Political Economy Of International Relation -Myassignmenthelp.Com

Question: Discuss About The Political Economy Of International Relation? Answer: Introduction The above discussion suggests that in China, PETRONAS can face most considerable risks in the economic parameter. The emerging economic crisis is quite challenging for the business growth. In UAE, the political instability and religion concerns may affect the business functions of PETRONAS. The racial intolerance and changing government policies in USA are quite unfavorable for the long term sustainability of PETRONAS after the expansion. Organisation Strategy Recommendation for each country Expansion of the business in overseas countries reflects the dynamic cultural environment and extensive customer base. It has been observed that the business marketers often face the considerable challenges while expanding the business in the outside countries (Baylis, Owens and Smith 2017). The major issues are found in maintaining foreign laws, developing the internationalized corporate structure, adopting the global pricing strategy. Currency rates, political risks, and so on. PETRONAS need to undertake the fruitful organizational strategy to expand the business in these three countries. It has been observed that the economic crisis in the Asian country like China is much challenging for the foreign business. Moreover, the country requires development in the supply and demands of the oil and petroleum industry. The domestic political rules can put the PETRONAS project at risks. PETRONAS need to improve the technological equipment to produce more oil and petroleum products in China. The advancements in the technological field would produce the high quality products that would be profitable to earn more revenues in the country and mitigate the economic crisis. The inhabitants in UAE are prone to comfortable lifestyle by maintaining their well-paid jobs. They are even quite adaptive to the globalization strategies in different business sectors. Middle East is quite renowned for producing and exporting oil much significantly. UAE is not an exception in such regards. It has been observed that the changing oil prices are affecting the foreign business marketers during the business expansion. Another risk is found in the political environment of UAE. It is noticed that the political instability, terrorism attacks, and violence are some of the considerable risks for the foreign business marketers. Therefore, the development of the assistance and governmental support would be much preferable for PETRONAS to deal with the political risks in UAE. Maintaining the suggested laws and regulations is also preferable enough to sustain the business for a longer period. The largest economic value of United States is quite opportune for the foreign business marketers to develop the business entity and earn profits. PETRONAS needs to collaborate with the local business companies in US. The strong democratic political setup is quite favorable for the foreign marketers. The workforce supports derived from the local businesses would be beneficial for PETRONAS to mitigate the challenges of workforce shortage. It is even noticed that the increasing illegal racial intolerance is much riskier for the Malaysian company PETRONAS. On the other hand, maintaining the legal rules and government considerations would be helpful in developing the sustainable business entity in US. Application of these business strategies would be helpful for the expanding the business in these countries. Maintaining the legal norms and regulations would be necessary to avail the business benefits in a considerable way. While the changing oil prices are affecting the foreign business marketers during the business expansion, it is necessary for the business marketers to find out the alternative solution to remain competitive. These business strategies are thus helpful in managing the scenario and establish the business entity in the foreign market. References Baylis, J., Owens, P. and Smith, S. eds., 2017.The globalization of world politics: an introduction to international relations. Oxford University Press. Beeson, M., 2014.Regionalism and globalization in East Asia: politics, security and economic development. Palgrave macmillan. Gilpin, R., 2016.The political economy of international relations. Princeton University Press. Halpern, M., 2015.Politics of Social Change: In the Middle East and North Africa. Princeton University Press. Meyer, K. and Peng, M.W., 2016.International business. Cengage Learning. Milton-Edwards, B., 2017.Contemporary politics in the Middle East. John Wiley Sons. Petronas.com.my. 2017.PETRONAS STRATEGISES BUSINESS EXPANSION TO CAPTURE INDIAS GROWTH | PETRONAS. [online] Available at: https://www.petronas.com.my/media-relations/media-releases/Pages/article/PETRONAS-STRATEGISES-BUSINESS-EXPANSION-TO-CAPTURE-INDIA%E2%80%99S-GROWTH-.aspx [Accessed 31 Jan. 2018]. Wild, J.J., Wild, K.L. and Han, J.C., 2014.International business. Pearson Education Limited.