International Business Management - 3445 Words

International business management refers to the effective management of business transactions that are to be performed across various countries. This is done to satisfy the objectives of people and organizations. Thus a firm should be aware of various issues while entering foreign markets. There are key political, cultural, social, legal and environmental issues that every organization must fully cover to ensure the smooth running of its business in foreign shores. Failure to do so may lead to may obstacles. It is always effective to take a proactive measure while conducting business in foreign markets. Ben Jerrys Homemade, Inc., the Vermont-based manufacturer of ice cream, frozen yogurt and sorbet based in Vermont. It was founded in†¦show more content†¦BUSINESS ENVIRONMENT: It is important to understand the business environment in Russia between 1992 and 1997 during which period Ben Jerrys was part of a joint venture called Iceverk in Russia at this period. Since 1991, Russia has struggled in its efforts to build a democratic political system and market economy to replace the strict social, political, and economic controls of the communist period. • Political Instability: With the collapse of the Soviet Union political uncertainty for potential foreign investors in the newly democratic Russia. The country had to be rebuilt, and it was questionable what laws would be enacted and what laws would be discarded. Thats why, all foreign business operating in Russia were doing so under risk. • Management Problems: As a result of former communist work ideology, skilled managers were in short supply for the Karelia facilities. Managers, as well as subordinates, needed to be trained both in work habits and in Western capitalist philosophy. Consequently, managers had to be flown in from the United States until the Russians could learn the intricacies of free market as well as the production of high-quality ice cream. • Corruption and Mafia: With the fall of the USSR, the Russian Mafia has gained enormous power. The underworld is thought to control some 40 percent of the Russian economy. US businesses pay as much as 30 percent of their monthly profit for Mafia protection. This was aShow MoreRelatedChallenges of International Business Management1037 Words   |  5 PagesCHALLENGES OF INTERNATIONAL BUSINESS MANAGEMENT What are the challenges of International Business Management? International business management is a term that is used collectively to describe all commercial transactions which include; †¢ Private †¢ Governmental †¢ Sales †¢ Investments †¢ Transportation The above take place between two or more nations. It involves all business activities which partake in cross border activities of goods, services and resources between nations. PrivateRead MoreInternational Business Environment And Marketing Management1853 Words   |  8 PagesI chose international business environment as my topic of interest The reason why I chose this topic because I would like to become an international business manager in the future, so as a result of that I have to know a lot about the international business environment and that will help to develop my career in international of business management and yes international business environment is related to my area of study or professional field of study, as a student of business administration andRead MoreManagement in International Business1120 Words   |  5 Pagesworldwide employments presently consist of 4,263 stores and 660,000 employees in fifteen nations externally the United States. There are completely controlled stores in Argentina, Brazil, Canada, and the UK. 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