The Rules For Class Participation - 1278 Words

1. Explain the rules for class participation: a. You can’t use electronics in the classroom unless it’s a laptop and you’re taking notes. b. You can have any drink in class, but since the classroom isn’t a cafeteria, you can’t have food. c. If you get a tardy it’s a two point deduction and if you don’t attend a class it’s a four point deduction. d. A simple rule is to create a positive learning environment for everyone, so we must make sure to be respectful. If you are not, then points will be deducted from your grade. 2. Explain how the grading works a. There is a total of 300 points in this class and grades are determined by 10%. So for example from 270-279 would be a A-, 260-269 would be a B+, and so on and so forth. b. The deductions for late assignments is 2 point per day if not turned in. c. The due dates of the online assignments are September 15th, October 6th, 13th, 20th, 27th, November 10th, 17th, 24th, December 1st, and the 8th. The date for the midterm is November 6th and the final exam is December 15th, but you can take it early on the 10th of December. d. The only form of extra credit is the even numbered discussions that are worth ten points each. 3. List the required textbooks: The Hobbit, Bridge to Terabithia, and Power of Two. 4. a. Literature is the expression of the human condition. b. Literary criticism is the explanation of the what and how of literature. Discuss the importance of making connections with the audience a. The Power of Two is more thanShow MoreRelatedThe Use Of Online Discussion Boards ( Odbs )1682 Words   |  7 Pagesinteraction (Suler, 2010). Well-designed ODBs can be used to supplement in-class lectures. This allows nursing educators to use online interactions as an extension of the classroom environment (Suler, 2010). Major concepts in class can be emphasized and reinforced using the conversation threads of an ODB. 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The Effects of Evolving Technology on Business Industries Free Essays

string(106) " such that company transparency is relatively existent for those who can get hold of certain information\." The only thing in this world that is constant is change. This is a pretty well known saying which existed as long as I can remember. Looking back 50 years and more from today, I can recall how we used to tackle in class about how people have lived centuries ago. We will write a custom essay sample on The Effects of Evolving Technology on Business Industries or any similar topic only for you Order Now Globalization is the result of humans’ endless search for improvements and technological innovations. It is an integration of economy, labor and technology all over the world, even across international borders. This movement has increased the flow of capital, goods, competition and labor across borders which, in turn, had deeply changed the true meaning of citizenship. Today, the upsurge of developments in technology has an undeniable effect on how organizations function within and with other institutions. For an organization, its success and failure greatly depends on how the organization was structured to work. The drive to improve peoples living pattern is still the same drive or factor which triggers international firms to globalize their operations and with that, today’s latest technology makes the company’s and consumers life easier It enable companies to reduce cost by using powerful equipment and machineries while consumers can have easier access to the newest products in the market. The evolution of a new technology poses both threats and opportunities within the industry dynamics and alters the competitive forces. Industry leaders face the possibility of losing their number one spot and being replaced by new entrants and underdogs (because barriers to entry may be lowered). Therefore, technology transformations may provide major shifts in industry dynamics. Depending on its organizational capabilities, it may be good or bad to make drastic adjustments to the existing organization when a disruptive innovation occurs. Disruptive change occurs so intermittently that there is no routine response to them. How to adjust its new product development process depends on the organizations capabilities. Capabilities are its resources, processes (how they transform resources to products), and corporate values. While resources are adaptable to change, processes are not as flexible, and values are even less flexible. Therefore, when a disruptive technological change takes place, a company must look to its capabilities. If the change requires a tremendous amount of financial resources that the company does not have, then they obviously cannot invest in the change, on the flipside, if a large capital firm faces the same change, the investment in the disruptive technology may be so small that it is not worth their more valuable time. The same scenario goes for processes and values. Large firms may be so large, that altering their processes to suit a change may be too burdensome whereas smaller firms may have a much easier time making adjustments in their processes. In addition, it is more likely that a smaller firm’s values may be more flexible for disruptive change than large companies whose longstanding values are not easily adaptable. To overcome the natural inertial found in most large organizations, managers may create new structures within the organization where new processes can be developed. This involves taking out employees with the required capabilities and drawing a new boundary around them. When the organization’s values may not be compatible with the new processes, firms may create a whole new business venture which is wholly owned by the firm but located in a new location with the people and other resources necessary to create an environment conducive to the new process. And last, when a firm doesn’t have the supporting values, resources or processes for sustaining a new process, it may acquire another firm which does. Several factors may impact particular stages in the evolution of a new technology. For example, technological advances, changes in what consumers want or need, and changes in regulations may trigger a technology evolution. In addition, industry transformations often feed of environmental changes. However this necessary transformation, once triggered, does not actually begin until managers notice this need and act upon it. Once acting, managers seek to experiment, and this experimentation deeply impacts the industry as it helps shape what the new industry structure will be. Consequently, as experiments fail, the number of firms in the industry generally is cut in half, but occasionally may increase. An industry’s response to a new technology determines when and how the technological transformation will occur. Without managerial insight and decision making related to the technology, the current industry structure will persist. Managers are essentially the ones investing in these new technologies and they choose how and when to market them to the public, and therefore have ultimately the initial control over the transformation. If the industry as a whole does not respond favorably to the technology, they may not choose to invest and market it, therefore stunting its