Minimize the risks involved in global expansion

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Reference no: EM13995009

It is important to have more than one strategy in mind when pursuing global expansion because of a number of reasons. One, risks and uncertainties, it is difficult to establish explicitly the nature and forces of global market. Therefore, we cannot say we are secure and give high expectations to our chosen strategies. In case we rely on a single strategy, we are likely to suffer great losses when we fail to compete successfully in the crowded global market. To minimize the risks involved in global expansion, we need to have multiple of strategies focusing on business growth and expansion.

Secondly, to maintain high competition in the market; in order to avoid possible kick out in the market or facing the challenge of stagnation, it is important to have many strategies as such that when one fails we can opt another one that is better and more competitive to help us remain in the market while fetching high profits. Finally, to ensure a continuous growth and expansion; with many strategies at hand, it is possible to employ one after the other facilitating a continuous growth and expansion of the company. Company/business expansion provides the basis for growth and improved performance in the market. Therefore, it is essential that managers to observe and decide on best expansion strategies that can build the company reputation and profile.

Reference no: EM13995009

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