Contemporary Issues in International Business Department

Question: Discuss about the Contemporary Issues in International Business Department. Answer: Introduction: International business refers to the occurring of all commercial transactions like sales, investment, logistics and others between two or more countries or nations beyond the political barriers (Wild, Wild and Han 2014). The aim of international business is to focus on the controllable and uncontrollable forces. The controllable forces can be seen within the organization. On a more precise note, controllable forces can be controlled by the organization as the management team of the organization can control the personal management. On the other hand, uncontrollable forces are those factors that cannot be controlled by the organization. There are many instances of uncontrollable barriers like the climate barriers, cultural barriers, barriers from international competitions, and the intervention of the Government (Broucek et al.2012). One of the crucial uncontrollable barriers is the various kinds of policies introduced by the government that affect the international business in a large way. Now-a-days, corporations face two emerging issues in the international business; that is the advancement of technology and the fierce competitions among the rivals. The improvement in the e-commerce all over the world is contributing towards the fierce competition among the big international corporations (Cavusgil et al. 2014). The aim of the research proposal is to highlight the present issues in the various aspects of international business. The understanding about the main elements of international business is the main topic of the analysis. After that, the main analysis will be followed by a macro environment analysis to focus on the key elements of the topic. The research will be mainly based on primary data. After that, certain hypothesis and research question will be developed (Hamilton and Webster 2015). Knowledge and awareness about the macro economic factors that are affecting the international business will be focus of the research proposal. All these elements have been seen by the perspective of the organizational managers who are responsible for the running of an international business. Another aspect of the research is to evaluate the effects of online marketing on international business (DesJardins and McCall 2014). International business and contemporary issues There is a strong influence of the global, cultural and ecological factors on the primary contemporary issues of international business as they are responsible to drive a business in a particular region. It has been observed that the international business in situational organization depends directly on the controllable and uncontrollable elements along with various market forces (Carroll and Buchholtz 2014). Some of the major aspects of internal business are commitment to the business, connectivity, country acumen, critical mass, continuous innovation, confidence, dealing with the competitors products and services and others (Wachowiak 2016). Analysis of the Macro environment of international business According to Dunning (2013), the macro environmental factors are those external forces that create impacts of the decision making process of the international business. There are many elements of macro economy like technology, economy of the world, legal and political factors, various climate factors, cultural barriers and others (Meyer and Peng 2016). Different types of studies regarding the macro environment have been taken into consideration in this study with the help of PEST analysis. The contemporary legal barriers of international business have been taken into consideration based on term of tariff and non-tariff across the international borders (Hamilton and Webster 2015). Research Questions and Hypothesis Research Questions Managers are aware of the macro environment elements related to International business? Does e-commerce has a major role in acting a change agent in the International business? Is online marketing the solution for solving the contemporary issues related to international business? Research Hypothesis The research hypothesis will be based on the following assumptions will be able to efficiently address the issues related to the contemporary issues related to International Business: Null Hypothesis (H0): The use of online marketing tools such as company website and social media platforms like platforms such as YouTube and Facebook cannot be used to resolve the contemporary issues in International Business. Alternative Hypothesis (H1): The use of online marketing tools such as company website and social media platforms like platforms such as YouTube and Facebook can be used efficiently to resolve the contemporary issues in International Business. Operational definitions and measurements In order to simplify the scope of the study and analyze the contemporary issues of the International environment the research has been limited to the technological aspect of the macro environmental analysis. Hence, the primary focus will be put on the influence of the ecommerce in changing the overall international environment both in positive and negative aspect. The technological aspect has been also shown with the analysis of online marketing in terms of addressing the various type of different issues related to international business environment. The measurement will be based on the data analysis collected from a range of 75 respondents among which 50 respondents will employees employees/expatriates with international business works and the rest of the population will be budding entrepreneurs or managers planning to expand their business internationally. The entire data will be analyzed based on a Likert scale and in terms of converting the data to percentage values. Research Methodologies: Data Collection and analysis Primary data will be used for studying the different types of problems selected for the research data. In total 75 respondents will be selected for conducting the survey. Among which 25 respondents will be managers or budding managers who will start their business borders across international borders and 50 participants will be the employees with international assignments. The primary data analysis will be mainly based of survey technique. The data will be analyzed with the use of central tendency such as mean, median and mode. The quantitative data interpretation will be mainly based on the use of the techniques, which will include the use of descriptive statistics. The initiation of the research process will involve identifying the contemporary issues which is primarily there in the international business. The data collection process will be conducted with the use of survey procedure. After collection of the data using the likert scale the descriptive statistical tools will be applied on the relevant data. The expected outcomes will be able to draw the knowledge related to the existence of the macro environmental elements among the participants. The research will be also able to show whether the use of inline marketing tools will be able to address effectively the problem related to International business. Data Analysis The primary data analysis will be based on the different types of the questions, which have been selected for the survey analysis. The secondary data analysis will take into consideration the theoretical aspects of the literature review. The respondents will be surveyed on questions such as managers awareness of the macro environment elements related to International business, e-commerces role in acting a change agent in the International business and finally depiction of whether online marketing is the solution for solving the contemporary issues related to international business. The data analysis will take into likert scale options such as full awareness, partial awareness, meager awareness and non-awareness of the manager and the employees. The different aspects of the hypothesis testing will be based on the values taken in form of awareness, influence and redressing. The main results of the data analysis will involve the use of Mean, Standard Error, Median, Mode, Standard Deviation, Sample Variance, Skewness, Range, Minimum, Maximum value, Sum and Count of the given data. The hypothesis testing will be mainly focused on the redressing system. The acceptance or the rejection decision of the hypothesis statement will be based on the choice of the options related to the third question. Conclusion From the analysis based on the different types of the interpretation tools based on the theory base, background assumptions and relevant literature used for the research, it can be stated that the respondents for the question 1 has shown an inclination towards partial awareness of the knowledge of the macro environmental components related to international business. It has been further observed that the related participants have agreed to show a marginal influence on the role of the ecommerce in influencing international business. This influence factor can be related both positively and negatively. Respondents of question 3 have shown a neutral agreement in terms of the agreeing online marketing can act as a solution for solving the contemporary issues related to international business. Based on the several interpretations it is recommended to reject the alternative hypothesis set for the research study. Reference List Broucek, W., Kendall, P., Hauck, C. and Schacht, H., 2012. International Business and Contemporary Issues in Business. Carroll, A.B. and Buchholtz, A.K., 2014.Business and society: Ethics, sustainability, and stakeholder management. Nelson Education. Cavusgil, S.T., Knight, G., Riesenberger, J.R., Rammal, H.G. and Rose, E.L., 2014.International business. Pearson Australia. DesJardins, J.R. and McCall, J.J., 2014.Contemporary issues in business ethics. Cengage Learning. Dunning, J.H., 2013.Multinationals, Technology Competitiveness (RLE International Business)(Vol. 13). Routledge. Hamilton, L. and Webster, P., 2015.The international business environment. Oxford University Press, USA. Meyer, K. and Peng, M., 2016.International business. Cengage Learning. Wachowiak, H. ed., 2016.Tourism and borders: contemporary issues, policies and international research. Routledge. Wild, J., Wild, K.L. and Han, J.C., 2014.International business. Pearson Education Limited.