Premium Essay

Sri Lanka Subcontract Gem Company

In: Miscellaneous

Submitted By blaine
Words 814
Pages 4
Introduction
After being designated the Sri Lankan market for our assignment we began in depth research as to what areas of their economy we could exploit. After further examination we decided upon the gem industry as we saw a lot of potential to combine with an Irish company, in this case Waterford Crystal. We chose an Irish company as a result of a rising cost base and lack of raw materials for Gems in Ireland, both of which are not a problem in Sri Lanka. By combining Waterford Crystals expertise and reputation with the natural resources of Gems in Sri Lanka, we found we could exploit the growing trends in exports of gems and jewellery which is currently worth $450million but has the potential to be a billion dollar industry in the country with Waterford Crystal to the fore.

Why subcontracting in Sri Lanka?

One of the key components in our research into Sri Lanka and the possibility of moving our operations to the country depended on how the operations would be structured in the Sri Lanka and also the viability of those structures. We have decided on a process where we will subcontract our operations out to a Sri Lankan company which basically means we will supply a local company with the technology and sophisticated components to manufacture our products and export them to foreign markets under our brand Waterford Crystal. However upon choosing this process of subcontracting in Sri Lanka it is important to remember that along with many advantages, there are also many hurdles we will encounter which we will have to jump. The first hurdle in our way is the fact that crystal making is not big industry in Sri Lanka so therefore finding a partner company in Sri Lanka to work with could be difficult. As a solution I feel it would be in our best interest to build our own plant in Sri Lanka and therefore train staff in the country by bringing masters

Similar Documents

Free Essay

International Business

...Scope Interdependency is a natural phenomenon; nations, living beings and companies cannot totally depend on themselves. It is the major driving force for international business. Learning value: This chapter covers the essential aspects, 1. 2. 3. 4. 5. Definition of international business Emergence of developing nations in international business Motives of international business from companies and nations Fundamental differences between Domestic and International business Few successful organizations in Domestic & International business International business: Meaning and Scope In the post independence era, more than half-century Indian entrepreneurs concentrated on domestic operations and a surplus production was exported. The physical movement of goods, called EXPORT cannot represent International business. International business is defined as “any commercial transaction-taking place across the boundary lines of a sovereign entity”. It may take place either between countries or companies or both. Private companies involve themselves in such transactions for revenue, profit and prosperity. If governments are involved, they need to maintain their image, dependency and economic growth. Sometimes economic ties are strengthened through such transactions. These transactions include investments, physical movements of goods and services, transfer of technology and manufacturing. Today every company, whether small or large, single entity or partnership, joint stock or government...

Words: 70922 - Pages: 284

Free Essay

International Business

...globalization debate and understanding the impact of ethics on global businesses. Additionally, students will explore the evolution of international trade from past to present, with a focus on how firms and professionals can better understand today’s complex global business arena by understanding the impact of political and legal factors. The section concludes with a chapter on understanding how cultures are defined and the impact on business interactions and practices with tangible tips for negotiating across cultures. WHERE? Section two develops student knowledge about key facets of the global business environment and the key elements of trade and cooperation between nations and global organizations. Today, with increasing numbers of companies of all sizes operating internationally, no business or country can remain an island. Rather, the interconnections between countries, businesses, and institutions are inextricable. Even how we define the world is changing. No longer classified into simple and neat categories, the rapid changes within countries are redefining how global businesses think about developed, developing, and emerging markets. This section addresses the evolving nature of country classifications and helps develop a student’s ability to comprehend the rationale of how to analyze a specific country’s stage of development—rather than just memorize which countries are emerging....

Words: 239764 - Pages: 960

Premium Essay

Managing Cultura Differences

...MANAGING CULTURAL DIFFERENCES SIXTHEDITION MANAGING CULTURAL DIFFERENCES SERIES Managing Cultural Differences: Global Leadership Strategies for the 21 st Century, Sixth Edition Philip R. Harris, Ph.D., Robert T. Moran, Ph.D., Sarah V. Moran, M.A. Managing Cultural Diversity in Technical Professions Lionel Laroche, Ph.D Uniting North American Business—NAFTA Best Practices Jeffrey D. Abbot and Robert T. Moran, Ph.D. Eurodiversity: A Business Guide to Managing Differences George Simons, D.M. Global Strategic Planning: Cultural Perspectives for Profit and Non-Profit Organizations Marios I. Katsioulodes Ph.D. Competing Globally: Mastering Cross-Cultural Management and Negotiations Farid Elashmawi, Ph.D. Succeeding in Business in Eastern and Central Europe—A Guide to Cultures, Markets, and Practices Woodrow H. Sears, Ed.D. and Audrone Tamulionyte-Lentz, M.S. Intercultural Services: A Worldwide Buyer’s Guide and Sourcebook Gary M. Wederspahn, M.A. SIXTH EDITION MANAGING CULTURAL DIFFERENCES GLOBAL LEADERSHIP STRATEGIES ST FOR THE 21 CENTURY 25TH ANNIVERSARY EDITION PHILIP R. HARRIS, PH.D. ROBERT T. MORAN, PH.D. SARAH V. MORAN, M.A. JUDITH SOCCORSY Editorial Coordinator Elsevier Butterworth–Heinemann 200 Wheeler Road, Burlington, MA 01803, USA Linacre House, Jordan Hill, Oxford OX2 8DP, UK Copyright © 2004, Philip R. Harris, Robert T. Moran, Sarah V. Moran. All rights reserved. No part of this publication may be reproduced, stored in a...

Words: 229816 - Pages: 920