Internationalization

Businesses, large and small, must formulate international business strategies to function in the global economy. Global business activity is just as normal today as doing business in your local community was 50 years ago. Doing business internationally has a number of appealing factors. Some of them are:

Push Factors
• Saturation in domestic markets
• Economic difficulty in domestic markets
• Near the end of product life cycle at home

• Excess capacity

• Risk diversification

Pull Factors
• Build a broader customer base
• Prevent adverse effects of seasonal bus. swings in dom. market
• Utilize excess manufacturing capacity sitting idle at home
• Lower production costs by using lower priced labor abroad
• Privatisation in and liberalization of domestic markets

 

Most successful global businesses have some things in common such as:

  • They have a strong international vision
  • They either have or acquire international management experience
  • They develop strong working partnerships with foreign business people
  • They offer differentiated technology or know-how not available in foreign markets

Figuring out when to go global is easy. The time is now! Even local businesses such as barber shops, health clubs, and tax preparation services need to be aware of what is happening globally in their respective fields. New ways of doing business and newly created products can affect the way local businesses do their work. Figuring out which foreign countries to do business in isn't as complicated as you might think. We will help you in formulating your international business strategies and guide you through the process. With our expertise we are able to determine:

  1. Who will use the product or service?
  2. How do those consumers define value?
  3. How will you keep up with market trends there? 

  4. How can you increase your product's market share?

Ward Howell takes great care of details and constantly monitors markets all over the world. This is why our consultants will consider some of the following points in their country analysis for your needs:

  • Political stability
  • Currency stability and value
  • Cultural values and ethics
  • Language familiarity
  • Receptiveness to foreign intervention in foreign local markets
  • Trade restrictions and tariffs
  • Legal barriers
  • Standard of living
  • Ease of travel to foreign locations
  • Infrastructure of foreign communities