Expanding Business Into foreign Market Essay done using imaginary business
Expanding a business into a foreign market is very difficult. Quite a few things must be taken into consideration before just jumping into foreign direct investment. ... However, I did the research and decided what the most important aspects of a foreign country’s economy and political system would be most important in making a decision. ... These companies have not done their homework, which will greatly benefit Lotsa Money National Bank. ... All of these factors would greatly benefit our bank as we have learned how important communication and mobility are in this high paced business. ... In 1993, Czechoslovakia separated into the Czech Republic and Slovakia. ... There are certain political risks associated with doing business here. ... The Czech Republic hosts over 55,000 foreign backed firms across all sectors. They currently have over 1200 foreign companies of all sizes with such large names as Continental Airlines, Phillip Morris, Procter and Gamble, Renault, and Siemens. ... Another benefit of Lotsa Money National Bank doing business in the Czech Republic is that in recent years the government has liberated business. The state government has sold their shares of business in just about all sectors except the power industry and some communications. ... The government also encourages competitive business, and offer investment incentives for doing business. ... With a minimum age of 18, qualification for legal acts, personal integrity, and documentation of business proposals, the permit is often quickly granted. ... With this, the states share of industry has fallen to 10% with foreign investors now controlling 95% of Czech banking assets. Another attribute that will pose tremendous potential for profit and market share maximization will be the emergence of online banking in the country. ... There have been a number of banks that have already done what we hope to accomplish and have paved the way for easier transition.