Wednesday, October 16, 2019
Strategic Management In International Business Essay
Strategic Management In International Business - Essay Example Marks and Spencer (M&S) is a leading UK-based company specialized in clothing, homeware, food, furniture, beauty, financial service and, energy products (M&S Home Page 2009). The country selected for penetration is the Slovak Republic. The choice was not accidental: with the development of European Union new markets represent unlimited opportunities for M&S to expend their activities. Slovak Republic is one of the potential geographical regions for M&S to expand its activities and gain larger market share. This location was selected because the Slogan Republic is an attractive tourist destination for many European tourists, so it would help M&S to attract wider target audiences in summer and in winter (Dobson and Starkey 43). There are many challenges associated with opening a business in the Slovak Republic. The analysis of the whole issue shows that retail businesses are more likely to develop new markets. According to the recent research, foreign companies are likely to build a business around new emerging technology. The general situation can be regarded as rather positive. An increasing role of unions forces M&S to spend much cost on labor resources increasing wages and social provisions. High labor cost can result in decreasing revenues and profitability of the industry. On the other hand, new technologies and automation allow retailers to decrease prices and improve service quality. The Slovak Republic can be seen as an outpost for further expansion in this region. The country is known for importing a wide range of products. The company strongly recommends many states will have to cope with mandatory standards and private sector voluntary standards. The Slovak Republic is an active participant of the EU-led operation, so it will be easy for M&S to conduct its financial operations and meet trade regulations.