evolution. On the contrary, if they respond favorably, it helps accelerate the evolution of the transformation. If the industry as a whole is indecisive meaning some favor some do not and some are on the fence, the transformation may only see moderate growth, and depending on which direction opinions are swayed (for or against the technology), the transformation may be completed or the evolution may never meet its peak. One of the first innovations of technology was the mainframe system and it was during the 1960’s that computers and such started to impart in organizations and firms. The classic ways of hierarchal management systems started to disintegrate during these times. Through technological change, globalizing the operations of an international company could put up a plantation where they can reduce their labor cost. Not denying the fact that different people from different countries have different tastes, international companies could also personalize their products according to the consumers or markets preferences without eliminating their standards and trademark. Before, information control was basically handled by those in managerial positions in a linear manner according to rank. With these systems of technology, information was handled as such that company transparency is relatively existent for those who can get hold of certain information. You read "The Effects of Evolving Technology on Business Industries" in category "Essay examples" The onslaught of developments in technology has triggered organizational structure alterations. These changes can be illustrated by considering two key variables: the location of information and the location of decision rights in the organization (Brynjolfsson E. and H. Mendelsson). With the innovative technological systems today, important information can now possibly be available to all employees or workers in an organization at all level. Before, information handling and privilege was limited to the persons that directly handle them. Now, the responsibility of handling information is left to information technologists or technicians. The technicians then put data or information into databases which are accessible to all components of the organization For example, an organization can have a website, regularly maintained and updated by professional information technologists. Here, employees, managers and customers alike, can log on to the website and access whatever information they needed. Furthermore, having websites is also a great advantage since helpful feedbacks are easier to get from both customers and employees. The growing need for technology innovations paves way to strengthening certain industries in a corporate world; like data management services, computer engineers, information technologists, software designers or engineers and so on and so forth. Although there are still organizations or companies that are hesitant to use information technology, a growing number of organizations are opening to the possibility of restructuring their organizations to accommodate the privileges of using the modern information systems of today. Seeing as technology innovation not only saves time and money; it is also efficient and very flexible with respect to the organization that opts to infuse it in their existing structure. Not only does it revolutionize an organization from within. Through the substantially used World Wide Web, organizations can communicate and cooperate with other organizations in a faster, more efficient and cheaper way. Today, with the use of virtual offices, it is possible to close deals and agreements from participating people around the world without physically meeting each other. Nowadays, as more organizations focus on the importance of information flow, organizational structures continue to change into more complex systems.   As a result, there is also a continuous drive to make more improvements and advancement in the field of technological innovation. Nowadays, laptop and desktop have been swamped by new connectivity options. There are various of USB devices like Digital cameras, iPods, PDAs, FireWire, thumb drives and MP3 players; with current technologies such as Wi-Fi, Bluetooth and infrared (IrDA). With all these growing popularity of mobile gadgetry facilitating flexible working, evidently employees could work on the move. Endpoint systems today are easily available. They are user friendly and normally come with more than one feature. With all these conveniences, it also means that employees could be carrying around large amounts of sensitive information unaware of the potential risks. Not only can confidential data be lost, employees could also unwittingly introduce malware onto the network while uploading work from portable devices. However, together with this mobility in work, come various viruses which will bust your files as well as your gadgets. The influence of technology made a very big impact in the lives of people of today’s generation as well as totally changes the definitions of some of the world’s necessity, comfort and luxury. Whether it is a thing or a hobby, the identification of these classes has been change as time goes by. A car which was once called a luxury has been changed overtime and has now become a necessity. Televisions which was once only owned by royal families and other prominent people has now become a household item of which it already has become a necessity for it is where people get ideas of what is happening around them. Even though cars and televisions made living mush more accessible than before, the public is increasingly concerned about global warming and the negative environmental impacts of vehicles. (Clean Cars Alliance) Simple living as it is, our grandfather’s grandfather would ride on horses, plant trees and vegetables, raise cows, pigs and chicken, living under one roof with a family, sitting warm in front of the fireplace. These are the few comforts that men used to acquire. Back then, when a person owns a car, another home, have jewelries, it has been said that the person had lived luxuriously. But today, when technologies have changed, some of the past decades luxuries had become today’s necessities such as cars, cellular phones, different gadgets. Not only material things are affected but also of a man’s way of living. In, conclusion technology impacts should be seen as they truly are and not covered up by the media or industry, and even if they are individuals should be educated enough to realize the positives and negatives. If a company wishes to pursue becoming the industry technological standard, they must first be aware of the competitive strategies they can adopt to increase the probability of success. First, it is important to understand the need for a strong installed base. The installed base is the amount of customers/users of a particular piece of equipment or product that is necessary for the technology. Increasing the installed base for the technology is key, because a large installed base means there will most likely be a greater availability and widespread use of compatible products/software/applications. If the installed base for your technology is large and there is a large availability of applications or widespread use of compatible products, then your technology is another step closer to becoming the standard. With that, your technology is more valuable to consumers since they can use it in more places. A greater installed base, more available compatible products and providing greater value to the consumers leads to greater demand for the technology. As this continuous cycle keeps increasing the demand for your technology, it is well on its way to becoming the industry standard. A manager should ask several questions. First, it is important to know if a technology standard is needed or even desired in the industry. Second, it is important to perform market research to learn what customers want or need, this will help make the technology the standard if it satisfies the customer. Third, it is important to understand the market as a whole paying particular to competitors. Pursuing a technology standard makes sense for a firm when there is no current standard and one is desired by the industry. In addition, for some companies, becoming the industry standard may be essential in maintaining their leadership position and ensuring their existence in the long run.   