Driving business forces in foreign and domestic environment

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The response addresses the queries posted in 1415 words with references.

// Writing about the driving business forces in domestic and foreign environment, requires adequate knowledge about the business scenario. To analyze and identify the driving forces,, it is indispensable to have an acquaintance about the current business scenario//

Introduction

In the current business scenario, the ever-increasing use of communications and technology has narrowed down the global distances to a significant extent. Accordingly, these changes have made a defining impact on the manner in which organizations implement their business practices and remain flexible to the needs of the customers across the globe.

//Initially, the explanation of current business scenario has been provided. Moving to the next direction, explanation about the driving forces in domestic and foreign is to be thrown light upon//

Driving Forces

The driving force for any business organization is the principal factor which determines its prospects in the future markets. The constant integration of the various economies into a single business location has also increased the strength of competition in all domains of business. In fact, these forces are responsible for driving the business in both the domestic and foreign environment (Hunger & Wheelan, 2004). The most prominent driving forces operating in the domestic business environment include ((Driving Forces, 2008)):

? Products/Services offered

? Technology

? Production Capability

? Size/Growth

? Return/Profit

In addition to these forces, an organization operating in foreign countries is also driven by forces like (Driving Forces, 2008):

? Market Needs

? Method of Sale

? Method of Distribution

? Natural Resources

Products/Services Offered

It explains the products offered by the business to the future markets it serves and the manner in which it will satisfy the needs of these markets. However, the products or services offered in the future markets will be similar to the current products (services); at least in the initial phase. At the same time, the organization will continue to search for new marketplaces where the potential for its products (services) exists.

Technology

This force refers to the technological capability of the organization which is instrumental in determining the quality and nature of the products (services) offered by it. Such organizations ...