International Strategic Management Practices
A company will also need to be aware of the needs and values across cultures. This is going to differ from culture to culture, and company managers will need to be aware of the Maslow's Hierarchy of needs and how they relate to the country we are going business with. (Griffin and Pustay, 2003, pg 432).
When considering where to start expansion, "As a rule, small companies should select a first-priority region and focus on building operations there, rather than expanding into all regions at once." (Curle, 1998)
Another consideration we will need to face at a company is whether to expand though distributors or to sell directly. "Turning to a third party isn't necessary if you have regional experience in identifying resellers, negotiating deals with them, and working with them to produce sales." (Curle, 1998)
In addition, before doing business with other countries we should ensure we have marketing materials available in native languages and all business managers be informed of customs and cultures of the country we are doing business with. (Executive Planet, 2005)
References:
Griffin, Ricky W. and Pustay, Michael W., 2005, "International Business", by Pearson Education, Inc, Upper Saddle River, NJ
Curle, Robin Lea, May 1998, "Expanding Internationally: Grow as You Go", Inc.com, [Electronic Version] retrieved on November 21, 2005 from http://www.inc.com/articles/1998/05/17667.html
Executive Planet, "Business Culture", [Electronic Version] retrieved on November 18, 2005 from http://www.executiveplanet.com/business-etiquette/
Published by Sheri Taylor
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