What measures should a company consider before going global?© BrainMass Inc. brainmass.com October 24, 2018, 8:13 pm ad1c9bdddf
Twenty Essential Factors To Consider Before Going Global
By Laurel Delaney
Never in the history of the world has the entrepreneurial and small business spirit ? the spirit of adventure -- been more alive or in a more favorable position to reach out to the world for business. International trade increases sales and profits, enhances a company's prestige, creates jobs and offers a valuable way to level seasonal fluctuations. But one thing gets tricky: what factors to consider before going global.
As with any powerful international business plan, the first step toward crossing borders is doing your homework. Consider these twenty essential factors before you begin.
? Factor 1: Get company-wide commitment.? Every employee should be a vital member of the international team, from the executive suite to customer service through engineering, purchasing, production, and shipping.? You are all in it for the long haul.
? Factor 2: Define your business plan for accessing global markets.? An international business plan is important for defining your company?s present status and internal goals and commitment, but it is also required if you plan to measure results.
? Factor 3: Determine how much you can afford to invest in your international expansion efforts.? Will it be based on ten percent of your domestic business profits or on a pay-as-you-can-afford process?
? Factor 4: Plan at least a two-year lead-time for world market penetration.? It takes time and patience to build a great, enduring global enterprise.
? Factor ...
This is a discussion of measures a company should consider before going global
Checklist for International Expansion
A- Do you agree with this list? What do you like/dislike? What would other items would you add, or what would items would you drop?
Here is a checklist of ten points for you to follow when taking the decision to enter new international markets.
1. Start by defining your motives for going international.
2. Have you researched your markets?
3. Have you looked at all alternative methods of market entry?
4. What is your fallback strategy if things go wrong?
5. Are your budgets and timescales realistic?
6. Do you have the support of the entire management team?
7. Have you nominated an international champion?
8. NEVER underestimate culture.
9. Train, recruit and provide incentives.
10. Be patient.
B- Please visit: http://www.freitag.ch/.
Explore the website and describe the competitive advantage that this business is based on. How has Freitag developed a brand that appeals to a global market? Would you buy these products?
C- Coca Cola was the world's third most valuable brand in 2014, what do you thing?
D- After all, many businesses have worked hard to sell a lot of the stuff that is polluted our world. What is our role now to help change things?