Midterm Essay Example | Topics and Well Written Essays - 750 words - 2

Midterm - Essay Example For instance, the company needs to determine; the target market, political aspects, economical aspects, beliefs and culture, and if there are any legal matters that the Company ought to familiarize with. Since, it is significant to exalt immediate reaction to a few inclinations that may be present that ought to offer the company a competitive benefit internationally. Thus, the company necessitates a strategic tactic that is in amidst the company’s preeminent interest to define how the company will successfully succeed other company in the market. Rationally, for the company to be prosperous it needs to first understand and comprehend the challenges that the company products face from other companies Comprehensive and Transnational Business The above move targets the company to identify a policy that ensures the company’s product achieve an overwhelming support from across all markets. â€Å"No society can surely be flourishing and happy of which by far the greater part of the numbers are poor and miserable.† (Baffoe-Bonnie & Mohammed, 75) The reason as to why The company should consider mining of diamonds To Intensify sales and control the diamonds market Safeguard the company future To curb the adverse risks that come a long with losses from the company’s current products The company’s goal is to acquire new market that for the company’s products within two months by requesting for appointments, induction of new social media publicizing operation and networking with homegrown business ventures. This goal will allow the company to grow and increase its revenue. However, there some geographical aspects to consider. Currently, some parts of the country suffer from poor infrastructure, adverse weather conditions like flooding and scarce energy materials for manufacturing processes. Reoccurring earthquakes and tropical weather conditions; The Company needs to fully consider and come up with strategic plans to avert the afor ementioned problem from affecting the company. The Political and Legal Environments Facing the Business The political setting of the US the most influential on earth, thus it is very stable. The two foremost political parties: Democrats and Republicans are the ones that determine the US politics. Besides, Citizens interests are competing and thus differ on the basis of their different families, their race or age. Operational concerns Starting up a business- requires registering the company name, finding licenses, authentic certifications and documentation, and insurance. Making and implementing contracts- an inclusive contract needs to be placed in the location that is a lawfully binding, what activates a breach and necessitates legal act, principles that contrast across boundaries, and debate the legal consequences basing on the legal structures of the US Employee hiring and sacking- the company prerequisites to comprehend the legal consequences that come along with labor issues. B usiness culture in the new product Culture are the arts, ideals, insolences, and beliefs and other indices of human rational achievement considered collectively. Communication language in the office is English, thus it is advantageous to the company as most employs are conversant with the English language. The companies that deal with diamonds require gem diamonds. The above diamonds are abundant in the company’s mining fields. Cultural modification issues may surface in the company The company’s products depict high quality as compared to others. Therefore, the company must