Assignment front sheet

Learner name Assessor name

Aung Hein Khant Daw April Chaw

Date issued Completion date Submitted on

30th November 2022 23

Qualification Unit number and title

Edexcel BTEC Level 3 HND(Foundation) In Business UNIT 1: INTERNATIONAL BUSINESS

Assignment title UNIT 1: INTERNATIONAL BUSINESS

Criteria To achieve the criteria the evidence must show that

Task no. Evidence
reference the student is able to:

Features and characteristics of International Business and factors

1.1 influencing the globalization 1 Pg. 7-10

The impact of globalization on the national economies of

contrasting countries. 1 Pg. 10-11
1.2

Characteristics and features of organizations and agencies

1.3 involved in international business 1 Pg. 11-12

International trading associations

2.1 2 Pg. 12-15

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 2.2 Barriers to international business 2 Pg. 15-16

3.1 Strategic aims and objectives 3 Pg. 16-18

3.2 STEEPLE and SWOT analysis of Organization 3 Pg.18-20

Learner declaration

I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.

Learner signature: Aung Hein Khant Date: 14th December 2020

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Table of Contents
Executive Summary...................................................................................................................................4
Introduction.................................................................................................................................................5
Organization Profile....................................................................................................................................5
Vision......................................................................................................................................................6
Mission....................................................................................................................................................6
Objectives................................................................................................................................................6
LO-1 Examine the influences on the growth of globalization..................................................................7
(1.1) Features and characteristics of International Business and factors influencing the globalization.7
(1.2) The impact of globalization on the national economies of contrasting countries.........................10
(1.3) Characteristics and features of organizations and agencies involved in international business 11
LO-2 Explore the structure of the global economy................................................................................12
(2.1) International trading associations.............................................................................................12
(2.2) Barriers to international business..............................................................................................15
LO-3 Examine strategic and operational approaches to developing international business.....................16
(3.1) Strategic aims and objectives......................................................................................................16
(3.2) STEEPLE and SWOT analysis of Organization.................................................................................18
Conclusion.................................................................................................................................................19
References.................................................................................................................................................20

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Executive Summary

This assignment includes the current structure, scope, and size of the International Business.
The process of globalization cannot happen without international trade. Many nations and
people have benefited greatly from trade and globalization in general. This assignment involves
investigating the advantages of and problems with doing business internationally. Additionally,
research into the economic and larger external contexts that affect a corporation's decision to
target an international market is conducted, as well as an examination of the strategic and
operational approaches to expanding a business internationally. Moreover, examining the
significance of factors affecting the global economy and the effects of globalization on the
national economies of competing nations.

4
Introduction
Any firm that works over international borders is referred to as an international
business. It contains largely of worldwide trade in supplies and facilities. International business
is the conversation of possessions, services, technology, capital, and/or information on a global
or transnational rule and across countrywide borders. The worldwide production of tangible
goods and services, such as finance, banking, insurance, and construction, involves transactions
of economic resources, such as capital, skills, and people. Globalization is another name for
transnational commerce. Multinational corporations must connect many national marketplaces
to a single global marketplace in order to conduct business abroad. There are two large-scale
forces that support the trend toward more globalization. In order to facilitate cross-border
trade, the first step entails removing obstacles (e.g., free flow of goods and services, and
capital, referred to as "free trade"). The second is the evolution of technology, notably in the
fields of information processing, communication, and transportation (Michael E. Porter, 2018).

Organization Profile

Samsung, one of the world’s major manufacturers of electronic devices since 1961.
Actually, was founded as a grocery transaction store on March 1, 1938 by Lee Byung-Chung.
Samsung first arrived the electronics manufacturing industry in 1969 with several electronics-
focused divisions. In 1985, the Data Systems (now Samsung SDS) was established to assist

5
businesses’ rising need for structures growth. That helped the company speedily become a
front-runner in information technology services fields. Focusses in the production of a wide
diversity of customer and industry electronic with applications, digital media devices,
recollection chips, structures and has grown one of the most-recognizable terms in technology
and produces about two fifth of Asia entire exportations. Our official website is
http://www.samsung,com and can contact to samsunglobal@gmail.com for more help.