There are different avenues that one can receive formal and informal education dealing with technological literacy, but there is always room for improvement, much like with technology itself. Going back to the saying that the only thing in this world that is constant is change, we understand that change is inevitable. And just like the billiard balls, it is change which moves people to experiment and innovate, making the world more comfortable and luxurious, yet complicated. Change, constant as it is, has the power to move, improve and change lives. Where men once lives only with necessities, change have been able to make men of today experience luxuries and comforts by making it today’s necessities. With this, the luxuries of the past has been a need of today, making the luxurious living from the past a more simple and yet more challenging living of today REFERENCES Brynjolfsson E. and H. Mendelsson.â€Å"Information Systems and the Organization of Modern Enterprise†. Center for Coordination Science. June 1993. Massachusetts Institute of Technology and The Center for Coordination Science. 19 December 2006 http://ccs.mit.edu/papers/CCSWP200/ Clean Cars Alliance. 23 November 2006 http://www.cfenv.org/air/cars/index.htm â€Å"Organizational Structure†.Wikipedia, the Free Encyclopedia. 18 April 2006. Wikimedia Foundation Inc. 19 November 2006 http://en.wikipedia.org/wiki/Organizational_structure.       How to cite The Effects of Evolving Technology on Business Industries, Essay examples

Global Business Emergence of Technologic Advancement

Question: Describe about the Global Business for Emergence of Technologic Advancement. Answer: Introduction The emergence of technologic advancement helps to create several leaps in the process of communication, information, financial flows, and transportation. The particular phenomenon has continued to cause the world to feel small and smaller, as everything is coming closer to the grasp of individuals and businesses across the world (Johanson and Mattsson 2015). According to Cavusgil (2014), the continuous growth in the technologic environment has offered multiple advancements in the international trade to generate key possibility for the companies and consumers to participate in the business transactions in almost any country worldwide. Based on the survey developed by World Trade Organization, the overall volume of international merchandise has enormously increased 35 times from 1951 to 2016. As part of preparing this report, an optimum strategy for market entry will be drawn up for Ego Pharmaceuticals by considering two different international markets, such South Africa and China. Ego Pharmaceuticals is one of the constantly growing companies of Australia with the aim of expanding its market within the international platform. The company has already established its presence in the international market, where this particular paper deals with establishing its subsidiaries in either South African or Chinese market. In order to achieve such aim, the paper will attempt to recognise the key risks and opportunities from the different perspectives associated with the specific markets to make a judicious selection of the proper market. Subsequently, it will focus on developing viable market entry strategy communicating with the marketing needs and objectives of the selection company for contributing the marketing success. It is worth to mention that establishing the operations in the international market decidedly relies on the fact that international brands and products are enthusiastically accepted by the consumers of a different country (Czinkota and Ronkainen 2013). Terpstra, Foley, and Sarathy (2012) importantly mentioned that the growing impact of globalisation has caused opportunities and challenges at the same time for the organizations for building their brand and venture in overseas. The noteworthy concern is the primary reason for undertaking the study based on the two different marketplaces and developing the rational understanding in the following segments. Background of the Company Ego Pharmaceutical is privately held Australian multinational corporation operating in the pharmaceutical industry with the involvement of a wide range of skin care products and services. The company has successfully developed its principal subsidiaries in some of the prevailing markets of Singapore, Malaysia, Hong Kong, and the United Kingdom. Apart from that, the international business of Ego can also be traced in the various other worldwide locations of the entire Middle East region (Ego Pharmaceuticals 2016). From analysing the companys website, one of the dynamic facts can be identified critically suggesting that the skincare products are explored, manufactured, and marketed by the firm for over 60 years while maintaining a workforce comprising of more than 450 employees. Amongst the identified number of workers, 125 staffs are based on international locations outside of Australia. Apparently, the company was founded as a home-based business in Melbourne in 1953 by a chemist with his wife and a nurse. By the period of 1960s, the company has been able to obtain the historic growth regarding its international operations by developing its business in New Zealand, New Guinea, and Singapore. It mostly capitalised in the exporting process to expand the business to the international platform (Ego Pharmaceuticals, 2016). Subsequently, the company has provided special attention to spread its global business in the Middle East region by constructing its regional office in Dubai. Apparently, the company is highly interested in providing critical priority in one of two markets of South Africa and China. For supporting the fulfilment of the identified aim, the subsequent information is developed for contributing the roles played by the department of international operation management. Analysis of Risks and Challenges Johanson and Mattsson (2015) have explained, when a firm make appropriate investment in the foreign market with the inclusion of a value-generating managerial and technological aptitude, both the customers from the target market and the shareholders of the company can be able to take benefits. However, achieving success