International Business Essay Example | Topics and Well Written Essays - 500 words - 14

International Business - Essay Example Patricia focused too much on securing an international connection instead of gaining knowledge about the product which resulted in the immediate sense of failure once business meeting underwent. The initial approach of requesting information from home offices located internationally and conducting research via email is something which is commonly followed by businesses however such inquiries are usually improper and may result in irrelevant inquiries. It is, therefore, better to visit local trade offices of foreign consulates residing in the home country and seek information from them regarding businesses operating in their country. Another way of gathering information about potential targets is by accessing trade websites which provide useful information including the credibility of potential businesses. However, selection of targeted businesses should be made against the criteria based on the assessment of product or service offerings. Before conducting meeting it is important that mutual understanding is achieved between parties so that situations of despair are not faced. Biggest mistakes that business typically makes must be learned and avoided however it requires a thorough research and well-directed efforts if there is no prior experience.  Regarding Patricia business trip to Japan few major weaknesses could be identified regarding her overall understanding of the potential market and interaction with the possible business partner. Most importantly she seemed unprepared for the business trip which was made all of a sudden without any written understanding of each other’s business and products to be offered. Any such international business trip should be backed with the establishment of the business objective and an intensive study of the market which is targeted. The study of the potential market does include the survey of the market which is served by the machinery offered.