Enter preneuship Essay Example | Topics and Well Written Essays - 1000 words

Enter preneuship - Essay Example The international business scene offers unlimited opportunities for entrepreneurs in generating income and increased revenues. However, such success does not come without a close analysis of the market, as well as the factors that are likely going to contribute to the success of the business at the international markets. Thus, different factors contribute to either the success or failure of businesses operating at an international level. This essay discusses the factors that entrepreneurs should bear in mind whenever trying to establish their operations at the international level. Culture According to Neelankavil (2007), culture of the people is one of the most important factors to consider before establishing a business at the international market. Different countries have different cultures and within these countries, people hold diverse cultural practices and beliefs. Experts argue that since United States is the most developed country globally, assuming that all cultures in the w orld resemble the United States is the worst mistake that a business could make. ... This is however not true as some cultures do not embrace technology at all. Subsequently, whenever deciding on the methods to use in advertising for the products, putting into consideration the level of technology absorption is important. Using technological modes of advertising such as the internet and social media, live adverts and television targeting such people is less likely to have any impact. Further, some communities due to their religious beliefs do not use some products. These could be either processed foods or elements of technology, which they consider unspiritual and unhealthy. An entrepreneur should be aware of such issues in the society before establishing operations in any place. Additionally, observing the traditional cultural events and practices of different communities is equally important for the success of any entrepreneur at the international market (McDonald & Burton, 2002). Observing and respecting these events in addition to making the business appealing to the local people reduces the levels of conflicts with the people. By showing respect and engaging in these events with the people engages the business, thus creating a good relationship with the locals. This could contribute to the success of the business in this market. Legal factors Every country has different legal systems from each other. As constitutions govern different countries, the constitution establishes the laws governing businesses operating within its jurisdiction. As such, any entrepreneur seeking to establish operations at the international level ought to consider the laws governing the businesses in target countries. The most important law to put into consideration is taxation of the businesses in the country (McDonald &