Vision
To motivate the world by our pioneering project, products and technologies that enrich
people’s lives, life’s and subsidize to social affluence by making an innovative future.

Mission
To allow businesses and publics throughout the world to appreciate their complete potential.

Objectives
 Throughout the same time period to increase the sales by 30% over last year and also
increasing advertising budget.

 To gain a total of 70% users from society on various fields by the end of 2022.
 To drive interest over 10% by just spending 2% more advertising budget than previous year.

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LO-1 Examine the influences on the growth of globalization

(1.1) Features and characteristics of International Business and factors influencing

the globalization

Business conducted beyond the borders of two or more countries is referred to as international
business. When the Egyptians transported cargo to Assyria across the Red Sea, they were
carrying out this operation. International trade is just one aspect of globalization, which refers
to a movement toward a more interconnected world economy wherein people exchange more
than just products, services, and resources but also ideas, cultures, and worldviews.
Globalization suggests that the globe is "becoming smaller" because people can now
communicate with one another more easily, both online and physically, as a result of new
transportation and communication technology. In other words, all commercial endeavors that
support the flow of products, services, resources, people, ideas, and technology across
international borders are categorized as international business (Eland, 2021).

Types of Globalization

There are five main and common types of globalization...

1. Globalization of the Economy

2. Global Socialization
3. Global Culturalization
4. Globalization of Politics
5. Global Environmental Change

And all of above has many different effects. It has an impact on economic, social, political,
cultural, and environmental elements of global communities.

This facet of globalization mainly focuses on the sociological and technical elements that are
generating cultural convergence. The term "McDonaldization" is often used to describe the
process of cultural globalization. The process through which commodities, ideas, and

7
information of the highest caliber are generated in one region of the world is known as cultural
globalization (Eland, 2021).

This category includes national strategies for fostering international cooperation in politics,
business, and culture. The endeavor to political globalization includes institutions like the UN
and NATO. One aspect of globalization that is frequently mentioned is political ideology. In
other words, political ideology is another way that globalization is expressed. The evolution of
liberalism is referred to as a political ideology example in the context of globalization (Biswas,
2022).

The term "environmental globalization" describes how environmental protection laws and
practices are coordinated across national borders. The globe is seriously concerned about the
acceleration of globalization and its effects on the environment. Some environmentalists claim
that there is no question that the growth wave brought on by globalization is really harming the
environment. According to them, globalization has significantly increased our use of goods
derived from natural resources, thus impacting the ecological cycle (Joden, 2022).

In my point of view, increasing manufacturing, diversification, economic development, and

increases in living standards are some of the ways that globalization helps developing countries
catch up to industrialized ones. Companies that outsource support the economic development
of emerging nations by bringing employment and technology to such nations. Trade policies
reduce supply-side and trade-related barriers, which increases cross-border business. The
advancement of social justice on a global scale has also been facilitated by globalization,
according to proponents, who also claim that it has drawn attention to human rights issues that
could have otherwise gone largely unnoticed. Here is the main point that are common
(Dithurbide, 2021).

Due to countries' ability to specialize in industries with comparative advantages, studies have
shown that globalization boosts economic growth by more effectively allocating resources. By
supporting reforms in the area of capital and financial development, it also indirectly fosters
growth. China, the nation where globalization has had the most positive impact, saw growth in

8
2000 that was 2.33 percentage points higher than it was in 1975 as a result of greater
integration (Dithurbide, 2021).

The fact that a country's economic slump may have a cascading impact on its trading partners is
one obvious aspect of globalization. Portugal, Ireland, Greece, and Spain, for instance, were
seriously impacted by the financial crisis of 2008. All of these states were part of the European
Union, which had to intervene to rescue debt-ridden countries, afterwards known as the PIIGS
(plural of the initials of the countries in question). Here is the main point that are common in
disadvantages of globalization (Class, 2022).

International trade broadens the market and supports the expansion of national economies.
Being a net exporter is preferred above being a net importer by nations. It is one of the simplest
ways to participate in international trade and it creates a ton of job chances. has a lower time
and financial investment need. It poses less risk than other things. Import and export are vital
to the operation and development of every country since no country can be completely self-
sufficient. can assist nations in getting access to the greatest technology, goods, and services
the globe has to offer. Compared to creating a market, it offers more control over the trade
(Nicholson, 2015).

