Saturday, March 14, 2020

Challenges Inherent in Repositioning a Fast Food Chain

Challenges Inherent in Repositioning a Fast Food Chain Introduction Repositioning is considered to be a very important process for any business because it involves a number of significant elements from the marketing sphere. The basics of repositioning touch upon such steps like product identity, its possible changes, relatives among the competing products, and evaluation of the opinions from the target market.Advertising We will write a custom report sample on Challenges Inherent in Repositioning a Fast Food Chain specifically for you for only $16.05 $11/page Learn More A careful and successfully carried out repositioning process can benefit the company in a very great way. While trying to reposition fast-food food, there are a number of challenges involved: highly incurred costs, hardly evaluated opinions, constant demand of products. Much money has to be spent during the repositioning process, and, in a period of financial crisis, as is the current situation, it is very important to come up with some cost-effe ctive strategies to succeed in the chosen process. The company should be fully aware of the new position that seeks to be established because a great amount of losses is possible and inabilities to recover from the crisis within a short period of time prevent proper development of activities. As a result of repositioning, the quality of the products has to be improved, the competing abilities may become stronger, and the fast food organization under analysis is able to define its weak and strong sides. Discussion Importance of SWOT analysis in repositioning To come up with an appropriate up-to-date Subway product line, it is important to carry out a SWOT analysis so that it will be easy to define several appropriate strategies on how to advertise and improve the product. A SWOT analysis is very important in the repositioning process. However, the macro trends are also important and help to determine the best approach to use in as far as repositioning and advertising are concerned. B ased on the SWOT analysis, it is apparent that there are several gaps that need to be put into consideration. While trying to update the product line and advertising of Subway, it is necessary to note that the current macro trends which are characterized by a great economic recession and improved technology (Bedekar, 2009). Unfortunately, due to the current economic crisis, it is not recommendable for the organization to address all the gaps involved. Under the conditions formed, the company should focus on how to maintain its customers as it continues to draw more from its competitors. The only way of doing this would be to make necessary improvements on the product and passing on information about the product. To achieve the purposes set, it is more reasonable to improve the chains of fast food, and to set the value of the products at affordable prices. Marketing strategy to be adopted by the Subway fast food chain based on the SWOT analysis Using up-to-date technology. An appropr iate marketing strategy is what any fast food chain needs to update: its product line as well as its advertising in light of the current macro trend has to undergo a number of changes. The best way of how an organization may update its product line is the method of improving its product decoration.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As obtained from the SWOT analysis, the company’s decoration was perceived to be outdated when compared with its competitors. The appearance of a product is what most customers use to decipher if the product is really worth buying in such times of financial difficulty. Up-to-date decoration of franchise. Currently, e-commerce has brought many changes with regard to marketing. The Subway should therefore us this new technology to do its marketing. While using e-commerce to market products, appearance of the product is very important , therefore the organization should improve its delivery of products with regard to decoration as well as the means of transmitting information (Hooley, Piercy, Nicoulaud, 2008). Fast food production line is the second largest fast-food chain in the world. Nowadays, under the currently developed technologies, it would be only appropriate if such a prestigious company was up-to-date with the on goings in regard to the macro trends. Recent studies show that the fast food representatives tried to reposition its product lines in relation to healthy and taste products. In the Figure One, comparison of the products of different fast food restaurants proves that Subway takes leading positions in the production of healthier and less calorie sandwiches. Each company seeks to present appropriate production improved in accordance with the same parameters. Therefore, it would be very important for the fast food chain to reposition its product line while putting into focus the frame of referenc e and the associated points of parity. Efficient services in delivery. The product and associated mode of delivery have to be taken into consideration as well. When the time to product or service delivery comes, an entrepreneur has to be ready to ensure the quality of a product and prove that it goes hand in hand with its appearance. The Subway