The paper "Links Between International Business and Poverty Reduction" is a wonderful example of an assignment on business. There have been the varied definitions of the word “ serve” . To serve is, therefore, “ to provide goods and services for customers; to be of assistance to promote the interest of, to aid. ” (Murray, 2014). Business, on the other hand, is the process of exchanging goods and services for the sole purpose of making a profit. The world’ s poor who comprise over 3 billion people, is a group of people who averagely survive on a dollar or less a day (World Bank, 2013).
They do not enjoy the luxuries of this world but work so hard only to earn peanuts mostly. They are a group of the world’ s population that businesses have decided to work with. Due to this, there has been a very long time discussion about serving the world’ s poor. The argument is that is good business and good for the most unfortunate people in the world. It is, therefore, good for the company in various ways. To start, millions of new customers come into the global marketplace every year.
Most of these clients are countries whose populations have been unfortunate for a very long time. In some cases, they are still transitioning. The countries, in this case, are Brazil, India, China, and of late South Africa. They are commonly referred to as the BRICS. In the league of new and emerging markets, the BRICS are not the only players. There are also third-world countries from Africa, Asia, and Latin America. The countries are Nigeria, Kenya, Egypt, Angola, Mexico, Uruguay, Argentina, and others (World Bank, 2013).
When these countries enter the markets, they bring in a significant number of customers. They purchase a lot of things whose combined value makes good profits. The companies can even increase the prices to take advantage of the customer’ s economic status (Murray, 2014). Second, doing business with the poor is good for companies because it enhances competition and innovation. The innovations are mainly in telecommunications, transport, food technology, and others. Additionally, there is an enhancement in competition on the production and delivery of the products, quality of the products, and the costs involved.
The ventures such as banks, fuel dealers, civil works companies, and others compete for the deals and tenders that are present in the countries (London, 2011). Businesses strive to come up with new ideas and ways of offering their products. The products need to be of better quality for the customers.
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