International Business Essay

4186 Words17 Pages
Founded in 1962, Harvey Norman is a global brand with operations in 7 countries with more than 160 stores. Harvey Norman sought international expansion to identify new markets and increase sales. In 1999, Harvey Norman entered Singapore through Pertama Holdings Limited. Harvey Norman owns a controlling interest in Pertama Holdings Limited Singapore which is also listed on the Stock Exchange of Singapore. Pertama Holdings engages in retail, wholesale and export sales of electrical goods and home wares in Singapore and Malaysia. Pertama, trading as Harvey Norman, operates 14 retail outlets in Singapore and 6 retail outlets in Malaysia. This report serves to analyse the business environment of Singapore and how Harvey Norman has benefited from operating in Singapore. Business environment of Singapore Located in the heart of Asia, Singapore is a modern and cosmopolitan society with both western and eastern influences. Singapore’s advanced technological and social networks, political stability, internationally integrated network and highly skilled workforce makes Singapore an ideal bridge between the East and West. The Singapore economy has been developed by a clear and focused economic policy. With no natural resources and scarce land mass, multi-national corporations (MNCs) and government-linked corporations (GLCs) play important roles within the economy. The economy is driven by exports in electronics manufacturing, financial services and tourism sector. Singapore’s infrastructure and highly skilled workforce provides easy access to markets for imports and exports, and the ability to turn imports into exports. Singapore is ranked favourably in the co-publication by The World Bank and the International Finance Corporation, “Doing Business 2010”, ranked within the top five countries in several categories such as: Ease of Doing Business | Protecting Investors |

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