Literature review including a research methodology, Objectives and Dissertation

Literature review including a research methodology, Objectives and research. Tobic (Internationalization) - Dissertation Example The University of Bradford is one organization that seeks to go the international way as a way of expanding its market share with the added advantage of increasing its profits among other benefits. However, there is a high risk associated with the internationalization of organizations evident in the number of organizations that have failed in the process. Some of the main challenges associated with internationalization is the complexity of the process of going international, the high costs involved and the complexity of managing internationalized entities. Objectives of the Study 1. To determine how feasible it is for the University of Bradford to internationalize 2. To determine the key issues that the University of Bradford will have to deal with in its internationalization 3. To establish the best strategy that the University of Bradford can adopt to successfully go through the internationalization process Research questions In achieving the objectives of this study, a number of q uestions will have to be answered. The following are the research questions for this project. 1. How feasible it is for the University of Bradford to internationalize? 2. What are the key issues that the University of Bradford will have to deal with in its internationalization process? 3. What strategies can the University of Bradford adopt in its bid to go through the internationalization process? 4. ... Reasons behind the Internationalization of Organizations Most economies thrive on the notion of imports and exports. Penetration into the foreign market is one of the major reasons why firms are venturing into internalization (Taylor, Walker and Beaverstock, 2002). In the 21st century, a lot of firms and businesses have been involved in international markets. Companies have been looking for ways to maximise their productivity and profitability by tapping into markets other the ones in their own home base of operations. There are different theories that have been formulated to explain the increase in international activities among different firms all across the world (Gankema, Snuif and Zwart, 2000). The absolute cost advantage is an internationalization theory that propagates the idea that institutions and firms should specialize in those products in which they have a sure advantage. This theory was popularised by Adam Smith and it implies that if a company can make a product without having to spend a lot in terms of costs per production unit (Welch and Welch, 1996). This view supports the idea that companies that have a comparative advantage do not have to have an absolute advantage to prosper in a market. Companies therefore internationalize so as to gain from comparative advantage (Taylor, Walker and Beaverstock, 2002). The prospects of new markets are another major driving force for internationalization. Internationalization opens up many opportunities for business, big and small. Advances in technology have led to the development of production techniques which ensure that companies can mass produce (Vahlne and Nordstrom, 1993). As a result, many of these companies have ventured into the international scene in search of new markets in which to sell