International Business Essay

International business may be defined simply as business transactions that take place across national borders the very small firm that exports (or imports) a small quantity to only one country, as well as the very large global firm with integrated operations and strategic alliances around the world. Within this broad array, distinctions are often made among different types of international firms, and these distinctions are helpful in understanding a firm’s strategy, organization, and functional decisions .

Other than that, one distinction that can be helpful is the distinction between multi-domestic operations, with independent subsidiaries which act essentially as domestic firms, and global operations, with integrated subsidiaries which are closely related and interconnected International business consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations. These transactions take on various forms, which are often interrelated.

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Primary types of international business are export–import trade and direct foreign investment. The latter is carried out in varied forms, including wholly owned subsidiaries and joint ventures. Additional types of international business are licensing, franchising and management contract. (http://www. referenceforbusiness. com/management/Gr-Int/International-Business. html#b#ixzz2M6YZA7M0/27-2-13) The use of this term recognizes that doing business internationally is an activity, not merely a passive observation. Closely linked to activity is the term satisfaction.

It is crucial that the participants in international business are satisfied Moreover,if they feel they are better off after the transaction than they were before, will individual business transactions develop into a business relationship. The fact that the transactions are across national borders highlights a key difference between domestic and international business. The international executive is subject to a new set of macro environmental factors, to different constraints, and to quite frequent conflicts resulting from different laws, cultures, and societies. The basic principles of business are still relevant, but their application, omplexity and intensity vary substantially (Michael. R. //my. safaribooksonline. com/book/-/9780470530658/chapter-1-the-international-business-imperative/navpoint-19//InternationalBusiness8thedition) 2. 0 Global Product of Ralph Lauren Three-Button Charcoal Suit Crafted from extra-fine wool, this Italian-made suit features a lean silhouette, a slightly shortened rise and narrowed lapels. The jacket has notched lapels, sloped shoulders, a double-vented back, an angled welt pocket at the chest, flapped welt pockets at the hip and interior welt and buttoned welt pockets.

Trouser has double forward pleats, a standard-rise belted waist with interior suspender buttons, side on-seam pockets, button-and-loop and buttoned welt back pockets and unfinished hems for custom-tailoring. Jacket fully lined and pant partially lined with Bemberg nylon. 100% wool. Dry clean. Made in Italy. Alterations available in Ralph Lauren retail stores. 2. 1 Country Of Origin On June 11, 1997, Ralph Lauren Corporation became a public company, traded on the New York Stock Exchange under the symbol RL.

By 2007 Ralph Lauren had over 35 boutiques in the United State. The Politics of New York State tend to be more liberal than in most of the United States, with in recent decades a solid majority of democratic voters, concentrate in New York City and some of its suburbs, and in the cities of Buffalo, Rochester, Syracuse and Albany. Republican voters, in the minority, are concentrated in more rural Upstate New York, particularly in the Adirondack Mountains, the Alleghany Mountains, Central New York, and in parts of the Hudson Valley.

Despite the imbalance in registration, New York voters have shown a willingness to elect relatively centrist Republicansto local offices, though not in the Presidential election. The economy of New York City is the biggest regional economy in the United States and the second largest city economy in the world after Tokyo. New York City is one of the world’s two premier financial centers, alongside London and is home to the New York Stock Exchange. (http://en. wikipedia. org/wiki/ New_York_City//5-2-13)

The New York Stock Exchange is by far the largest stock exchange in the world by market capitalization of listed companies. The NASDAQ electronic exchange has the most companies listed and is second largest in the world by market capitalization of listed companies. The culture of New York City is reflected by the city’s size and variety. Many American cultural movements first emerged in the city. The Harlem Renaissance established the African-American renaissance in the United States. American modern dance developed in New York in the early 20th century.

The city was the top venue for jazz in the 1940s, expressionism in the 1950s, and the home of hip hop, punk rock, and the Beat Generation. New York’s population density has environmental benefits and dangers. It facilitates the highest mass transit use in the United States, but also concentrates pollution. Gasoline consumption in the city is at the rate the national average was in the 1920s. (http://en. wikipedia. org/wiki/Environmental_issues_in_New_York_City//5-2-13) 3. 0 Entry Modes Ralph Lauren involved in None Equity and Equity Entry Modes.

