Question

what do you specifically look for when contemplating a global initiative?

Mgt 448

Answer 1

There are a number of important factors that needs consideration while planning a global initiative. One of the most important factor that should be considered before global initiative is micro and macro environment and market scenario of the foreign market. Market considerations are very important as the success of global initiative depends on them. For a successful global initiative foreign markets should have high demand, low capital and labor expenditure, robust supply chain, friendly government, friendly trade laws, and positive economic outlook. All the above factors need due consideration before planning any global initiative. Apart from above, other important factors while going global is to understand language, culture, customs and traditions, and local laws of the foreign market. Many global initiatives fail because organisations are not able to adapt their products, services, and overall approach according to local tradition and culture of the foreign market. Therefore, these are most important factors that need thorough consideration before planning any global initiative.