Significance of Social Factor that Shapes National Business Essay

Signifi cance of Social Factor that Shapes National Business - Essay ExampleAs highlighted by Grimwade (2000), this great deal has thrived over the years owing to a design of advantages it has offered various nations across the world. These advantages have monumentally benefited a number of UK short letter organizations. One of the most significant benefits of international trade to UK business organizations is in terms broadening its horizon and markets (EconomyWatch, 2010). If a business organization in the UK was to only sell their goods or function locally without pushing their goods or services to consumers in other nations, the UK would be completely limiting the potential of such business organizations. Such business organizations whitethorn more often than not be assured of a steady trade from their UK consumers, but they may not grow to their full capacity if they were affair with seven other nations, for instance. International trade is important to the UK business or ganizations as it helps the organizations in terms of increasing customer figures and sales. A significant example of a business organization in the UK that has benefited from international trade in terms of broadening its horizon and markets is Marks & Spencer. As a company within the sell industry, Marks & Spencer has about 155 stores managed under franchise in 28 regions globally due to growth in international trade (Marks & Spencer Company Website, 2012). ... to promiscuous themselves up to lowered/reduced production costs, for instance, a business organization in the manufacturing televisions UK may find out that its products could be produced at a easily less cost in a factory in Japan. This not only helps the business organization save money, but also helps the consumers as the televisions can be sold to them at a cheaper cost. Tesco, a UK supermarket brand and a firm within the retailing industry forms a good example of a company that has benefited from international busi ness. The supermarket opened up about 18 franchise stores outside the UK and has seen it and the franchisees share the cost of opening the stores as well as the consequent profits, as a result benefiting from reduced cost (Fletcher, 2010). Another significant benefit the UK business organizations accrue from international business is in terms of raw materials (EconomyWatch, 2010). If it was not for international trade, the UK wouldnt have been able to acquire or get its hand on raw materials needed to make a number of products especially within the food industry. As a colder nation, the UK depends on hotter nations for fruits such as mangoes, and the hotter nations depend on the UK for items such as potatoes. Therefore, without international business/ sparing integration of trade, the UK business organizations would have had a very scarce choice in terms of raw materials for production. Marks & Spencer as a small drug user of palm oil relies on palm oil imported from other countr ies, a benefit it has accrued as a result of expansion in international trade (Marks & Spencer Company Website, 2012). Another significant benefit accrued as a result of the expansion of international trade by the UK business organizations has been in terms of increased global