How Important Are PLESTE Factors In Terms Of International Marketing - Free Essay Example

Sample details Pages: 3 Words: 774 Downloads: 8 Date added: 2017/09/20 Category Business Essay Type Analytical essay Level High school Tags: Political Essay Did you like this example? 1. How important are PLESTE factors in terms of international marketing The PLESTE (Political, Legal, Economic, Social/Cultural, Technological and Environmental) factors determine the success or failure of any company when moving into international market either through Joint venture, acquisition, partnership or any other. It also determines how well the company can easily localise its products and services and gain market or cost leadership position. Political factors refer to government policy and the stability of the political system in the host country. Investor will obviously be scared of investing in a country such as Somalia because of the prevalence of war. Economic environment has a major impact on the strategic decisions to be taken to operate in any country as the profitability of the business depends highly on the interest rates, taxation rates, inflation and the exchange rates. Before the investment is done, it is crucial to observe these economical factors. F or instance the lower interest rates encourage an investment which helps the company to increase the D/E rate by borrowing from the host company for low prices. On the other hand a strong currency which goes hand in hand with the low interest rates may have negative effects on exporting because of the high prices in terms of foreign currency. Legal environment in which companies operate affects behaviour of the firm. The legislation like competition, health and safety and employment law influence the new systems and procedures to be developed for operating in the host market. Social/Cultural factor play a deciding role in the companies’ product ranges sold in a particular country. The social environment including the cultural norms, the demography and population which helps to determine its product ranges. Product differentiation and localization becomes crucial if the host country and the companies’ original country are culturally far away from each other. Cultu ral distance includes religious beliefs, race, social norms, and language all of the differences which the company has to analyse in depth to foresee the market demand for the company products. Technological advances have shaped the way the consumers select and buy products, the way they make their payments and their expectations presales and post sales. Technology has not only created new products but also streamlined the traditional processes which changed the way business is done. Companies profited from the cost reductions, quality improvements and product innovation. For instance developing country like Nigeria now has instance access to the latest version of Windows operating systems and product such as iphone 4 is also marketer round the world because the internet is now a marketing tools through which customers can view available range of products offering. Environmental Factors like weather and climate change and the changes in the consumers’ attitudes towards these factors can have impact on many industries. Firms have to consider the increasing environmental awareness in the societies. Especially the consumer groups which are called â€Å"LOHAS† which comprises the Lifestyle of Health and Sustainability desire to protect the environment. 2. Assess the impact of international marketing activities on the societies of emerging and less developed countries, not just today but also tomorrow. International marketing is important because the world has become globalised it is becoming increasingly impossible for any country to practice economic isolation. Nigeria in particular, because of the relatively developing economy reform, is reliant upon trade with international companies. This has contributed positively to the economy development of Nigeria. Moreover, Nigerias multi-cultural society also reinforces an appreciation of the opportunities and the subtle complexities of doing business in overseas markets. The opportunities and challenges encountered today by international marketers are greater and more diverse than ever before. New consumers are appearing in emerging markets in Africa and other Asian countries as well as some parts of Latin America. Some of these emerging markets have relatively little purchasing power today but hold the promise of being huge markets in the future. A good example is the availability of cheaper laptops specifically made for developing countries, this will help reposition the developing countries access to global market and also be profitable to the company. International marketing will bring about many opportunities and challenges as consumers tastes become more sophisticated and complex, and as increases in purchasing power provide them with the means of satisfying new demands. In conclusion as the societies of the emerging and the less developed countries have the opportunity to reach the products as the same time with the other developed countries, the markets becom es flattens for all of the players. This will give the emerging and the less developed countries finally the chance to show their real potential and take their deserved place in the world. Don’t waste time! Our writers will create an original "How Important Are PLESTE Factors In Terms Of International Marketing" essay for you Create order

A Research Study On Literature Review - 1131 Words