There is a lack of employment locally when developed nations export their workers. Workers
whose talents are no longer needed struggle to adjust to the shifting work market and incur
greater unemployment rates. The geographical and occupational migration of employees is
referred to as labor or worker mobility. Mobility restrictions may readily be separated into two
groups, one that is personal and the other that is structural. Physical location, as well as
physical and mental capacity, are examples of personal hindrances. Education possibilities, a
variety of laws and political devices, as well as roadblocks and obstacles brought about by
historical accident are just a few of the systemic hindrances. Numerous things prevent labor
from moving around freely. Climate, religion, caste, habits, linguistic variations, conventions,
preferences, and other factors are among them. The other elements include lack of education,
ignorance, debt, commitment to home and location, poverty, economic illiteracy, inadequate
transportation and communication options, and lack of work possibilities. As an illustration,

9
between 2001 and 2018, 3.7 million jobs were lost as a result of the United States' trade
imbalance with China, with manufacturing accounting for more than 75% of those losses (Class,
2022).

(1.2) The impact of globalization on the national economies of contrasting

countries.

As I described above, Greater chances to access more and larger global markets are made
possible by globalization for businesses in less developed nations. Businesses in emerging
nations therefore have more access to financial flows, technology, human resources, lower
imports, and a wider export market. When humanity first began to dwell in various parts of the
world, the phenomena of globalization took on a rudimentary shape. However, in more recent
years, it has progressed steadily and quickly, becoming an international dynamic that has
influenced and involved nations on all five continents.

Businesses must adjust to new tactics based on emerging ideologies that seek to strike a
balance between the rights and interests of the individual and the society as a whole as a result
of globalization. The general public and non-economists anticipate that, especially in the near
run, the costs of globalization will outweigh the benefits. Less rich industrialized nations—those
with lower GDP per capita, for example—might not see the same strongly magnified positive
effects of globalization as wealthier ones Globalization may offer prospects for lowering
macroeconomic volatility on output and consumption through risk diversification. For Example,
Multinational firms that have not only benefitted from globalization but also served as one of
the key drivers of its success include Amazon, Google, Apple, and Facebook. People on every
continent see the creation of these things, which produce commodities and services, as
indispensable. Have described the effects of globalization and given examples ( A.
POLOGEORGIS, 2022).

Like everyone else, our company also has thing with globalization because from the time our
company, Samsung was established, we aimed to penetrate the international market. In the

10
beginning, it was not easy because the countries were not yet developed, the views were
limited and some barrier things. But recently, due to the development and expansion of
globalization, it has become easy for other businesses, including our company which is large
type and doing business internationally, because Samsung products were targeted for everyone
to use from the time we launched, especially the underdeveloped countries, so now due to the
benefits of globalization, we have spread the market in many countries and have been able to
occupy more than 100 countries (Samsung, 2021).

(1.3) Characteristics and features of organizations and agencies involved in

international business

International organizations are central to importation and distributing in our gradually

globalized environment. Their responsibilities comprise keeping safety values, supporting and
evolving nations in attaining financial stability, and setting standards for how nations negotiate
trade contracts and settle arguments. For example, organizations like us that work
internationally need more international organizations. Because when we do business, the main
thing is that our products are safe and reliable and we also look forward to get our products in
other countries and expand. These are some important and popular organizations in
international business ( Roy, 2018).

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The biggest intergovernmental economic organization in the world, the World Trade

Figure 1 World Trade

Organization (WTO)

Organization (WTO), was founded in 1994. The ultimate objective of the WTO, according to its
official website, is "to guarantee commerce flows as easily, reliably, and freely as feasible."

Numerous World Trade Agreements have been negotiated during the organization's existence
and ratified by the national legislatures of member nations (TARVER, 2022).

National standards organizations from all around the world are represented in the 1947-
founded International Organization for Standardization (ISO). In order to guarantee the

Figure 2 International Organization for

Standardization (ISO)

security, equity,

and effectiveness of global commerce, it serves to establish and uphold global standards.
Across addition to maintaining standards in a wide range of sectors, including manufacturing,
transportation, energy, healthcare, agriculture, financial services, and information technology,

12
ISO is not exclusive to any one particular business. 162 nations are now involved in ISO. Geneva,
Switzerland serves as its principal location (KENTON, 2022).

