Should you go global?
What are the right reasons to go global? What are the potential advantages? Design your globalization approach based on your primary objectives.
Internationalization has been oversimplified by the press in recent years. The big headlines make it seem like an irreversible process, i.e. markets are globalizing, and any company that misses the boat is doomed to flounder one day or another.
“From Local Champions to Global Masters” offers a more subtle reading of this phenomenon. The authors provide a framework for thinking about internationalization and a series of practical tips drawn from a decade of observing international client companies. They warn against the dangers of “me-too ”internationalization by firms blindly following their customers, competitors, or general opinion. They also emphasize the need to clarify and analyze anticipated advantages before committing to this path.
The following points appear particularly relevant:
– Understand the “wrong reasons” that propel many companies to internationalize against their own best interests.
– Clarify what your company wants to get out of internationalization, e.g. lower unit costs, higher sales volume or learning opportunities.
– Define the primary objective to be served by internationalization and design your approach accordingly.
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