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Going Global A Practical Guide by Mind Map: Going Global
A Practical Guide
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Going Global A Practical Guide

The Going Global Environment

Why firms go International

Initiation of Internationalization, Internationalisation motives, Reactive motives, Competitive Pressures, Saturated or Small Domestic Market, Excess capacity/Over production, Unsolicited foreign orders, Seasonal products Demand, Proximity to International Customers/Psychological Distance, Proactive motives, Managerial Urges, Profit and Growth Goals, Technology Competence/Uniqueness of Product or service, Foreign Market Opportunities, Economies of Scale, Tax benefits

Triggers of Export Initiation, Internal Triggers, Perceptive Managers, Internal Change events, Inward/Outward Internationalization, External Triggers, Market demand, Competiting Firms, Role of Trade Associations, Role of Experts/Consultants

Theories of Internationalisation

Uppasala Internationalization model

Transaction Cost Theory

Network model

Internationalization of SMEs

The concept of Born Globals

Internationalization of services

Traditional Marketing Approach

Life cycle Concept

Dunning's eclectic approach, Ownership Advantages, Locational Advantages, Internationalization Advantages

The Environment of International Trade

Theories of economic development, Import Substitution model, Export Led Growth

The International Trade system

Multilateral Institutions, Role of the WTO

Protectionism, Old Protectionism, Import Duty, Import Ban, Quotas, New Protectionism, Negotiations, Bilateral Trade Restrictions, VERs, Anti-Dumping Legislation

Regional Trade Areas, FTAs, Customs Union, Common Markets, Economic Union

Internationalization Barriers

Insufficient financial resources

Insufficient Knowledge

Lack of Foreign Market contacts

Lack of Productive capacity for Foreign Markets

Lack of Foreign Channels of Distribution

Management Emphasis on Domestic Markets

Cost due to Higher export manufacturing costs/Distribution costs/Finance costs

Understanding your company

Understanding the Strategic position of the company

Organization’s Background and Profile

Analysis of the internal strategic capability

Analysis of the External Environment

Industry Profiling, Industry Analysis Checklist

Global Readiness, Suitability of products/Services for Internationalization

Company resources and Capabilities

Characteristics of the International firm, Goals & objectives, Size of the firm, Location, Technology and Innovation, Products and services, Access to resources

Management of the International firm, Attitudes to Company Growth, Style of Managers, Aspirations, commitment and expectations of Managers

Company resources in the Business System, Ability to earn profits, Successful CA over Rivals, Sources of CA, Ability to reduce costs, Labour Costs, Manufacturing Scale and Technology, Exchange Rate Fluctuations, Ability to differentiate in ways customers appreciate, Attractiveness of the Industry

The Search for New Markets

The Search for new markets

Identify high potential country markets, Gradual Elimination, Indexing and Ranking, Use of Variables to estimate market potential, Selection of criteria/variables to rank the countries

Selection of criteria/variables to rank the countries

Market evaluation

Indicators of Globalisation, How good are the Country Fundamentals?, How open is it to Foreign Trade, Globalization Index, KOF index of Globalization, How is it doing in terms of International Trade?, Main suppliers, Main customers, Features of Globalization, Reduction of Trade Barriers, Integration of Financial Markets, Role of MNEs, Simultaneous competition in markets, Interdependence of all dimensions of Globalization, Compression of Time and Distance, Multiplication of Free Trade agreements, FDI, Linkages between Trade and Direct Investment

Global Market Opportunity Assessment

Estimating demand in emerging markets

Process for Assessing global markets, Organizational Readiness to Internationalize, What do we gain from going Global?, Is going Global consistent with other company goals, now or in future?, What demands will this place on firm?, What is the Basis of the firm's CA?, Suitability of Firm Products and services for Foreign Markets, Do we sell well in Domestic Markets?, Cater to Universal Needs, Address a specific need?, Address an emergent need, Product Potential, Who buys the product?, Who uses the product?, Why do they buy the product?, Where do they buy the product?, What social/economic/cultural factors may limit sales?, Market potential Analysis, Size of the Industry, Trends in the Industry, Tariffs and Non Tariff Barriers, Standards and Regulation, Availabilty of Distribution Channels, Industry Specific Market potential Indicators

Country Screening Process, Sourcing potential, Competitive Environment, Intensity of Competition, Cost of doing Business, Growth Prospects, Country Risk, Government Incentives

Industry/Market Potential Assessment, Practical Market potential Analysis, Trend Analysis, Monitoring Industry specific Indicators, Monitoring Key Competitors, Following Key Customers into Markets, Tapping Into Supplier Networks

Choosing overseas Partners, Choose Foreign Partners

Estimate firm's Company Sales Potential

Market Analysis

Market segmentation

Target Market Selection

Trends and Drivers

Buyer Behaviour

Competitor Analysis

Estimate of Annual Sales

Perform an in-Depth Market Analysis of the two best markets

Contacts in markets

Market and Company Sales Potential

Competitive Analysis

Country Entry Conditions, Import Regulations, Foreign Direct Investment (FDI) Regulations

