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Research of Business

Thanks to rapid globalization, international business has seen exponential growth in recent years. Individuals who live in one area can conduct meaningful trade and investments with people from all over the world through this form of business (Wild, Wild, & Han, 2014). Entrepreneurs have extended their companies to other regions and exploited areas that were previously unexplored, such as Africa, in the last decade. The main driver of investing in a given region is the potential for business growth. As a result, most foreign companies must weigh a number of factors, including government policies in the regions they intend to visit, political and social factors, and the potential for business expansion. This paper explores the different types of writings utilized in international business and examines the various employment opportunities in this field. The discussion will also entail a memo that will present the findings of an interview in which a professional in the field of international business was the interviewee.
Types of Writing in International Business
The field of international business can be associated with different kinds of writings. Business reports cover different topics such as marketing plans, feasibility studies, sales figures, safety compliance and financial data (Hutchins, 2015). Most of these reports contain graphs, statistics, case studies, images, survey results, and charts. However, these documents may require interpretation from experts in the field of finance and business. Letters are also important forms of writing used in international business. These documents can be represented through recommendations and proposals. The recipients of these letters may be the customers, private and government organizations, service providers or business partners.
Financial resources are critical in global firms around the world. These businesses need funding to run their operations (Bryman, & Bell, 2015). As such, many firms utilize grant writing to apply for funding from major banks and other stakeholders. Reproducing a grant proposal is a tedious task that requires professionals with staunch knowledge in business proposal writing to analyze and evaluate the contents of these documents. Most organizations take grant writing seriously due to the seriousness of the tasks that it serves. As such, only a few individuals on the board of management are concerned with this type of writing.
Lastly, business proposals are written documents sent to a potential client that shows the different aspects of a given venture (Sentana, González, Gascó, & LLopis, 2017). In international companies, these documents serve a great purpose as they provide direction on a given course of action. A good proposal may entail the various risks of venturing in a given field and give the different escape routes of techniques. A business proposal also entails a budget that includes grants and the amount of monetary resources that will cater for it. In a nutshell, the proposal is the most important form of business writing utilized by global corporations.
Employment Opportunities in International Business
The firms that take advantage of globalization and exploit the benefits that come with international business before exploring their options and determining the best business that can be sustained in a given area thrive in any environment (Wild et al., 2014). Several other professionals work concurrently with project managers to ensure that global firms thrive in their scopes of operations. These individuals include economists, financial analysts, trade specialists, marketers, foreign service officers, product managers, import and export coordinators, Consultant Foreign Exchange Trader, and stock brokers. Lawyer marketing managers, advertising executives, public relations officers, project managers and human capital managers form the management boards of many global firms.
The Role of Project Managers in Promoting and Expanding International Businesses
Global companies have different projects being undertaken in various regions at the same time. Consequently, these firms employ many project managers and appoint a head to oversee all the projects (Turner, 2014). The chief project managers are the key players of board meetings and have to advise the entire management on the reasons why particular problems are important and why some operations must be given priority over others. For example, when establishing a business in Africa, the project manager must first visit the different countries in this continent to explore the most profitable regions to set up their projects.
The estimation of the resources that can be awarded to a given project must be approved before any disbursement. Together with the finance and HR departments of global businesses, project manager provides resource estimates to the board for further scrutiny. The finance department acts speedily in ensuring that the financial resources are allocated appropriately while the HR managers must ensure that there are sufficient personnel who will make sure that the projects are completed on time. The project managers also highlight on the nature of human resources needed (Turner, 2014). The residents of a given country or region where the business operates must be given priority when selecting the human resources to avoid both internal and external conflicts.
Another key role of project managers in international firms is the provision of time estimates and the potential risks of the project. These professionals must conduct thorough research on the various business and environmental risks that may interfere with the operation of businesses in different regions. Secondly, experiences a critical role in the provision of time estimates. The project manager can use a prior project to give the time estimates for the present plan. Time and resource estimates go hand in hand. Therefore, these professionals work with other departments to assess their needs and expectations on the project before giving the time estimates as the main purpose of projects in international firms are to satisfy the needs of both the stakeholders (Turner, 2014).
Team building forms an essential pillar for most organizations. International businesses advocate for solid teams as these groups are responsible for the high-profit margins witnessed in these institutions. The project manager of a global firm is charged with the difficult task of submitting the qualities of the team members required for a given project and ensuring that they promote unity in these firms (Turner, 2014). The most tedious task is motivating the team members and ensuring that they provide their best when handling projects.
Lastly, the project manager is responsible for both stakeholder and provider management before closing a global business undertaking (Turner, 2014). International firms have several interested parties in the different countries of operation. These stakeholders have various expectations of the business and the projects associated with these firms. However, there are different responsibilities that these important members of the company have to undertake to ensure the smooth running of the projects or operations of the global businesses. Therefore, the project managers have to make sure that they manage all these stakeholders to ensure that they all contribute to the successful completion of a given project. The final task that a project manager should perform in a given undertaking is to close a completed project and monitor its progress. The commencement of a project is not as demanding as its completion. The financial, environmental, and legal elements must be well-observed before the project can be put to a close.
The crucial tasks that project managers undertake are the key reasons for their value in organizations. Global businesses ensure that they place these professionals at the core of their operations and decision making teams. In many firms, project managers double up as operation managers due to the combination of skills that they possess. The huge paychecks received by these managers is a reflection of the recommendable jobs that they perform in international firms.

