In today’s market environment, exercising business internationallycan be portrayed as either being defensive or offensive for theorganization. The positive side of a business becoming a globalenterprise can be related to the size of the international marketcompared to that at the domestic level. The vast international marketprovides opportunities for growth because of the number of peopledemanding for the products. Global operations would be instrumentalin increasing the overall revenues earned by the enterprise (Min, &Smyth, 2014). An organization that is considering raising theirincome could consider the approach of going global. It is essentialfor the organization to consider various factors before deciding totransform into a global enterprise (Bremmer, 2014). Factors such ascustomer loyalty globally should be taken into consideration.Further, it is vital for the organization to consider competitionfrom rival firms and the level of preparedness to deal with the same.Also, consideration should be taken for cultural and societal factorsas relates to operations of the business. Finally, technologicaladvancements must be upheld by the business as it considers goingglobal to match the practice being upheld by other firms(Jovarauskienė, & Pilinkienė, 2015).
Identification of both customer and business needs is essential inconsidering the decision to go global. The firm must ensure that theycan meet the individual needs of customers while at the same timeaddressing theirs. The approach would be instrumental in endowing theorganization with benefits such as increased profits due to theability to meet client needs. For example, customers need to get theassurance that indeed the firm will be able to help them addresstheir concerns.
However, businesses opting to operate on a global scale shouldequally brace for downside effects arising out of their operations.For example, the organization may have to ensure that it aligns itsbusiness activities with the existing laws in all of the countriesthey would be operating from.
Bremmer, I. (2014). The new rules of globalization. HarvardBusiness Review, 92(1), 103-107.
Jovarauskienė, D., & Pilinkienė, V. (2015). E-Business orE-technology?. Engineering Economics, 61(1).
Min, B. S., & Smyth, R. (2014). Corporate governance,globalization and firm productivity. Journal of World Business,49(3), 372-385.