7-1 final project

INT 220 Business Course Project Students Name Institutional Affiliation Course Code and Name Instructors Name Date INT 220 Business Course Project Section One: Drivers for Global Entry Country Selection The chosen country for the global expansion is Brazil. Purpose of Global Expansion Global expansion is one of the strategies that have facilitated the growth of many companies. One of the most important aspects of such expansion is that it exposes a company to new markets, thus increasing its profit-making capabilities. When operating in a domestic market, the chances of market saturation are high due to competition and consumers that no longer require a particular product. Therefore, expanding internationally offers the company a new demand that could increase its sales (Keohane & Nye, 2020). Another benefit of globalization is that it facilitates innovation. New markets present organizations with business ideas that could diversify their portfolio. For instance, a company might discover a market that requires more than its existing products and, in turn, make new products. Additionally, the new cultures in the international markets give the companies a new fit for their products. This reduces marketing costs, thus increasing the profit margin. Business Impacts of Global Business Global organization can highly affect a business depending on the new markets and the products that it sells. One major impact occurs in terms of strategic planning. When entering new markets, businesses face uncertainty, which might make it challenging to plan effectively regarding marketing and hiring. Therefore, the company should have a strategic team to research the international market. The research involves understanding the market's cultures and consumer preferences. These factors make it easy for the company to make decisions different from those in the domestic market. Globalization also affects marketing because the organization must deal with a new market (Keohane & Nye, 2020). t. In such a case, it is crucial to understand consumer behavior to ensure that advertising efforts target the right audience. Failure to which the company risks failing its operations in an international market. The expansion also affects supply-chain management because the company has to think about shipping in the global market. However, this could take two forms. The company can choose to keep all operations in the domestic company or set up branches in the global market. In such a case, planning is necessary regarding supply-chain management for the new branches. This aspect highly affects human resources because the company is required to hire talented individuals from the host countries. Hence, the human resource department has to make tough decisions to hire reliable candidates to keep the business running. Societal Impacts of Global Business One of the major impacts of globalization on society is in terms of culture. Foreign companies in the host countries might bring in their employees to run new ventures. Additionally, they are sometimes required to hire from the locals due to cost-effectiveness. The interaction between the foreigners and the locals leads to cultural exchanges. The cultural changes could, in turn, affect the local society through cultural assimilation (Keohane & Nye, 2020). Another highly affected area is the environmental climate, es...