through the international operations is far from assurance regardless the involvement of an obvious fit between the offerings of the foreign companies and the demands from the host countries (Papadopoulos and Heslop 2014). There is vast array of factors associated with the emerging and developed economies as political events, economic environment, and changes in societal attitudes continuously disrupting the outcomes of the best-laid plans for different economies. In the midst of the interplay of these forces, a multinational firm must need to make prominent choices by identifying the risks and selecting the appropriate approach for capturing the market. Risks and Challenges associated with South African Market The market position of South Africa is placed perfectly to take advantage of Sub-Saharan African environment driving the expectation of high level of growth rate in the different industries during the coming period (Terpstra, Foley, and Sarathy 2012). Due to such reason, increasing the number of companies and investors from dissimilar parts of the world including Europe and US are continuously seeking to capture the opportunities from the target market outside of their traditional marketing barriers. However, by the investigation from the commercial perspective, the market provides least amount of chances regarding the outside penetration irrespective of the robust market structure of its pharmaceutical industry (Paliwoda and Thomas 2013). Based on the study developed by Czinkota and Ronkainen (2013), restriction in market entry is considerably caused by the combined impact from various global, political, social, and economic tensions putting huge pressure on the South African managers. From the financial perspective, the practical participation of South African Reserve Bank is observed significantly due to the uniqueness of roles and functions played by the financial institution. The particular involvement of foundation has caused the risk management not only relying on the risk and return considerations but also taking account of the public interest by keeping the statutory and constitutional responsibilities in the same line (Wei, Samiee, and Lee 2014). In order to develop an international business process within the identified market, the critical investments of the company may significantly give rise to the multiple chief financial challenges like liquidity risk, market risk, and credit risk. With reference to Cavusgil (2014), the result of the investigation related to the outlook for the overall country suggests, the current economy is experiencing a much worse economy and constantly moving towards Fed lift-off. In such scenario, the country is expected having an insightful potential effect in its recent market trends through some major shifts in the sentiment on domestic characteristics (Shi et al. 2014). However, such criteria should need to be present in the marketers agenda. Lastly, the cross-cultural factors associated with the development of business activities by Ego Pharmaceuticals in South Africa are expected to pose some invisible barriers to business communications involving skills and strategies (Hilmersson and Jansson 2012). The particular business would encounter principle level of issues in embedding the cultural values, norms, and characteristics during manufacturing and distributing their skin care products effectively. Risks and Challenges associated with Chinese Market From the commercial aspect, an excessive level of importance is required to be provided by the marketers of an international firm for developing business platform in China. According to Turnball and Vall (2013), the Chinese economy is experiencing a great deal of challenges in its economies, as the country is involved in a huge number of commercial transactions from decades. Over the decades, the country participates in lofty volume of allocation related to funds and physical goods causing the overall scenario to become complicated (Shani and Chalasani 2013). However, Wei, Samiee, and Lee (2014) have clarified that the onset of increasing credit, demand for money, and economic development has contributed to the improvement of the identified risks from the commercial environment by raising the price approximately by 36 percent from 1987 to a1988. From the financial viewpoint, the specific market of the Chinese economy is going through a domestic reformation agenda extensively influenced by the sluggish growth of the countrys GDP over the past few years (Majaro 2013). Some of the critical factors observed during the investigation are continuously plummeting prices of production, weakening investment, production, imports, and economic activities. The combination of these factors has raised a detrimental effect to the overall financial environment of China. Based on the country specific viewpoint, it can be investigated that the Chinese market is indeed a growing pool of investments with the numerous application of trade and manufacturing activities. Due to such fact, increasing amount of companies from different countries is developing their international marketing strategies for entering the Chinese market for extending their business. Apart from the fundamental progress of the economy offering benefits to a large number of firms, new market entrants are gradually becoming more exposed to the substantial strain of competition (Piercy 2014). Lastly, the cross-cultural characteristics associated with the Chinese market are highly different from the Western countries like USA or Australia. Based on the findings outlined by Papadopoulos and Heslop (2014), China is noted as one of the most popular business destinations in Asia driving the particular nation to engage in the international collaboration with a diverse range of foreign partners. The special gaps regarding the cultural perspectives between Australia and China provide a critical degree of threats and challenges to the marketers of Ego to establish its business in the country (Brouthers 2013). Selection of Destination Country Based on the comparison of two different markets of South Africa and China, a proper selection should need to be made for providing assistance in securing the international marketing aim of the chosen organization. The result of the company analysis suggests that the firm has already established its international brand image in the Asian market. Therefore, this particular scenario is a profound platform for the company to establish its international presence in the African market. Therefore, from the preliminary viewpoint, the South African market seems to be an ideal scope for the company for providing the major focus. In case of the Chinese market, the market is full of tight competition with the parallel existence of the domestic firms as well as the key international market entrants (Reardon, Coe, and Miller 2015). Therefore, the marketing planning and investment may encounter a superior level of threats during their application within the identified market. Paliwoda and Thomas (2013) have signified the requirement of an elevated level of skills and techniques to be possessed by the marketers of a company to promote the establishment and smooth functioning of business in the Chinese market. Additionally, the sufficient involvement of the