Week 2, Discussion 2 Essays

Submitted By rbordon25
Words: 374
Pages: 2

The action steps a manufacturing business need to decide whether to trade with a foreign country or not, is determining which foreign market(s) to enter, analyze the resources needed to enter that foreign market, and decide the best way to organize and run the foreign expenditure. When determining which foreign market(s) to enter, a manufacturing business needs to analyze and predict which foreign market would be best suited for their business. Also a manufacturing business needs to analyze the resources needed to enter that foreign market. For example, an electronics manufacturing company that wants to enter a foreign market, they would need a foreign market that would have a surplus of well-educated people that would be able to go through a training program. Lastly, a manufacturing business would need to decide the best way to organize and run their business overseas. They would need to either send one of their executives to live in their new foreign market to run the overseas operations or either hire someone there to run the business. For a service business they would have the same action steps as a manufacturing business. They both would need to determine which foreign market(s) to enter, analyze the resources needed to enter that foreign market, and decide the best way to organize and run the foreign expenditure.

The three key factors for participating in the information economy on a global basis is money, trade barriers, and technology. Money is always a key…