Third, it allows for the creation of a team from a group of individuals. A sense of camaraderie can be established during this free time. By the beginning of the week the team was eager and ready to start work on the study. Using the contact list and each individuals daily schedule the team was sent about to gather information. From each contact on the prepared list each member was expected to gain at least two additional contacts. While meeting with contacts the team was asked to differentiate between opinion and fact. This is because misinformation gathered by inexperienced people is very abundant. Fortunately for Walbecker the team he had assembled was able to distinguish between relevant and irrelevant material.
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Walbecker made maps available to the essay team of the location, and showed documentary films discussing the political and economical paragraphs situation of the country as well. Shots and medical supplies were also made available and taken with the team. Language was also a concern to the accuracy of the study. Based on this fact personnel were required to attend classes on the language even if they had some prior knowledge. After sufficiently preparing the personnel for the trip,. Walbecker departed with the team for Athens. For the first four days the team was allowed to orient themselves to their surroundings. There are several reasons why the team was given this time to relax. First, they had to recover from the long flight. Physical and mental stamina were at a low-point when the team left the plane. Secondly, the change in surroundings has an effect on the emotions of a person.
For each American there was a greek counterpart that translated and disclosed all information known to titan. After four years from the start of the study yankee expected that personnel within the subsidiary would be able to handle any further developments. Preparing for the in country phase of the study is perhaps more important than the actual time spent in the country conducting research. Before pelleas departing for Athens with his team,. Walbecker prepared an outline for each days activities for the entire study period. He also had the individuals make a contact list, which contained a bank, an accounting firm, a lawyer, an equipment supplier, the embassy, the ministry, as well as industry source phone and cable numbers. Another important point that was covered was that.
The international division manager vegetarianism of Yankee, bob Walbecker, dealt with the manourpoulos family, who were the owners of Titan. After establishing the connection with Titan,. Walbecker continued to establish good rapport between his division and Titan. Ten days after preliminary negotiations between the two parties. Walbecker was assembling a feasibility team in Denver, which was Yankees domestic headquarters. The team consisted of a market analyst, an accountant, a geologist, a civil engineer, and. Walbecker, who managed the study.
When these four steps are taken while conducting a study the measure of feasibility will become more accurate. Understanding the importance of proper analyzation of ventures can be seen with the following example of the patras Cement Company,.9 Yankee cement Company Inc. Of Denver Colorado needed to approve an expansion of its subsidiary, yankee international sa of Switzerland. The expansion was to build a 500,000- ton cement plant in conjunction with Titan Cement. The plant would reach full production capacity within two years after the beginning of construction. Estimates by both Titan and Yankee showed that total capital needed for the patras operation was US15 million. The equipment manufacturer,. Smidth of Copenhagen would finance 40 percent of capital expenditures, and another 20 percent would be financed through the national Investment Bank for Industrial development,. The remaining 60 percent of Patras shares would be equity, of which 75 percent of shares would be owned by yankee, and 25 percent of Patras shares would be owned by titan.
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Communication in international affairs plays a great role for the fact that different languages spoken and unspoken are involved. The communication through a translator let alone person-to person communication can be vastly misconstrued.5 The individuals communication skills should be top-notch in order to be selected for the team. The members of the team should also be aware of the cultural factors that play a role in communication. Cultural interpretation and adaptation are a prerequisite to the comparative understanding of national and international management practices.6 For example, during contract negotiations with a japanese company there are times of long pronounced silence on the part of the japanese. They state that the negotiations, (will take a little longer and (this is quite difficult.( From the American perspective one would become frustrated at the slow pace of the negotiations.
From the japanese point of view the negotiations are proceeding quite well. Differences such as the one illustrated must be kept in mind at all times while communicating to any foreign counterpart.7 The placement of the team is dependent upon the profession of the individual. The accountants obviously speak and gather their information from the counterparts accounting offices, and. Concerning placement, their daily schedule should allow time for team meetings. During the meetings, progress and the experiences of each member should be shared. This sharing of information can bring the team closer together and also allow the supervisor to measure progress and disseminate any changes in plans.8 As the importance of correct understanding of the translator and the foreign counterpart slavery are during communication, the final communication of the.