One of the stages in writing a research paper is the literature review. Since there is very little that has not been studied in some form, good researchers find out all they can about their subjects before they commence their own study. Not only is it imperative to acquire what is already know about the subject, but a literature review enables the researcher to identify what is not known or well understood (Lanier Briggs, 2014). By conducting a literature review, one verifies what else needs to be done. A literature review is an important aspect of any research paper. Additionally, reviews indicate what already exists, what has been learned and what has not been learned. By conducting a review, researchers are able to consider what can be modified on past studies that will develop the research question better. A review can provide ideas for changing some of the conditions or variables of previous studies, which may result in different outcomes. Not only do researchers become more educated about a subject, but can essentially aid in designing their own studies. Good researchers understand there are three primary categories to utilize when conducting a literature review. The first category to review is general sources, which offer hints on the locations of references, a general overview, and introduction to a topic (Salkind, 2012). The second category is secondary sources which are â€Å"once removed† from actual research (Salkind, 2012). Secondary sources can includeShow MoreRelatedResearch Study On A Literature Review Essay1400 Words   |  6 Pages4.2 Research Hypothesis Hypothesis Researchers almost never conduct a study in an intellectual vacuum; their studies are usually under taken within the context of an existing knowledge base. It helps to lay the foundation for the study and also inspire new research idea. 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Music Sonata Form and Classical Period Essay Example For Students

Music: Sonata Form and Classical Period Essay A symphony is an elaborate musical composition for full orchestra, typically in four movements. 2. What is a sonata? How is it related to the sonata form? A sonata is a large-scale composition that is played rather than sung. 3. What is a coda? A coda will use music from the movement, typically doesnt does not add anything to the argument. 4. What are the three different parts of the sonata form? Describe each part. The three parts off sonata are Exposition, Development, and Recapitulation. Exposition is the first part of the sonata, where the composer will bring in or exposeall of the music ideas. Development is the second part of the sonata, it is where the composer builds on the two themes from the exposition. Recapitulation is the third part of the sonata, it is where exposition is repeated. 5. What are the three different periods of Beethovens work? Describe each part. Critical Thinking Questions 1 . What are the characteristics of the music of the Classical period? 2. How does the music of the Classical period differ from the music of the Baroque period? Baroque music tends to be for small chamber orchestras and is usually very intricate, with many layers. Classical music tends to be for larger orchestras and for showing off virtuoso talents or entertainment rather than for praising God or presenting solemn tunes to kings, as much Baroque music was. Music: Sonata Form and Classical Period By Lawrenceville work. Which pieces did you listen to? How would you describe these pieces of music? What makes the music characteristic of the Classical era? 4. What social and cultural influences impacted the music of the Classical period? Do you think todays music is influenced by social and cultural factors? Why or why not? Both art and politics were great composers who knew what they were doing and their composing had amazing hits. 5. What was important about Vienna during the Classical period? Vienna was important during the Classical period because great civilization was developed in the past and actually in classical period.

The Values and Ethics in Business

Question: Imagine yourself in a situation where you are a manager in a government establishment. A bid has been submitted to your office for supply of new computers and your best friends company (Radax) is one of the bidders. Your friend has spoken to you about the bid and you have realized that Radax does not really have the best bid. Describe the ethical concerns that have arisen from this scenario. Do you think your choice would be most affected by your individual moral development or by the cultural values of the organisation for which you work? Explain. Answer: Introduction The values and ethics in business are the various types of guidelines and set of qualities that are likewise in charge of representing the activities or the practices of people who work for the business association, along these lines encouraging the method for accomplishing the objectives and goals of the association effortlessly and within a short period of time. This topic will include the significance of business ethics, the various ways by which ethics are managed within workplace along with the ethical dilemmas too. The methods or techniques by which the ethical issues could be resolved will also be included in this report and also the choice which has been made by the manager finally considering the bid that has been made by another company (Agle et al, 2008). Business ethics The ethics in business are referred to as the different kinds of applied ethics or ethical and professional practices that are applied in order to identify the ethical principles as well as ethical issues or problems which might have arisen within the business environment. The business ethics are applied to a number of aspects for the conducting of business and are also relevant to the conduct of the whole organization or how the individuals are managed within the organization. The ethics in business are the different kinds of standards and set of values that are also responsible for governing the actions or the behaviors of individuals who work for the business organization, thus facilitating the way of achieving the goals and objectives of the organization with ease and effectiveness (Christensen et al, 2007). The business ethics consist of both descriptive as well as normative dimensions, but as because there is involvement of corporate practices, so it has been mainly normative d imension in this case. The various kinds of ethical issues and the number of those issues are concerned with the interaction of maximizing the profit concerned with the non-economic