Write 400-600 words that respond to the following questions with your thoughts, ideas, and comments.
Part I
You are a business owner firm that manufactures a specialized product in the United States. While developing a 5-year strategic growth plan, you have decided to investigate the benefits and disadvantages of expanding internationally. Research the issue, and discuss the following:
- How would entering into the global arena affect your business, your region, and the country as a whole?
- What are the risks, advantages, and disadvantages to your business and the welfare of the country? Do you think it is worth it?
Part II
If you were the owner of an automobile company and decided to market internationally, what kind of competition would your business face?
- Would you face imperfect, monopolistic, oligopolistic, or perfect competition?
- What sort of circumstances would you have to be aware of, and why?
- What if you were a major retailer in the United States?
- Do you think you know enough at this point to make a major decision like this? Why or why not?