Prepare and share an executive summary of your final paper to share with your colleagues.
Running head: the trust busting paper 1 the trust busting paper 9 The Trust Busting Paper Michael Santoyo Dr. Murrell Jones BUS638: International Business 1-25-21 Trust busting: Trust busting is one of the most common is practiced by the government. It is famous in some of the most advanced economies of the world, such as the USA. It is defined as the entire combination of the government's activities, which are used to remove the trust and monopolies within the state. When there is no healthy competition, prices are no longer according to the demand and supply but mainly according to the organization's whims. In such a case, the price tends to rise exponentially and leads to employee exploitation (Zanettin, 2002). Trust bursting in Japan: Japanese is entirely against the trust bursting. They have imposed several rules and regulations in order to combat the trust bursting. Since 1974, the first criminal prosecution was imposed where around eight manufacturing belongs to Japan were put under the bar; these manufactures allegedly tried to increase prices. The American government seems to be most benefitted in this case. As the results of the trials, Japanese markets have been opened up. The strategy that is being applied is that each one should be in the market, and the best one (based on the quality and price) should win. This will be a fair deal for both suppliers and dealers. In this respect, considerations are being made regarding the Japanese market's globalization, where external competitors could compete with each other. The American government is also pressuring to remove all the Fair Trade Commission laws that hurt healthy competition in the market. (Wu,2018) Trust bursting in the USA: Trust bursting in the USA started even before the birth of the country. There were several restrictions on how to conduct the multiple business activities in the area. In the mid-nineties, the rule of accusations came into practice; this means there will be little to no interference in the business activities. The government will only into the play only when there is something illegal and unethical going on. In 1865, after the American Civil War, trust bursting came back into practice. Industrialization grew significantly in the following years, leading to an increase in the competition, and the prices decreased. In order to fight back, the large organization started coming together and controlling the prices. In order to combat this situation, Sherman Anti-Trust Act came into play. This tried to controlled monopoly (often termed as a trust) in the markets (Frum, 2000). Comparison of trust bursting in Japan and the USA: Both Japan and the USA are against the trust bursting method. In the USA, trust-busting was eliminated quite a long time back, while it is a recent phenomenon in Japan. In the end, in both countries, the government had to interfere in order to combat trust bursting. When trust bursting was handled in Japan, the company that benefitted the most was the USA. The Japanese opened up the market to the USA. In return, this would increase the US companies' market size and ultimately lead to an increase in their GDP. (See, 2004) References Wu, Tim (2018) The Curse of Bigness: Antitrust in the New Gilded Age. p. 110-113. Columbia Global Reports (ISBN 978-0-9997454-6-5) Zanettin, Bruno (2002). Cooperation between antitrust agencies at the international level. Oxford [u.a.]: Hart. pp. 128–129. ISBN 1841133515. DiLorenzo, Thomas J. (1985). The Origins of Antitrust: An Interest-Group Perspective. International Review of Law and Economics. 5 (1): 73–90. doi:10.1016/0144-8188(85)90019-5. Frum, David (2000). How We Got Here: The '70s. New York, New York: Basic Books. p. 327. ISBN 0-465-04195-7. See, Areeda (2004) 80-92. On consumer boycotts, see Missouri v. National Organizationfor Women, Inc. 620 F.2d 1301 (8th Cor. 1979), cert. denied, 101 S. Ct. 122 (1980) and MA Harris, 'Political, Social and Economic Boycotts by Consumers: Do They Violate the Sherman Act?' (1979-1980) 17 Houston Law Review 775, discussing the justifications for wholly exempting consumer action. Running head: [Shortened Title up to 50 Characters] 1 [Shortened Title up to 50 Characters] 9 The Global Partner Summary Paper Michael Santoyo Dr. Murrell Jones BUS638: International Business 12-21-20 Objectives 1. To foster cultural and social exchange among different countries. 2. To step out of domestic boundaries and capture more markets. 3. To make the product reach at international level and attracting more customers towards it. Formal Outline 1. Business Overview Egan-Wyer, Muhr, and Rehn (2018) informed that entrepreneurship is the art of designing, launching, and running a new idea, which involves taking risks, and all is done with the profit motive. Here, the business is related to the skincare product for the Japanese people to cure the skin diseases they are general exposed to. Skin is the best accessory, and one should take good care of it. 2. Market Overview The target market will be Japan, where people suffer from skin diseases such as atopic dermatitis, warts, acne, psoriasis, and many more. The target market will include the pediatric population and the geriatric population. 3. Financial Highlights Initially, a small investment will be made. The company will be using its retained earnings, and all activities related to transportation will be outsourced. The pricing strategy used will be the competitor's pricing strategy is that prices will be fixed, keeping in mind the competitor's price. 4. Product The products offered will be a moisturizer, cream, and face pack for the skin, which will help get rid of skin diseases and make the skin glow and healthy. Investing in the skin helps a person represent himself confidently. 5. Competitors My major competitors are Biore, Natural Aqua gel cure, Hada Labo, and Shiseido. Summary of International Venture It is concerned with the entry of a domestic business into the international marketplace. Pham, Bui, and Hoang (2020) mentioned it is done to make the product reach to international level, capture more markets, and attract customers towards the product. Several strategies are developed, and a proper pricing strategy is followed to enter the global marketplace and stay ahead of competitors. It helps the organization in producing more and earning higher profits. The organization also achieve economies of scale and fulfill the needs of both domestic and international markets. My product targets Japan as people over their faces many skin problems. The pediatric population suffers from acne, warts, impetigo and the geriatric population generally suffers from psoriasis and seborrheic. The product includes a moisturizer, cream, and face pack, which will help the Japanese eliminate these skin problems and make the skin glow and healthy. The products are developed, keeping in mind the skin's texture, source of skin problems, and skin tones. Host Country Resource Partner The host country resource partner is The Academy of International Business. As mentioned by Doh (2017), it develops standards in the field of international business. It aims to promote purposeful research to improve business and make it beyond the domestic boundaries. It will help me take my product to Japan and catering to the needs and wants of the pediatric population and the geriatric population. The product will help Japanese people to recover their glowing skin. The Academy of International Business does not look for any profit-generating opportunity during the international venture paper presentation. It will help in growing the business by achieving sustainability. The organization should research the market and develop innovative products so that the product is preferred over the competitor's product existing in the market. Hence, the resource partner is determined to develop and nurture a global community focusing on advancing in international research and business. It fosters openness in ideas, borders, and cultures. It seeks to make the world a better place by adopting inclusiveness, integrity, intellectual freedom, excellence, and internationalization. The Academy of International Business follows the principles of 501(c) (3) principles. References Doh, J. (2017). Phenomenon-based research in international business: Making IB relevant again. AIB Insights, 17(2), 14-16 Egan-Wyer, C., Muhr, S. L., & Rehn, A. (2018). On startups and doublethink–resistance and conformity in negotiating the meaning of entrepreneurship. Entrepreneurship & Regional Development, 30(1-2), 58-80 Pham, A. D., Bui, M. T., & Hoang, D. P. (2020). Employees’ Motivation for Creating International Business Venture: The Role of Perceived Competence and Job Satisfaction. Asian Academy of Management Journal, 25(2)