Challenge yourself by referring to a journal article either on google scholar or university of Suffolk to support your point

Acces to new markets

Sharing knowledge, technology and culture

Lower costs for products

Worker exploitation

High investment

Taxes across borders

International recruiting

•Buying/selling on international market

•Avoid market saturation

•Share of businesses/Goods all over the world

•Share of languages/cultures…

•Technology development/social media/communications

•Sharing knowledge

-Increasing competition

-Loss of cultural identity

-Global expansion difficulties

-Immigration challenges and loss of local jobs

•Originally founded in 1905 in London by a 24-year-old Hans Wilsdorf and brother-in-law Alfred Davis, Rolex was first known as Wilsdorf and Davis.

And the company were established in 1915 .

• Rolex doesn’t go in or out of fashion

•High quality

•Premium design

•Best-of-best material used

•Inventing the first waterproof wristwatch

•Rolex invented the blue parachrom hairspring which made the watch’s movement 10 times more resistant to shocks while remaining unaffected by magnetic fields.

•For the divers, Rolex created the Submariner in 1953, which was the first divers’ watch that was waterproof up to 100 meters. This watch also featured a rotating bezel that allowed divers to measure their time underwater, crucial for knowing their remaining oxygen.

Provide financial products and technical as. Help countries share and apply innovative knowledge and solutions to the challenges they face.

Help countries improve their business climate in key ways, such as supporting labor market reforms, advising on public-private partnerships, implementing pro-competition market policies, and introducing sector-specific regulatory changes.

-is an organization of 190 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

•It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being.

• The IMF is governed by and accountable to its member countries.

• Facilitation of a balanced international trade

•Reduction of poverty around the world.

•Promotion of high employment through economic assistance and sustainable economic growth.

•Controlling global conditions and recognising financial risks among its member countries.

•Providing advice to the member countries for a faster economic development.

Investigate why this happened

challenge - what could they have done to prevent this in your opinion?

C&A

In 2000, due to competition from Tesco and Asda, as well as from expanding high street names such as H&M, Zara and Topshop, C&A announced its withdrawal from the British market, where it had been operating since 1922 and had 109 stores. The last UK retail stores closed in 2001. Primark bought 6 C&A stores.

And a new wave of discounters has grown up including New Look, Matalan, Peacocks and Primark. These stores have wooed shoppers with more fashionable merchandise than C&A sells and at cheaper prices.

Challenge - my opinion, they should have lowered production costs (sold cheaper items) and stayed update with fashionable trends

•The company suffered financial difficulties in the 21st century and entered administrationtwice, in April 2019 and April 2020.

The high rent,reduced sales,COVID-was few of the most important things which affected the business.Debenhams also suffered a huge loss of jobs, and it went bankrupt.

•After 243 years in business, the remaining Debenhams department stores closed for the final time during May 2021.

1) What are trading blocs?

2) What are the advantages of trading blocs?

3) What are the disadvantages of trading blocs?

Post your ideas to padlet

Trading blocs are groups of countries that build rules for trade between all participating countries. These rules are designed to limit trade barriers such as subsidies, tariffs

2) Advantages of TB

•No tariffs

•No border check

•they can increase trade between member countries.

•By reducing barriers to trade, such as tariffs and quotas, member countries can trade more freely with one another, which can increase the volume of trade and promote economic growth

3) Disadvantages of TB

•Loss of sovereignty and independence

2) Some of the advantages are enabling free trade between geographically close countries. Aiming to lower prices, increased export potential, higher growth, economies of scale and greater competition.

3)The main disadvantage of trading blocs in international business is that they can lead to trade diversion. Trade diversion occurs when member countries shift their trade from non-member countries to member countries, even if the non-member countries are more efficient producers.

The main advantage of the trading blocs is free trade between close countries, that lead for lower price items for consumers, export is been increased also it develops economy and competition between markets.

Disatvantage in international business, they can lead to trade diversion, also depending of the country and political situation how leaders deal to other countries.

On 8 August 1967, five leaders – the Foreign Ministers of Indonesia, Malaysia, the Philippines, Singapore and Thailand – sat down together in the main hall of the Department of Foreign Affairs building in Bangkok, Thailand and signed a document. By virtue of that document, the Association of Southeast Asian Nations (ASEAN) was born.

The ASEAN Charter serves as a firm foundation in achieving the ASEAN Community by providing legal status and institutional framework for ASEAN. It also codifies ASEAN norms, rules and values; sets clear targets for ASEAN; and presents accountability and compliance. The ASEAN Charter entered into force on 15 December 2008 at the presence of ASEAN Foreign Ministers at the ASEAN Secretariat in Jakarta.

•The euro is the shared official currency of 19 EU members known collectively as the eurozone.

•In recent years, the EU has expanded to include many of the countries that had been Soviet Socialist States before the collapse of the Soviet Union.

•In the 2016 referendum known as Brexit, the U.K. voted to leave the EU. It officially left in 2020.

3

•OPEC is a cartel that aims to manage the supply of oil in an effort to set the price of oil on the world market, in order to avoid fluctuations that might affect the economies of both producing and purchasing countries.