market players in progressing economy of the country has caused multiple diversities and complications in setting up a legitimate business activity in the Chinese market (Wei, Samiee, and Lee 2014). On the other hand, the study conducted by considering the marketplace of South Africa, the government offers the marketers and investors the satisfactory stability of a developed country. The individual sustainability is offered to the foreign companies operating in the marketplace by providing sufficient opportunities from its vibrant emerging market and associated climate (Papadopoulos and Heslop 2014). The combination of climate and constantly progressing market environment is highly capable of fostering the growth of international business within the country. Additionally, concerning the statement carried forwarded by Shi et al. (2015), the specific market is not highly swarmed by the participation of multiple market players due to the restrictions in entering the foreign market. Based on the comparative overview, South Africa can be referred to as the most sophisticated, diverse, and promising market for Ego Pharmaceuticals for ensuring capturing vivid opportunities from the emerging market (Piercy 2014). Lastly, from the outcomes of investigation, it is also observed that the particular market is strategically located at the centre of African continent receiving key investment opportunities to elevate the overall commercial platform. Discussion and Justification of Proposed Entry Mode for the Chosen Country Various ways are supporting a company to penetrate into the foreign markets. Out of the variety of methods, exporting, franchising, and contract manufacturing are the some of the important techniques applied wisely by the marketers to enter in a chosen international market. According to Czinkota and Ronkainen (2013), the marketers need to evaluate the specific risks and opportunities linked to their target market to judge the validity of nature related to the identified market entry strategy. Based on the company information, Ego Pharmaceutical has a vast range of experience in developing international business in the global market through the application of exporting strategies. Exporting is referred to as one of the most traditional and well-established forms of ensuring the establishment of international marketing initiatives in the global podium (Terpstra, Foley, and Sarathy 2012). Exporting simply deals with marketing the manufactured product of an individual company from one co untry to another. In order to develop an international marketing relationship in the South African market, exporting strategies should need to be employed by the marketers of Ego guided by the simplicity of the process. Apart from that, the overall approach discerns the engrossment of any direct manufacturing hub in the overseas market and downsizing the cost of investment in the overall marketing approach (Brouthers 2013). The selection of exporting strategy is based on the tendency of limited requirement of marketing information as compared to the contract manufacturing. Due to such factor, the overall process also negates necessary involvement of comprehensive marketing strategy in the first place. Alternatively, Turnball and Valla (2013) explained, exporting process eliminates the worries related to developing a suitable control over the market, unlike the venturing method. Most importantly, the exporting mode provides some critical advantages to the Australian drug manufacturing company, as the manufacturing operations will remain home-based driving the overseas operations to become less risky (Majaro 2013). Furthermore, the particular mode will provide vigorous opportunities to Ego for learning the overseas market before deciding upon investing in bricks and mortar stores. Figure 1: Suitable Export Marketing Model for Ego Pharmaceuticals for marketing its skincare products in the international market (Source: Turnbull and Valla 2013) Conclusion From the overall investigation and theoretical guidelines, it is estimated that the South African market is continuously becoming demanding to position it as one of the promising markets in the heart of African continent. It is also understood that Chinese market, despite becoming one of the fastest growing economies in the Asian content creating an extraordinary level of troubles and vulnerabilities for a new market entrant. It is critically observed that the economic growth offered by identified market highly contributes to the growth of industrialisation, which should need to be capitalised by Ego Pharmaceuticals through the implementation of a robust exporting strategy. The particular process will drastically contribute to achieving the critical aims regarding business expansion. References Brouthers, K.D., 2013. Institutional, cultural and transaction cost influences on entry mode choice and performance.Journal of International Business Studies,44(1), pp.1-13. Cavusgil, S.T., Knight, G., Riesenberger, J.R., Rammal, H.G. and Rose, E.L., 2014.International business. Pearson Australia. Czinkota, M.R. and Ronkainen, I.A., 2013.International marketing. Cengage Learning. Ego Pharmaceuticals., 2016. History - Ego Pharmaceuticals. [online] Available at: https://www.egopharm.com/company/history/ [Accessed 21 Sep. 2016]. Ego Pharmaceuticals., 2016. The Ego Pharmaceuticals History, Evolution Success Story. [online] Available at: https://www.egopharm.com/our-story/ [Accessed 21 Sep. 2016]. Hilmersson, M. and Jansson, H., 2012. Reducing uncertainty in the emerging market entry process: on the relationship among international experiential knowledge, institutional distance, and uncertainty.Journal of International Marketing,20(4), pp.96-110. Johanson, J. and Mattsson, L.G., 2015. Internationalisation in industrial systemsa network approach. InKnowledge, Networks and Power(pp. 111-132). Palgrave Macmillan UK. Majaro, S., 2013.International Marketing (RLE International Business): A Strategic Approach to World Markets. Routledge. Paliwoda, S. and Thomas, M., 2013.International marketing. Routledge. Papadopoulos, N. and Heslop, L.A., 2014.Product-country images: Impact and role in international marketing. Routledge. Piercy, N., 2014.Export Strategy: Markets and Competition (RLE Marketing). Routledge. Reardon, J., Coe, B. and Miller, C., 2015. Exploration of Expansion and Associated Timing Strategies for International Market Entry. InProceedings of the 1996 Academy of Marketing Science (AMS) Annual Conference(pp. 26-30). Springer International Publishing. Shani, D. and Chalasani, S., 2013. Exploiting niches using relationship marketing.Journal of Services Marketing. Shi, W.S., Sun, S.L., Pinkham, B.C. and Peng, M.W., 2014. Domestic alliance network to attract foreign partners: Evidence from international joint ventures in China.Journal of International Business Studies,45(3), pp.338-362. Terpstra, V., Foley, J. and Sarathy, R., 2012.International marketing. Naper Press. Turnbull, P.W. and Valla, J.P. eds., 2013.Strategies for international industrial marketing. Routledge. Wei, Y.S., Samiee, S. and Lee, R.P., 2014. The influence of organic organizational cultures, market responsiveness, and product strategy on firm performance in an emerging market.Journal of the Academy of Marketing Science,42(1), pp.49-70.

