This Section of the research business project will be an introductory section that will assist the reader in recognizing and understanding what the researcher has involved in the research business project and also the structure of this research. This section summarizes the key aspects of research which allows readers to attain an understanding of the aspects of this research which comprise of research topic, aims & objectives, research question, and rationale of this study. Moreover, it also comprises the structure of research in which the researcher will be going to include in the research business’s project in direction to achieve the research objective and answer the research question.
The Challenges of company expansions to different countries
Expansion in the international market is important for the further growth and development of the business in this competitive business environment. Moving global is generally a worthy endeavor, but it also carries numerous challenges such as identifying the ideal market, choosing the correct entry market, hiring and retaining a skilled workforce. According to Onyusheva (2020), expanding your business in different countries assists your business in increasing its customer base, helping in lowering the operational cost, and in increasing its profit and brand value. In support of this Panhans and Kaufmann (2017), stated that global expansion also provides the company a significant competitive advantage counter to their rivalries since sometimes the marketplace in the home nation is saturated and growing in a foreign country permits a company to get admittance in a marketplace where rivalries do not operate. But while expanding the company in different market, it is significant to have a strategy and plan in place to discourse a few of the key challenges company require to overcome to get ahead.
Therefore, it is necessary to conduct research to examine the importance of company expansion, challenges faced by companies during expansion in different countries, and strategies to overcome the challenges.
The aim of this research is to examine the significance of company expansion to different countries, the key challenges of the company expansion to different countries, and to analyze the strategies to overcome the challenges. Below mention is a few of the specific research objectives which support the researcher in gaining the research outcomes and solving the research concern:
- Identifying the significance of company expansion to different countries
- Recognizing the challenges of company expansion to different countries
- Identifying the key strategies company can adopt to overcome the challenges to company expansion to different countries
The research question in this study states the aims which have to be responded to; furthermore, the research question purposes to discourse the problem statement which has to be resolved with the help of data analysis, interpretation of collected data, developing correct findings, and concluding the research. Below stated are the three research questions of the study which comprise the research problem or concern:
Research Background and Rationale
Question 1: Why it is important for the company to expand business in different countries?
Question 2: What are the challenges to company expansion to different countries?
Question 3: What are the strategies company can adopt to overcome the challenges faced during international expansion?
This study is following five components of research that is an introduction, Literature review, research methodology, data analysis, conclusion, and recommendations. These are the following chapters that the researcher will use to accomplish this study. The first chapter is the introduction which comprises the significant component of research such as the research topic, background and rationale, purpose of the research, the research questions, and the structure of the thesis. Furthermore, the second chapter is a literature review that aids in helping the researcher in critically executing arguments with the pertinent concepts and includes pieces of types of literature to add them in developing new effective and accurate data which supports in completing the research objective and resolve the concern. Furthermore, there are few genuine sources from where the researcher can attain data and information, those are journals, books, and articles. Moreover, the third chapter is a research methodology that purposes to include the tools of research methodology which support the researcher to get the research objective and conduct effective research. The fourth chapter of the research is data analysis which supports in assessing the collected data or information in an efficient way in direction to gain a reliable result. Furthermore, the fifth chapter of the report is the conclusion and recommendation which support the researcher in concluding the complete investigation based on findings. Additionally, the recommendation section will include the suggestions which the researcher has to provide for their future study or to support further readers.
This section will support in attaining an understanding concerning the present matter and research concern. Literature review denotes the collection of data and information from genuine sources and gathering data from the current researches linked to the present topic and which helps in contributing a few pieces of evidence or scraps of indication to the research concern and achieving the research objective (Synder, 2019). This section of the research will also support understanding the background of the topic systematically, the significance of company expansion to different countries, the challenges of the company expansion in different countries, and the strategies company can adopt to overcome the challenges. Thus, it will help research scholars to discover reasonable outcomes, accomplish the aim of the research, and contribute to findings to get a feasible result.
Aims and Objectives
Identifying The Significance Of Company Expansion To Different Countries
According to Albano (2020) in spite of the international economic recession triggered by Covid-19, research originates that 45% of respondents were either presently increasing their company in the global market or were forecasting to do so inside the following year or so. Whereas the research stated that attaining a larger market share was mentioned as the topmost aim to expand globally, there was also interest from businesses to enlarge their sales, spread investments, and obtain talent from across the international market. Though businesses are mainly encouraged to expand their company foreign to make more income, there are numerous aids to going international, particularly as the continuing covid-19 disaster reveals a new digital age and a change in customer trends.
In support of this, Rossum (2017) stated that in the present international economy, the business of all sizes is starting processes in overseas marketplaces. This kind of development can deliver numerous benefits, comprising better opportunities for marketplace growth and diversification. The drift of Americans going worldwide is also probable to continue. An investigation by Wells Fargo originates that 87 % of united states companies trust that global expansion is necessary for long-standing progress (Wells Fargo, 2016).
