Chapter 13, Problem 1TAI1

Summary Introduction

To Determine:

The impact on the process of globalization when the company’s introduces its product.

Introduction:

Every company follows some basic ethics to achieve its goal. Every company wishes to expand its business. Expanding a small business to international is complex and dynamic. One needs to have a deep understanding of markets, competition and trends.

Answer to Problem 1TAI1

Solution:

If a company’s product goes international it should be prepared in all terms of market situation, competition, legal and financial aspects.

Explanation of Solution

Given information:

To influence a company’s product to go international

There are two characters in this case they are a company’s products and the process of international. The process of taking a company’s product international and the requirement of the success of the company lies in its foundation. The company’s product influences the process of going international on the basis of its performance in the market with due diligence. The product must be demanding in the market. There should be a proper supply of the same. The product should be trendy and accepted by the market to cater to the required needs. They have to develop a strong strategy and business plan. The company has to establish a beachhead team.

The company should make their product ready in terms of logistics and distribution. The organization has to be ready in terms of competition and attract the local market. The organization should establish a comprehensive marketing plan. The company should be clear in all legal litigations. The company’s tax and finance status should be well maintained. The company should prepare its final budget. The organization has also to maintain the close relationship with the local business also.