Memo to training manager Essay Example | Topics and Well Written Essays - 1000 words

Memo to training manager - Essay Example As revealed from the Encyclopedia of Business and Finance, international marketing â€Å"occurs when firms plan and conduct transactions across international borders in order to satisfy the objectives of both consumers and the firm† (1). Obviously, as a global organization where our operations have been expanding in various countries all over the world, the strategies that were previously applied in our domestic markets are not sufficient and applicable in global settings. Accordingly, â€Å"unique environmental factors that need to be explored by firm managers before going global include trade systems, economic conditions, political-legal systems, and cultural conditions† (Encyclopedia of Business and Finance 1). These factors are macro-environmental factors that impinge on the performance of global organizations as they impact the host countries’ operations. For instance, trade systems encompass â€Å"regulations and restrictions include tariffs, quotas, embargoes, exchange controls, and nontariff trade barriers† (Encyclopedia of Business and Finance 1). Economic factors consider â€Å"industrial structure and income distribution. Industrial structure refers to how well developed a countrys infrastructure is, while income distribution refers to how income is distributed among its citizens† (Encyclopedia of Business and Finance 1). Politico-legal factors take into account the prevailing government structure, laws, policies and regulations, status of stability and impending threats. Finally, and equally important are cultural factors that include familiarity with the language, customs and traditions, values, and dimensions that affect practicing business in host countries. Just like any other objective for training and development programs, a specialized training for IM would prepare and enhance the skills, knowledge and abilities of all personnel on trading within international scope. As emphasized in Education