10 March

Topic: Revision

     This is the last week of this term's studying. Through these lessons and lectures of the whole term, I learnt a lot of professional knowledge about business management and mastered some detailed technological methods to deal with business problems. In this blog, I will give a list of key points and the major structure about this subject. It likes review notes to help me remember  all the knowledge and get some further understandings.

      First of all, from this subject, I knew lots of definitions of professional words in the business, such as organisations, globalisation, strategy and so on. Also, there are many specific vocabularies which I must master the purposes of them and what they stand for. For instance, the purpose of porter's five forces is identifying competitiveness and profitability, and meanings of these five forces are threat of substitute products, intensity of rivalry within the industry, threat of new entrants, bargaining power of buyers and bargaining power of suppliers. In addition, SWOT and PSETLE are another two significant parts. SWOT stand for strengths, weaknesses, opportunities as well as threatens, and PESTLE represents political, economical, social, technological, legal and environmental. Expect these, there also have many important business words need to be understood.

       Secondly, combining with the detailed knowledge, I can analyse some real business cases and find out measures to solve problems. Established cases like tools to help me understand vital points deeply and teach me to know the ways which are used to compare the similar case in different conditions. For example, in the trend of globalisation, Tesco in USA and Starbucks are two international Coffee Shop industries, but they got different results in the processes of their development. This is a very important case studying should be learnt. According to characteristics of each of them, I have to do some further surveys about themselves and get a clear understanding about their domestic markets and international markets. To sum up, focus on the studying of this part, I mastered how to make correct strategies which can let organisations find new ways to fit for the modern society and have rapid improvement.

       Moreover, I also got many useful professional knowledge about business management which taught me to become an eligible manager. In order to master every part, I knew that setting up a total structure about each main content is very necessary for studying.

        In conclusion, business management is one of vital subjects in my studying, it is a guide which leads me to become better. Through the total revision of this passage, I master the knowledge clearly.

       

3 March

Topic: Globalisation

       As an important part of  international business, globalisation needs to be paid more attention to study. This week, I have a further understanding and master a lot of fresh knowledge about it.

       Firstly, I would like to introduce the definition of globalisation. Globalisation refers to the increasing integration of internationally dispersed economic activities. It includes some different factors about societies, cultures, politics and economics. As the development of globalisation, there are lots of concerns appearing and become challenges. They are divided into many aspects, such as trade in goods and services, investment, labour force movement, intellectual property and so on. Because of all of them, the instability of globalisation increases.

        Secondly, focus on the drivers behind globalisation, the necessary of its development need to be understood clearly. In order to reduce the possibility of concerns to become true, there has some useful methods should be taken. In the aspect of political, taking preferential trading agreements and removal of border is significant, EU and NAFTA are two important examples about this measure. Also, increasing the advantages of technologies, likes the development of the internet which makes small companies to compete globally, can be regarded as another driver to go global. In addition, managers should pay more attention to different levels of markets and costs to let saturated domestic markets force business to move markets. Moreover, enhancing standards of the public's real lives increases the need of goods and services. It can progress the speed of globalisation, even make it reach a high level. The last factor is the competition. The competition among many companies gives them a lot of motive power to reclaim more markets as well as develop the competitive power. Companies have to go global and do trades in international markets to ensure their positions in the total markets.  Starbucks which is an international company, is a successful example about going global with right methods. By contrast, Tesco in USA is failing. It did not have a clear structure in the process of development. The managers also did not realize the growth of vital markets and can not enter the trend of globalisation with its own advantages. Expect these, Tesco in USA and its management model could not fit for today's modern society.

        Thirdly, globalisation is a helpful way to develop in the competitive market, but how to go global successfully is a difficult problem for lots of organisation. Combining with the whole environment of international markets and characteristics of globalisation, I master some detailed methods and internal strategies which need be considered and  undertook by organisations. Having a deep understanding about advantages and disadvantages also can help companies take further ways to go global.

        To sum up,  making organisations compete globalisation is not easy to succeed. And organisations have to achieve their aims and get further developments. There are lot of factors pushing forward the globalisation and improving the necessary of it.

24 February

Topic: International Business

     Through the study of this week, I master not only the whole structure of international business, but also some detailed points, such as the globalisation and international trade. These detailed knowledge help me have a further understanding about international business more clearly, and let me know a lot of useful methods to deal with business cases.  

      First of all, through a successful business example--an international company named Starbucks, I know its major management ways and the important successful reason. The managers of Starbucks have correct analysis about domestic markets and international markets, according to different environments, they use different ways to develop themselves and expand overseas. Besides these, they also focus on the sources of the coffee and insist on fair trades, ensuring buyers can get fair prices. All of these let Starbucks becomes more and more successful and gets more opportunities to face in operating internationally.Thus, because of this case, I know that creating ways which fit for themselves is the most important factor for companies, specially for the international business.

       Secondly, the international environment is not very simple, sometimes it gets lots of challenges and opportunities. So, finding and following useful methods have become big issues for companies. There are many ways helping the business go international, such as outsource, exporting and importing, foreign direct investment, licensing, joint ventures as well as wholly owned subsidiary.These different ways can make companies enter the total international environment quickly and easily.

       Thirdly, focusing on the context of international trade, I master to analyse the international business from different angles. It is significant to understand itself's advantages and disadvantages. In addition, developing the international trade successfully is not easy, managers should know many rules of the international environment clearly and put them into actions flexibly. In my opinion, international trades not only have vital impacts for companies, also influence the whole international markets. Moreover, it is a duty for companies which have international trades to obey the rules to develop and make their management systems better and better.

        In conclusion, international business as an important topic in business management needs paying more attention to be mastered. Expect these detailed knowledge, I should learn some other cases to understand this part deeply .