Going International- How To Take Your Business To New Markets
The author of this article explains that corporations that have successfully managed to expand and establish new markets away from local markets deserve respect. The reason for this is that such firms took risks by moving from their comfort zones and venturing into the unknown but, in the end, succeeded (Lavin, 2019). One surprising fact from this article is that business corporations that have succeeded in venturing into different foreign markets still do better in their local markets than purely domestic firms. One of the reasons attributed to this phenomenon is that when a firm expands into new markets, the international venture becomes an avenue for learning new business tactics and models. The purpose of this article is to show that some business organizations fear venturing into the international arena due to the many risks and uncertainties involved. However, those who decide to expand into foreign markets gain a lot of knowledge, experience, courage, and income. Lavin (2019) notes that a good business strategy should not be a strategy that leads to the known but rather should be a strategy that leads to the unknown.
References
Lavin, F. (2019). Going International: How To Take Your Business To New Markets. Retrieved from https://www.forbes.com/sites/franklavin/2019/11/11/key-points-to-consider-when-developing-an-international-business-strategy/?sh=
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Going International- How To Take Your Business To New Markets
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