“If you don’t drive your business, you will be driven out of
business. “ – B.C. Forbes. One of the most effective way to drive our business
is going global. Internationalization of business help the organization to gain variety of
customers for various regions. It helps to strengthen the customer stack by
boosting our business in multiple regions.
In software development, there are several advantages of going
global/ international. Internationalization can help us with product
flexibility. Sometimes a product don’t do remarkable sale in
their local or regional market, but international businesses may find a
much better client base in international market. Thus, if we have a global
presence, we don’t need to dump our unsold stock of products at deep
discounts in the local market. We get an option for selling our product at a
higher price in some new markets. An organization having international business
may also find new products to sell internationally which they don’t offer in
the local markets. International businesses have a wider audience and we can
sell a larger range of products or services.
Internationalization also helps in reducing competition in
markets. Since competition can be a local phenomenon, international markets can
have less competition where the business can capture a market share quickly. Most of the time this factor is advantageous when high quality and
superior products are available. Local organizations may have the same quality
products, but the international business may have little competition in a
market where an inferior product is available.
Internationalization assures protection from National Trends and
events. Marketing in multiple countries reduce the vulnerability to events of
one nation. For
example, the social, political, religious and
geographical factors that negatively affect a country may be offset by
marketing the same product in a different country. However, by marketing
internationally we can minimize the risks which are disrupt our business.
Internationalization is the most
effective way to
learn and follow new techniques and methods in business. Going global and doing business
in multiple regions can offer us great insight to learn and implement innovative and
creative methods and ways to accomplish our various business operations. The
new knowledge and experience can pave ways to success in other markets as
found no greater satisfaction than achieving success through honest dealing and
strict adherence to the view that, for you to gain, those you deal with should
gain as well.” - Alan Greenspan.