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When businesses should NOT go global

When businesses should NOT go globalIt seems like every company out there wants to go global. There is a lot of hype involved and as we mentioned before, getting local, expert assistance is key to ensuring success of your global ventures.

But as companies rush to become more global, it is easy to overlook how badly many have stumbled in their globalization strategies. The year-old Harvard Business Review article When You Shouldn't Go Global does the kind of analysis that firms should be doing as they evaluate whether or not to expand globally.

What's refreshing about this article is that the authors don't just look at success stories. They also dig up examples of companies that went global and flopped - and then suggest pitfalls to avoid.

It all boils down to three questions to ask before going global:

  1. Could the strategy generate substantial benefits for our firm?
  2. Do we have the capabilities needed to achieve those benefits?
  3. Will the benefits outweigh the costs?
The bottom line: You don't want to move full speed ahead toward failure. Trying to avoid failure may not sound as glamorous as aspiring to great success, but, on the other hand, having your career derailed because of a catastrophe isn't glamorous, either.

[Hat tip to BNET]

Further reading:
ForeignExchange Translations provides specialized translations of quality/process specifications, chemical manufacturing control documents, legal contracts, and HR materials to drug and device companies. Contact us to learn more.
 
 

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