is recognized to have the healthiest products of all the other fast food chains. With the help of the Figure Two, it is possible to find out what sort of components are inherent to the production under consideration, for example, for their Roast Beefs. Though a number of calories exceed the number of other useful elements, the ratio of harmful and healthy elements is better than in other organizations. However, its dà ©cor and service delivery system are not up to standards. The Subway therefore should consider quality products as its frame of reference while other factors like appearance, decoration, and the commitment of efficient service delivery should be the main points of parity. The fast food chain can decide to make delivery of a tasteful health sandwich, burger, or any other product the consumer may choose at their place of choice and convenience (Keller, Sternthal, Tybout, 2002).Advertising We will write a custom report sample on Challenges Inherent in Repositioning a Fast Food Chain specifically for you for only $16.05 $11/page Learn More Frequent communication with customers. The fast food chain should use updated technology with regard to Face Book, Twitter, Yahoo, and other related websites which have the youth as the main target because of their unbelievable passion to fast food restaurants and the services available. The Internet is the best media channel by means of which the fast food chain may develop its business. Through the Internet, the fast food chain will target a larger market share. In times of financial crisis, as evident in the current macro trends, constant commu nication and information transformation between the customers and sellers is very important. This is because information is very powerful at such times as opposed to commercial images. E-commerce is the best option to use during the processes of sending messages as opposed to delivery through post so as to save on cost and time (Prescott, 2002). Given the current economic recession, it is obvious that customers have also changed their preferences in regard to the way of how their money could be spent. The Subway fast food chain should make best use of the financial crisis to increase its market share. During an economic recession, consumers will not opt to spend more; therefore the most prudent way of handling this change in behaviour would be to reduce costs and prices of the products. According to Hooley (2008), an increase in marketing expenses does not lead to loss but does lead to the considerable gain with more profits. In addition, the market share increases. It is very impor tant for the fast food chain as it is still struggling to establish a steady customer base as opposed to its competitors (Hooley, Piercy, Nicoulaud, 2008). Current macro trends. The current macro trend of economic recession is associated with a change in advertising. It is very important to understand the behaviour change of customers. During a financial crisis, a customer will be more inclined to information instead of imaginary commercials. Therefore, the mode of advertising changes to one that is assuring and convincing enough as to build trust and confidence within the customer. This is because, during the financial crisis, the customer is in considerable need of a commodity and company that he or she can trust (Ferrell, Hartline, 2002).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In spite of the fact that promotion costs should not change, it is important to come up with commendable ways to promote the products. In such economic hard times, the customer is interested in obtaining the best value for his or her money (Tudor Silvia, 2009). Conclusion A repositioning is an obligatory process that has to be taken by any business organization in a prudent manner. The Subway product line needs to be updated with regard to quality products as the frame of reference with decoration and appearance as well as commitment in service as points of parity. In times of financial crisis as is with the current macro trend, building a good relationship with customers is very important. As a result, the market shares of the business is widened in the way that, even after the downturn, the market shares will still be large and in huge demand among potential customers. References Bedekar, VN 2009, Service Management. Microsoft PowerPoint presentation. Web. Ferrell, OC Hartline, MD 2002, Marketing Strategy, 4th Edition, Thomson South- Western, United States of America. Hooley, G, Piercy, N Nicoulaud, B 2008, Marketing Strategy and Competitive Positioning, 4th Ed, Pearson Education Limited, Harlow. Keller, KL, Sternthal, B Tybout, A 2002, Three Questions you need to ask about your Brand, Harvard Business Review, Harvard. Prescott, AC 2002, â€Å"Marriott Redefines the Shared Services Model†. Outlook, 1, 88-89. Tudor, N Silvia, P 2009, Marketing Strategies used in Crisis-Study Case, viewed on https://mpra.ub.uni-muenchen.de/17743/1/MPRA_paper_17743.pdf Appendix Figure One: Sandwiches in Different Restaurants Compared Fast Food Restaurant Size of a Sandwich Calories Total Fat Saturate Fat McDonald’s 147 360 16 3.5 Subway 238 310 5 1.5 Hardee’s 250 370 21 7 Burger King 144 480 31 5 Jack in the Box 266 530 28 7 acaloriecounter.com/fast-food.php Figure Two: Components of a Subway Roast Beef