Global Business Emergence of Technologic Advancement

Question: Describe about the Global Business for Emergence of Technologic Advancement. Answer: Introduction The emergence of technologic advancement helps to create several leaps in the process of communication, information, financial flows, and transportation. The particular phenomenon has continued to cause the world to feel small and smaller, as everything is coming closer to the grasp of individuals and businesses across the world (Johanson and Mattsson 2015). According to Cavusgil (2014), the continuous growth in the technologic environment has offered multiple advancements in the international trade to generate key possibility for the companies and consumers to participate in the business transactions in almost any country worldwide. Based on the survey developed by World Trade Organization, the overall volume of international merchandise has enormously increased 35 times from 1951 to 2016. As part of preparing this report, an optimum strategy for market entry will be drawn up for Ego Pharmaceuticals by considering two different international markets, such South Africa and China. Ego Pharmaceuticals is one of the constantly growing companies of Australia with the aim of expanding its market within the international platform. The company has already established its presence in the international market, where this particular paper deals with establishing its subsidiaries in either South African or Chinese market. In order to achieve such aim, the paper will attempt to recognise the key risks and opportunities from the different perspectives associated with the specific markets to make a judicious selection of the proper market. Subsequently, it will focus on developing viable market entry strategy communicating with the marketing needs and objectives of the selection company for contributing the marketing success. It is worth to mention that establishing the operations in the international market decidedly relies on the fact that international brands and products are enthusiastically accepted by the consumers of a different country (Czinkota and Ronkainen 2013). Terpstra, Foley, and Sarathy (2012) importantly mentioned that the growing impact of globalisation has caused opportunities and challenges at the same time for the organizations for building their brand and venture in overseas. The noteworthy concern is the primary reason for undertaking the study based on the two different marketplaces and developing the rational understanding in the following segments. Background of the Company Ego Pharmaceutical is privately held Australian multinational corporation operating in the pharmaceutical industry with the involvement of a wide range of skin care products and services. The company has successfully developed its principal subsidiaries in some of the prevailing markets of Singapore, Malaysia, Hong Kong, and the United Kingdom. Apart from that, the international business of Ego can also be traced in the various other worldwide locations of the entire Middle East region (Ego Pharmaceuticals 2016). From analysing the companys website, one of the dynamic facts can be identified critically suggesting that the skincare products are explored, manufactured, and marketed by the firm for over 60 years while maintaining a workforce comprising of more than 450 employees. Amongst the identified number of workers, 125 staffs are based on international locations outside of Australia. Apparently, the company was founded as a home-based business in Melbourne in 1953 by a chemist with his wife and a nurse. By the period of 1960s, the company has been able to obtain the historic growth regarding its international operations by developing its business in New Zealand, New Guinea, and Singapore. It mostly capitalised in the exporting process to expand the business to the international platform (Ego Pharmaceuticals, 2016). Subsequently, the company has provided special attention to spread its global business in the Middle East region by constructing its regional office in Dubai. Apparently, the company is highly interested in providing critical priority in one of two markets of South Africa and China. For supporting the fulfilment of the identified aim, the subsequent information is developed for contributing the roles played by the department of international operation management. Analysis of Risks and Challenges Johanson and Mattsson (2015) have explained, when a firm make appropriate investment in the foreign market with the inclusion of a value-generating managerial and technological aptitude, both the customers from the target market and the shareholders of the company can be able to take benefits. However, achieving success through the international operations is far from assurance regardless the involvement of an obvious fit between the offerings of the foreign companies and the demands from the host countries (Papadopoulos and Heslop 2014). There is vast array of factors associated with the emerging and developed economies as political events, economic environment, and changes in societal attitudes continuously disrupting the outcomes of the best-laid plans for different economies. In the midst of the interplay of these forces, a multinational firm must need to make prominent choices by identifying the risks and selecting the appropriate approach for capturing the market. Risks and Challenges associated with South African Market The market position of South Africa is placed perfectly to take advantage of Sub-Saharan African environment driving the expectation of high level of growth rate in the different industries during the coming period (Terpstra, Foley, and Sarathy 2012). Due to such reason, increasing the number of companies and investors from dissimilar parts of the world including Europe and US are continuously seeking to capture the opportunities from the target market outside of their traditional marketing barriers. However, by the investigation from the commercial perspective, the market provides least amount of chances regarding the outside penetration irrespective of the robust market structure of its pharmaceutical industry (Paliwoda and Thomas 2013). Based on the study developed by Czinkota and Ronkainen (2013), restriction in market entry is considerably caused by the combined impact from various global, political, social, and economic tensions putting huge pressure on the South African managers. From the