conditions. Nowadays, most of the business organizations are focused on promoting the commitment to the values of non-economic conditions like the social responsibility charters and ethical codes (Crane Matten, 2007). According to the case study, a bid has been made by my friends company named Radax, where I need to provide new computers. But after speaking with my friend, I came to know that the company does not have the best bid till date. So, I decided to make a choice on my own based on the cultural values of my company and development of morale. The application of ethics helps in regulating the different kinds of areas and situations as well as the behaviorist details that are out of the control of Government. With the rise of multinational business organizations which have very limited relationshi p and sensitivity with the communities where those operate, the ethical standards are needed to be maintained for making the organization function in an effective manner within the business environment (De George, 2011). Managing ethics within workplace I have been working as a manager of a Government organization and I have been provided with a bit where I need to provide a supply of new computers to another company named Radax which has been owned by my friend. After interacting with my friend, who own the company Radax, I came to know that Radax do not have the best bid. There have been a large number of ethical concerns which have emerged in this kind of situation. The ethics have helped me to understand what is right and what is wrong considering the case where I need to supply our products and services to another company which has been the bidder. This is based on the different kinds if impact of products and services and also the relationship with the stakeholders. Business ethics are essential during different times of fundamental changes both in case of profit as well as loss (Ferrell Fraedrich, 2016). I have paid a lot of attention to the ethics in business within the workplace which has helped me to act according to the situations irrespective of the kind of bid which has been made by the owner of another company in United Kingdom. Focusing on the business ethics also has helped me to struggle and overcome crisis and complex situations with ease and also regains a strong moral development. Reacting to the business ethics means doing what is right for business and also copes with the stress and crisis situations in business. A corporate program of ethics consists of different kinds of values, policies and activities that are responsible for making an impact on the proprietary of the behaviour and attitude of an organization (Giacalone Thompson, 2006). Ethical dilemmas considering the case The ethical dilemmas could be stated as different kinds of complex situations which could result due to the mental conflict between the moral imperatives in business. Here the ethical dilemmas arise when I became confused of whether to supply the computers to the company Radax or not. This is because firstly, it is the company which is owned by the company and secondly, it does not have the best bid, as founded by me after interacting with my friend and speaking about the bud. The ethical dilemmas have also occurred due to the disapproval of the ethical systems and moral codes (Hoffman et al, 2014). This is a serious problem, as I, as a manager of a Government establishment has to choose between a moral and immoral act. This is an opportunity for me to deal with this kind of pressure situation and also help my company to success within the business environment in an efficient way. Based on the cultural values of the company, I also must make sure that my company might not face loss d ue to the bid which has been made. This could result in harming the ethical standards as well as cultural values of the company, which further might deteriorate the condition and functioning if the business organization as well (Ritter, 2006). Ethical Theories Ethics and business decisions making go hand in hand and leaders are expected to undertake ethically significant decisions regularly. Ethical theories have been classified broadly into four broad categories: Deontology, Utilitarianism, rights and virtues. Deontological theories illustrate that individual should stick to their duties and responsibilities while engaged in the process of decision making. Crux of this theory is on upholding ones duty while discharging obligations in an ethically right manner. However one drawback is that individual ethics can vary from person to person and as such there is lack of uniformity (Hoffman et al, 2014). Focus of Utilitarian ethical theories is on making choices that benefit majority of the people. Utilitarian theories are further classified into act utilitarianism and rule utilitarianism. Focus of act utilitarianism is on undertaking acts that benefits majority of the people irrespective of personal consideration or societal norms. On the other hand rule utilitarianism focuses on existent laws and deems the fairness of a decision. The rights theory focuses on endorsement by a majority of people in a society and therefore the societys goals and priorities have to be decided first. As such, rights theories can be successful when they are applied in conjunction to other ethical theories (Rossouw Van Vuuren, 2013). As the name suggests, virtue theory within ethics evaluate a person by his/her character rather than by action. Evaluation of character is done by analysing moral, character and impulse. Virtue theory fails to account for any change that may happen to a person. Different theories have different approaches on deciding the ethics and the decision making process vary from person to person. It can be stated that ethical theories seek to uphold the four tenets of beneficence, least harm, respect for autonomy and justice. Process of decision making revolves around numerous stakeholders and as such the decision making process tends to get complicated at times. Ethics provide guidance and insight as to the right course that will lead to benefit of the involved