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Hi, need to submit a 2750 words paper on the topic The Development of International Business in Argentina.
Hi, need to submit a 2750 words paper on the topic The Development of International Business in Argentina. The GDP as estimated in 2008 sector-wise accounts too – agriculture with 9.2%, industry 34.1% and the service sector adds 56.7% to the total economy. The population has been immensely educated and highly skilled. About 16.27 million (2008 est.) people in the urban areas account the labor force. (Economy-Overview, 2009) Though once upon a time that accounts almost about 100 years ago, Argentina was regarded as one of the wealthiest countries of the world. But things deteriorated due to crisis in the economy, current account deficits, high rate of inflation, climbing up of external debt and loss of capital. However, GDP defaulted to 7.1% (2008 est.) mainly due to less capacity utilization of industries and labor force. (Economy-Overview, 2009)
The prosperity of a country depends upon its ability to develop its labor force, maintain healthy interest rates and currency values. It is required that the country gradually adopts measures of innovation and up-gradation to create the necessary infrastructure for the development of these variants in order to have a competitive advantage in the global business arena. Variances in the country’s own values, culture, economic infrastructures, companies and industries and its past history as well contribute to its success.
But how do companies succeed in International Markets? To it, Michael Porter suggested that unique and identical strategies formulated by the companies helped the cause. But when strategies of various companies have their trajectory of end-result on to the same point then there remains little difference between the companies. It is, according to Michael Porter, sheer innovation skills that the companies use to uplift the motive of the business in the broader sense. It is just a new and unique way of doing things. Companies perceive new ideas and bring about innovation skills in product design, .production process, marketing and advertising approach and methods to carry out training.