financial perspective, the practical participation of South African Reserve Bank is observed significantly due to the uniqueness of roles and functions played by the financial institution. The particular involvement of foundation has caused the risk management not only relying on the risk and return considerations but also taking account of the public interest by keeping the statutory and constitutional responsibilities in the same line (Wei, Samiee, and Lee 2014). In order to develop an international business process within the identified market, the critical investments of the company may significantly give rise to the multiple chief financial challenges like liquidity risk, market risk, and credit risk. With reference to Cavusgil (2014), the result of the investigation related to the outlook for the overall country suggests, the current economy is experiencing a much worse economy and constantly moving towards Fed lift-off. In such scenario, the country is expected having an insightful potential effect in its recent market trends through some major shifts in the sentiment on domestic characteristics (Shi et al. 2014). However, such criteria should need to be present in the marketers agenda. Lastly, the cross-cultural factors associated with the development of business activities by Ego Pharmaceuticals in South Africa are expected to pose some invisible barriers to business communications involving skills and strategies (Hilmersson and Jansson 2012). The particular business would encounter principle level of issues in embedding the cultural values, norms, and characteristics during manufacturing and distributing their skin care products effectively. Risks and Challenges associated with Chinese Market From the commercial aspect, an excessive level of importance is required to be provided by the marketers of an international firm for developing business platform in China. According to Turnball and Vall (2013), the Chinese economy is experiencing a great deal of challenges in its economies, as the country is involved in a huge number of commercial transactions from decades. Over the decades, the country participates in lofty volume of allocation related to funds and physical goods causing the overall scenario to become complicated (Shani and Chalasani 2013). However, Wei, Samiee, and Lee (2014) have clarified that the onset of increasing credit, demand for money, and economic development has contributed to the improvement of the identified risks from the commercial environment by raising the price approximately by 36 percent from 1987 to a1988. From the financial viewpoint, the specific market of the Chinese economy is going through a domestic reformation agenda extensively influenced by the sluggish growth of the countrys GDP over the past few years (Majaro 2013). Some of the critical factors observed during the investigation are continuously plummeting prices of production, weakening investment, production, imports, and economic activities. The combination of these factors has raised a detrimental effect to the overall financial environment of China. Based on the country specific viewpoint, it can be investigated that the Chinese market is indeed a growing pool of investments with the numerous application of trade and manufacturing activities. Due to such fact, increasing amount of companies from different countries is developing their international marketing strategies for entering the Chinese market for extending their business. Apart from the fundamental progress of the economy offering benefits to a large number of firms, new market entrants are gradually becoming more exposed to the substantial strain of competition (Piercy 2014). Lastly, the cross-cultural characteristics associated with the Chinese market are highly different from the Western countries like USA or Australia. Based on the findings outlined by Papadopoulos and Heslop (2014), China is noted as one of the most popular business destinations in Asia driving the particular nation to engage in the international collaboration with a diverse range of foreign partners. The special gaps regarding the cultural perspectives between Australia and China provide a critical degree of threats and challenges to the marketers of Ego to establish its business in the country (Brouthers 2013). Selection of Destination Country Based on the comparison of two different markets of South Africa and China, a proper selection should need to be made for providing assistance in securing the international marketing aim of the chosen organization. The result of the company analysis suggests that the firm has already established its international brand image in the Asian market. Therefore, this particular scenario is a profound platform for the company to establish its international presence in the African market. Therefore, from the preliminary viewpoint, the South African market seems to be an ideal scope for the company for providing the major focus. In case of the Chinese market, the market is full of tight competition with the parallel existence of the domestic firms as well as the key international market entrants (Reardon, Coe, and Miller 2015). Therefore, the marketing planning and investment may encounter a superior level of threats during their application within the identified market. Paliwoda and Thomas (2013) have signified the requirement of an elevated level of skills and techniques to be possessed by the marketers of a company to promote the establishment and smooth functioning of business in the Chinese market. Additionally, the sufficient involvement of the market players in progressing economy of the country has caused multiple diversities and complications in setting up a legitimate business activity in the Chinese market (Wei, Samiee, and Lee 2014). On the other hand, the study conducted by considering the marketplace of South Africa, the government offers the marketers and investors the satisfactory stability of a developed country. The individual sustainability is offered to the foreign companies operating in the marketplace by providing sufficient opportunities from its vibrant emerging market and associated climate (Papadopoulos and Heslop 2014). The combination of climate and constantly progressing market environment is highly capable of fostering the growth of international business within the country. Additionally, concerning the statement carried forwarded by Shi et al. (2015), the specific market is