Wednesday, February 26, 2020

Porter's Five Forces Model Essay Example | Topics and Well Written Essays - 1250 words

Porter's Five Forces Model - Essay Example Even though we have better expertise in managing our hospitality business, banking is entirely a new business segment for us. So, before entering banking industry, it is necessary for us to analyze our business prospects in banking industry based on Porter’s five forces model. My organization’s management asked me to prepare a report about our business prospects in banking industry. This report analyses the strengths and weaknesses of our organization in doing banking business based on Porter’s Five Forces model. Banking industry and Porter’s Five Forces model According to Michael Porter, there are five competitive forces that may affect any organization doing business in any sector. These five forces are; Threat of substitute products, Threat of new entrants, Intense rivalry among existing players, Bargaining power of suppliers and Bargaining power of Buyers (Porter’s Five Forces Model, 2009). The figure given in the next page explains Porterâ€⠄¢s five forces theory. (Porter’s Five Forces Model, 2009) Even though our organization has a good brand value in the market, it should be noted that our brand value is in hospitality industry alone. ... In other words, competition in British banking industry is going to be toughened because of the potential entrants from overseas countries. The threats from substitute products are also growing day by day against banking industry all over the world and British banking industry is also not an exception. Substitute products are products which are entirely different from banking products, but capable of providing alternative options to the customers. For example, products such as mutual funds, insurance and term deposits are currently offered by many non-banking institutions. These non-banking institutions are offering attractive terms and conditions to the customers so that many of the customers are currently approaching these institutions for baking purposes. In short, the threat for banking industry is currently coming not only from the banking sector, but also from outside as well. Rivalry or competition is not a good market condition most of the firms like to have. In fact all the business firms like to establish monopoly in the market in order to control the price mechanisms. Monopoly is a market condition in which a single firm controls the entire market. Banking industry can never establish a monopoly in Britain because of the huge number of banking service providers in the market. In fact, banking is an industry in which rivalry exists at its best. Many new generation banks are currently raising stiff challenges to traditional public and private sector banks in Britain. Recent recession has destroyed the financial back bone of many of the prominent banks. Many prominent banks such as Lehman Brothers, bank of America were forced to close down and many others are struggling to stay in the market.

Monday, February 10, 2020

A Road Not Taken Poetry Explication Essay Example | Topics and Well Written Essays - 750 words

A Road Not Taken Poetry Explication - Essay Example Then in November 8, 1894, The Independent newspaper of New York published his first ever professional poem. In 1985, Frost married his long time girlfriend and fiancee Elinor Miriam White. She proved to be a significant inspiration in Frosts poetry until her death in 1938. The couple had moved to Britain in 1912 after a failure of their New Hampshire farm. It was there that Frost met other modern day poets as Rupert Brooke, Robert Graves and Edward Thomas who inspired and motivated him. While there, Frost also found friendship in poet Ezra pound who contributed to the promotion and publication of Frost’s work. At the time, of his return to the United States in 1915 Frost had published two full collections, North of Boston and A Boy’s will which had established his reputation as a re-known poet. Frost went on to become the most celebrated poet in America increasing his fame and honors with each new book. Though his work was some-what of traditional form and by principle associated with life of New England, Frost is merely a neither minor nor regional poet. The author of mystical and often searching themes, Frost is a modern poet in how he adhered to language and the complexity of his work through its layers of irony and ambiguity. Until his death in Boston on January 29, 1963, Robert Frost taught and lived in Massachusetts and Vermont for years. The road not taken is a metaphorical poem relating to the period and the amount of consideration it takes an individual to make a momentous decision. In reference to Frost’s biography, he made decisions that turned his life around totally. In the poem, the road not taken uses the path as a general metaphor for his life. He starts. â€Å" Two roads diverge in a yellow wood†(Line 1) Here Frost introduces the metaphorical two roads which are primary to the poem. â€Å"And sorry I could not travel both And be one traveler, long there I stood.† (Lines 2 and 3)According to the phrase Frost is trying to explain to us that we find ourselves in situations where necessity dictates it for us to make decisions. Where we have to choose this over the other, some of us spend quite a substantial amount of time deliberating over things, trying to trying to identify the best decision. Robert himself at one point in life made the decision to quit Harvard. He went to live on his farm with his wife to concentrate more on his poetry writing. In the process of making this decision, he must have deliberated on what is best for him and what makes him happy. In this stanza of the poem, Robert Frost writes that he is at a crossroad where he has to choose which way he was going to embark on, to continue with his journey. Day after day we find ourselves in situations where we need to make choices. Some involve little things others might change our lives wholly, thus the need to take our time to think about what would be the decision in relation to our lives. This stanza aptly explains this ph enomenon, since Frost describes how he is at that intersection for a long while trying to decide which path would serve him best. When we look at the second stanza Frost also writes â€Å"Then took the other, as just as fair.† (Line 1) Frost explains how he gave both paths an equal amount of thought and concentration. Frost continues to explain his actions by asserting that one should not look at his or her choices without carefully thinking things over.