•Countries that belong to OPEC include Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela (the five founders), plus Algeria, Angola, Congo, Equatorial Guinea, Gabon, Libya, Nigeria, and the United Arab Emirates.

The Organization of the Petroleum Exporting Countries is a cartel consisting of 13 of the world’s major oil-exporting nations.

OPEC aims to regulate the supply of oil in order to set the price on the world market.

•The arrival of fracking technology for natural gas in the U.S. has reduced OPEC’s ability to control the world market.

•The organization was established in 1960 by its founding members Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.

While OPEC does ensure that there is a steady supply of oil in the global market, it has come under fire for holding considerable power in the industry, which allows it to keep prices as high as possible.

2.What is the impact of culture on global business?

3.What is Hofstede’s dimensions? What are its strengths and cultural dimensions?

2.Culture is essential in international business because it influences how multinational and cross-cultural teams interact and collaborate

The larger that group becomes, the more noticeable National Culture will also be.

1. People-centricity

2. Individual learning

3. Organizational learning

4. Diversity and inclusion.

   
   

   The company use a invidualism culture dimension.To ensure support for people, the company’s workplace culture motivates employees to communicate with management to help improve processes and procedures. Employee behaviors based on this corporate culture influence the effectiveness of McDonald’s marketing mix (4P).

   
   

   Hergete, J. (2023). Challenges to Corporate Culture: Today and Tomorrow. In Shaping Corporate Culture: For Sustainable Business Success (pp. 149-157). Berlin, Heidelberg: Springer Berlin Heidelberg.

Finance is the function of handling the company’s money. This core function exists to ensure that the business spends and invests money properly so that it can continue to operate successfully.

Sales and marketing
Every business needs its target audience to:

• Know that it exists

• Understand what it does

• Regard it as being trustworthy

• View it as a provider of products or services they need

The core function of marketing creates brand awareness and engages potential customers.

Manufacturing and Production .

The manufacturing function is primarily responsible for implementing and operating the production system in order to produce the product. Manufacturing may also include purchase, distribution, and installation as well as the physical manufacture of the component.

E.g Mcdonald’s is a food chain company that has made effective use of glocalization to expand its business worldwide. Mcdonalds sell beef burgers in other countries of the world, whereas in India, the beef burger is replaced by Mcaloo Tikki burgers.

There’s no beef or pork on Starbucks’ menu in India. They mainly serve vegetarian options to suit the tastes of their Indian customers—most of whom don’t eat beef or pork for religious reasons

2. Know your audience

3. Tell your brand’s story

4. Use photos and videos to promote your products

5. Establish a social media strategy

6. Use influencer marketing

7. Create a content marketing strategy

8. Focus on events

9. Use email marketing and retargeting

10. Run giveaways on social media

Planning & Sourcing

Making & Delivering

Returning & Enabling

► Making- this component involves the coordination of the production of the planned goods and services. That includes reviewing the accepted raw materials, manufacturing the product, quality testing, and packaging.

► Delivering- involves distribution and retailing the final products. That involves coordinating the orders, scheduling delivery, dispatching or transporting the goods, invoicing, and receiving payment.

•Inventory Management

•Response and Supply planning

•Sales and operations planning (S&OP)

•Demand-driven replenishment (DDMRP)

•Supply chain monitoring

•Identifying and selecting suppliers

•Negotiating contracts

•Establishing relationships to support the overall chain.

● Cost reduction

•Optimising procurement process

•Streamlining production and manufacturing

•Reducing transportation and warehousing expenses

●Improved efficiency

•Increase throughput

•Minimise waste and resource consumption

•Streamline processes across the supply chain

●Enhanced customer satisfaction

•Ensuring on-time delivery

•Providing high-quality products

•Offering exceptional customer service and support

●Increased flexibility and agility

•Responsive production planning

•Quick decision-making and adaptation to changing circumstances

•Building strong and flexible relationships with suppliers and partners

●Risk management

•Supplier disruptions or failures

•Political and economical instability

•Natural disasters and extreme weather events

●Sustainability

•Implementing eco-friendly production processes

•Reducing waste and energy consumption

•Sourcing materials and components from sustainable suppliers

•Incorporating circular economy principles(reduce,reuse,recycle)

This supply chain model is for industries, which belong to highly competitive markets like the cement and steel industries. The main motto of this model is maximising end-to-end efficiency along with increased rates of asset utilisation for reducing costs.  

With this supply chain model, the business expects to provide accurate production forecasts for preparing raw materials and machinery accordingly. The competition is almost completely based on cost. 

This supply chain model is perfect for products where there is a requirement for potentially unlimited or multiple product configurations. This model has a high correlation between total cost and asset cost. 

Product configuration takes place during the assembly process where the assembling is done as per the specifications of the customer. This supply chain model has a unique combination of the different processes of the agile supply chain model and the continuous-flow supply chain model. 

The organization needs to train their people properly. Well-trained people can master their roles, make the right calls, and become high-performers.

Organizations need to equip their people with the right tools and processes to improve their chances of success.

•Accurate information

•Comprehensive Control

•Rapid Decision-making

•Ease of Scaling

•Cost-Effectiveness

•Less liability