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Final 370

In: Business and Management

Submitted By rpctrucking
Words 1132
Pages 5
Introduction The country in which JC Penny does not currently do business is Iran. There are many reasons why business is not currently done in that country. This paper will cover Iran's financial perspective and business environment. It will also cover if JC Penny should venture out on its own or if it should merge with an existing Iranian company, upon choosing to do business there. Lastly it will cover risks, and payment plans if they were to go thru with the expansion into Iran.
The country’s fundamental business environment from a financial perspective JC Penny is not currently doing business in Iran and for good reasons. Of all the countries in the world, the United States has the most abundant of international sanctions that prohibit or restrict business with Iran (Risk of tougher sanctions rises for businesses, 2007). Although it may be possible to conduct business in Iran, it will be difficult for JC Penny to do business in Iran. “Although most activities are not covered by sanctions, beyond a few key sectors such as energy, many banks, [sic] have been reluctant to become too exposed to the country in case tougher measures are imposed” (“Risk of tougher sanctions rises for businesses,” 2007, para. 1). The Obama administration presses allied governments and persuades corporate officials not to invest in Iran (Becker, J. & Nixon, R., 2010). Providing JC Penny negotiates the legal hurdles required to do business in Iran, JC Penny’s apparel is not what most Iranians wear. Iranian women do not wear American style clothing, which means JC Penny would have to change its product to suit the Iranian culture.
Starting another operation or joining one If JC Penny attempts to move into Iran and broaden their globalization it would be best
Pg 3 for them to first analyze whether or not they should be building their name from scratch or merge with an…...

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