For a company to go global, it means that it is prepared to market itself in the international market. The international market is the one of the toughest ones to operate since it involves customers from very diverse backgrounds, language, religious, economic, cultural and social practices among others. Before a company goes global, it has to make some critical choices. To start with, the firm should have enough funds to fund its operations all over the globe.
This will guarantee that it is able to fund all the operations from production to distribution to ensure that the products are reaching their target customers effectively thus beating the competitors. Since different countries have different legal procedures, the firm decisions on going global should be prepared to cope with the laws of the different countries.
Different countries will require different types of goods depending on the economic factor. The company should thus be prepared to diverse its products depending on the target market. The distribution and marketing channels should also be different for different countries since some will prefer e-marketing while others will prefer one-to-one marketing. The firm should also be equipped with the necessary language to deal with the different races and tribes involved. The firm going global should as well consider the political situation in which it wants to start a business since no one would be willing to start a business in a country, which has state unrest. The firm should consider the expected profitability, which may be reduced because of the increased production expense. For instance, the firm may be considering establishing a firm in a country, which does not have the necessary resources, and in which it is expensive to get the resources required.
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