The Non equity Entry Modes is licensing and the Equity mode is Joint venture. Ralph Lauren’s Licensor is engaged in the business of manufacturing, selling and promoting, and licensing others the right to manufacture, sell and promote, high quality apparel and related merchandise under certain Polo/Ralph Lauren trademarks and trade names. Moreover, in the fashion industry, designers such as Ralph Lauren and Calvin Klein license the right to use their names on items of clothing in exchange for royalties.

Ralph Lauren commonly paid both a fee for the author and their services and a royalty rate that entitles them to a percentage of their books’ profits in book publishing ,and in the music industry, Ralph Lauren royalties are paid to music copyright holders and to songwriters by radio stations and anyone else who derives a commercial benefit from the copyrighted material. (http://www. newventurelab. com/resources/blog. php? id=166/1-2-13) Ralph Lauren has involved in Joint Venture which is under Equity EntryModes. American group Polo Ralph Lauren have decided to set up a joint venture with The luxury group Richemont,based in Geneva.

The jointly-owned company will design luxury watches and fine jewellery which it is hoped will be launched on the market in the autumn of 2008. The Polo Ralph Lauren Watch and Jewellery Company will develop, produce and distribute its designs through Ralph Lauren stores, but also via specialist luxury retailers. Each partner will own 50% of the joint venture and is committed on a long-term basis. It is the first time that Richemont has formed a joint venture with a fashion designer and the first time that Ralph Lauren has ventured into the world of watches and jewellery. (http://www. fhs. ch/en/news/news. hp? id=535//21-2-13) Moreover, Ralph Lauren also involved in acquisition. Ralph Lauren re-positioning its brand in China into a more premium brand remains one of its highest near-term priorities. As Europe, which is a key market for Ralph Lauren, has started showing signs of a slowdown due to the sovereign debt crisis, demand from emerging markets will be a key driver of growth in the near term. Many retail analysts see the acquisition as a way to capture customers not normally attracted to the clean all-American look of the Ralph Lauren line, without alienating his loyal base of supporter.

Ralph Lauren wanted to take back control of their licences in Asia Pacific to the improve performance and present a consistent offering across regions and distribution platforms. (http://www. researchandmarkets. com/reports/2344826/polo_ralph_lauren_corporation_mergers/10-2-13) 4. 0 Host Countries The two foreign countries which Ralph Lauren Corporation is currently practising are China and germany. In China, Ralph Lauren Corporation as planned on opening 60 stores in the Greater China Region starting first from Beijing. Ralph Lauren has already has a few firm commitments in place for location and shopping mall to schedule to open in 2014.

In addition to a broader expansion effort within China, Ralph Lauren plans to make more aggressive attempts to tap the spending of Chinese tourists. In Europe, where they are among the fastest-growing and most free-spending tourists segments. (www. jingdaily. com/ralph-lauren/3-3-13) In Germany, Ralph Lauren Corporation made a significant strong growth. In Germany the company remains at key priority strategy because most of the products are sold through stores such as, Club Monaco and Rugby Stores which fetch higher margins to the company compare to concession retail store in domestic market.

The increase in retail business was the prime reason the Ralph Lauren was able to past a healthy growth. (www. forbes. com/greatsspeculoations/2011/08/19/ralph-laurens/22-2-13) 4. 1 China 4. 1. 1 Culture Ralph Lauren is smart when it comes to targeting Chinese shoppers both at home and abroad. In China, the brand is typically seen as mid-range brand. According to the local Chinese media due to the less successful brand management over the past few years, Ralph Lauren has missed an opportunity to position itself firmly as a luxury brand among the Chinese consumer.

Language is a main concern in the country so the company must do it’s advertisement and packaging using the country’s mother language. 4. 1. 2 Ethics China is a low temperature country compare to other asian country. This is why the suit Ralph Lauren is producing must be produced by using a thick material. Other than that, according to the population of the country Ralph Lauren Corporation must seek the decision that will produce for the largest number of people. (www. eurbanista. com/ralph-lauren-american-classic/19-2-13) 4. 1. 3 Social responsibility

Due to the amount of population China has, job opportunity in China will be very less. Ralph Lauren Corporation helps the society by reducing the effort of finding job by handing out a lot of job vacancy where people get to apply and walk into an interview. 4. 2 Germany 4. 2. 1 Culture Germany is not short on either up market boutiques nor phenomenal bistros. You need to be seriously impressive to stand out in the most sophisticated city in the world. Thankfully Ralph Lauren’s huge new European store has managed to dazzle even the snootiest of the Germany style press – this week they talk of little else. . 2. 2 Ethics This winter, they’re the only thing to be seen in Ralph Lauren are selling designer versions, they’ve featured in glossy fashion magazines and they’re flying off the shelves in stores like Benetton, Marks & Spencer and Gap. The down jacket is currently experiencing astonishing popularity .

