(comment on 1st & 2nd discussions seperately each one about 3-4 lines) 1st
Macroeconomics and microeconomics conditions should both be considered when we want to conduct a business abroad. PEST analysis can be used for macro, while SWOT can be used for micro. PEST analysis evaluate a country’s political, economic, social and technological. It is obvious these macro-environmental elements will influence a lot to the business, since if you got no basic knowledge about what the country you are working with, what is the law and regulation for the specific industry, you may can’t start the business at all. On the other hand, SWOT is mainly focus on the industry prospect. We must know the size of the potential market in the target country, and how strong local company is, or we may earn no revenue at all even we set up a company successfully.
If I have the capital to own a company abroad, it would be a big data analysis consulting company. I would prefer to set it in Los Angeles, since here have the most advanced IT technology. I don’t need to care if my data analysis tool can be supported by no hardware capacities, and I don’t need to worry about I can’t find talent engineers for the company. There is also a very big potential market in US, even though there are already many very strong competitors exist like Palantir and INSIDESALES. Big data can collect data from many industry, and the hardest part for the business is to get access to the database. In order to do this, I need to get support from big companies like google or Microsoft, Amazon. They got so many customer data, and it would be really fun to make statistic results from them and help those big companies and other business to earn more.
I guess the most fun part of a country is its food and art. Italy, Paris and Japan are paradise for me from this aspects, and I really wish when I am old and tired of ‘city life’, I can go a small village in Italy and operate a flower shop or small cafe. 2nd
If I have a chance to conduct business abroad, I would like to go to Japan. First of all, both Chinese and Japan are Asian countries, which means they share certain culture value. Second, Japan is famous for its good quality. I think having factory there would be a good idea to help us produce high quality product.
However, there are some things to consider when doing business abroad.
Language will be the most difficult barrier doing business in another country. There have been cases where advertising was not translated correctly and had a bad sale result.
Especially food industries need to take this into account seriously. The eating habits can be so different in each country. For example, McDonald, which has branches in more than 119 countries, has been customizing its menu for years.
If you want to live in japan and do business in Japan, there will be big issue of applying for business Visa. Japan is a country which has long tightly immigration policy.
Japan is an example of a country which code of social conduct became so important. For example, Japan is a super polite culture, so they value silence more than speaking loudly. Besides, bows are so important in Japanese culture. However, executing a correct Japanese bow can be very complex. Locals may not expect bow from foreigners, a small bend at the waste would be still consider as polite.
The relationship between Japan and China is really complicated. Nanjing Massacre left a huge scar on two countries’ relationship back in 1937. Since them, boycotts of Japanese products have been conducted by lots of Chinese in response to Japanese political aggression. Therefore, if my products are made in japan, I probably need to be careful opening Chinese market.