On contrary to this, Haron (2015) argued that the absolute influence of doing business internationally on a bigger audience blindfolds numerous corporate players in the worldwide marketplace. As an outcome, numerous of them are uninformed of the challenges and issues posed by global corporate issues. These worldwide corporate problems frequently edge along economic, environmental and political outlines. Though undertaking business globally poses countless opportunities, it is not deprived of its reasonable share of challenges and risks as those practiced by other segments susceptible to the play of the marketplace forces.
According to Lynch and Jin (2016), company expansion in different countries help the business in attaining several advantages such as increase in revenue and savings as selling your product in foreign markets surpasses the number of potential customers, therefore providing a better upsurge in profit and while growing internationally proposes healthier opportunities for attaining revenues, it also permits for inexpensive costs. Frequently, it is cheaper to do business overseas since companies can decrease production costs in extra reasonable nations. In supporting to this Dinu (20), observed that company expansion to different countries also support them in providing a more extensive customer base which ultimately helping company in gaining opportunities for development.
Recognizing The Challenges Of Company Expansion To Different Countries
According to Pattnaik, Singh and Gaur (2021) as business develop and expand into new market, so too do their obedience responsibilities. Meeting local guidelines, tax responsibilities and laws can surely become multifaceted as the business’s footmark and personnel expand. In support to this Kaelberer (2017) stated a real-life example of Walmart failure in Germany market. Walmart has opened 85 shops in an effort to tap into the frugal state’s profitable discount department marketplace. But with complicated labour laws, restricted corporate hours and rows upon rows of governing red tape, the marketplace was tougher to crack than the US retail giant expected (kaelberer, 2018).
According to Buckley (2016), setting the cost for your goods and services can brings challenges when undertaking company in foreign market and would be additional key consideration of your approach and tactics. Companies should consider price of goods and services to continue competitive, whereas still safeguarding revenue. Investigating the costs of straight, local-market rivalries can provide company a benchmark. For illustration, the cost of manufacture and transport, labour, promotion, and supply, also the profit margin of company, should be a taken into interpretation for your corporate to be feasible. In support to this Cosgrave (2014) taxi service app Hailo has decided to shut down its processes in North America in the face of “astronomical” promotion costs and penetrating competition from competing organization such as Uber. As uber is the key competitor who is providing low price service which Hailo can’t afford to meet which led to the failure in North America marketplace.
According to Ahmmad (2017), hiring and retaining talent is a significant part while expanding the business in different countries. Efficient employees deliver an introductory knowledge base, and also help company in attaining the desired result inside a region. During the time of business expansion in different countries without having this skilled labour force and efficient employees the threat of expansion failure will be more. Numerous businesses make the fault of launching in a novel marketplace deprived of acquisition any local staff member. Every single marketplace is diverse, so partaking local persons on the team is valuable since they can describe the customs and conducts exclusive to the specific marketplace where company is expanding its business.
According to Guercini and Milanesi (2018), state that products and services are produced to meet a specific requirement or want. It is not compulsory that need and requirement of any particular country for example UK will also have the demand in China and India. Different nations are at dissimilar phases of economic progress, and the requirement or desire we partake may not have advanced in sufficient other nations to make a feasible target marketplace. Furthermore, different countries have diverse cultures and dissimilar foods choice, habits, lifestyle, fashion etc. Company expanding in different countries need to plan and forecast the demand and need of that specific market where company is planning to expand and then develop and transform the product and services which company is going to serve in the new market.
Structure of the Thesis
In support to this Martin, Veiga and Galhera (2021) has stated a real-life example of the Walmart in which during its expansion to different countries, company has failed encounter and meet the need of the customers in some of the market such as in south Korea and Germany where company has prompted and start selling the groceries items for lower prices which has a negative impact as customer linked low prices with cheap quality which make them concerned regarding their shopping at Walmart.
Identifying The Key Strategies Company Can Adopt To Overcome From The Challenges To Company Expansion To Different Countries
According to Twarowska and Kakol (2013), observed that while expanding the business into different countries every company has to identify the target market and an overseas market which is effective and efficient for the expansion of the company. So, to identify a perfect overseas market business have to conduct an external analysis of potential selected markets to choose specific market to expand. External analysis will help company in identifying the economic condition of the market, legal aspect company have to follow in that market, political stability and other factors. For external analysis business can adopt the PESTLE framework to examine the macro environment factors.
In support to this Dragnic (2014), also stated that while expanding your business both internal and external analysis is import to identify the micro and macro environment factor which can influence the business expansion into different countries.
