Benefits Of A Successful Global Business Strategy Plan

967 Words May 3rd, 2016 4 Pages
According to a global strategic business development expert, Mona Pearl (2011), the chances for global expansion are unlimited, and the potential for exponential growth is persuasive. Regardless of size or company structure, organizations which take a proactive, strategic approach to understand both risks and costs will stay one step ahead from competitors and get the benefits of a successful globalization origination. To create successful global business strategy plan, the company has to ask its customers the right questions at the right time to the right people. Start with strategy, understand the culture, and identify competitive edge are three keys to successful globalization. First, the company should start with strategy not tactics. The company must begin with developing a long term action plan which is connect to company vision, mission, and activities. The company must use the benefit from corporate strengths while identifying chances in desirable and compatible markets. It is important to understand the people and their culture, and examine each market, before answer any tactical questions. Because of lack of international experiences, most managers move toward by using what they are comfortable with, or its calls tactics (Mona, 2011). As Mona (2011) advised, “Tactics is an actions in a vacuum without a well-conceived conceptual framework” (p.214). Tactics would lead to bad assumption in market choice, because of the lack of strategic direction. For example, Latin…
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