“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 well.
“I have 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.