By definition, going global is defined as the worldwide movement toward economic, financial, trade, and communications integration.
Question:
By definition, "going global" is defined as the worldwide movement toward economic, financial, trade, and communications integration. While globalization can be traced back millenniums to the Roman Empire and before, in this century, it was best described by the journalist Thomas L. Friedman who popularized the term "flat world", arguing that the pace of globalized trade, outsourcing, supply-chaining, was quickening and that its impact on business organizations and business practices would continue to grow. For small and emerging businesses, going global is a significant undertaking that could disrupt existing business activities. Thus, it is for critical for CEOs to understand its full impact and to determine if the rewards out-weigh the risks. Stakeholders across the organization will be called on to carry more responsibilities to continue to execute on day-to-day activities and the global initiative. Taking a small business global is very complex and dynamic. Gaining a deep understanding of the targeted markets, the competition, current local market trends and the requirements to successfully launch and drive growth lays an important foundation. It's therefore important that US-based businesses, while embracing the drivers for international growth, fully understand the potential challenges or barriers to success. But they should also remember that they are not alone. There is an abundance of third-party help for those that want it and practical measures that can be taken to avoid any pitfalls.
What are the 10 steps that small companies should go through when deciding whether to go international?
Which of the 10 steps do you believe is most critical? Why?
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young