International Business Entrepreneurial Theory of the Multinational En

Question: Discuss about theInternational Businessfor Entrepreneurial Theory of the Multinational Enterprise. Answer: Introduction Patricia being a fresh graduate from a business school could have done something more to develop or build the international relationship of Unlimited Combines with other companies and increase their sale in the global market. Conducting a survey on the Japanese firm, before visiting the place could have been an important step (Teece). This would have given Patricia more information about the company and would have lead to a smooth business transaction. A thorough study of the Japanese environment could have been done by Patricia to understand the requirements of the Japanese people and this would have eventually helped her to implement a better business strategy. Proper planning and management of all these factors would have helped Patricia to increase the sale of the Unlimited Combines. While the Japanese firm was willing to have a long-term payment relationship with Unlimited Combines, Patricia opted for paying money in advance, which did not prove to be quite conducive for the gro wth of the company. Patricia could have accepted the suggestion of technical training but she did not adhere to the suggestion in order to evade the risk of any legal issue. Patricia could also have given a provision to the Japanese firm to use her brochure and translate that in other languages but Patricia did not provide them with the brochure, which created a negative business relation between them. These small things Patricia could have done in order to develop her companys international relationship and sale. Patricia could have systematically chalked out her trip to Japan. Patricia could have arranged and pre-planned her trip to avoid the problems that she faced upon her arrival. She could have done a research on Japan and the place she is visiting to avoid any inconvenience (Verbeke). However, upon her arrival in Japan Patricia understood that language is a great problem and that nobody converses in English. She could have taken an interpreter with her for better business communication in Japan. Patricia could have done a detailed study of the Japanese culture and religious beliefs to better understand their working policy. Patience is also an important aspect of international business and Patricia was quite hasty in her decisions. Patricia said no to all the proposals or demands made by the Japanese firm. To make the business trip more successful, Patricia could have taken a senior manager with her to assist her in giving her some valuable business tips. Patricia faced language problem in Japan, for which Patricia could have taken help from the Translators of Japan, but she did not find it necessary and because of this, she in a way made the Japanese firm or organization feel uncomfortable. For making, the trip a successful one, Patricia could also have taken some presents or gifts just like the Japanese organization to initiate a warm business relationship between the two organizations. Patricia could have arranged of several meeting sessions with the Japanese firm to make them understand the benefits of the association or collaboration between the two companies and the profitability of such association. Reference: Teece, David J. "A dynamic capabilities-based entrepreneurial theory of the multinational enterprise."Journal of International Business Studies45.1 (2014): 8-37. Verbeke, Alain.International business strategy. Cambridge University Press, 2013.