Thursday, January 30, 2020

Race and the Sociological Imagination Essay Example for Free

Race and the Sociological Imagination Essay For generations African Americans have been disadvantaged in America and effects of these injustices have made a lasting impression. Education is one of the leading problems in the black community. Though there have many reforms in education over the years, racial injustices still exist because no attention in placed on how legislature affects people of color. I was raised in a middle-class family of educators. My entire life I’ve been told to â€Å"stay in school, get an education, and work hard so that you can beat the system. † Recognizing the structural forces in my life has helped me understand my place in society. Being able to â€Å"understand everyday life, not through personal circumstances but through the broader historical forces that structure and direct it† (Desmond and Emirbayer 43) has really had an impact on me. My father was born in 1968, the year we consider then end of the civil rights movement. He went to Luscher Elementary during the 70s and at that time the school was integrated. He had mostly White teachers and schoolmates. He received a quality education because of the resources given to whites were now available to blacks. He chose to attend St. Augustine High school. The Archdiocese of New Orleans constructed St. Augustine High School with funds solicited from Catholics of the Archdiocese through the Youth Progress Program. The Archdiocese of New Orleans placed the school under the patronage of St. Augustine of Hippo, a preeminent Christian and scholar of Africa, and a Father of the Church. This was appropriate since from its inception the school was designated for the education of young men from Black Catholic families of New Orleans. St. Augustine High School led the way in battling segregation in New Orleans. The successful legal challenges mounted by the school resulted in the de-segregation of the high school athletics in the state of Louisiana. The famed Marching 100 was the first African-American high school band to march in the Rex parade on Mardi Gras Day. My grandfather and father attended St. Augustine High School and through the education they received along with athletic scholarships and financial aide they both went on to attend Loyola University. My position in society was shaped by my economic position, which was an effect of my grandfather and father’s educations. My grandfather was able to attend college but this was not true for his parents. Depending upon a persons situation social welfare programs can either enforce progression or plateau disadvantages. I was able to attend Isidore Newman School and I lived in an integrated neighborhood where resources such as schools, hospitals, parks and grocery stores were better than those in other parts of New Orleans. My integrated neighborhood provided me with a good education. Blacks in poor neighborhoods are inhibited from achieving the same education as whites because of zoning legislation, transportation and lack of funds. My family was able to establish themselves financially because of social welfare programs such as war bonds, Pell grants, and the integration of schools. My grandfather was able to own their own home and provide for our family. He had a career as a school administrator they paid well. He provided opportunities for his children to attend college and for his wife. Desmond and Emirbayer argue that , â€Å"If we hope to drive racial domination from the gates of our schools we must continue the work of confronting whiteness in the curriculum† (346). I understand that as finding ways to end institutional racism and raising awareness of ideologies that will end prejudices. Until I attended Loyola I had a naive impression of racial awareness. Personally, I believe education is the key to combating racism. We must education our peers on our cultures. We must explain that â€Å"colorblindness† in society is not what’s best. Only by embracing and recognizing each other differences we will be able to break the social bubbles we live in. I’ve gained a stronger sense of racial awareness through this course. I have the ability to challenge and change other people’s ideologies and understand my own. I know because of my social position have scholarships, financial aide and the values of hard work and education instilled in me by my parents and grandparents. I’m also aware that many people are not able to gain that same access. Because of my racial awareness there is so much more I want to find out about the contributing factors that led to my family’s social position in New Orleans. It is through my racial awareness I plan to beat the system.

