July 7, 2010
Most entrepreneurs are mindful when going global. If a company is doing well in the U.S. then it should consider going global. This will increase their profitability and their market share if properly planned out. Going global may help a company grow, but it can help them survive. Other countries may want the products the U.S. markets consider out dated (Scarborough, 2009).
The best advice I would give Zach is a lot of planning and research. He needs to know the country’s culture and economic status. He also needs to know if the product is what that country looking for. Other countries are looking for niche products for their market (Scarborough, 2009).
One way for a company to go global is to put the business on the internet. This will also give Zach an idea of how well the business would do if he established a land based business abroad (Scarborough, 2009).
One thing Zach has to consider is the shipping. Taxes and tariffs, rules and regulations need to be addressed to see if it is feasible going global. Zach may want to consider using intermediary manufacturer’s export agents, or global trading companies (Scarborough, 2009), to help him with this part of the business.
"For each benefit gained by regulation, there is a cost." What does this mean? This saying means that benefits come with costs. Another way to say this is “to make money you have to spend money.” Paying for the regulations to be in place can be a money maker in the long run. Hence, for every benefit (making money for the business and saving costs for the consumer) there is a cost (paying for the regulation to be placed into action).
First of all, the definition of regulation is a “rule designed to control the conduct of those to whom it applies. Regulations are official rules, and have to be followed” (Investorwords.com, 2010). Regulations are placed to protect businesses, and the consumers. If people and businesses...