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Topic 11: Global Aspects of Entrepreneurship - Coggle Diagram
Topic 11: Global Aspects
of Entrepreneurship
Ten Strategies for Going Global
Foreign Licensing
International Franchising
Creating joint ventures
Countertrading and Bartering
Relying on trade intermediaries
Exporting
Creating a Web site
Importing and Outsourcing
Becoming an expat entrepreneur
Establishing international locations
Barriers to International Trade
Embargo
Dumping
Quotas
Political barriers
International barriers
Business barriers
Domestic barriers
Cultural barriers
Guidelines for Success in International Markets
Learn foreign customs and laguages.
Recruit and retain multicultural workers.
Develop new products for the world market.
Train employees to think globally.
Seek out assistance from professionals.
Hire local managers to staff foreign offices and branches.
Take time to learn before jumping in.
Why "Go Global"?
Lower product cost
Improve competitive position
Lower manufacturing costs
Raise quality levels
Increase sales and profits
Become more customer-oriented
Offset sales declines in the domestic market