Week 6 Discussion Responses International Business

International Business Week 6 Discussion One: Respond to at least two of your classmates by commenting on their posts with constructive comments that move the conversation forward. Though two replies are the basic expectation for class discussions, for deeper engagement and learning, you are encouraged to provide responses to additional students and to respond to any comments or questions from other students

Tiana’s Post

TechWave Solutions

Executive Summary:

TechWave Solutions is a SaaS (Software as a Service) product that provides innovative solutions to businesses looking to streamline operations, reduce costs, and improve efficiency. Our unique value proposition uses advanced technologies to automate business processes, provide real-time insights and analytics, and improve decision- making capabilities. We are expanding our operations globally, starting with Singapore as our first international market. Our highly skilled and experienced team is dedicated to delivering exceptional customer service and support, making us the go-to solution for businesses of all sizes.

Company Overview:

TechWave Solutions provides innovative SaaS solutions to businesses of all sizes. Our product offers a unique value proposition that automates business processes, provides real-time insights and analytics and improves decision-making capabilities. Our team is made up of highly skilled and experienced professionals who are passionate about delivering exceptional customer service and support. We are expanding our operations globally, starting with Singapore as our first international market.

Our strategy is focused on scalability, innovation, and customer service. We have carefully studied the Singaporean market identified key trends and opportunities and developed a strategy to scale our operations while maintaining the quality of our products and services. We are confident that our unique value proposition and exceptional customer service will make us the go-to solution for regional businesses. Our long-term goal is to expand our operations globally, bringing innovative solutions to businesses worldwide. With a focus on scalability, innovation, and customer service, we

are confident that TechWave Solutions will become a leader in the SaaS industry, helping businesses to thrive in an increasingly digital world.

Krystian’s Post

Executive Summary

InTouch Consulting is an IT consulting business, based in the Philippines. The company offers a variety of information technology services to clients, which include assessing the hardware, software, and security needs of each client. In addition to helping clients get started with their IT needs, InTouch Consulting will also help clients maintain and update their technology as needed. The goal is to have versatile employees with a variety of IT backgrounds in order to offer several services for our clients. Some of the areas that are in demand for businesses are data analytics, security, systems integration, and enterprise resource planning (ERP) services. The IT consulting market is also expected to grow by at least 9.1% by 2026 (Pelta, 2022). In addition, computer and information systems managers have a projected growth outlook of at least 16% (BLS, 2023).

IT consulting is a growing market in the Philippines and is projected to have annual revenues of $96m in 2023. The market is also expected to grow by 9% each year, with revenues expected to reach around $140m by 2027. Although these numbers are smaller in comparison to other countries, such as the US, the IT consulting market has shown much growth in the Philippines (Statista, 2023).

The strategy for InTouch Consulting to enter the market in the Philippines is to have a local partner. This partner will help in setting up the foreign hub of the company and can help with legal and cultural aspects that may be difficult to navigate. This partner will also offer insight to the market, consumer behaviors, culture, value, norms, etc. that may affect the business strategy. InTouch will also use a combination of host-country nationals and parent-country nationals for management.

International Business Week 6 Discussion Two:

Warren’s Post

Hello class,

Which topics did you find most interesting and why?

One of the topics that I found interesting was global expansion strategies. A global expansion strategy is a formal business plan that outlines how a company intends to expand its operations into foreign countries and markets, while mitigating risks and enhancing revenue growth (Peng, 2023). Global expansion can offer many benefits to any company looking to expand outside of its borders (Donnelly, 2023). One benefit is the opportunity to acquire top global talent at a lower cost, tax and compliance benefits can also be some advantages to companies who are looking to expand globally.

Another topic that interested me was the foreign exchange rates and how our domestic currency rates are against other currencies around the globe (Foreign currency…, n.d.). Also knowing what can affect our dollar across other currencies will help to inform me about making stock buys.

Which subjects do you think will be most relevant in your business career and why?

The subjects that I feel are the most relevant for the career path that I have chosen would be supply chain management and entrepreneurship. I have developed an interest in how goods flow from the manufacturer to the consumer on a global scale. I worked part-time for a global supply chain company several years ago, which sparked my interest to learn more. I would also seek to develop my own supply chain management company.

Which topics would you like to see presented in a case study or business simulation format?

I would like to see topics on global communication include the challenges of communicating with people from other time zones, and with different languages.

How did the virtual aspects of the course help broaden your view of international business?

The virtual aspects helped me to broaden my view of international business because of the discussions I could learn from others and their experiences. The videos helped to give me another perspective on the learning objectives each week.

After taking this course, would you consider a “virtual internship” to explore careers with a particular company? Why or why not?

After participating in and learning from this course, I would consider a virtual internship as this would give me a global perspective of the career path that I would pursue after graduation.

Jacob’s Post

Through the journey of our international business course we have covered numerous topics! Some of my personal favorites included navigating the different variables that influence the macro and micro of currency exchange. The importance of hedging or protecting against revenue loss in the transfer of value from region to region is topic with significant depth. I also thoroughly enjoyed diving into the history of trust busting in the U.S. and how it is utilized to maintain a level of market fairness.

I have high hopes to continue my personal entrepreneurial journey. Such items we navigated in this course that are applicable in a very real way include first/last move advantages, management strategies, hiring strategies, effective marketing, and ethical operations.

I think it would be fruitful to actually complete a currency exchange simulation. I.E. utilizing true transfer rates and attempting to maintain the strongest value margins with the avenues for currency exchange that are available. I.E. hedging/insurance or simply trying to time the market with a little luck. I believe such a practice would be eye opening for those considering operating in the international arena.

Linking up with an international pen pal has been an interesting experience to say the least. It opened me up to the willingness of others to assist in such areas – meaning there is an endless supply of information and potential support out there if we are simply willing to look and ask for it.

I am always open to new experiences and new knowledge. A virtual internship would certainly be an interesting format to potentially learn more about an industry, operation, or new skillset. While I much prefer working with others in an office or other environment that permits face to face interaction – the world of virtual employment (and internships) is upon us. Below is an article that navigates a journalists experience with a virtual internship during the pandemic: