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integrated service business

Analysis of Two Selected Articles
in the Area of  International Business

Introduction

With the development of globalisation, the world has been moving forward an integrated and interdependent system. The globalisationof production and market has made every nation’s historically separate economy connected. The global institutions help decline barriers to the free flow of goods, services, and capital. In this advantageous case, a lot of international business has appeared. It has been noticed that managing an international business differs from managing a domestic business because it involves a country’s politics, domestic economy, culture and citizens’ life.
This essay develops the topic using an example of two articles--IAG’S Asian business on track for profitand Offshore funding could lower deposit rates: Rabobank.
 
At first, this essay will introduce some information about the two companies and give us a brief introduction about the articles.After that, this essay will thedemonstrate  implicationsforthe Australian government,Australian businesses and Multinational corporations by detailedlyanalyzingthe selected articles. Thensome details in the articles are picked out to show some phenomenon. And some points in porter’s diamond account for these in a detailed and persuasive way.The essay will make a clear understanding of these twoarticles.It will choose the most relevant international business concepts or theories to analyse these articles.At last, the essay will draw a conclusion according to the analysis.
 

Implications of the Articles

IAG, Insurance AustraliaGroup Limited, was found in 1925.As the largest general insurance group in New Zealand and Australia,IAGmainly provides insuranceon commercialand personalproducts from some famous and trusted brands .According to the article, IAG chief executive Mike Wilkins has said that the company’s fast-growing Asian business is on track, and the insurer was in talks with potential partners to break into the Indonesia market, which would complete a strategy to operate out of six countries in the region. It also has showed that IAG is one of the few companies that have a clear growth strategy in Asia. Mr. Wilkins plans to establish insurance joint ventures in Malaysia, Thailand, India, China,Vietnam.
 
Rabobank is one of the world’s leading foodand agribusiness specialist bank.InAustraliaand New ZealandRabobank plays an important role in providing corporate financial services.According to the selected article,there is not much evidence of an easing in the deposit war between lenders,while here is no general trend occurring at this point in time. It launched a new “notice saver ” deposit product this month, requiring depositors to give 31.60 or 90 days’ notice before withdrawing funds.
 
It is apparent that these two companies plan to sell their products or services on the global market and they have make some strategies to investment in other countries. They have noticed the great influence of the globalisationand expect to broaden their foreign market to earn more profit. These measures have an impact on Australiagovernment, domestic firms and multinational corporations.
 
For the Australian government, it has played a very important role in the international business.On the one hand, it should make a movement to the market’s liberation and deregulation for various kinds of goods, services and assets. On the other hand, the government has to change its policies for better. It will make some policies to make the best use of its resources.Moreover,Porter’s theory of national competitive advantage and new trade theory justify government’s limited and selective intervention to help and encourage the development of certain export-oriented industries. In this case, the government canlay down some appropriatepolicies to help the domestic economic growth.Ithas to establishreasonablepolicies about the labour market with expansion of the international businesses. And the government will make changes to attract localtheand internationalinnovative both firms and individuals to operate and invest in the country.
 
For the domestic firms, the good reputation and advanced management of the international businesses could be a great threat, but it will also help the domestic firms build up capabilities and become more competitive(John M  S , 1991).Rabobank's success lies in its people and its structure which allows it to leverage its expert knowledge and global strength to leader in its commitment to sustainable practices and corporate social responsibility (CSR) initiatives.Rabobank is a global deliver superior client relationships and value. IAG also carry out investment and cooperation with other foreign companies and has achieved great success. These domestic firms can learn a lot form the great success of those international companies, such as IAG andRabobank. These domestic firms can also learn advanced management kills and technology.But on the other hand, they have to adoptmore effective strategies to strengthentheir own influence and power(Yves, L &Doz 1986).As an article shows, companies have spent considerable time focusing on their merger and acquisition strategies to become more competitive in the global market (Elena &Robert W 2006). The domestic firms should realize both its disadvantages and advantages.So, domestic firms can take effective measures to vanquish their international competitors.
 
