International Business Management Essay Example | Topics and Well Written Essays - 4000 words - 2

International Business Management - Essay casefule of this report to be submitted to the Directors of Paltek Company, is to bid for a contract to help Paltek implement its international scheme successfully. The report based on the companions resources and sector, will identify strategic challenges and market accounting entry options in international markets.Paltek has an annual turnover of 5 million, employing 70 people to provide specialist electrical circuit boards for clientele-to-business (B2B) markets including the military and information technology sectors. The components for manufacturing the circuit boards are procured from a number of international markets. The company plans to make do its product on an international scale, and has marketed some of its goods to the United States. Palteks new aim is to break into the Nordic markets, because the economies in Northern Europe are highly advanced. Expansion of the company into the European market would cut to be benefici al because of its great numbers of electronic manufacturers and purchasers. In this region Paltek plans to achieve economies of scale by using innovative ideas necessary to remain competitive.Presently offering their products only to United Kingdom customers, Paltek plans to spend a penny the design and manufacture facility for niche markets on an international scale. Though procuring supplies of components from Asia, Paltek does not plan to gain the Asian market to sell its products. The company however sees international activities capturing wider markets as the approach to increase the companys growth. Moreover, another reason for developing the European markets is that Paltek believes that the key to running a successful business is to be in close proximity to the customers.For a young, resource-constrained, technology-based start-up embarking on international sales, the choice of entry manner is a strategic decision of major importance (Burgel & Murray 33). The initial forei gn entry behaviour of a young firm can be of major importance in its