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Labor influences vary from labor quality, quantity, labor unions, labor markets labor mobility and minorities. All these affect the international market differently. The quantity and quality of labor force are of great importance in the international business due to the profitability, efficacy and competition the employers should uphold and depict. Many countries want to purchase labor as cheaply as possible and also maximizing on the quality. Consequently, factors such as adaptability especially to new environments, managerial skills, ability to learn new things, and knowledge are highly considered when hiring candidates (Ball, 2006).
Labor quality can be termed as education, skills, and attitudes of potential employees which vary with regions and countries. It's an essential aspect and component to be considered in the planning stage. It should be considered to ensure that the right skill level is available to conduct business gainfully. In developing and poverty stricken areas where education and globalization lacks, labor quality suffer. Labor value leads to the importance of labor quantity. Labor quantity is the number of potential employees available who posses the necessary skills to be efficient and productive. Labor quantity is an aspect of international business that can have either positive or negative influence. Lack of information on labor quantity leaves international business without a competitive edge and paying high wages to the only available skilled workers (Ball, 2006).
Countries with high numbers of educated and qualified employees hire qualified and skilled people at lower wages. For countries with limited number of qualified employees, companies are forced to pay higher wages to employ qualified employees. Discrepancies in labor amount highly influence and determine the production counts, management levels, wage scales and effect training cost. In international business quality and quantity of labor should be considered when determining how competitive and profitable the business will become in the market. Labor mobility refers to the transfer of educated and qualified workers from one country to another in search of employment in a flourishing economy. It consists of position change of employees across a set of jobs and also physical space. It allows improvement of economic conditions of the workers if they live in an environment that does not match their skills (Ball, 2006).
When the telecommunications industry branches out into the global world they are often affected by the socio cultural forces that are brought about by the cultural differences that often exist in foreign markets. A company must be prepared to deal with the differences in the way that they do business and in the products and services that they offer up for sale. Cultural differences can affect the products that are being sold as well as the employees that a company employees in their day-to-day operations.
Political and legal forces include the outcomes of elections, legislation, and court judgments, as well as the decisions provided by various commissions and agencies. The political segment of the environment presents actual and possible restriction on the way an organization functions. Among the most significant government actions are: regulation, taxation, expenditure, takeover and privatization. The distinctions among local, national, and international subsectors of the political environment are often quite spectacular. Political instability in some areas makes the very form of government subject to revolutionary changes (Aswathappa, 2008).
In addition the basic system of government and the laws the system spreads, the political environment might contain such issues as monitoring government policy toward income tax, relative influence of unions, and policies concerning utilization of natural resources.
Political activity may also have important impacts on three additional governmental functions influencing a firm's external environment in things like:
Supplier function - Government decisions in regards to creation and accessibility of private businesses to government-owned natural possessions and national stockpiles of agricultural products will deeply affect the viability of some firm's strategies.
Customer function - Government claim for products and services can create, sustain, enhance, or eliminate many market chances.
Competitor function - The government can operate as an almost unbeatable competitor in the marketplace, therefore, knowledge of government strategies can help a firm to stay away from unfavorable arguments with government as a competitor (Aswathappa, 2008).
There are many instances where Verizon is affected by the rules and regulations that are set down by the countries in which they are trying to do business. An example of this is the fact that Verizon Business, a unit of U.S. communications service provider Verizon Communications, has applied for a license to provide international long-distance services in India. The move reflects Verizon's recognition of the growth potential of Asian markets, Verizon Business said Wednesday (Ribeiro, 2007).
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"International Verizon Drivers Of Globalization" (2010, August 16) Retrieved October 28, 2016, from http://www.paperdue.com/essay/international-verizon-drivers-of-globalization-8992
"International Verizon Drivers Of Globalization" 16 August 2010. Web.28 October. 2016. <http://www.paperdue.com/essay/international-verizon-drivers-of-globalization-8992>
"International Verizon Drivers Of Globalization", 16 August 2010, Accessed.28 October. 2016, http://www.paperdue.com/essay/international-verizon-drivers-of-globalization-8992
China fixes the rate of its yuan to the dollar on a pegged float, where the float is minimal. This policy results in Chinese exports being underpriced, making them attractive in world markets (Dunaway, 2010). Two impacts of this policy are a strong export sector and a weak import sector, as foreign goods are very expensive in China. While China's economy is growing rapidly, the currency policy also facilitates
FedEx was founded by Fred Smith after his tour in Vietnam, and he continues to run the company today, as the only CEO that FedEx has ever known. The company began by offering overnight courier services, an industry that to that point had not existed. Today, that unit is known as FedEx Express and it is still the largest in the company. There are competitors, however, mostly notably UPS, DHL