Global Business Strategy

Many small and medium enterprises do not have a global business strategy. They might do well to consider an international strategy. Of course many larger enterprises are already extended across the world.

Consider the reach of your business strategy. Deciding this strategy comes after reviewing various options. These will emerge from the issues raised during the SWOT analysis.

Why should small and medium enterprises
consider international strategy?

The world has shrunk to become a ‘global village’. This may sound like a tired cliché. However, the activities of competitors from far afield affect more and more businesses.

  • International transport and freight handling has improved.
  • Information technology has connected remote parts of the globe. The Internet levels the playing field. It enables quite small businesses to have an international strategy.
  • World trade is increasing. Trade barriers are lower in many markets.
  • Many governments support businesses to enter export markets.

Some businesses and politicians adopt a kind of special global business ‘speak’. ‘We must become globally competitive’. We will ‘adopt world best practice’. We will achieve ‘international benchmarks’. Such overused expressions like these make many employees tune out.

There is more to a global strategy than adopting a few catch phrases.

Choices in global business strategy

Businesses that improve productivity, and encourage innovation, are better equipped for international success.

Do not get carried away with the 'global' part of global strategy!

International strategy does not mean a business works in every country.

Global strategy does not mean having company branches in many physical locations overseas.

Many different arrangements can help execute global strategy. These may include various forms of collaborating with others. These others can be international and in the home country. This collaborating may include government and other help with export processes.

What the SWOT analysis reveals may affect some of these decisions.

Key aspects of a global business strategy

  • Ensure basics are in order
    If your current operations have major flaws, do not copy them into different markets. Ensure that your product development, marketing, supply chain, operations, and innovation practices are sound. It should be clear that you have the financial strength to commit to international growth.
  • Strategy
    Decide carefully to have an international business strategy. Do not go international just for the sake of expansion. Use the strategic planning process outlined here at Simply Strategic Planning to make the decisions.
  • Perseverance pays
    First steps into international business can be fraught with uncertainties and problems. Do not let one of your obstacles be your own readiness to give up too quickly.

Why consider international strategy? Not doing so may leave you behind in the race for profits. You may have to leave the game all together!

Return from Global Business Strategy to Business Strategy.

Return to Simply Strategic Planning Home Page.

You can find information, and access to training at the International Business Development Institute.  

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