses. Furthermore, analysis is also required in highlighting the significance of e-commerce sector on international business perspectives. It is also have to be evaluated that the best possible way to use e-commerce technique in handling contemporary issues associated with the international business.
In order to identify contemporary issues related to international business, research questions are as formulated as follows:
According to Taylor, Bogdan and DeVault (2015) research methodology represents a critical part of any study that must be completed comprehensively. Research methodology allows the study to identify a particular direction in fulfilling all the objectives. It includes factors like philosophy, approach and design that study needs to select effectively. Now, in order to identify contemporary issues associated with international business, selected methodologies are as follows:
As opined by Silverman (2016) research philosophy deals with nature, source and development of knowledge. Thus, effective use of philosophy can actually help study to capture in-depth knowledge about the research topic. Positivism, pragmatism and realism are the types of philosophies that studies consider for fulfilling objectives. Now, in order to identify contemporary issues associated with international business, the study would choose positivism philosophy. The study would choose positivism philosophy, as it would help to gain factual knowledge about the issues related to international businesses. Moreover, the study would consider positivism philosophy to make it independent from any other factors associated with research topic. Positivism philosophy would also help to include different statistical analysis tools for evaluating the collected information comprehensively. Conversely, pragmatism and realism approach would not be considered in this study due to lack of time limit.
Research approach is a critical aspect that studies will have to consider gratifying all the aims and objectives efficiently. Deductive, abductive and inductive represents the types of research approach that studies can consider in fulfilling all the objectives (Flick, 2015). For assessing the impact of contemporary issues on international business, the study would choose deductive approach. Selection of deductive approach would allow tests the assumptions and validity related to international businesses. Moreover, deductive approach also allows the study to test the entire formulated hypothesis comprehensively. As a result, it would allow adding value to the overall outcome of the study. Selection of deductive approach would also help to include different theories, concepts and models related to contemporary issues on international business perspectives. Therefore, it would increase the knowledge in handling issues of international businesses. On the other hand, the research would not select inductive and abductive approach, as it is not focusing on developing any new concepts.
According to Panneerselvam (2014), research design reflects common plan that studies focus at the time fulfilling all the objectives. Conclusive and exploratory are the types of research designs that studies employ for achieving goals and objective. Now, in order to assess different aspect of international business, the research would consider conclusive research design. Selection of conclusive design would allow collecting practical information about the research topic. Furthermore, it would provide clear structure about the research process, which eventually helps to fulfill all the intentions. Selection of conclusive design would also allow the study to include different previous literatures and concepts efficiently. As per the article by Neuman and Robson (2012) conclusive design has two parts namely casual and descriptive design. Here, the prime focus would be on using descriptive design to ensure all the contemporary issues related to international businesses are covered comprehensively. Therefore, it would help to identify the trend regarding the changes in the contemporary issues perspective. For that reason, it would help in providing recommendations to the international businesses in handling all the issues comprehensively.
Development of research process is another critical aspect of the research study, as it ensures all the activities associated with research completed within the given timeframe (Panneerselvam, 2014). For that reason, the study would focus on using systematic procedure to eliminate any confusion from the research process. First step of the research process would focus on developing clear objectives and aims related to international business perspectives. It would allow the study to have a direction to move forward. Moreover, it would also eliminate all types of confusion from the business processes. Second step would focus on developing literature review section with the focus on highlighting contemporary issues related to international businesses. Here, the study would include different previous articles, journals and business magazines for assessing information related to contemporary issues on international business. In this step, prime focus would be on including as much information as possible so that it can add value to the overall research study.
Third step of the study would focus on framing research questions or hypothesis for ensuring successful completion. Now, all the questions would be formed based on the previously developed objectives so that it does not create any types of confusion. Fourth step of the research study would focus on developing research methodologies, as it is essential for fulfilling all the objectives. In this step, the study would select appropriate philosophy, approach and design that will ensure successful completion with given timeframe. Fifth step of the research process would focus on data collection and analysis aspect. In this step, the study would consider different tools and techniques for ensuring in-depth information has been collected about the research topic. In this step, the study would also focus on choosing different statistical tools, which would help in analyzing the collected information effectively.
