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How to do foreign market entry

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Some of the best practices in terms of how to do foreign market entry, also discussed with the 3M example from class, include all of the following, except:

  1. Initially, focus on one/at most two/ markets
  2. Enter on a relatively small scale
  3. Build strong relationships with local partners and hire local personnel
  4. Go big or go home - ensure a foreign market entry is as large as possible in terms of commitment of resources, in order to capture first mover advantages
  5. Proactively search for export opportunities

Reference no: EM131728630

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