International Marketing in a Global Economy Research Paper

International Marketing in a Global Economy - Research Paper Example This is because common marketing concerns (such as input or production costs, price, advertising and distribution) are likely to differ from country to country where the business firm targets to market its products or services. There are four ways to develop markets in foreign land according to the Encyclopedia of Business and these are: (1) international trade through exporting products and services from the country of origin; (2) entering into joint venture arrangements with one or more foreign companies; (3) licensing patent rights, trademark rights, etc. to companies abroad; and (4) establishing manufacturing plants in foreign countries. Exporting is the easiest and most frequently used strategy of entering international markets because there is lesser risk of financial losses for the company. International trade comes in when a business entity engage in the buying (importing) and or selling (exporting) of goods or services in the global market arena. In exporting, factors to consider are: market opportunities, foreign exchange risk, import and export financing, and challenges of doing business in a foreign market. Business analysts note that in exporting, firms should focus on at least single market i nitially, start entering foreign market on a small scale (to limit potential loss due to failure), and be realistic about time, commitment and resources needed. Two contrasting viewpoint for developing global marketing strategy are being expounded by many business analysts. First is the localized marketing strategy that considers four differences across countries: buyer behavior characteristics, socioeconomic condition, marketing infrastructure, and competitive environment. Many companies failed to succeed or experience difficulties in the international market because they did not fully understand differences in buyer behavior knowing that

LEED and Lean Fundamentals Term Paper Example | Topics and Well Written Essays - 2000 words

LEED and Lean Fundamentals - Term Paper Example However, generation of waste come from the individual processes that are within the production (Wiedmann & Minx, 2008). Due to this reason focused waste management demands that engineers should know the type and the source of waste. As it stands, this remains unknown with any accuracy. The work's purpose is to offer a solution through the development of a method that would involve the integration of waste from the environment into the Value Stream Mapping (VSM) lean method. Specifically it involves integration of the corporate standards of environment with the VSM process, thus permitting the established lean process to focus at specific improvement actions for environment. This method’s application is demonstrated in a set up that represents manufacturing, representing a variety of impacts in the environment. The deployment can be generalized to any environmental factor. It can represent a customized index of waste for a specific industry. The focus industry came up with the many ways that explored the multidimensional environmental wastes. The staff can use the resulting method in to quantify the wastes that are generated from the individual processes and thus can report cases of the wastes production which would enable the establishment of the waste management process for the whole lean process (Hagood & Grunden, 2012). Through this attempt, then the waste management in the manufacturing industries would be perfected. The idea can later be applied to other types of industries for the betterment of the environment. Leed and Lean Fundamentals Introduction One of the aims of lean is to reduce waste in the production process. In an attempt to achieve this, one of the common management tools that lean has used is VSM (Wiedmann & Minx, 2008). Value Stream mapping analyzes and also represents the time that is taken for completion of the process while laying emphasis time that does not have value addition to the process hence it is a non-value added time proc ess. This method is very important in reducing the time for the whole processing in a certain industry. As such it reduces the expenses that are associated to the addition time. VSM lays focus on time as wasted consumable. On the other hand, the whole process of lean is concerned with several other types of waste. Consequently the organizations that long to implement lean are required to make use of the different lean tools to cover the various dimensions of wastes for their processes. This means introduction of multiple systems each with its own culture, implementation and the reporting processes. According to Stair & Reynolds (2011), the current innovation in the waste management is targeting at developing an integrated lean system that would avoid this type of duplication. Amongst the areas that better integration is desirable, is between the dimension of time as covered by the VSM and the dimension for the environmental waste. Environmental waste is less represented in the curre nt lean design. This is because the current design of lean tends to perceive waste as a cost of the raw materials or probably the decrements associated to the productivity of the whole production system (Bartholomew & Farrauto, 2011). However, the environmental perceives the type of waste as being important due to the different toxicity and the effects of such on the environment. Collection of the data on the waste from the environment and the waste impacts is an easier task. However it is hard to