International Bussiness Risks

When it comes to running a business, profit is key. The bigger the market you have increases the bigger potential for profit. So it should come as no surprise when a company want’s to expand their product or brand to the international stage. When taking the steps to push their products and brands abroad, companies must be extremely cautious. If they don’t be mindful of things like the customs of certain markets, the whole plan can backfire. Another hurdle that can affect your business internationally is whether or not the government has tariffs in place.

When it comes to U.S. sports franchises and their appeal to the international audience, the U.S. has made big strides. For a majority of the world, the appeal of most U.S. sports is there. Baseball is often called “The American Pastime”, named so because of its deep roots in the U.S. That name can be misleading, because it has a massive following on the international level. Basketball is another sport that has gotten international attention. The NFL however, isn’t as strong internationally as either of the two other big U.S. sports. One reason could be that it isn’t as appealing as the other sports and branding may be a problem as well. Outside of the U.S., when a person mentions football, they usually mean soccer, which is the world’s most popular sport. When it comes to pushing a product internationally, knowing the market is a very key concept. Knowing how locals react to ads and things of that nature is the first step in the right direction. No matter how big the company, they can make mistakes and upset a culture. Take Nike for instance, the new logo on their new brand of show offended Muslims. Although the Muslim community and Nike came to an agreement that is not the type of publicity a company wants or needs. By taking proper measures to research the various markets, it helps shields companies for situations like the one Nike faced.

When it comes to importing and exporting, the government must walk a...