As for themultinational corporations,it will be a great challenge to expand its business to foreign countries becausecountries are different and they will meet wider range of problems in an international business. The political environment has a great implication in the international business and foreign countries tend to favor their own products and services.IAG and Rabobank are trying hard to broaden their market in other countries. Other multinational corporations can also learn their experience and think out a more perfect plan to gain more profit. They also need to pay attention to the reaction of the government,because government intervention has imposed a lot of limits in the international trade and investment system.As a result, multinational corporations have to find ways to work within these limits.
 
 

SpecificAnalysis

International business is business conducted in more than one country. It is about buying and selling goods. After analyzing the content of the two articles, Porter’s Diamond can apply to both articles.Porter's diamond model has pointed out that some nations, and industries within nations, are much more competitive than others on aglobal scale due to someinherent reason (Michael, E P 1990).
 
The government has aidedsome cross‐border mobility, and  most countries have also laid down a series of macroeconomic reforms which would be more keyed to the needs of the international market. Different governments have different reactions. Somegovernmentshave centeredon improving their firms’ competitive advantages; while other governments have fixed  their attention to make sure that trade and foreign direct investment will help to promote and achieveeconomic goalsof their nations(Egelhoff, W G 1988).The political environment has a profound effect on the business management. This implies that the government’s difference of different countrywill greatly affectbusiness operation and add political risks to firms.  Likewise, the government will also be effected by the international businesses’ strategy. The products and services provided by the business will have a direct impact on citizens’ life, domestic economy, ups and downs of the stock.As Porter points out,factor conditions are advantageous factors in a country in that companiescan become more powerful if they take the best use of them (Michael, E P op. cit).The resource of the country has a direct connection with the country’s economy (Freeland &Jeffrey 1977).  So the government has to take measures to improve the country’s economy. Moreover, it will establish laws to ensure a legal and stable economy, to avoid officials’corruption, and to protect intellectual property.
 
Porter reminds us that prosperity of one kind of company isoften followed by correlative industries.  As ‘Related and Supporting Industries’ in Porter’s Diamond
shows, local suppliers cluster around producers and add to innovation(Michael, E Pop. cit).So the correlative industries in the country should seize this opportunity (Idol 1980).However, the rival companies in the country will encounter a threat from the international business. But this is also a great chance to improve the domestic company. Porter's Five Forcesmodel has pointed out that a firm prefers lessrivalry in the short term, but over the long run it is better to have more local rivalry because under the pressure of them local firms will try to innovate (Michael, E P op. cit). As a matter of fact, high local rivalryleads to less global rivalry. The fierce domestic market may developdomestic companies’abilitywhich can function as competitive advantages. As “Demand Conditions”in Porter’s Diamond shows, the local firms will pay more attention to their products other than the foreign firmswhena particular producthas more profit on localmarket than foreign markets, so the local firmswill have a competitive advantage for they will gradually export their goodproducts. ”(Michael, E P op. cit) Thehome market often has larger market and more demanding foreign markets. In this case, the domestic companiescancare more about improvements than fighting with those foreign companies(Egelhoff 1988).They should learn from these international firms but also develop their own unique  features. Actuallythey have more advantages than those international firms, for they know about the local people’s habits and preference. They can produce better products that can meet the perfect needs of people(Daniels J D  &Bracker J  1989). International firms will have many problems in providing suitable products and services(Paul W & Jonathan L C 1995). They have to consider the difference in countries, religions cultures, laws and people’s habits(Cavusgil 1984). And these actions of local firmswill increase global competitiveness ofthe local companies which deal with exporting goods. A large quantity of needs from a home market can accelerate firms’growth and creation.
 
