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Expanding to New Markets
Discover why and how you should expand your businessPreview the first lesson free — get full access to all 22 lessons.
Essential Provider : Vivian Faustino-Pulliam 22 Lessons · 36m in English
Course Description
The business world continues to grow and be more connected than before. This has caused companies to look at who their competition is differently and expand to new markets. This course will help you identify if you should expand, where you should expand to and strategies for the expansion.
What You'll Learn
- Identify whether your business should expand to new markets based on signals such as sales decline, slow growth, changing buying patterns, and increasing competition
- Assess your company's readiness and the steps to take before expanding
- Examine the global economy, the growth of world trade, key institutions, and trade agreements involved in joining the global economy
- Conduct market research and navigate international financial markets, ecommerce, and the requirements of entering specific markets
- Address political issues and overcome obstacles encountered when expanding into new markets
- Compare market entry strategies including exporting, franchising, joint ventures, licensing, foreign direct investment, and contracting to determine which is best for you
Key Takeaways
- The business world continues to grow and become more connected, prompting companies to view their competition differently and consider expanding to new markets.
- This course helps you identify whether you should expand, where you should expand to, and the strategies to use for the expansion.
- Signals such as sales decline, slow growth, changing buying patterns, and increasing competition can indicate when to consider expanding.
- Joining the global economy involves understanding important institutions, trade agreements, international financial markets, and market research.
- Several entry strategies exist, including exporting, franchising, joint ventures, licensing, foreign direct investment, and contracting, and the course helps you decide which is best for you.
Frequently Asked Questions
What will this course help me decide?
It will help you identify if you should expand, where you should expand to, and strategies for the expansion.
What market entry strategies does the course cover?
The course covers exporting; franchising, joint ventures, and licensing; foreign direct investment; and contracting, and helps you determine which entry strategy is best for you.
What signs that it may be time to expand does the course discuss?
The course discusses sales decline and slow growth, changing buying patterns, and increasing competition, along with readiness and the steps to take before expanding.
What skills does this course focus on?
It focuses on business diversification, business expansion, business strategies, growth strategies, international business strategy, and market penetration.
Does the course cover entering the global economy?
Yes. It covers the global economy and growth of world trade, important institutions to global trade, trade agreements, and the steps to join the global economy.
