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Business

Global Aspects of Entrepreneurship

Why “go global?”

  • Offset sales declines in the domestic market
  • Increase sales and profits
  • Lower manufacturing and product costs
  • Improve competitive position
  • Raise quality levels
  • Become more customer-oriented

Before going global, ask:

  • Is there a profitable foreign market in which our firm has the potential to be successful over the long run?
  • Do we have and are we willing to commit adequate resources of time, people, and capital to a global campaign?
  • Are we considering going global for the right reasons?
  • Do we understand the cultural differences, history, economics, value systems, opportunities, and risks of conducting business in the countries we are considering?
  • Is there a viable exit strategy for our company if conditions change or the new venture is not successful?
  • Can we afford not to go global?

Global

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