not highly swarmed by the participation of multiple market players due to the restrictions in entering the foreign market. Based on the comparative overview, South Africa can be referred to as the most sophisticated, diverse, and promising market for Ego Pharmaceuticals for ensuring capturing vivid opportunities from the emerging market (Piercy 2014). Lastly, from the outcomes of investigation, it is also observed that the particular market is strategically located at the centre of African continent receiving key investment opportunities to elevate the overall commercial platform. Discussion and Justification of Proposed Entry Mode for the Chosen Country Various ways are supporting a company to penetrate into the foreign markets. Out of the variety of methods, exporting, franchising, and contract manufacturing are the some of the important techniques applied wisely by the marketers to enter in a chosen international market. According to Czinkota and Ronkainen (2013), the marketers need to evaluate the specific risks and opportunities linked to their target market to judge the validity of nature related to the identified market entry strategy. Based on the company information, Ego Pharmaceutical has a vast range of experience in developing international business in the global market through the application of exporting strategies. Exporting is referred to as one of the most traditional and well-established forms of ensuring the establishment of international marketing initiatives in the global podium (Terpstra, Foley, and Sarathy 2012). Exporting simply deals with marketing the manufactured product of an individual company from one co untry to another. In order to develop an international marketing relationship in the South African market, exporting strategies should need to be employed by the marketers of Ego guided by the simplicity of the process. Apart from that, the overall approach discerns the engrossment of any direct manufacturing hub in the overseas market and downsizing the cost of investment in the overall marketing approach (Brouthers 2013). The selection of exporting strategy is based on the tendency of limited requirement of marketing information as compared to the contract manufacturing. Due to such factor, the overall process also negates necessary involvement of comprehensive marketing strategy in the first place. Alternatively, Turnball and Valla (2013) explained, exporting process eliminates the worries related to developing a suitable control over the market, unlike the venturing method. Most importantly, the exporting mode provides some critical advantages to the Australian drug manufacturing company, as the manufacturing operations will remain home-based driving the overseas operations to become less risky (Majaro 2013). Furthermore, the particular mode will provide vigorous opportunities to Ego for learning the overseas market before deciding upon investing in bricks and mortar stores. Figure 1: Suitable Export Marketing Model for Ego Pharmaceuticals for marketing its skincare products in the international market (Source: Turnbull and Valla 2013) Conclusion From the overall investigation and theoretical guidelines, it is estimated that the South African market is continuously becoming demanding to position it as one of the promising markets in the heart of African continent. It is also understood that Chinese market, despite becoming one of the fastest growing economies in the Asian content creating an extraordinary level of troubles and vulnerabilities for a new market entrant. It is critically observed that the economic growth offered by identified market highly contributes to the growth of industrialisation, which should need to be capitalised by Ego Pharmaceuticals through the implementation of a robust exporting strategy. The particular process will drastically contribute to achieving the critical aims regarding business expansion. References Brouthers, K.D., 2013. Institutional, cultural and transaction cost influences on entry mode choice and performance.Journal of International Business Studies,44(1), pp.1-13. Cavusgil, S.T., Knight, G., Riesenberger, J.R., Rammal, H.G. and Rose, E.L., 2014.International business. Pearson Australia. Czinkota, M.R. and Ronkainen, I.A., 2013.International marketing. Cengage Learning. Ego Pharmaceuticals., 2016. History - Ego Pharmaceuticals. [online] Available at: https://www.egopharm.com/company/history/ [Accessed 21 Sep. 2016]. Ego Pharmaceuticals., 2016. The Ego Pharmaceuticals History, Evolution Success Story. [online] Available at: https://www.egopharm.com/our-story/ [Accessed 21 Sep. 2016]. Hilmersson, M. and Jansson, H., 2012. Reducing uncertainty in the emerging market entry process: on the relationship among international experiential knowledge, institutional distance, and uncertainty.Journal of International Marketing,20(4), pp.96-110. Johanson, J. and Mattsson, L.G., 2015. Internationalisation in industrial systemsa network approach. InKnowledge, Networks and Power(pp. 111-132). Palgrave Macmillan UK. Majaro, S., 2013.International Marketing (RLE International Business): A Strategic Approach to World Markets. Routledge. Paliwoda, S. and Thomas, M., 2013.International marketing. Routledge. Papadopoulos, N. and Heslop, L.A., 2014.Product-country images: Impact and role in international marketing. Routledge. Piercy, N., 2014.Export Strategy: Markets and Competition (RLE Marketing). Routledge. Reardon, J., Coe, B. and Miller, C., 2015. Exploration of Expansion and Associated Timing Strategies for International Market Entry. InProceedings of the 1996 Academy of Marketing Science (AMS) Annual Conference(pp. 26-30). Springer International Publishing. Shani, D. and Chalasani, S., 2013. Exploiting niches using relationship marketing.Journal of Services Marketing. Shi, W.S., Sun, S.L., Pinkham, B.C. and Peng, M.W., 2014. Domestic alliance network to attract foreign partners: Evidence from international joint ventures in China.Journal of International Business Studies,45(3), pp.338-362. Terpstra, V., Foley, J. and Sarathy, R., 2012.International marketing. Naper Press. Turnbull, P.W. and Valla, J.P. eds., 2013.Strategies for international industrial marketing. Routledge. Wei, Y.S., Samiee, S. and Lee, R.P., 2014. The influence of organic organizational cultures, market responsiveness, and product strategy on firm performance in an emerging market.Journal of the Academy of Marketing Science,42(1), pp.49-70.