Global Business Strategy
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Your Next Business Growth Strategy: Go Global

Your Next Business Growth Strategy: Go Global | Global Business Strategy | Scoop.it

When I think about the benefits of exporting, I consider the thriving small businesses across Washington, D.C. – from Eastern Market to 14th Street. 

How would those businesses fare if they marketed their storefront to just five of every 100 customers that passed? Not well. But that’s the position many U.S. businesses are in, when they don’t seek to reach the 95 percent of consumers who live outside the United States


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TheG2Experience's curator insight, May 29, 2013 11:31 AM

Did you know that 80% of the world's purchasing power is outside the US? I love the image Mike Masserman, of the US Department of Commerce, uses here. In essence, once you have determined who your target audience is, would you ignore 80% of them? 

 

This article gives great tips to find out if you are export-ready, and plenty of resources to get started.

 

Thinking of exporting? Go for it, and as Mike says, you'll never look back.

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Global Logistics Case Study: UPS Capital for International Shipping

Global Logistics Case Study: UPS Capital for International Shipping | Global Business Strategy | Scoop.it
A global logistics case study on how one satisfied customer users UPS Capital to navigate international exchange rates and shipping requirements.

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TheG2Experience's curator insight, May 31, 2013 1:06 PM

Even though this article focuses on UPS and the services offered, Grace Davis, featured in the article, shares the importance of developing cultural sensitivity and flexibility. As she points out, "What you sell first is not a product; it's a service and a relationship, and trust is a very important component of any transaction"

 

Understanding not only the do's and don'ts of different cultures but more importantly where behaviors come from, the underlying values, plays a critical role in the success of your global expansion.

 

Learn more by following articles here or on our website at www.g2Experience.org (that's G squared, for Global Growth)

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How the US-EU trade deal affects you

How the US-EU trade deal affects you | Global Business Strategy | Scoop.it
What might the US-EU trade deal mean for Americans and Europeans?

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TheG2Experience's curator insight, June 18, 2013 8:00 PM

Great read that puts the topic into examples we can all relate to. Articles about international policy can be pretty dry. Not this one! 

 

To learn more about doing business with Europe and all over the world, go to www.g2experience.org

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How joint ventures can aid your global business growth

How joint ventures can aid your global business growth | Global Business Strategy | Scoop.it
Joint ventures can be a useful way to accelerate your business partnership progress in a new market. Find out more about the market entry strategy.

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TheG2Experience's curator insight, July 2, 2013 8:38 PM

The US government launched in 2010 a broad initiative to grow US exports and a lot has been written and said about the need for the country to grow its global trade. Although exports are what comes to mind when considering international expansion, global growth can actually be achieved through many different forms of business partnerships. One of them, joint ventures, is explored here. 

A company aiming for global growth will be well served by thinking carefully about its objectives, priorities, resources and timeframe, so that its research and outreach are more targeted and has a higher ROI.

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Ten questions to ask before expanding overseas

Ten questions to ask before expanding overseas | Global Business Strategy | Scoop.it
Deciding when to go global is a tough call for entrepreneurs. They may be tempted by opportunities in hot markets like China, India or Brazil, but could risk venturing abroad before they’re fully prepared.

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TheG2Experience's curator insight, May 28, 2013 10:23 AM

All good questions to ask before making the decision to go global. Although I would address them in a specific order, like building blocks:

1/ Do I have the bench strength for international expansion? To me, that one is the most important. Otherwise you risk being stretched too thin.

2/ Have I built a solid foundation at home? Which, by the way, does not mean Have I saturated the US market? 

3/ Am I financially able to sustain an overseas expansion?

 

Then I would look at the strategic approach to your global expansion:

4/ Should I simply expand my online presence?

5/ Have I sized up the local competition?

There are other questions to address here, but I am only addressing the ones in this article.

 

Once you have decided to expand to global markets and done your homework, DO NOT FORGET these critical aspects:

6/ How will I need to adapt to the local culture?

7/ Do I understand the cultural implications of the sales process?

 

I believe the next 3 questions don't belong on this list per se. Whether you need a partner is not specific to globalization, potential for red tape belongs in the earlier homework, and finding talent locally is a question that will only arise much later in your global development.

 

8/ Do I need an international partner?

9/ Where's the potential for red tape

10/ Will I find the talent I need in another country? 

 

But these lists are a good starting point to begin exploring.

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Looking for New Customers? Think Global

Looking for New Customers? Think Global | Global Business Strategy | Scoop.it
Don't be intimidated by customs, language translation, and currency exchange--exporting is easier than you think. Five tips to get started.

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TheG2Experience's curator insight, May 31, 2013 12:26 PM

This article was written by Drew Greenblatt, featured in the video we posted yesterday. If you are a small or medium size company, you too can go global. Take a look at these great pointers Drew shares here.

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World Trade and Small Business

World Trade and Small Business | Global Business Strategy | Scoop.it

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TheG2Experience's curator insight, June 26, 2013 8:14 PM

"Only 1 in every 100 U.S. SMEs export. According to the NASB survey, non-exporters said their main barrier to selling internationally is a lack of information and an unclear understanding of where to start. And half of small business exporters report spending a minimum of a few months as well as an average of 8.4% of their annual operating revenue preparing to export."


What this means is that there is a HUGE opportunity for SMEs. Resources are plentiful, support is available everywhere...in fact, it's a case of too much of a good thing. It's almost like being at the supermarket and standing frozen in front of a wall of 32 different types of tomato sauce! So, imagine, you spend all this time reading all the labels, comparing ingredients and pondering nutrition facts... you choose, you buy and then you trip on something and the glass jar shatters on the floor...


Well, in the world of exports, the "something" you trip on is often, in fact 70% of the time, a problem in the relationship with your partners or customers, a problem rooted in culture. 


To learn more about this and other related topics,go to our website www.g2experience.org, follow us on twitter @G2Exp, or follow us right here on Scoop.it

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Work across Cultures? You need Global Dexterity

Work across Cultures? You need Global Dexterity | Global Business Strategy | Scoop.it
Andy Molinsky argues that global dexterity is needed by people who want to work in a cross-cultural workplace. Cross cultural training is not enough on its own.

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TheG2Experience's curator insight, July 20, 2013 5:49 PM

Exactly on point, Andy reminds us that knowing about cultural differences is only the beginning but for your efforts to have an impact you need to internalise what you have learned and put it into action.

 

That is exactly the premise that the G2 Experience is built on. Check out how we approach this at www.g2experience.org and join our LinkedIn group (The G2 Experience) for more articles and conversations like this.