Internaational Business Management Essay
Topic 2: International Business Research
Peter Chege HD 333-1080/2015
Peninah Nyutu HD 333-1088/2015
Submitted to Dr. Oloko
INTERNATIONAL BUSINESS RESEARCH
What is international Business? * Is a business where transactions occur across the borders
What is research? * Research - is a process of inquiring. It is a systematic search for information. It also means carrying out a diligent enquiry or critical examination of a given phenomena * Research remains the most efficient and reliable source of knowledge.
What is International business research? * International business research has been described as the objective, systematic, …show more content…
(c) Challenges to international businesses
International businesses experience a lot of challenges such as; * Government constraints * Inadequacy of resources * Fragmentation of power in a country * The pressure to achieve economic goals more rapidly * Relationships with other Governments * Lack of information and inexperience in negotiations * Changing technology * Competitions
(d) Complexity of international businesses * The need to use different strategies * Questions to answer * Do I do I not * Where do I venture * Which products to sell * How do I enter market
Characteristics of information needed * The competitive information needs to have the right focus, despite the need to be provided faster, an early enough in order to be effective. * The information should be retrieved exclusively for the company in question owing to the fact that if all the industry enjoys this information, there seizes to exist, a hand in competitive gain. * The procurement of the information has to be done by internal staff but also by external market specialist.
Importance of international market research * To