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Before you decide to make your business global

Hello readers, so today I will be telling you few things to note before you decide to make your business go global. You have to make very smart decisions about your strategies and structure because once you go international they will always reflect in all the future strategies or business structure you develop. The moment your business goes international it will be difficult to change the whole strategy and structure totally.

Different multinationals have different strategies that they employ. Some multinationals try to tailor their strategies to suit the taste of nationals, meaning each country will have adjusted strategies to meet the needs of nationals. Some other companies look at their international counterparts to bring in new product development designs while others do all their research and development in their headquarters while they sell and distribute their products via subsidiaries. It really depends on what strategy that will suit the type of products you make.

Factors that will help you stay competitive in a business include the unique resources and capabilities you have as well as the country you decide to set up a business in. A thorough research must be done before going international to make sure that a company can compete internationally because a lot of companies that performed well locally failed when they decided to go international.

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Eid Mubarak

Happy new year

                     Do have a lovely year!