LO-2 Explore the structure of the global economy

(2.1) International trading associations

A trade association is often a collection of specialists brought together to advance shared

interests and engage in public relations operations including advertising, education, political
donations, lobbying, and publishing, but its main aim is cooperation between businesses or
standards. Trade organizations are based on the kind of business, type of product, or a
particular product. These organizations, which may operate on an international, national, or
regional scale and get funding from business associations, industries, or even governments, are
sometimes known as industry trade groups, business associations, or sector associations. Trade
that takes place entirely within a country's or region's borders is referred to as internal or
domestic trade. Trade inside a region or within a country is another name for it. The opposite of
domestic trade is international trade, which occurs across national boundaries. Trade or
exchange of products between two or more nations is technically referred to as foreign or
international trade (Nikfar, 2014).

Only one worldwide international agency, the World Commerce Organization (WTO), is in
charge of regulating international trade. The WTO accords, which were negotiated, signed, and
adopted in the parliaments of the vast majority of the world's trading states, form the basis of

Figure 3 World Trade

Organization (WTO)

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it. In order to do business, exporters, importers, and manufacturers of products and services
are all intended

to be assisted. The WTO facilitates trade in goods, services, and intellectual property between
participating nations by offering a framework for negotiating trade agreements, which typically
aim to decrease or eliminate tariffs, quotas, and other restrictions; these commitments are
signed by representatives of national authorities and ratified by their legislatures. For ensuring
members follow trade agreements and managing trade-related issues, the WTO also oversees
impartial dispute resolution. While the organization forbids discrimination between trading
partners, it makes exceptions for critical objectives including national security and
environmental preservation ( TARVER, 2022).

Free trade area is a territory in which many nations have signed free trade agreements and
retain little to no trade restrictions, such as tariffs or quotas, among themselves. Free trade
zones enable international commerce, the related benefits from trade, as well as the
international division of labor and specialization, but they have come under fire for the
expenses involved with advancing economic integration and for artificially restricting free trade.
A free trade area is a collection of nations without a uniform trade policy toward other nations,
but with most tariffs and non-tariff trade obstacles between its members eliminated. Free trade
zones include organizations like the European Free Trade Association (EFTA) and the North
American Free Trade Agreement (NAFTA) ( RASURE, 2022).

The financing services and goods that businesses utilize to support global commerce and
industry are referred to as trade finance. Importers and exporters may do business through
trade more easily and affordably thanks to trade finance. Since banks and businesses use a
variety of financial instruments to enable trade transactions, the word "trade finance" really
refers to a broad range of these products. Everything that exists in the world is a combination
of good and bad ( B. MURPHY, 2022).

The benefits of international trading under the management of trading associations are...

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More Job Opportunities: A career in international commerce offers many work prospects, but
the industry also contributes to job creation as businesses broaden their global reach. Naturally,
production and service capabilities rise together with the size of the market that is available
and the market share.

Greater Variety of Goods Available: Trading globally gives consumers and nations the chance to
buy goods and services that are either unavailable or more expensive to create in their own
country.

Better Relations Between Countries: Strong links of cooperation in other sectors might develop
from the economic interconnectedness of nations brought about by global commerce.
Countries are more likely to avoid other regions of interstate conflict when they trade
extensively (Brighton College, 2022).

On the other hands…

Language Barriers: Despite the availability of internet interpreters, one of the biggest barriers
to global trade continues to be language. Although it is possible to create instructions and
communications in a different language using translation technologies, these methods are far
from perfect.

Cultural Distinctions: Worldwide trade has plentiful downsides, but one of the majors is how
regularly cultural distinctions go unrecorded. There are unwritten rules of commerce in the
country that are hard to uncover and can be even more difficult to solve (Brighton College,
2022).

