In the Middle East, the select country is Israel, while in the African Continent, we have Tanzania. Israel previously eliminated trade restrictions on the WTO members, where it failed to import from them. However, Israel has a trade legal policy that prevents the import of goods from those countries that do not allow Israel to export to them. Israel maintains import licenses, which are used for maintaining tariff quota administration, achieving safety, and security reasons, especially against the countries which refuse to trade with them. The tariffs are licenses last for eight years. Israel also has trade policies that protect local industries and producers. In such a case, the country imposes limits on certain volumes of products that it can import, even from the WTO members. The country focuses on minimizing the amounts of products within its territories on ensuring that the prices of the local products do not fall; to an extent, local firms making losses from their sales (Israel – Country Commercial Guide, 2020).
In the case of Tanzania, the most recent reviews on its trade policies abashed active licenses on imports and exports, with the exception of sensitive for health and security reasons. Besides, the country has gone the extra mile to impose restrictions on poultry and biotech products, which making it completely difficult to trade with other countries. All restrictions are expected to adhere to the Tanzania Revenue Authority (TRA) (Tanzania – Country Commercial Guide, 2021). The legal framework regulating international trade has adversely affected the trade relationship with other countries, leading to hindrances and unpredictable delays in the delivery of the allowed products. Both Israel and Tanzania have incurred significant losses as a result of their legal policies inhibiting international trade practices.
There are many companies with global brands that thrive in the United States but fail in one or more global markets due to legal issues. One such company is Google. It is one of the world’s major Internet giants, expanding globally and making the market completely dependent on it. However, due to censorship issues, the company has been banned in China. Baidu is a local internet company that has gained a large user base in China by ensuring that it provides all kinds of information including pirated information.
In 2020, the “Global Times” published an article explaining why China is angry with the United States for banning its technology industry, while China is on the front line of banning the US technology industry. Google decided to leave the Chinese market in 2010 due to the demanding copyright regulations where the company should provide all kinds of information. Although they have complied with the regulations, Google believes that these regulations violate their policies (Times, 2020). Before they left, there was a legal issue. The government claimed that Google had not yet complied with its oppressive censorship policy. Google believes that its main goal is to provide users with information.
In summary, some companies feel that their foreign policies are harsh and sometimes take drastic actions. Just like Google, many companies have withdrawn from foreign markets based on unfriendly policies and legal requirements. China is one of the countries with very unfriendly information policies. These policies discourage technology companies such as Google and Facebook. The communist nature of the people and the government can also lead to policy conflicts, which may discourage investors.
What questions do you have about the overarching Unit 5 assignment? Although it is not due until the end of the class, it is important that you begin planning for this project early in the course. What are your initial thoughts about how you will approach this assignment? Explain.
Well if we talk about the unit 5 assignment then my thoughts are clear and my expectations are also good because whenever you do new things you learn from it, so I am happy that I am going to learn new things and when you start doing group projects then you must have the communication skills so your skills show your talent level and your work show your performances and as I had worked a lot of different projects but this time this project is somehow different and its quite interesting to understand and learn new things and I am willing to learn new things. When you perform a group project then there is many good and bad aspects as well because sometime your thoughts does not meet and some time you have a lazy member so it’s quite interesting but as well as a challenging project, but if you are willing to do with good deed and with a great communication skill then you accomplish it on time.
When I got my project then I start my working on same day because I don’t want to lose it and don’t want to take stress because when you take stress then you cannot do work properly and you cannot concentrate on your project, so without lacking and wasting of time I will start my project work and I will communicate to my project members and we divide our work so when we start work on time then we all remain on same page and we will accomplish our project on time.
What are the most important elements of a Business Plan? Why?
Every element is important in business plan but according to me the most important is executive summary because an executive summary tells investors why your business will be successful in very few words, it tells us about mission and vision statement of the company and the financial seeking for the investors. The other most important elements are product description or company description, market analysis, competitive analysis, description of management and organization, breakdown of your product and services, marketing plan, sales strategy, and financial projection. These all are important elements of business plan, they all are important because if you not include one of them then your business plan is incomplete and all these elements show strong competitive business plan. So investors can easily understand your plan and make investment with you and it will help you for future growth.
What other elements should be added to the Business Plan to encourage potential investors?
According to me funding should be added because when investors see them then they are encourage to invest in your business. Because in that part we explain that what we have and what we need and how much it gives us and investor benefits. So when investor read this and understand then they will invest in our business and it will help us to grow more in future.
How important is accurate financial data to the Business Plan? Why?
This is the most important part because when you exactly know the financial data then you will invest according to that, and you need to know all the expenses and returns and receivables because financial data help you in future investment and growth and tells you how much you earn in profit and how much you have to do spent on new investments.
Good evening class,
In this discussion post, I will address the third and the fourth question.
3.What other elements should be added to the Business Plan to encourage potential investors?
The basic outline of a solid Business Plan already includes: Company History/Background, the Market and Business Opportunity, Competition, Customers, Sales and Marketing Strategies, Products and Services, Finances and Sources of Funding, and Future planning.
All of these elements are going to draw in new potential investors, because it provides them with the information they need to know and understand, but an element that could really be emphasized is the “WHY.” The factual information is very important, but a business plan needs a little spice thrown into the mix so that the potential investor can see that this business plan is like no other. There are many different strategies you can use to encourage potential investors. Show up, know your information, be confident, and state the WHY. Why is this business plan being presented, and why do you not want to miss out on this business opportunity?
4.How important is accurate financial data to the Business Plan? Why?
Very important! It is not just important to the Business Plan, but the entire present and future of the organization. Accurate financial data statistics are going to allow managers and board members to make important business decisions. How much can the organization advance, and how much room do we have for improvement? Not many changes or business opportunities can happen without money. Accurate financial data will allows investors to see what “shape” the organization is currently in. What are their revenues, expenses, profits, and debt. All of this information is crucial when trying to present a new Business Plan to potential investors. If you provide false data, that could lead to legal and trust issues.