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“identify and describe the factors affecting competitiveness in international markets and how businesses operating in international markets are affected by these factors”
Explanation
Given some information about a business operating in more than one country, can you:
- list and describe the things (factors) that would make any business more or less competitive compared to foreign businesses
- explain why these factors make this business more or less successful
Assistance
This is nothing more than an extension of criteria E4. It’s asking you to look at why operating in foreign markets can sometimes be quite a challenge - what additional factors make being competitive that much more difficult when it comes to operating in international markets?
In reality this is really a case of looking at real world business problems. The factors that make a business competitive nationally are no different to those at an international level. However when you sell abroad you face:
- different customers,
- different laws,
- problems with exchange rates and
- much more competition
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