In the 1960s, the name"international corporations" was used to define a company with a strong national identification. At that time, the home market was the company's most important focus. By the 1980s, international corporations had evolved into more globally oriented business. Then in this activity, multinational corporations become theprincipal participants. They are the players in the international business "game". As we know, successful companies lie in three kinds of competencies: superior technological know-how, reliable process, and close external relationship(Mascarenhas&Jamil1998).  Most multinational corporations are basedin developed countries. They operate business in more than one country, seeking for the maximal profits.They may be under the control of two or more governments. A multinational corporation may have joint ventures either in its foreign countries or home country as well as subsidiaries(StanleyM 1979). As multinational corporations operate in different regions, business managers have realized thatthe multinational corporationshave wider consumer marketsand internal and external relationships by using network(Dunning, 1980).  Multinational corporations will come across a lot of  difficulties when they are expanding their business to foreign countries. When Rabobank that we talk about in the second article in appendix, expand its business, there is a slight cooling. Rabobank is not a special one but an example of multinational corporations. The following are some examples of multinational corporations:American Telephone and Telegraph (U.S.), Toyota Motor Corporation (Japan), AG (BMW) , Telefonica de Espana (Spain) ,Siemens, AG (Germany) , SmithKline Beecham (UK) , Petroleum (Netherlands) ,Sony Corporation (Japan) .When they enter into other regions, they may suffer failure because the different political, cultural and social environment. In a multinational corporation, managers should make beneficial and correct strategies to cope with different circumstances (Doz, Y &Prahalad, C K 1984). What’s more, multinational corporations should learn to utilize the local resources and train a group of skilled person that can well manage a company(Derek T & Laura, H 1987).They need to find correct and appropriate way to broaden their market.
 
 
 
 
 
 
 

Conclusion

In conclusion, this essay gives specific analysis about international business based on twoarticle examples. At first, the implications for the two articles for the Australiangovernment, Australian firms and multinational corporations are narrated in a general way.After that, the essay will make a clear understanding of these two articles. And Porter’s Diamondis chosen to explain the point listed above in detail. Some details in the articles are picked out to show some phenomenon. And some points in Porter’s Diamond account for these in a detailed and persuasive way(Michael, E P op. cit).implications for  domestic firms’ correct reaction, multinational corporations’ right strategies  andgovernment policyhave been discussed in the body of the essay. It gives instruction about the operation of international businesses and the correct reaction of domestic firms and the government. With the process of globalization, international businesses have become a popular trend, every country and every firm (domestic firms and multinational corporations) should adopt appropriate way to deal with it.
 

 

References

 
Cavusgil, ST 1984, ‘Differences Among  Exporting Firms Based on the Degree of Internationalization’ , Journal of Business Science Research, vol. 12, pp. 195-208.
 
Daniels, JD&BrackerJ 1989, ‘Profit Performance: Do Foreign Operations Make a Difference?’International Review, vol. 29, no. 1, pp. 46-56.
 
Derek, T& Laura, H 1987, Personnel Management: A New Approach, Prentice-Hall International,Hemel Hempstead.
 
Doz, Y&Prahalad, CK 1984,‘Patterns of Strategic Control within Multinational Corporations’,Journal of International Business Studies, vol. 15, pp. 55-72.
 
Dunning, J 1980, Toward an Eclectic theory of international Production: Some Empirical Tests, Journal of International Business Studies, vol. 11, no. 1,
.
Egelhoff, WG 1988,‘Strategy and Structure in Multinational Corporations: A Revision of the Stopford and Wells Model’,Strategic Management Journal, vol. 9, pp. 1-14.
 
Elena & Robert, W 2006,‘ Integrating Global Organizations through Performance Measurement Systems ’,Strategic Finance,vol. 87, issue 7,pp. 30
 
Michael, E P 1990, The Competitive Advantage Of Nations ,the Free Press,New York
 
Freeland & Jeffrey 1977,Implications of Resources Directive Allocation Models for Organizational Design ,management science ,vol. 23, issue 10,pp. 105
 
Idol, C R 1980, ‘A Note on Specifying Debt Displacement and Tax Shield Borrowing Opportunities in Financial Lease Valuation Models’, Financial Management, vol. 9, no. 2, pp. 24-29.
 
John,M S ,1991, ‘Rival States,RivalFirms’, Cambridge university press, London
 
Mascarenhas&Jamil 1998, ‘Dynamics of Core Competencies in Leading Multinational Corporations’ , CaliforniaManagement Review, vol. 40 , issue 4 , pp. 117.
 
Paul,W& Jonathan, L C1995 , ‘ Adapting to Foreign Markets:ExplainingInternationalisation ’, International Business Review, vol. 4, no. 2, pp. 115-131.
 
Stanley, M1979 , managing and organizing    multinational  Corporations, Pergamon, Oxford.
 
Yves, L &Doz 1986,‘Strategic Management in Multinational Companies ’, Oxford, Pergamon.
 

Appendix


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