Then hit one of Germany’s discount outlet stores, where we can find great bargains all year round; designer fashion, jewelry, shoes, and household wares are often reduced up to 70%, because they are either from last season or overstock items. (http://www. dailymail. co. k/femail/article-2240096/Feathers-ripped-birds-backs-gaping-wounds-sewn-pain-relief-The-barbaric-cost-winter-coat. html#ixzz2MYptDXaS//03-3-13 ) 4. 2. 2 Social responsibility The Polo Ralph Lauren Foundation supports initiatives in cancer care, education and service inunderserved communites. Such as The Ralph Lauren Center for Cancer Care and Prevention, American Heroes Fund, Habitat for Humanity, Polo Fashion School, Ralph Lauren Volunteers, The Reusable Tote and the Pink Pony Campaign. The Ralph Lauren Foundation supports initiatives in cancer care, education and service in underserved communites.

Such as The Ralph Lauren Center for Cancer Care and Prevention, American Heroes Fund, Habitat for Humanity, Polo Fashion School, Ralph Lauren Volunteers, The Reusable Tote and the Pink Pony Campaign. he Center provides prevention education and health information to the Harlem community and beyond, and conducts research to help advance the understanding of the multiple factors that influence cancer care and health outcomes in medically underserved populations similar to those the Center serves. (www. hess. com/sustainability/socialresponsibility/default. aspx/28-2-13) 5. 0

According to the recomendation ,the country that we recommend or prefer is Germany . This is because we strongly belief under the statement that the company in Germany gets to roped-in with big designer such as from Paris which is known as the city of the fashion. A Paris is a city which has a major influence on international fashion trends and is a key centre for the fashion industry, in which activities including the design, production and retailing of fashion products fashion events such as fashion weeks and awards and fashion-related trade fairs generate significant economic output. ( http://www. ytimes. com/2012/09/13/world/europe/german-court-backs-euro-rescue-fund. html? _r/17-02-13) 6. 0 Conclusion “Internationalization is like creating a round-toed shoe that fits people with all types of feet. It is not as comfortable as a perfectly fitted shoe and doesn’t fit snugly, but can be worn by many people” – David Debry (http://www. goodreads. com/quotes/tag/business/18-02-13) International business can be done globally by anyone . It also something where it involves different region, different people with different culture to gather on doing business by selling or buying products internationally.

Executive summary International business may be defined simply as business transactions that take place across national borders the very small firm that exports (or imports) a small quantity to only one country, as well as the very large global firm with integrated operations and strategic alliances around the world. International business consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations. These transactions take on various forms, which are often interrelated.

Global Product of Ralph Lauren that we have choosed is Three-Button Charcoal Suit where crafted from extra-fine wool, this Italian-made suit features a lean silhouette, a slightly shortened rise and narrowed lapels. Ralph Lauren Corporation became a public company, traded on the New York Stock Exchange under the symbol RL. By 2007 Ralph Lauren had over 35 boutiques in the United State. The Politics of New York State tend to be more liberal than in most of the United States, with in recent decades a solid majority of democratic voters, concentrate in New York City.

Ralph Lauren involved in None Equity and Equity Entry Modes. Ralph Lauren’s Licensor is engaged in the business of manufacturing, selling and promoting, and licensing others the right to manufacture, sell and promote, high quality apparel and related merchandise under certain Polo/Ralph Lauren trademarks and trade names. Ralph Lauren has involved in Joint Venture which is under Equity EntryModes The jointly-owned company will design luxury watches and fine jewellery which it is hoped will be launched on the market in the autumn of 2008.

The Polo Ralph Lauren Watch and Jewellery Company. Two foreign countries which Ralph Lauren Corporation is currently practising are China and germany. In China, Ralph Lauren Corporation as planned on opening 60 stores. Ralph Lauren Corporation made a significant strong growth. Ralph Lauren has missed an opportunity to position itself firmly as a luxury brand among the Chinese consumer. Morever, Ralph Lauren Corporation helps the society by reducing the effort of finding job by handing out a lot of job vacancy where people get to apply and walk into an interview.

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