Global Business Entering Islamic Marketplace in Iraq Research Paper

Global Business Entering Islamic Marketplace in Iraq - Research Paper Example Since few decades,there have been significant advancements in almost every field due to achievements of human race in information and technology In the result,huge numbers of business organizations are putting efforts to enter into the international marketplace by expanding from home country to a new country In this regard, it is an observation that such trend has become common nowadays; however, organizations are confronting a number of challenges during their entrance into a new marketplace. Experts believe that it is happening due to a saying, â€Å"People don't plan to fail, they fail to plan† (Moore & Ellis, pp. 610-611, 2002). In addition, it has now become survival of the fittest where organizations are competing with each other on the international platform while coping up with the identified challenges. From this perspective, globalization has become a common notion now; however, it is still enjoying its significance and analysis has indicated that it will continue en joy such importance in the coming years as well. Unfortunately, individuals and organizations have been unable to acquire a clarified definition and understanding of the term globalization that is another major issue identified during the analysis of different global business concepts. According to the European Commission, â€Å"Globalisation can be defined as the process by which markets and production in different countries are becoming increasingly interdependent due to the dynamics of trade in goods and services and flow of capitals and technology† (Held, pp. 92, 2000). ... ion as a doubtful and vulnerable region for the international business; however, nowadays, there has been a significant alteration in perspectives of business experts, as the region has been able to attract huge number of investors and business organizations with its attractive trade and investment policies. In the result, one can observe huge investments and establishment of new businesses by multinational organizations in countries, such as UAE, Israel, Jordan, etc. Iraq is one of the major stakeholders in the Middle East; however, during the last few years, there have been adverse security conditions in the country that resulted in lack of interest of business organizations (Fleisher & Bensoussan, 2007). However, nowadays, business organizations are planning to enter into this Islamic country considering it a lucrative business marketplace for international business. In this regard, organizations will have to consider a number of factors that will be under discussion in following section of the paper. In particular, marketing is the most imperative component of every business planning, and it decides the success or failure of a business venture. In this regard, it will be important for a company to analyze different aspects of the region while creating its marketing strategies that will be crucial while entering into the new marketplace (Longenecker, 2008). In order to acquire a realistic understanding, the paper has chosen Starbucks Corporation as one of the case studies to suppose entrance of their coffeehouse stores in the Iraqi Islamic marketplace that will make it easier to understand different concepts embedded in the topic. Briefly, Starbucks Corporation (2011) has now become a leader in the coffeehouse business that has approximately fifteen-thousand stores