Environment Factors-Free-Samples for Students-Myassignment

Question: Discuss abouttheEnvironmental Factors in the United States of America. Answer: Environmental factors Tiger Balm is a company that is serving the entire world with its unique formulation for the last 100 years. It is proven safe for any age such as the youths and the old. The company has solutions to any kinds of general pain in any part of body. It comes in two formats such as ointment and spray. It is highly innovative, which is why the company has one of its latest offerings for killing the mosquitoes. Singapore became the parent country for the product from there only the product reached to neighbouring countries such as China, Malaya, and Hong Kong (CORPORATION 2017). The company is set for its venturing into the United States of America. This is very important for the company then to analyze the external environment in the target country before they enter into the market. The following discussions would now focus on the business environment in America. Host country/ business climate The United States of America is the worlds most favourable place to small and big size business. The highly elevating GDP growth is a good indication for the new start-ups. The high population of the states and the unmatched diversity of the country make this a welcoming place to initiate a new business. They are innovative in nature. They have high skilled workforces, which can form the backbones to any potential business (Selectusa.gov 2017). They believe much in the Research Development process. They spend a high investment on the RD process. They have high infrastructures as well to support a progressive RD in the country. A progressive thought of the country towards the technological advancement makes this a good place for a new business venturing (American Chemical Society 2017). SWOT analysis Strengths Weaknesses Making partnership with local companies to enter new market is one of their key to success Conversion rate is high, 8 out of 10 customers consider repurchase Experienced business units Skilled workforce Several other competitors in the Asian and the global market such as Zandu Balm, Bengay and Deep Heat etc Consumer behaviour is different in the United States of America Opportunities Threats American customers are probably the best in the world Analgesic industry is becoming wider with the increased number of sports these days Future ever-changing customers needs is enhancing the competition in the market Future generation require much more creativity than what exist Challenge to maintain the successful journey for ever Challenge to satisfy the global needs while staying relevant to the Asian customers Figure 1: SWOT analysis of Tiger Balm Strengths According to the Executive Director Mr. A K Han, the unique strategy of the company is their ability to become localised that they do by integrating with local companies in the different parts of the Asian countries. The conversion rate for the company is also very high. Every 8 out of 10 people consider repurchase of its products. Indeed this very good asset would definitely boost their confidence while being in the United States. They are experienced business units. They have been into this industry for the last 100 years. The experience that they have would definitely assist them think global. This indeed is necessary while they are in the United States of America. Skilled workforces have always remained their strength. This is equally important for the company that they recruit skilled workforces for their United States unit. This would help them being highly creative, which is necessary to get a good response from the American customers (Yadavalli and Lakshman 2015). Weaknesses A high level of competition in the industry is a threat to the company in both the Asian and the global market. The Asian market has some other giants as well such as Zandu Balm. On a same note, it would have to establish its own place in front of some American market giants such as Bengay and Deep Heat (McQuay et al. 2012). Consumer behaviour plays a significant role in making a brand sellable (Solomon and Michael2014). The American consumers are perhaps the best in the world. This would be a good chance for the company to cash on the provided opportunity provided if they are competitive enough. Opportunities In the contemporary world, business companies get attracted towards a particular market because of its certain potential aspects such as high population, favourable government rules, highly growing economy, supportive customer behaviour, low costs for labour etc. The United States of America is the strongest economy in the world (Spence, Michael, and Sandile 2012). The customers of the country are probably the best in the world. These two factors do simply create a very good platform for the Tiger balm Company in US. Threats The ever-changing customers needs are enhancing the competition in the market. In such circumstances, this would be a vital test for the Tiger Balm Company because there are places for the improvement in its creativity. Sustenance has perhaps become a widely discussed topic for the international business. The Tiger Balm Company has the same challenge ahead of them. They need to become more creative in order to attain the sustenance. They have another challenge ahead of them, which is to satisfy the needs of global customers while staying relevant to the needs of the Asian customers (Smu.edu.sg 2017). The United States its culture Individualistic culture America scores high on individualism on Hofstede cultural dimension. The country scores 91, which means that it has high numbers of people that believes on their own credibility (Bergiel et al. 2012). They do not rely on a group or their family. Universalism vs. Particularism The United States of America is a Universalist country that does not have bias behaviour for any specific group. It rather has more concerns for what is right or wrong (Bergiel et al. 2012). Neutral vs. Emotional America is a Neutralist country, which has low values to deep friendship relationships. However, it is rather more approachable as the countrys people are not shy of initiating communications with some strangers. They do so for some reason such as for business purpose (Bergiel et al. 2012). Specific vs. Diffuse The United States of America is of Specific cultures, which has high place for others in public. They have strong separating feelings for their private and public relationships. They are very specific to both the groups (Bergiel et al. 2012). Achievement vs. Ascription The United States of America is of Achievement culture that believes in what has so far been achieved. The group believes in attaining the goal rather than looking at the surrounding circumstances (Bergiel et al. 2012). STEEPLED analysis Socio-cultural factors The country is facing the problem of ageing population that might enhance the labour shortage and tax rates in the future ahead. The healthcare and the education system are within the top nations in the world. Majority of people are open-minded; however, the rising racism feeling is a serious concern (Buckingham, David, and Rebekah 2013). Technological factors They have highly advanced technological platform. The country has high values to the investments made on the Research the Development process. Their innovative ideas are widely evident in some of their technological advancements such as biotechnology, nanotechnology and environmental technology (Taylor and Timothy 2014). Environmental factors America is the second largest contributor of CO2 in the world. Acid rain is another issue in America, which is caused by high air pollution in the country. Acid rain is dangerous to trees, animals and even to buildings. The western part of the country has scarce of fresh water. The particular region also experiences drought, which is affects the agriculture process (Seneviratne et al. 2012). Economic factors It is the worlds largest economy. Consumers are major contributors to this fact. The country has high susceptibilities to some natural calamities such as Katrina, which disrupts the natural resources badly. To maintain the economy development the US government has introduced TARP (Troubled Asset Relief Program), which performed well to stabilize the economy during hardships in the past (Lebergott and Stanley 2015). Political factors It is a strong democratic country. Elections in the country are very fair and transparent. However, the country has faced vast criticism for its interventionist policies that they used for war on terror (Graber, Doris and Johanna 2014). Legal factors The American government laws are very flexible with the requirement of employees. In some parts of the country, breaks are not limited. Job hours are not limited as well. In addition to this, employees are not ensured with compulsory vacations given to them. Employers have the rights to cancel their vacations (Fourcade, Marion and Rakesh 2013). Ethical factors There are high ethical transgressions at the workplaces. However, experts do believe that ethical considerations are ignored at the time of economic struggles. It indeed expands in its restrictions at the time when there is no economic pressure. Workplace bullying does exist widely at the workplace. Ethical violation against customers and the co-workers is wrong in the United States of America (Mahoney and Jack 2013). Demographics factors America has highly diverse ratio of racial ethnic works because of immigrants that are coming to the country. The demographic changes in the country are influencing the political elections majorly. Millennials are influencing the business of most sectors such as the Smartphone and the Cosmetic industry. Womens roles have become wider in the leadership and the labour force (Cohn et al. 2017). Government incentives The U.S. federal government has several services and programs for the companies that operate in the country. They are involved in common workforce development. They also help new investors develop their business operations in the country. Companies operating in the United States of America receive tax deductions because they operate in the country (Selectusa.gov 2017). References American Chemical Society. 2017. A Competitive U.S. Business Climate: Innovation, Chemistry, and Jobs - American Chemical Society. 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