How could an Australian business expand internationally?
(A) By merging with a business operating overseas
(B) By sending management to an overseas conference
(C) By reducing costs in overseas manufacturing plants
(D) By buying overseas-made products from an Australian importer - HSC - SSCE Business Studies - Question 7 - 2009 - Paper 1
Question 7
How could an Australian business expand internationally?
(A) By merging with a business operating overseas
(B) By sending management to an overseas conference
(C) By... show full transcript
Worked Solution & Example Answer:How could an Australian business expand internationally?
(A) By merging with a business operating overseas
(B) By sending management to an overseas conference
(C) By reducing costs in overseas manufacturing plants
(D) By buying overseas-made products from an Australian importer - HSC - SSCE Business Studies - Question 7 - 2009 - Paper 1
Step 1
By merging with a business operating overseas
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Answer
Merging with a business that operates overseas is a strategic method for an Australian business to expand internationally. This approach facilitates access to new markets, resources, and local expertise, thereby enhancing competitiveness and scalability in the global arena.
Step 2
By sending management to an overseas conference
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Answer
While sending management to an overseas conference can enhance knowledge and networking opportunities, it does not directly translate to business expansion. This option focuses more on skill enhancement rather than substantial market growth.
Step 3
By reducing costs in overseas manufacturing plants
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Answer
Reducing costs in overseas manufacturing plants may improve profit margins; however, this action alone does not contribute to actual expansion. It is more about optimizing existing operations rather than expanding market presence.
Step 4
By buying overseas-made products from an Australian importer
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Answer
Buying overseas-made products from an Australian importer allows for diversification of product offerings but does not lead to direct international expansion of the business itself. This strategy primarily enhances the availability of goods in the home market.