If the resources are not available for an employee conducted study then outside consultants may be used, it may also be beneficial to use a combination of the two. The first step in conducting a study is to design it by using project objectives as the base. During the second step the team must be staffed with people that have the ability to solve problems in any situation. In the third step the team should be properly placed and instructed. In the fourth and final step the product of the feasibility study should be properly communicated to the decision-making management.3 Table 2-located at the end of the paper-shows a general timeline that a company follows through the progression of a feasibility study.
The design of a feasibility study first assumes that a company possesses the skills and resources necessary to be competitive in the market under analysis. Management must know the limits of its operations abroad. The operating margin for the expense of establishing and starting operations abroad should be easily recoverable within a reasonable time period. The design should also include the managements goals, which comes down from the investors of the company. The goals of management should be to acquire specific knowledge of the partner, in a joint venture situation, as well as the financial aspects, and the business- environment. The currency of the host country along with the political situation, and the economy are finer points of detail that the study must cover when analyzing the business-environment.4 In a less formal sense the design of the study should cover relevant material so that when. Staffing a feasibility study is of major importance. Not only must the members be competent in communication and understanding, but the management selecting the team must be confident in the abilities of each individual.
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Table 1-located at the end of the paper-shows the statistics that are needed for a general market picture. After gathering the information from the secondary research, the picture of a potential market becomes more evident. However, to make the picture clearer, one must conduct primary research. This research outlines the specifics of the potential market that directly pertain to the product. Robert douglas book, penetrating the International Market, addresses the issue of locating potential markets in greater detail.2 mg1After finding a lead that contains profitable markets it is writing necessary to analyze the venture as a whole. The decisions of companies must be based on the facts of reliable sources on all investments. To gather the information needed for investment projects, management must organize a competent feasibility team. The members of this team should be comprised of employees of the company, this is so that the knowledge will stay within the company.
products. The first step is to use secondary research to find out what the sales potential is in a given market. Asking the questions of need, demand, and support gives one a starting point for research. If we were a company that sold pants we might want to ask the following questions. Is there a need for pants? Is it cold enough there to wear pants? Do people that demand the pants have money? These are the questions that one should ask of potential markets.
The success of the multinational corporation lies on the shoulders of its management. International management and organization-design expert Henry. Mintzenberg says every ceo has three essential duties: direct supervision, development of the organizations kites strategy, and management of the organizations boundary conditions. Top managements responsibility at and beyond the organizations boundaries is largely a communication responsibility; however, no commonly accepted model exists for decision, execution, and assessment of communication opportunities. Within even some of the largest and most venerable organizations, the process used is haphazard and inconsistent. Companys survey of communications professionals showed that just.1 percent agreed that their organizations communication objectives are linked to business objectives, and.3 percent reported that their organizations conduct no formal review of return on communications investment. Ceos must establish and reinforce an organizations image in public by viewing each target public as a client; by doing research, looking at trends, and talking to experts, a ceo focuses on selling what the client wants to buy.1. Finding a country to conduct business in can be a very easy task depending on if the organizations top management follows the advice. The way a company normally discovers where to conduct research is through leads on potential operations from outside sources.
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International Business Ventures Essay, research Paper. International Business Ventures, measuring a potential business venture has many aspects which the international manager must be aware of in order to convey the correct information back to the decision makers. Being ignorant to any of the aspects can lead taxi to a false representation of the project, and hence an uninformed decision being passed. In order for a business to survive it must grow. For growth to be optimal, management must first be able to identify the most attractive prospective leads. The country as a whole, specifically geography, government, and financial aspects must be looked at in order to yield the best possible picture of the market a company wishes to enter. Concentration should be placed on gathering reliable facts that are backed up by more than one source. It is to be hoped that after creating a picture of the market, managements analysis of the potential business venture and plan of action will be structured as to avoid losses and to find the most profitable scenarios.