In our first step, we created the profile of our ideal international partner. The profile includes requirements regarding such criteria as financial strength, market access, technical expertise and cultural fit. Our second step is to develop a list of potential International Business Partners. As part of the ideal profile you have also determined whether you want Read More …
Category: International Business Development
Three Steps to Find your International Business Partner: 1. Develop the Ideal International Partner Profile for an Agent or Distributor
Many companies that are interested in exporting into an overseas market, are not ready to set up a subsidiary. They then have to choose between an indirect export method, using an export company, or a direct export method, using an International Partner such as a distributor or an agent. Let us presume that your company Read More …
Finding Partners to Grow Export Business
Partners Can Facilitate International Expansion Small companies often have limited resources which can severely restrict their expansion options. They may not have the money to set up a local subsidiary. Let alone several subsidiaries in multiple country regions. Their only option may be to find a suitable partner who can facilitate their International Expansion. Identifying Regional Markets Imagine Read More …
Global Business Development as International Change Management
Your International Business Development Plan calls for the establishment of a first overseas subsidiary. It helps to look at the implementation of your plan as an “International Change Management” process. Your product development group will need input from your prospective overseas customers, and the shipping department needs to put new processes in place to ship to Read More …
Considering Global Growth? Get Expert Help
A Washington Post article written by UPS, Considering Global Growth? Try domestic expansion first, suggests that companies interested in growth dive deeper into domestic markets first. The article quotes Robert Eberhardt, assistant professor of management at Santa Clara University’s Leavey School of Business, who said “The research is fairly clear that, generally speaking, companies do Read More …
International Business Negotiations, Impact of National Culture
In a global economy, making deals, creating value and resolving conflict often requires International Business Negotiations. Chances are, several people within your organization have contact with international partners, suppliers or customers. They regularly conduct International Business Negotiations and should be aware of the impact of National Cultures. After the signing the contract, negotiations do not end. Instead negotiations continue, as the Read More …
3 Tips for SME’s Contemplating Sustainable Export Growth
Between 5 and 10% of the UK’s SME’s engage in International business. In the US, only about 1% of SME’s participate in global trade. Consequently, there seems to exist a lot of untapped opportunity for Export Growth. Barriers to Exporting While experts agree that Export Growth can have important benefits for smaller business, there exist a wide variety of Read More …
Understanding National Culture: Essential to International Success
National Culture is the manifestation of THE learned behaviors and beliefs of a Nation’s people. Culture has external aspects which are relatively easily identified (language, dress, food, etc..) as well as hidden aspects. National Culture is often compared to an iceberg. You can see a small part, but the largest part is hidden under the Read More …
How to Develop an International Strategy?
What is Strategy? Before we delve into International Strategy Development, we should make sure we’re on the same page. There exist many different frameworks that can be used to understand strategy. Each of these frameworks suggest a different definition of Strategy, and no single definition pleases all. However, there seem to exist several areas of agreement as to the nature of strategy (see: Three Read More …
What is International Business Development?
To arrive at the definition of International Business Development, we have to understand what is understood by “Business Development”. If you search for the term, you will find several definitions, and you will find that different people define it in different ways. Similar to that group of blind experts talking about the elephant. Some think Business Development is the same as sales. Others think it Read More …