Wednesday, January 22, 2020

The Needle Treatment Essay examples -- Biology Essays Research Papers

The Needle Treatment Acupuncture is an ancient Chinese method of "encouraging the body to promote natural healing and improve bodily function" (1) that dates back as far as 4,700 years ago. Now for the past 25 years it has appeared in the U.S. as a popular form of alternative medicine, and it is "a licensed and regulated HealthCare profession in about half the states in the U.S." (3). It is most often called upon for problems such as lower back pain, migraines, arthritis, and additional non-fatal aches and pains. Some people say it works, others are still skeptical. Since this method does not seem to be based on "actual science", is it merely a placebo effect? Can a medical practice dated nearly five millenniums ago still prove to be valid? When acupuncture was created, some of the medical concepts it employed were relatively new; there were not many falsified stories for it to build off from. In fact, "acupuncture is said to have been theorized... by Shen Nung, the father of Chinese medicine, who also documented his theories on the heart, circulation, and pulse over 400 years before Europeans had any concept about them" (1). Since then, Europeans and Asians alike have encountered centuries of medical dilemmas and successes. Over time, hypotheses emerge and are either disproved or continue to live on as part of scientific discourse and medical practice. For this reason, most old-fashioned treatments no longer hold true when compared to methods cultivated within the great wealth of knowledge attributed to medicine today – not because we are smarter now or are more civilized, but because the field of medicine has accumulated so much more experience and has improved methods to be "less wrong" countless times. So, wh y has acup... ...l position in the womb" (4). Altogether, acupuncture has withstood the test of time; not necessarily the test of criticism. The procedure seems to work sometimes, and so it has not been falsified. It seems very beautiful, ancient and creative, and so it is left alone as a non-conventional medical alternative. But there should be more studies done on the subject, especially to prevent people from depending on it because of a desire to be all-natural. This is not reason enough to abandon centuries of experience and of scientists getting it "less wrong". Acupuncture is a possible treatment – but not a perfect one. Internet Sources: 1) http://www.cdc-cdh.edu/hospital/cardio/art16.html 2) http://www.acupuncture.edu/laymans/index.htm 3) http://healthlink.mcw.edu/article/991233942.html 4) http://www.tamu.edu/univrel/aggiedaily/news/stories/00/112900-3.html The Needle Treatment Essay examples -- Biology Essays Research Papers The Needle Treatment Acupuncture is an ancient Chinese method of "encouraging the body to promote natural healing and improve bodily function" (1) that dates back as far as 4,700 years ago. Now for the past 25 years it has appeared in the U.S. as a popular form of alternative medicine, and it is "a licensed and regulated HealthCare profession in about half the states in the U.S." (3). It is most often called upon for problems such as lower back pain, migraines, arthritis, and additional non-fatal aches and pains. Some people say it works, others are still skeptical. Since this method does not seem to be based on "actual science", is it merely a placebo effect? Can a medical practice dated nearly five millenniums ago still prove to be valid? When acupuncture was created, some of the medical concepts it employed were relatively new; there were not many falsified stories for it to build off from. In fact, "acupuncture is said to have been theorized... by Shen Nung, the father of Chinese medicine, who also documented his theories on the heart, circulation, and pulse over 400 years before Europeans had any concept about them" (1). Since then, Europeans and Asians alike have encountered centuries of medical dilemmas and successes. Over time, hypotheses emerge and are either disproved or continue to live on as part of scientific discourse and medical practice. For this reason, most old-fashioned treatments no longer hold true when compared to methods cultivated within the great wealth of knowledge attributed to medicine today – not because we are smarter now or are more civilized, but because the field of medicine has accumulated so much more experience and has improved methods to be "less wrong" countless times. So, wh y has acup... ...l position in the womb" (4). Altogether, acupuncture has withstood the test of time; not necessarily the test of criticism. The procedure seems to work sometimes, and so it has not been falsified. It seems very beautiful, ancient and creative, and so it is left alone as a non-conventional medical alternative. But there should be more studies done on the subject, especially to prevent people from depending on it because of a desire to be all-natural. This is not reason enough to abandon centuries of experience and of scientists getting it "less wrong". Acupuncture is a possible treatment – but not a perfect one. Internet Sources: 1) http://www.cdc-cdh.edu/hospital/cardio/art16.html 2) http://www.acupuncture.edu/laymans/index.htm 3) http://healthlink.mcw.edu/article/991233942.html 4) http://www.tamu.edu/univrel/aggiedaily/news/stories/00/112900-3.html

