An introduction to internationalizing Essay Example | Topics and Well Written Essays - 500 words

An introduction to internationalizing - Essay ExampleHaving successfully established itself in the UAE, the firm must consider a target marketplace whose requisites and preferences harmonise those of members of the UAE. In the event that the suited market has a number of diverse groups with different preferences, the firm will need to customize its product to suit these tastes. Moreover, we need to diversify our business portfolio by engaging in business activities that go beyond the companys current portfolio, for instance, manufacturing of less refined pottery to suit the low income earners in the target market. This will result in the development of higher market pools, therefore, enhancing the firms profit margins.The firm should seek areas with a high population of its target market. The global market consists of various environments such as urban and rural environments. These environments each have a distinct bureaucratic process and labor law it is paramount to avoid mark ets that have excessive bureaucracy and inflexible and outdated labor laws. Dubai for instance, would be a good market option as it is strategically close to Abu Dhabi, our head office. This market is well served by modern infrastructure hence transportation of both raw materials and terminate products will be easy. Moreover, the market has high market opportunities internally and internationally as it is served by over 170 airlines and 86 shipping lines (Rehman, A.2007, p.57). This will convey to the firms expansion into the international market through exportation opportunities. Moreover, this nation has suitable labor laws and bureaucratic process it neither has corporate and income taxes nor hostile exchange controls. In addition to this, Dubai is one of the most economically developed nations, and its population mostly consists of people leading a Cosmopolitan lifestyle, which is our most suitable target market one that appreciates fine art. The nation is also known to hold top