Answer to Question #205877 in Management for Grant McKinney

Question

Explain the process adopted by companies for going Global

Answer 1

There is a whole wide world out there with a target audience concerned with what the business has to offer. To this point, the firm stayed within its comfort zone – its city, federal state, or nation boundaries - since the company was not ready to develop globally. But, the company is now prepared to furnace new potential markets and take on the world. These seven stages will support in taking the company on the global market:

1. Research and fix on the company’s markets of prospect
2. The business must be ethnically sensitive
3. Leverage local professionals
4. Learn the language
5. Visit each nation and commence on instituting individual relations
6. Concentrate on global marketing policies
7. Set up a billing and payments system for global clients