Management
Any business that seeks to become internationally viable needs an export strategy. There are certain steps that managers must follow to create such a strategy. According to Adams (n.d.), such a strategy must be well planned in order to create a profitable international venture. According to the author, this involves steps like determining the target market, recognizing internal and external expertise, establishing marketing tactics, and determining the amount of commitment to international ventures within the company. After the international venture has been implemented, there should also be a long-term strategy in terms of evaluation and re-evaluation throughout the stages of the strategy.
As the first step, proper planning is the most important component of ensuring the success of the export strategy. Planning means the assessment of information like facts, constraints, goals, and objectives. Plans also need to include time schedules and milestones. These will then help to assess the degree of success during the assessment and reassessment process (Export Strategy, n.d.).
Managers must also be aware of the importance of motivating employees to maintain the strength of the international company. This part of the strategy, along with the assessment and re-assessment of the business in general, forms part of the strategy after implementation.
Apart from these strategies, the International Trade Centre (2005) suggests an involvement in interacting clusters to ensure the success of international business. This means interactions among interest parties such as competing firms, suppliers, supporting organizations, educational...
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