(2.2) Barriers to international business

The difficulties that nations have while trading with one another are referred to as trade
barriers. Subsidies, standards, tariffs, quotas, and licensing are the primary forms of trade
barriers utilized by nations pursuing protectionist policies or as retaliatory trade obstacles.
Every single one of these either raises the price of imported products in domestic markets or
reduces their availability there. In fact, to avoid those barriers, organization must trade or work

15
with agencies which can manage and support to international business of trading (TARVER,
2022).

Our company, Samsung, there was a notable case in the past. The most difficult time for us was
during the 1987 Democratic Revolution in our home-base country of Korea, because it is a
revolution period and government sanctions are faced in many ways, which is the biggest
barrier for people like us who are doing business on an international scale. At that time, our
products were in short supply, and the products in the market were extremely expensive, and
we did not have enough products domestically, let alone to export them abroad. Our board
contacted JPMorgan Chase & Co. at that time, and with their assistance, we were able to create
items and restore the original market both domestically and abroad. There, we will see the
importance of the role of organizations that support international business and the way of
protectionism in international markets (Samsung, 2021).

A rate, sometimes known as an import tax, is the most predominant trade wall. Due to rates,
smuggled items are more exclusive than local ones (good produced at home). Government
subsidies to a specific home industry are another frequent trade obstacle. Producing those
things is less expensive thanks to subsidies than it is for export ( A. POLOGEORGIS, 2022).

There are several reasons why factors that affect currency exchange rates are significant. The
common and major things are Inflation, Interest Rates, Public Debt, Political Stability, Economic
Health, Balance of Trade, Current Account, Deficit Confidence/ Speculation Government,
Intervention. These elements can have an impact on nations' trade relations. Technology-
related elements are what spur economic expansion and social transformation. Due to these
cross-border firms, they have an effect on the nations that is both beneficial and bad.
International commerce is significantly influenced by social context, culture, and lifestyle
choices of the populace. The way that customers behave while making purchases of products
and services is influenced by social elements such as their education, level of awareness, social
standing, and cultural trends. Since there has been a rise in environmental consciousness, the
external environmental variables have grown to be important challenges for international

16
business. Numerous commodities and services have different demand patterns depending on
variables like weather, temperature, and climate change (Allen, 2020).

LO-3 Examine strategic and operational approaches to developing

international business

(3.1) Strategic aims and objectives

A firm's decisions and activities made to realize its wider vision collectively constitute its
business strategy. Businesses may become market leaders in their industry by understanding
what a business plan is and how to implement it effectively. A business plan is the foundation of
every company, and any flaws might result in the corporate objectives slipping out of reach.
Business strategy is essential for small and large businesses to succeed, so our company also
has a business strategy. Our company, Samsung strategy has a high degree of adaptability,
whereby the organization is resolute in drastically altering its plan in response to changes in the
external business environment. Few people are aware that the Samsung began as a grocery
shop in Korea in 1938, transitioned to the noodle industry in 1940, and then began producing
sugar in 1950. Later, Samsung entered the woolen mill industry in 1954 and the insurance and
securities industries in 1956. The focus of Samsung Electronics' business strategy is on the
creation of high-quality goods, which is intended to increase profitability and competitiveness.
Additionally, the global electronics corporation is well renowned for reaping rewards from
product innovation and routinely extending its product line (Samsung Team, 2022).

The three components of Samsung's business strategy are as follows:

1. Effective market readership

2. Identifying and taking advantage of market opportunities
3. Development of new products

Mission: Samsung adheres to a straightforward business tenet: to use its expertise and
technology to develop top-notch goods and services that advance a more civilized world.
Samsung places a high importance on its people and technology to do this.

17
Value: Samsung thinks that maintaining strong values is essential for successful company. These
guiding principles are therefore at the center of every choice the business makes, combined
with a strict code of behavior.

Thanks to efficient implementation of this strategy, with a market share of 28.3% across all flat-
panel TV product lines, Samsung continues to hold the top position in the visual display industry
globally. In the first quarter of 2015, Samsung overtook Apple to reclaim the title of world's
largest smartphone manufacturer (Kalipatnapu , 2022).