parties (Agle et al, 2008). Ethical theories seek to provide guidance to decision makers while undertaking verdict or judgment. Experiences also form a significant part in deciding what is right or what is wrong and such experience can be useful in comparing consequences arising as a result of undertaking a decision. The decision making process vary from person to person and involves different parameters for different person. Organisational aims and goals are also need to be kept in mind whil e implementing a particular decision. The case study of Radax can be analysed so as to better understand ethical concerns while undertaking or implementing a decision (Trevino Nelson, 2010). The manager of the government establishment that has received the bid has to separate his personal interests from that of the organisation. The best has to be chosen irrespective of the personal rapport of the manager with Radax. The manager has to prioritise the needs o the organisation where he works and has to choose the best bid. The decision making process has to adhere to the tents of act utilitarianism so as to benefit greater number of people without considering personal interest. Resolving ethical dilemmas I also must make sure that my friend does not develop any kinds of negative thoughts on me, which might create distance between our friendships. But my first priority would be my company, where I work for. So, it is my duty to resolve all the ethical dilemmas and preserve the cultural values so as to make sure that my organization can gain profit and also survive in the competitive business environment. There could be pressure while gaining the best deals from another business organization, which could also make the workers negotiate in bad faith. The ethical dilemmas could often be difficult to resolve based on the guidelines, rules and regulations of the company (Rossouw Van Vuuren, 2013). The management of the company must also be responsible for considering the ethics seriously and prevent kinds of unethical practices of misconducts. As a manager, I personally think that the ethical dilemmas faced by the managers are the most difficult and complex to resolve. As seen from the ca se study, this is a problem in personal friendship, which has been the ethical dilemma is this case. Based on the cultural values of the organization, I also must not make any misconduct which could harm the organisational functioning and condition, so I have personally preferred to cancel the bid which has been made by the company Radax. The culture comprises of the different kinds of ethical values, norms and behaviours of the organization (Rossouw, 2005). A number of guidelines, rules and regulations are imposed which are needed to be maintained by the manager in order to fulfil the criteria as well as maintain the ethical standards and healthy culture within the organization. So, in order to resolve the conflicts and ethical dilemmas, the ethics in business are needed to be maintained which is the most appropriate choice in this case. The codes of ethics have also specified the various rules and regulations that are needed to be maintained for managing the business operations an d processes by the manager (Trevino Nelson, 2010). These codes have certain values and are essential for managing ethics within the workplace. Therefore, after looking into this matter considering the bid which has been made, I have made a final choice that I would not approve the bid, as it might be inappropriate for the company, both in terms of profit as well as cultural values. My choice has been mostly affected by the development of morale and cultural values of my organization in which I play the role of an efficient manager for a long time (Weiss, 2014). Conclusion The Government has introduced several types of guidelines, rules and regulations in order to determine the business behaviour and understand the ways by which they could perceive in order to provide effective directions for the success of business. The current report further expands its explanation by covering the various aspects of business ethics as well as the different kinds of ethical issues and dilemmas which might result considering the case. The various ways or approaches by which the manager of the company managed to resolve the ethical dilemmas and make a choice regarding the bid have also been discussed here (Agle et al, 2008). So, all these aspects have been included in this report for gaining an appropriate and valid conclusion for this topic. References Agle, B. R., Donaldson, T., Freeman, R. E., Jensen, M. C., Mitchell, R. K., Wood, D. J. (2008). Dialogue: Toward superior stakeholder theory.Business Ethics Quarterly,18(02), 153-190. Christensen, L. J., Peirce, E., Hartman, L. P., Hoffman, W. M., Carrier, J. (2007). Ethics, CSR, and sustainability education in the Financial Times top 50 global business schools: Baseline data and future research directions.Journal of Business Ethics,73(4), 347-368. Crane, A., Matten, D. (2007).Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press, USA. De George, R. T. (2011).Business ethics. Pearson Education India. Ferrell, O. C., Fraedrich, J. (2016).Business ethics: Ethical decision making cases. Nelson Education. Giacalone, R. A., Thompson, K. R. (2006). Business ethics and social responsibility education: Shifting the worldview.Academy of Management Learning Education,5(3), 266-277. Hoffman, W. M., Frederick, R. E., Schwartz, M. S. (Eds.). (2014).Business ethics: Readings and cases in corporate morality. John Wiley Sons. Ritter, B. A. (2006). Can business ethics be trained? A study of the ethical decision-making process in business students.Journal of Business Ethics,68(2), 153-164. Rossouw, D., Van Vuuren, L. (2013).Business ethics. Oxford University Press. Rossouw, G. J. (2005). Business ethics and corporate governance in Africa.Business Society,44(1), 94-106. Trevino, L. K., Nelson, K. A. (2010).Managing business ethics. John Wiley Sons. Weiss, J. W. (2014).Business ethics: A stakeholder and issues management approach. Berrett-Koehler Publishers.