Financial and Market Entry Conditions

Determining the best Target Market Country

Market Segmentation, Untitled, Selection of Target Market, Target Market Size and Trends, Buyer Behaviour

Competitive Analysis, Identification of Direct Competitors, Identification of Indirect Competitors, Identification of Future Competitors

Creating an Entry Strategy

Entry modes

Strategies to Choose entry modes, Transaction cost Approach, Factors influencing choice of entry modes, Internal Factors, Size of the Firm, International Experience, Product/Service, External Factors, Socio-Cultural Distance between Home/Host Country, Country Risk/Uncertain Demand, Size of Market, Trade Barriers, Intensity of Competition, Entry Mode Desirable Characteristics, Level of Risk, Control, Flexibilty, Transaction Specific Behaviour, Know How Transfer

Market entry by Alliances, Nature of alliances, Marketing Partnership agreements, Selecting an alliance partner, Evaluation of Alliances, Licensing as an entry mode, Franchising, Joint Ventures

Market Entry by Acquisition & Direct Investment, Acquisition, Foreign Direct Investment, Motives for FDI, Evaluation of FDI and Acquisition

Product Market Strategy

Target market

Pricing Strategy and Plan

Promotional Strategy and Plan

Global Marketing Budget

Distribution Strategy and Plan

Distribution decisions

External determinants of Channel decisions

Structure of Channel

Managing Logistics

Implications of the Internet for Distribution

International retailing

The financial strategy

Organization of Global Marketing Functions

Creating the Functional Structure, International Divisional Structure, Product Divisional Structure, Geographic Structure, Matrix Structure, Global Account Management Organization

Design of a control System

The Global Marketing Management System

Module 1 Company Situation Analysis

Company Analysis, ) Company Background, b) Company Mission Statement, c) Sales and profit for the last three years, d) Company’s corporate-level strategies, Briefly describe the company's scope, diversification of products and the markets for those products and global involvement strategies:, e) Product line/service or strategic business unit, If the company chosen has more than one product line/service or more than one strategic business unit, select one of them, and briefly describe it:, f) Company’s business-level strategies, What is your company's business level strategy (Cost Leadership- low price, product/service differentiation , focused differentiation- niche, other? Explain

International Involvement, a) Is the company involved internationally?, YES! If you answered "YES", identify the methods of international involvement for your company and its competitors., NO! If you answered "NO", identify the methods of international involvement of your company’s competitors only., Method(s) of international involvement Find all that apply to your competitiors and your company, InDirect Exporting, Direct Exporting, Overseas Sales Subsidiary, Overseas Marketing Subsidiary, Joint Venture (Manufacturing), Joint Venture (Marketing), Wholly-owned Manufacturing Subsidiary, Contract Manufacturing, Management Contract, Licensing, Franchising, Company Owned Retail Store, E-Commerce, Importing (Final product), Importing (Importing component parts), Offshore Call Centers, Foreign Retailer Acquisitions, Currently Not Involved Internationally, Competitors, List the details of three competitors

How is the international function organized, Within Sales/Marketing Team, International Division, Separate Import/Export Department, International Logistics Team, Global Structure by - Product, Global Structure by - Area, Global Structure by - Function, No current international function

International experience, No Experience, 5 or more years of International Experience, Less than 5 years of International Experience

1.3 Industry Analysis, To analyze the competiveness of the industry, use Porter’s five forces framework. Mention the impact each force has on competition, profit potential, and demand for the product/service. Be brief and to the point, Threat of new entrants, 2. Threat of substitutes, 3. Determinants of supplier power, 4. Determinants of buyer power, 5. Determinants of competitive rivalry, 1.3 b) What were the industry’s sales and growth rates in the last two year

1.4 Target Market Profile, Describe the end user of the product/service Include gender, age, income, education, life style, etc. How often does the end user purchase the product (daily, weekly, monthly, other)? Explain, Is the end user of the product in the foreign market the same as in the domestic market? Explain

1.5 Product Profile, Is the product/service a consumer or industrial good/service?, What are the key advantages and disadvantages of the product/service?, What is the selling price of the company’s product/service?, How does your company’s product compare to competition in terms of quality and price?, High/Medium/Low, What is the technology level of your company’s product/service?, What stage of the product life cycle is the company currently in?, Product Life Cycle, International Cycle

Global Readiness

Module 2 Selecting country markets

Module 3 Indepth Analysis of Top Markets

Module 4 Create an Entry Strategy

Documents for International Trade

The Harmonized System

Incoterms

Documents for Foreign Trade

Methods of International payment

Export Insurance

Checklist for Export operation

Useful resources and databases

Databases in International Business

Glossary of Terms

Case Studies