Nine Things To Ask About Global Markets
Is your company ready to do business around the world? First, you have to understand the countries where you’ll operate. Readiness to compete in different climates is addressed in the book, Harvard Business Review on Thriving in Emerging Markets (Harvard Business Review Press/Available now). In a section called “Strategies That Fit Emerging Markets,” contributors Tarun Khanna, Krishna G. Palepu and Jayant Sinha examine the factors that come into play when business is conducted in a foreign nation. These include the structure of local government, availability of customer data, transportation infrastructure, and other important variables. Many problems are encountered, the authors write, when businesses stick to their traditional strategies without considering the unique, local dynamics of each particular country in which they are active. Keep this list in mind when considering your own company’s potential, and your own involvement in its global initiatives. For more about the book, click here.