Tuesday, January 14, 2020

Gene Kranz Essay

Apollo 13 directed by Ron Howard is the story of the real space mission that took place in 1969. The three astronauts had always dreamed of landing on the moon but not long after the astronauts launched into space did they realize that the task would be near impossible due to an explosion of an oxygen tank. Getting home safe became their next mission. A character in this film from whom I learned something is Gene Kranz played by Ed Harris. I learned that thinking calmly helps you and people around you to think positively in hard situations and that instead of being scared and giving up in tough situations, you should think outside the box and find an solution. The audience learns from this about the importance of the idea(s) of leadership attributes and skills. Gene Kranz is an important character in Apollo 13 because even with a responsibility of the whole mission which is going to through a crisis, he was still calm and determined as ever. For example when the whole staff is tensed and worried, Kranz voice cut through a simple command, â€Å"Let’s work the problem, people but not make worse by guessing. This shows me that Ron Howard knew that every problem has a solution, or at least the damage could be managed, but you have to be methodical and work through the issues. Stop worrying, and start working. Another example of a lesson from Gene Kranz is When the NASA director said that this could be the worst disaster in the history of NASA, Kranz cut him off. â€Å"With all due respect sir, I think this is going to be our finest hour.† This shows that he more focused on the positive goal than think the negative. This positiveness also gives him and people around the confidence needed to complete the mission. This is how the sc ript and director show us the importance of leader’s positive attitude in tough situations and what I learn from him. Another reason Gene Kranz is a character from whom to learn is because he never portrays any fear or sense of panic that he might be feeling and always thinking clearly as to what can be done next. Always in control and remain in the moment. For example when he says â€Å"We’ve never lost an American in space, we’re sure as heck not going to lose one on my watch Failure is not an option! By this example Rom Howard shows us that leaders are supposed to have these attributes of Firmness and Flexibility. Being on a firm to do  something and think of flexibly ideas of how to do it. We could also see this when he says â€Å"I don’t care what anything was designed to do. I care about what it can do. As NASA’s scientists worked the problem, Kranz made them think outside the box. They broke down systems and used the parts to create new tools and systems that helped saved lives. By showing us these things which he does/says/ experiences, director emphasises the idea of never treating failure as a possible option or outcome which is also important in our own lives. Gene Kranz is an important character from Apollo 13 because the director uses him to teach me lessons about being able to think calmly in tough situations like an anchor in a storm and that to never be scared of failure and give up. These ideas are also importa nt to my own life because there may be a lot of tough situations coming up in my life, which may only be solved only if I don’t get scared and think calmly. If I get scared of failure and back off my life would end being a regrettable one.

Monday, January 6, 2020

Intercultural Communication Communication Improvement...

Intercultural communication: Communication Improvement Plan Progress Report CIP Skill: Good intercultural communication ability needs the willingness to accept differences and adapt to them. Intercultural communication also requires an understanding that different cultures have different customs, standards, social mores, and even thought patterns. Progress Description: For the past eight weeks, I tried very hard to improve my intercultural communication. Some of the challenges that I faced were asking questions whenever I’m unsure about something. Personally it’s very hard for me to ask questions for some reason I feel uncomfortable. You will never know when people will take your questions as a personal question. I asked one of my classmates about her culture and she got angry and said its personal information. That is the reason I don’t feel very comfortable asking questions. In order to develop good intercultural communication, I have to ask a question to clarify any misunderstanding. In the other hand, I succeed listening and paying attention while I’m communicating with someone who has different culture and backgrounds than me. In the past, I had a difficult time to listen and pay attentions whenever I’m communicating with others. My consultant encourages me to listen very effectively. All The feedback she g ave me was very beneficial. I also learned a lot from my consultant. Goal Evaluation: Based up on the development I described above I would give myself letter A.Show MoreRelatedIntercultural Competence Of International Recruiters37.9088 Words   |  37 PagesINTERCULTURAL COMPETENCE OF INTERNATIONAL RECRUITERS 37 Literature Review Studies of intercultural competence over the past thirty years attempt to measure the success or growth of an individual’s knowledge, skills and attitudes in relation to other cultures (Sinicrope, Norris Watanabe, 2007). Global learning outcomes such as intercultural communication skills, intercultural adaptability, intercultural sensitivity, intercultural maturity, and intercultural competence are skills that universitiesRead MoreUs Mexico Case Study. Comparative Analysis and Solutions for Successful Business Relations4940 Words   |  20 Pages Introduction The problem of intercultural communication is not unique. While communicating with people from other countries at least once everyone has experienced the feeling of being misunderstood. Such misunderstanding in business will certainly lead to a failure, so, besides being a good entrepreneur and professional in economics, being interculturally competent is as important, or even the most important issue while conducting international business. The topic of this termpaper isRead MoreUs Mexico Case Study. Comparative Analysis and Solutions for Successful Business Relations4954 Words   |  20 Pages Introduction The problem of intercultural communication is not unique. While communicating with people from other countries at least once everyone has experienced the feeling of being misunderstood. Such misunderstanding in business will certainly lead to a failure, so, besides being a good entrepreneur and professional in economics, being interculturally competent is as important, or even the most important issue while conducting international business. 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