Page 119 - Business Principles and Management

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MY BUSINESS , INC.

GOING INTERNATIONAL
New small businesses seldom consider the impact of international busi-
ness on their operations, yet almost all businesses today operate in an
international business environment. Many suppliers of products and
services purchased by small businesses are international or are owned
by businesses located in other countries. A foreign market becomes less
foreign as you learn more about it. As a business owner, you need to
study those markets in order to understand potential foreign business
opportunities. A small business that carefully researches a foreign market
can be just as successful in international markets as a large business.

DATA COLLECTION
1. Fresh fruits are often imported from other countries. Using the Inter-
net or the library, locate information that identifies the major inter-
national suppliers of fruits to the United States. Prepare one or more
pie charts that illustrate your findings.
2. Using the Internet or the library, collect information on recent
trade agreements and legislation that deal with international busi-
ness. Summarize what experts are predicting will be the effect of
the agreements and laws on U.S. businesses.
3. If you have access to people who have lived in other countries, dis-
cuss the types of health and wellness businesses, including juice bars,
they are familiar with in the country in which they lived. Identify
similarities to and differences from the ways businesses operate in
the United States.

ANALYSIS
1. Identify three ways that international trade by U.S. businesses can
have a positive effect on small businesses and three ways it can have
a negative effect on those businesses.
2. Identify several food products popular in other countries and cul-
tures that you would consider adding to your product line in the
juice bar. Remember that the products should fit the image of health
and fitness.
3. Assume that you have operated your business for 15 years, and it
has been very successful in the United States. You now have fran-
chises in 30 states. You want to test the international market to see
if the business will work in other countries. Identify at least two
countries in which you would consider introducing your business
and justify your choices. Base your justification on information you
have collected from the Internet or the library about the countries
you chose.

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