European Business Essay Example | Topics and Well Written Essays - 1000 words

European Business - Essay Examplealso contains all the required components to get share from this huge market. It earth-closet also expand outside the EU.The major benefit of single market is reduction in border costs. They are similar to import tariffs, be creator they also ski lift the price of exports in the foreign market. A decrease in border costs has a great and positive effect on integrating regions as a tariff reduction. It religious services in trade creation and trade diversion and changes in the terms of trade. It also affects the incentives to invest.Reduction in border costs produces a strong competition on the home market and a better competitive position on the foreign market. It also increase the cost of payoff for exports and their reduction simultaneously improves home country firms position on foreign markets and exposes them to more intense competition at home.These are some superior general benefits that keep facilitate any business looking to expand in th e EU market. But for doing specific planning it would be appropriate to undertake a general quantitative epitome of the social-economic functioning of the market, carry out a quantitative survey, undertake a qualitative analysis of the strengths and weaknesses of the market. These three steps will help in formulating strategy to specific areas of the business. For doing this analysis it is appropriate to have a detailed data on pursuance aspects.Once the reliable data i... 6. Prices shag be easily compared because of Euro.7. Reduction in non tariff barriers8. Adoption of the Common External Tariff9. No threat of fluctuating exchange rates convey to Euro.These are some general benefits that can facilitate any business looking to expand in the EU market. But for doing specific planning it would be appropriate to undertake a general quantitative analysis of the social-economic functioning of the market, carry out a quantitative survey, undertake a qualitative analysis of the streng ths and weaknesses of the market. These three steps will help in formulating strategy to specific areas of the business. For doing this analysis it is appropriate to have a detailed data on following aspects.The socio-economic role of the market in the EU context.Balance and healthy competition between the market competitors.The market role in promoting local production.Possible intragroup and external partners in accomplishing this strategy.Once the reliable data is available about above said areas. It would be easy for planners to formulate strategy for the expansion of partnership in EU single market and beyond. Besides the benefits of single market there may be some threats or hurdles that may cause problems. It is important to consider these threats before implementing the expansion strategy. These hurdles may beLack of knowledge about the demands of marketLack of coordination between the trading parties pagan or traditional differencesPurchasing power and price factor of dif ferent market within EU or outside EUAfter spillage through all these preliminaries reliable information can be gathered. This data will be greatly helpful in adopting a correct wrinkle of action. Once the planning and data collection phase is completed. It is time for taking