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Changes required for global business plans and analyses

Recommend any changes that would be required if a business plan/ analysis were to be used in a foreign country

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779 Words and 2 References in APA.

Recommend any changes that would be required if a business plan/ analysis were to be used in a foreign country.

In preparing a business plan, you need to be aware of the various strategic tools available for entering a new foreign market. Entry strategies range from merely making direct export sales to investing in business operations in another country.

Some changes that would be required if you were creating a business plan is a foreign country are:

Currency Rates

Currency exchange rates are the first thing that concerns most people as they consider an international-oriented business plan. Currency fluctuations can be critical in international business. Changes in currency can mean changes in your costs and expenses, your sales, and even the value of your assets and liabilities. For example, suppose you are importing handicrafts from Mexico. Your costs are mainly in Mexican pesos. When the peso trades at 3 pesos per dollar, the hand-painted bowl from Oaxaca that costs you 15 pesos per unit costs you $5 per unit. When the peso exchange rate changes and the peso drops to 5 pesos per dollar, then the same bowl costs you only $3 per unit. If you ...

Solution Summary

779 Words and 2 References in APA. Here is a small sample of what you will see: Aside from currency exchange, some international business plans must also deal with different tax and accounting practices. Still, the business plan for a U.S. company has to remain in dollars, and taxes paid outside the U.S. serve as a credit against.....

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