International business has increased in the recent past owing to the increasing globalization and economic integration among nations. This has led to an increase in competition in the global market due to increased entries of companies to the global economy. This trend is expected to continue in the future as more companies are today planning to engage in international business. With increasing competition and globalization, companies have turned to technology as a means of creating sustainable competitive advantage. For my research study, I have selected the nation of China. China is one of the fastest growing economies in technology ranking third after the United States and Japan. This country is also the 2nd largest economy based on the purchasing power parity after the United States (Property Frontiers, 2008).
Technology advancement is promising to change the face of international business today and this is the major reason as to why I have chosen China to be the nation of my study. Being among the top five countries in terms of technological advancement, this is a competitive strength for this country, an issue that is expected to change the face of international business in the near future. Businesses are today turning to technology as a means of improving their competitive strength especially in international markets. As such, China is a major target by business and this will have an impact on international business (Tian, 2007).
The other reason why I have chosen China for the research on international business is due to the nature of its demographic. This country has a population of over 1.3 billion people hence has a large market potential (Tian, 2007). In the past, China has been having strict regulation on foreign investment but with increasing globalization, this is bound to change. China has already begun opening up its borders to investors and this has had a significant impact on international business around the world (Kelley, Kelley Shenkar, 1993). The communism rule that has been in place is slowly loosening up paving way for international business. Also, unlike in the past where much emphasis was being placed on self sufficiency, the government of China today is expressing some interests in relying less in self sufficiency and more on market forces of demand and supply. This will create a good environment for international business or trade to thrive in this country. With such changes, various companies from the United States and other countries as well will have a chance to introduce and market their products in the Chinese markets, termed by most economists as being very crucial for business growth (Tian, 2007).
In addition to learning about international business in China, I also expect to learn a number of things. To begin with, I expect to learn about the unique business culture of Chinese business environment (Williams, n. d). China and the United States have very different business cultures that impact on how business are conducted in these two countries. The second thing I expect to learn is how the business environment of China affects or influences doing business in this country. Through the research, I expect to come across the different business etiquettes and beliefs of China and how they may affect business profitability and growth in this country. By the time I complete the research, I also expect to learn about how China relates with other countries, especially the western countries such as the United States while conducting business.
Technology advancement is promising to change the face of international business today and this is the major reason as to why I have chosen China to be the nation of my study. Being among the top five countries in terms of technological advancement, this is a competitive strength for this country, an issue that is expected to change the face of international business in the near future. Businesses are today turning to technology as a means of improving their competitive strength especially in international markets. As such, China is a major target by business and this will have an impact on international business (Tian, 2007).
The other reason why I have chosen China for the research on international business is due to the nature of its demographic. This country has a population of over 1.3 billion people hence has a large market potential (Tian, 2007). In the past, China has been having strict regulation on foreign investment but with increasing globalization, this is bound to change. China has already begun opening up its borders to investors and this has had a significant impact on international business around the world (Kelley, Kelley Shenkar, 1993). The communism rule that has been in place is slowly loosening up paving way for international business. Also, unlike in the past where much emphasis was being placed on self sufficiency, the government of China today is expressing some interests in relying less in self sufficiency and more on market forces of demand and supply. This will create a good environment for international business or trade to thrive in this country. With such changes, various companies from the United States and other countries as well will have a chance to introduce and market their products in the Chinese markets, termed by most economists as being very crucial for business growth (Tian, 2007).
In addition to learning about international business in China, I also expect to learn a number of things. To begin with, I expect to learn about the unique business culture of Chinese business environment (Williams, n. d). China and the United States have very different business cultures that impact on how business are conducted in these two countries. The second thing I expect to learn is how the business environment of China affects or influences doing business in this country. Through the research, I expect to come across the different business etiquettes and beliefs of China and how they may affect business profitability and growth in this country. By the time I complete the research, I also expect to learn about how China relates with other countries, especially the western countries such as the United States while conducting business.
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