According to Miller et al. (2012), proper utilization of data collection technique is essential for capturing in-depth information about the research study. Therefore, the study would have to be extremely careful at the time of choosing data collection technique. Primary and secondary are the types of data collection strategies. Now, in order to identify contemporary issues associated with international business, the study would focus on primary data collection technique. It would allow the study to provide practical perspective about the contemporary issues on international business. Now, in order to use the primary data collection technique effectively, the study would focus on both quantitative and qualitative approach. For that reason, the study would develop two set of questionnaires for collecting both qualitative and quantitative information about international business. Qualitative questionnaire would include open-end questions where respondents can provide in-depth information about the research about the issues related to international business. In fact, it would also help to include different perspectives of the respondents about the issues related to international business. On the other hand, qualitative questionnaire would only include closed-end questions, as it would help the study to identify a specific trend.
Now, in order to use primary data collection technique comprehensively, the study would focus on including sampling technique. As per the article by Taylor, Bogdan and DeVault (2015) non-probability and probability are the types of sampling that studies use at the time of choosing respondents. For assessing the impact of contemporary issues on international business, the study would consider non-probability sampling technique. It would allow the study to select respondents with specific knowledge and skills. Here, the study would select 50 employees with international assignments for providing quantitative information. On the other hand, 25 managers with international assignments would be selected for capturing qualitative information about the issues related to international business. The study would also include different statistical tools for assessing the collected data appropriately.
The above discussion has highlighted the fact that the study is expected to highlight all the issues that international business will have to face currently. It is also expected that the study would highlight the kind of impact each issues can have on the international business perspectives. It is also expected that the study would assess the emergence of e-commerce on the international businesses. It would also likely to provide specific recommendations in handling all the contemporary issues related to international businesses.
References:
Casson, M. (Ed.). (2013). The Growth of International Business (RLE International Business). Routledge.
Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., & Rose, E. L. (2014). International business. Pearson Australia.
Czinkota, M. R., & Ronkainen, I. A. (2013). International marketing. Cengage Learning.
Dunning, J. H. (2012). International Production and the Multinational Enterprise (RLE International Business). Routledge.
Dunning, J. H. (2014). The Globalization of Business (Routledge Revivals): The Challenge of the 1990s. Routledge.
Flick, U. (2015). Introducing research methodology: A beginner’s guide to doing a research project. Sage.
Folsom, R. H., Gordon, M. W., Spanogle, J. A., Fitzgerald, P. L., & Van Alstine, M. P. (2012). International business transactions: a problem-oriented coursebook.
Forsgren, M., & Johanson, J. (2014). Managing networks in international business. Routledge.
Hill, C. W., Cronk, T., & Wickramasekera, R. (2013). Global business today. McGraw-Hill Education (Australia).
Jenkins, R. (2013). Transnational Corporations and Uneven Development (RLE International Business): The Internationalization of Capital and the Third World. Routledge.
Miller, T., Birch, M., Mauthner, M., & Jessop, J. (Eds.). (2012). Ethics in qualitative research. Sage.
Neuman, W. L., & Robson, K. (2012). Basics of social research: Qualitative and quantitative approaches.
Panneerselvam, R. (2014). Research methodology. PHI Learning Pvt. Ltd..
Papadopoulos, N., & Heslop, L. A. (2014). Product-country images: Impact and role in international marketing. Routledge.
Poulis, K., Poulis, E., & Plakoyiannaki, E. (2013). The role of context in case study selection: An international business perspective. International Business Review, 22(1), 304-314.
Preston, L. E., & Windsor, D. (2013). The rules of the game in the global economy: Policy regimes for international business. Springer Science & Business Media.
Silverman, D. (Ed.). (2016). Qualitative research. Sage.
Taylor, S. J., Bogdan, R., & DeVault, M. (2015). Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.
Verbeke, A. (2013). International business strategy. Cambridge University Press.
Wild, J., Wild, K. L., & Han, J. C. (2014). International business. Pearson Education Limited.
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