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Ema (Entering Foreign Markets (Increased market potential could lead to…
Ema
Entering Foreign Markets
Learn to "Glocalise"
Increased market potential could lead to increased profits
Large investment required, carries a lot of risk
The bigger the company, the less control you have
Innovation
Create or improve methods with new ideas
Divergence
Remain true to local methods
Customers respect and are loyal to that
Could be missing out on better ideas
Convergence
Adopting established international methods
Already used by lots of businesses so expected to work
Less room for innovation, may not be best fir for you
Crossvergence
Best of both. Global methods changed to suit local needs
Timescale
Short
Additions or small changes to current products/methods
Minimal risk
Medium
Drastic redesign of product/method
Moderate risk
Long
A new product/method
High risk
Quality
Essential to keep customers
Preventing errors more cost effective
Quality Assurance
Quality Control
Expanding Business
May Have to Outsource more work
Background checks to ensure company has same values as yours
Economies of Scale
Creating Shared Value
Adopting societal issues into business strategy
Business profits, society benefits
