Description
After reviewing your chapter for this week and Murphy’s 2012 article about culture and the individual in the decision process to expand overseas, consider the following:
Think about a new business venture that you might choose to create. If you were to consider targeting foreign markets as goals of your new venture, what strategy might you choose to apply to do so? Why would you choose one strategy over the other (take into account what product or service you might sell and in which country you may do so)?
Explanation & Answer
Attached.
Running Head: EXPANDING OVERSEES
1
Expanding Oversees
Institutional Affiliation
Date
EXPANDING OVERSEES
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Decision process to expand overseas
There are different strategies available for targeting foreign markets as goals of your new
venture. However, choosing the right strategy will depend on various factors. A consideration I
would take is to understand my options. The strategy I would choose is to know my target
market. In most of the cases, a business fails because they have no options available to target
their market. This makes it possible for their products to match with those of other business
around. This primarily increases competition with the other business. Since you are new in the
market, it would be im...
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