1. Expanding overseas for a business is tricky. Aside from the cultural differences, the ways of doing business, the legal systems, and the economic systems present challenges to a business from another country.
Explain in detail what challenges face a business when they expand into overseas market and suggest possible ways that a business can overcome the challenges.
2. There are four common ways for a firm to expand its operations into overseas markets: importing, exporting, licensing, and franchising.
Select the one method that you would use if you were the CEO of a large company. Then, explain in detail why this approach is particularly appealing.
Be sure to define what the method is and how the method benefits or does not benefit a company. Be sure to use concepts from the course readings to support the reasoning or conclusions.
Note: When explaining importing and exporting options, pay attention to the discussion last week about the balance of trade. You may want to review the information on this in the Exploring Business chapters.