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BUSINESS AND COUNTRY VARIABLE ANALYSIS
A research of the market is inarguably the single most essential factor to the ultimate success and attainment of objectives to any business or establishment (Cappelli, 2015). This portion of economics and business is also among the most underrated aspects of a business. It is crucial to realize that any business must conduct a research of the market it plans to venture before it begins operations. This will increase the chances of success in the overall aim to attain the desired goals and objectives. It is essential to understand the customers that a business plans to deal with. This is done through researching variables within a country as well as the business objectives (Poynter, 2014). When the objectives of the business are in line with variables in a chosen country, then the business has a high chance of attaining success. However, this is only possible when and if the business is able to establish all of the factors that may affect or influence its operations within the chosen country where business will be conducted. For instance, it is a mistake to produce some product or service and then wait to find a market for the same. A farmer who does research first before venturing into production of some commodity is by far better off than one who produces and tries to find a market later. This is the whole essence of doing an analysis of variables in a country with regards to a business.
The purpose of this paper is to conduct a discussion of Triple Threat Bicycle Courier Services in China. The paper will look at the organizational structure of the business in relation to China as the chosen county of operations. Additionally, the paper will look at country variables in China reflecting the following; physical and demographic, cultural environment, legal and ethical environment, economic environment, trade and investment, foreign exchange and exchange rates. The above will be essential in concluding whether the business is fit to be conducted in China considering the facts and issues highlighted by the research.
Triple Threat Bicycle Courier Services is a courier services provider based in Shanghai China. The business mainly caters for law firms in the highly populated capital of the Chinese market. Triple Threat Bicycle assists in the transportation of documents, small parcels, quick notes, file documents and similar packages to clients, public offices and other law firms as well as to and from the courts. Therefore, the main target consumer for this business is the law firms that in this case will include the courts. Although other institutions may receive the services of this company, they do not fall under the main target customers. The main reason for choosing law firms (inclusive of the courts) is due to the evergreen nature of sending and receiving documents on short notice and on a daily basis. Therefore, Triple Threat Bicycle Courier Services offers scheduled transportation, unscheduled transportation and impromptu delivery and collection of vital documents to law firms in Shanghai. The delivery of documents and parcels will be conducted on bicycle using messengers who are employees of the firm.
Triple Threat Bicycle Courier Services is solely owned by Sarah Isaacs, a private entrepreneur. However, the business follows Limited Liability Company guidelines in operations. The management team offers a wide range of experience as well as training from the transport industry and management expertise. They offer this through energetic leadership and youthful vibrancy in the conduct of business at Triple Threat Bicycle Courier Services. The owner is primarily the Executive Director in charge of marketing and external affairs communication. He also couples up as a permanent member of the board of directors. Others in management include three managing directors, two senior accountants and 4 supervisors.
In order to attain the company’s set goals and objectives, a number of operational strategies have been employed. These strategies assist in the implementation and examination of efficient and effective systems and structures for utilizing resources, work process and personnel (Zhu, 2014). Since Triple Threat Bicycle Courier Services is a service oriented company, basic operational strategies will be used to connect long as well as short term business decisions thus creating an efficient management team. In light of this, Triple Threat Bicycle Courier Services uses customer driven strategies and development of core competences as the operational strategies. Customer driven approaches meet the desires and needs of clients in a chosen target market. In this endeavor, Triple Threat Bicycle Courier Services develops strategies to evaluate and acclimatize to changing business environments that consistently enhance core competencies and the development of new strengths on a regular basis. Monitoring of market trends in this business is crucial in order to exploit opportunities that may arise from the same and to b able to eliminate any potential threats. Development of core competencies is also of extreme significance to the firm. This is done through enhancing the resources and strengths available to the business. This is done through staff training, optimal location of business, good relations, agility and flexibility in meeting customer needs and financial and marketing expertise. These two essential operational strategies allow Triple Threat Bicycle Courier Services to develop customer satisfaction, creation of professional connections and sustenance of the business.