MEMO
TO:
FROM:
DATE: April 7, 2017
SUBJECT: Interview Responses
The interviewee for this exercise was Albert McGinn. Albert is the serving VP of one of the world’s leading online cloth stores. This individual is also the country’s project manager and mainly talked about the project management professionals in international business and their roles. Albert first talked about the role of technology in promoting the growth of international businesses.
Technology has also played a critical role in enhancing the mannerisms in which international business is conducted. The size of the globe has been minimized by the various types of technology making the access thereby minimizing the operational costs of many global businesses. Improved communication is also a key benefit that can be attributed to technology. Companies that operate globally can now communicate the different technological gadgets. The relevance of proper communique is manifest in most thriving businesses. These firms use emails, websites, texting platform and the social media to saturate the market with messages regarding their products. Technology has also provided a promise for expanding the scope of various businesses that operate globally. After venturing into new markets, international firms can now utilize technology to assess and evaluate different options. Consequently, some firms may realize their goods that complement the products that they currently deal with and expand their scope. Lastly, international business has greatly been improved by technology in that business explorations, and considerations can be done. Business technology allows international firms to weigh options of exploring the environments that they operate in and outsourcing business functions and staff. Outsourcing is crucial in that it can allow firms to lower their costs and concentrate on other business operations. All these transactions and promises of international business are handled by a single professional who is the project manager.
Albert stated that project managers are some of the most paid professionals around the globe. According to this H&M VP, the high salaries received by these individuals is due to the bulk of the work that these persons are charged with. Project management in itself refers to the act of overseeing the implementation of a given plan. International businesses comprise of projects of large magnitudes, and the managers of these undertakings are charged with the responsibilities of planning, evaluating different aspects within the project, procurement, execution, and the monitoring of a given task in their domains. These individuals are capable of getting firsthand information regarding the projects that they oversee before the other members of the board. Consequently, international organizations value the presence of these highly-trained professionals and invest heavily on the salaries due to the excellent job that they undertake.
Thanks for your Concentration

References
Bryman, A., & Bell, E. (2015). Business research methods. New York: Oxford University Press, USA.
Hutchins, T. D. (2015). A New Approach To Teaching Business Writing: Writing Across The Core-A Document Based Curriculum. American Journal of Business Education (Online), 8(2), 131.
Sentana, E., González, R., Gascó, J., & LLopis, J. (2017). The social profitability of business incubators: a measurement proposal. Entrepreneurship & Regional Development, 29(1-2), 116-136.
Turner, J. R. (2014). The handbook of project-based management (Vol. 92). New York, NY: McGraw-hill.
Wild, J., Wild, K. L., & Han, J. C. (2014). International business. New York: Pearson Education Limited.

September 21, 2021

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