Question

Describe five factors that need to be considered when internationalising a product or service

Answer 1

• Culture - Culture can determine whether an organization is successful or not
• Legal and regulatory factors - Conducting business in international markets can be affected by lack of flexibility in the regulation and laws guidelines
• Foreign government policies - Overseas business options such as currency exchange rates can influence the success of an organization
• Business case - It is important to consider whether the business case responds to the rewards, adversity, and challenges of expanding into the international market
• Affordability - It is important to consider the cost of expanding the business to international market and the affordability of products