What measures should a company consider before going global?© BrainMass Inc. brainmass.com September 24, 2018, 5:17 pm ad1c9bdddf - https://brainmass.com/business/international-business-strategy/factors-to-consider-before-going-global-90663
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