Entering International Markets

Entering International Markets

Measuring a potential business venture has many aspects which the international manager must be aware of in order to convey the correct information back to the decision makers. Being ignorant to any of the aspects can lead to a false representation of the project, and hence an uninformed decision being passed. In order for a business to survive it must grow. For growth to be optimal, management must first be able to identify the most attractive prospective leads. The country as a whole, specifically geography, government, and financial aspects must be looked at in order to yield the best possible picture of the market a company wishes to enter. Concentration should be placed on gathering reliable facts that are backed up by more than one source. It is to be hoped that after creating "a picture" of the market, management's analysis of the potential business venture and plan of action will be structured as to avoid losses and to find the most profitable scenarios.

The success of the multinational corporation lies on the shoulders of it's management. International management and organization-design expert Henry Mintzenberg says every CEO has three essential duties: direct supervision, development of the organization's strategy, and management of the organization's boundary conditions. Top management's responsibility at and beyond the organization's boundaries is largely a communication responsibility; however, no commonly accepted model exists for decision, execution, and assessment of communication opportunities. Within even some of the largest and most venerable organizations, the process used is haphazard and inconsistent. The Wyatt Company's survey of communications professionals showed that just 58.1 percent agreed that their organization's communication objectives are linked to business objectives, and 83.3 percent reported that their organizations conduct no formal review of return on communications investment. CEOs must establish and reinforce an organization's image in public by viewing each target public as a client; by doing research, looking at trends, and talking to experts, a CEO focuses on selling what the client wants to buy.1

Finding a country to conduct business in can be a very easy task depending on if the organization's top management follows the advice of Mr. Mintzenberg. The way a company normally d...

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...atistics on market for your product (internal production plus imports less

exports)

* Source: Penetrating the International Market, p.27-8.

Bibliography:

1 McGrath, John J. Sell Your CEO! Vital Speeches of the Day. vol. 61-14. May 1, 1995:

444-7.

2 Stuart, Robert Douglas. Penetrating the International Market. American Management

Association. New York 1965: 25-39.

3 Haner, F.T. Multinational Management. Merrill. Columbus, Ohio 1973: 43-58.

4 Ewing, John S. and Meissner, Frank. International Business Management; Readings and

Cases. Wadsworth. Belmont, California. 1964: 146-70.

5 Robinson, Richard D. International Management. Holt, Reinhart and Winston. New York.

1967: 71-85.

6 Morden, Tony. International Culture and Management. Management Decision. vol. 33-2.

1995:16-21.

7 Harris, Philip R. and Moran, Robert T. Managing Cultural Differences. Gulf. Houston,

Texas. 1979: 12-24.

8 Fayerweather, John. International Business Management; A Conceptual Framework.

McGraw-Hill. New York. 1969: 51-64.

9 Haner, F.T. Multinational Management. Merill. Columbus, Ohio. 1973: 60-64.