But sometimes changes in strategic management may be influenced by both internal and
external business organization factors. These elements include managerial practices, structural
changes, competitiveness, socioeconomic conditions, regulations, and technology. In an
endeavor to strengthen competitive advantage, growing competition in target markets prompts
urgent assessments of tactics. Businesses use tactical techniques, such a SWOT analysis, to
analyze their strengths, weaknesses, opportunities, and threats and modify their current plans.
Changes in strategic management may be prompted by the social and cultural characteristics of
your target markets. Laws affecting taxes, the environment, and healthcare also affect strategic
management. In order to comply with the new laws' standards, you must modify your
company's current plans ( Cole-Ingait, 2019).

(3.2) STEEPLE and SWOT analysis of Organization

Our company, Samsung which prioritizes more and more development and innovation more
than ever, is always considering better and more innovative strategies for the future. That's
why Samsung, like any other industry, often consider STEEPLE and SWOT analysis, a framework
used to assess a company's competitive position and develop strategic plans.

Table 1 STEEPLE analysis of global organization Samsung

18
 Social
• Consumers have happily adopted the
usage of smartphones
• Social standing is no longer a strong
motivator for them to upgrade their
mobile devices in favor of more practical
and affordable alternatives (Team,
2022).
Economic
• The business owners may thus plan
their marketing tactics in accordance to
maintain a healthy profit margin by
taking a number of factors into account
in order to obtain a thorough picture of
the economic component (Team, 2022).
Technology
• The company is now offering its customers
expensive accessories.
• Samsung must contend with powerful rivals
like Google and Apple (Team, 2022).
Environmental
• Environmental issues may be encountered by
Samsung because China is enforcing tougher
emission restrictions, industrial emissions from
manufacturing facilities there are a problem.
(Team, 2022).

Political
• The cash balance for Samsung phones
in Korea is 240,778,939,050 won
($195.57 million).
• Trade ties between Korea and China
and the United States (Team, 2022).
Legal
• The decision for Samsung to enter the financial
services sector was profitable.
• These business areas come with insurance and
compliance costs for Samsung (Team, 2022).

Ethical
• Samsung should be conscious of the need to provide products that satisfy the ethical
consumer.
• The business has made enough preparations to traverse the global consumer market
• Samsung has all of its tasks in order.

Table 2 SWOT analysis of global organization Samsung

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 Strengths
 Samsung is the world’s biggest producer of
LCD panels, mobile phones, and smartphones
in the world. It also produces televisions.
 Samsung has tremendous skills in both
production and marketing.
 Samsung and merchants in the US and Europe
have a history of cooperation (Samsung,
2021).
Opportunities
 More interest in tablet- and smartphone-
based services like Samsung Pay
 The middle class is expanding in emerging
nations, which will expand the demand for
consumer electronics (Samsung, 2021).
 Expanding internet market from retailers like
Amazon.com
Weaknesses
 In the smartphone industry, several Chinese
rivals are overtaking Samsung. Huawei's
market share increased by 48.1% between
2014 and 2015, while Xiaomi's share increased
by 29.4% (Samsung, 2021).
 The marketing strategies employed by
Samsung fall short of those used by Apple.
 Sales of consumer electronics in markets with
little room for expansion are heavily reliant on
Samsung.
Threats
 Apple appears to be building on its reputation
for superiority, dependability, and elegance.
 Galaxy smartphones run on the Google
Android operating system, which is less well-
liked by the general public than iOS.
 Chinese manufacturers like Huawei and
Xiaomi might become Samsung's main
competitors (Samsung, 2021).

Conclusion
In conclusion, the business industry had evolved over time and growing internationally by the
help of globalization. As I said before globalization suggests that the globe is "becoming
smaller" because people can now communicate with one another more easily, both online and
physically, as a result of new transportation and communication technology. Globalization is
also happening because of people, and it is benefiting people a lot. Because of globalization, the
role of international organizations has become important so that countries cannot rule and
trade as they wish. These international associations not only facilitate trade, but also deal with
the different barriers and difficulties of different countries, such as currency exchange, inflation,
and government regulations. In order to work with such organizations and expand business
internationally, need a good strategy and constant monitoring of external and internal
influences. Always searching, learning and analyzing the STEEPLE and SWOT of own business
and also should keep an eye out for current and future trends before creating action strategies
to adjust to these fluctuations in order to survive and stand out in this fiercely inexpensive
environment.

20
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Plagiarism Check (Total-2%)

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