Since the initiation of economic reforms in China in the last quarter of the 20th century, the country has continued to enjoy high economic growth over the past few decades. This growth is however mainly attributed to the labor-intensive, export-oriented manufacturing services in the country. Over the past few years, the total value of exports in China has averaged about 34% of the nation’s GDP (Huang & Wang, 2011). The growth of the Chinese economy has had a huge impact to the local industries and business. For instance, Triple Threat Bicycle Courier Services has benefited greatly since more investors are flocking the country. This means that law firms and other target consumers are on the increase. This is good for the local business and the entire operations for Triple Threat Bicycle Courier Services. As the export sector employs millions in China, the local businesses are somehow favored since the export industry is very sensitive of external affairs. For instance, the recently concluded global financial crises and the United States sub-prime credit crises in 2008 left the export industry in turmoil (Liu & Agbola, 2014). Therefore, local industries and businesses that do not rely on exports are essential for the sustenance of future growth in China. This will reduce the high dependence on external markets from the West. In an attempt to gauge the viability of the Triple Threat Bicycle Courier Services in China, this section will look at country variables in China reflecting the following; physical and demographic, cultural environment, legal and ethical environment, economic environment, trade and investment, foreign exchange and exchange rates.
Physical and Demographic Variables
As the country struggles to find its place in the international marketplace, China continues to experience rapid economic expansions over the last few years. At the national level, a number of physical and demographic variables affect the conduct of business. The population size, the age structure of the population and the number of households are key in determining the success of a business. Infrastructure is highly affected by size of a population. In the Chinese context, the size of the population is extremely high. As a matter of fact, the country has the highest number of people in the whole world (Murthy & Okunade, 2014). This is an advantage for Triple Threat Bicycle Courier Services in China at some light and a disadvantage in another. For the advantage, it is rather obvious that with a high population, then the consumption is higher. This means that Triple Threat Bicycle Courier Services will have a higher chance of success. However, the disadvantage is that competition for resources and customers is also high with new business entrants every day. The number of households in a population is key in determining several factors. This number is relatively high in China meaning that demand for services is high. This is an advantage for business as it creates opportunities for more customers and service delivery. However, growth in elderly population will mean a reduced demand for the same. China has a balanced population structure; the young population ensures that labor is readily available and affordable. However, a high elderly population reduces the chances for cheap labor due to high demand for labor.
The main cultural factors affecting business in China include; ethnic and language groups, religion and cultural values. These factors are very different from other regions of the world. The main religions in china include; Islam, Taoism, Buddhism, Catholicism as well as Protestantism (Chen, Zhang, & Dickinson, 2013). The cultural values are very complicated although they somehow converge to follow the Confucius doctrine. Ethnicity and language is not as important as having the larger Chinese culture. The main disadvantage for Triple Threat Bicycle Courier Services business operations in this country is that one must first establish a relationship and adapt to the culture of the Chinese people in order to conduct business there. The advantage here is that once a business assimilates to the ways and culture of the Chinese, and then there is a fair chance of success.
Legal and Ethical Environment
Government control of businesses and policies affecting businesses is very high in China. Consequently, the legal environment is very tight in China since the government employs a protectionist policy. In relation to Triple Threat Bicycle Courier Services, a number of Legal and Ethical Environment factors may affect the business. They include; corruption, employment rights and administrative policies. Corruption is extremely high in China (Elliott, et al, 2010). This poses a huge threat to the business as ethical issues emerge every day. There are no advantages whatsoever to Triple Threat Bicycle Courier Services in this regard. Employment rights in china are fairly poor. The disadvantage to the business is that it is focused on ensuring an employee reward system. This means more cost. However, as an advantage, the basic employment rights in China are fairly low; this means that the business does not have to handle employee related issues on a management level.
The economic factors that affect Triple Threat Bicycle Courier Services business in China include; foreign direct investments, foreign exchange reserve and inflation rates. China continues to be a primary destination for the global migration in business that is referred to foreign direct investments. In China, the concept of foreign direct investments account for nearly 25% of value added production, almost 5% of the national tax revenues and nearly 55% of foreign trade (Liu & Agbola, 2014). China receives investments from nearly 200 countries from all over the world (Liu & Agbola, 2014). Foreign direct investments pose an opportunity for Triple Threat Bicycle Courier Services since it only brings in more potential customers. However, it also allows more companies pursuing the same goals and strategy to land in China thus reducing the customer base. Inflation rates cause an increase in the prices of goods and services against standard levels and the purchasing power of a client. When the prices are high, then the demand for goods and services is lower. Although the Triple Threat Bicycle Courier Services business does not necessarily get impacted by economic climates, inflation may drive away demand. As an advantage, reduced inflation will increase the demand for services as prices reduce. The nature of the Chinese economy as an export market has helped in increasing the foreign exchange reserves.
Trade and Investment issues
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