International Business

Firstly, I think understand the market’s rules of doing business in a foreign country. We have to know the foreign policy and the market environment. Tariffs, trade barriers and expenses is the most significant for a company to export. We can also visit the market and prospective distributors. We should have the advantage of learning first hand potentials of the market through appointments with prospective customers. Identify the product and target market and gather data to plan for the export. Market research will help you to identify the right target market, competitors in the market, customers, distribution channels and the best way to promote the cloth or make some new styles to satisfy the local customers. Planning is essential to any organization. Before embarking on an all-out marketing plot, it is vital for companies to draw up an export business plan as the document can support a loan application, outlines in detail the direction of the business, describes the strengths of the company – and more importantly – helps to set a value to business. We all know that the foreign investment and payment method may different with the original one. So having a good understanding of the various methods of payment settlement is essential to ensure that you select the most appropriate terms of payment for your business transactions and that you receive payment for it. The company also need to have a good understanding in exchange rate volatility as fluctuations can affect profitability and pricing. I believe the learning of international business is useful in a business future developing path, despite its size big or small. Small business can also develop as a large international business in the future. We all know that one product may be suitable in one place, but it may not suitable in another place. We don’t need to consider whether its products need to export to other countries like those international businesses. If its products just want to sell in another