According to Sadalia, Muharam and Mulyana (2020), while expanding your business in different countries it is important to select a correct market entry method according to the marketplace condition. Market entry approaches permit businesses to offer their goods in global marketplaces. Since there are numerous approaches, businesses can use to sell their products internationally, they can select an appropriate method constructed on their goals and target marketplace. Understanding the diverse marketplace entry approaches can support you choose which one offers the utmost advantages to your business.
According to Jun et al. (2019) while company expansion to different countries every business has to select the appropriate organization structure for their global corporation. Recognizing the kind of corporate entity and founding the suitable governance structure constructed on entity rules is one of the utmost significant obedience choices made. Businesses should recognize the diverse entity choices obtainable in that nation and what is essential to sustain compliance. These can comprise primary investment necessities, precise governance structures, home-grown existence supplies, home-grown employment heights, tax allegations, etc.
In contrary to this Onyusheva (2020) stated that expanding into a different country needs learning regarding the cultures inside and how they may observe your brand. If company need their expansion to be fruitful, you’ll require to appeal to the individuals you will be targeting as your customer. Company needs to discover out about the new country tradition, their standards, beliefs, holidays, and other cultural differences company need to adopt. Company needs to research the need of the new market and also the have to prepare effective and efficient price strategy to many the competitive advantage from the competitors of that market. Moreover, company also have to prepare strategy for the human talent require in new market. Also, there is frequently a multitude of obedience necessities and deliberations when hiring workforces, comprising employee’s compensation, benefits, salaries, cultural standards, and other particulars value knowing.
This chapter of research perform a significant role in choosing the correct method for the thesis and recognise the numerous approach and techniques which help researcher to effectively and efficiently organise the study and attain the research findings. These approaches and methods support in collecting the data and information reliably.
The researcher has selected the positivism approach which is greatest appropriate for this thesis and for collecting reasonable data. Positivism research viewpoint denotes to the process of assembling data over which the researcher attains information of the social world in an impartial way (Pawlikowski, Rico and Van, 2018). Moreover, this thesis will help the researchers to trail the objective examination for collecting the data and interpretate the accomplished data consequently. In contrast to this, the realism concept purposes are to gather data founded on realism and confidence though identifying the individuals. While, interpretivism research concept helps in gathering the data from the participants who contribute to the study and supports in conquering the research results. But in this research and study, positivism is appropriate as this research needs the requires understanding of the social regulations and methodically gathers data that comprises numerous standards and works of individuals (Pham, 2018) (other researchers/secondary data).
Research Design And Type
Research design supports in selecting numerous methods to collect data in order to examine and assess them further in direction to achieve the research results and findings. Descriptive, explanatory, and exploratory research are main kinds of research designs are followed to complete the research consistently and realistically. According to this research, the scholar has selected the exploratory research design since this design supports in gaining the broad range of data on the associated topics of study and it helps in exploring the causes and effects which is involved in the research matter (Chouinard et al. 2019). In addition, it helps in exploring and acquiring deep knowledge about the concept.
Research methodology comprise of 2 kinds of research types which support in starting the complete research thesis and it allows researcher to recognize specific designs for directing the study. The qualitative research approach is finest appropriate and proper for completing this thesis as the researcher is directing to collect data and information through adopting the secondary sources of gathering data and using observations in direction to accomplish the thesis descriptively (Tuffour, 2017). The qualitative research type emphases on collecting the data on theoretic or non-numerical related with the exploratory research design in direction to gather easy-to-read data on the study matter and allows the researcher to collect data from the explanations and further on (Clark and Veale, 2018). On the other side, quantitative research design is not appropriate as it supports in collecting the numerical data with the suitable practice of numerical, investigational, mathematical, etc., which is not necessarily significant for this study.
During the time of selecting the sources of data for the research; mainly, there are 2 kinds of information and datal gathering method which are secondary data collection and primary data collection. Secondary data gathering supports in assembling the information and data from the previously published source such as books, journals, reports, online and offline sources such as websites and new articles, articles, concepts, theories, newspapers, and more (Johnston, 2017). On the other side, the primary source of information gathering supports in assembling the data from the participant in direction to collect fresh, satisfactory, and present data – pertinent to the present research substance and it comprises numerous methods to collect data for conducting the research such as action study, group discussion, surveys via questionnaire, case study, etc (Heap and Waters, 2019).
While in this research, the researcher has selected secondary research of assembling data in direction to collect the background data on the topic. Moreover, this method of research supports in attaining correct data and complete the research findings.
For completing the study, there are numerous methods of data analysis which the researcher can adopt for example disclosure analysis, thematic/content analysis, conversational analysis, statistical analysis, etc. The research investigator has selected a secondary source of information gathering for collecting data and directing to select qualitative analysis for practising observations in direction to accomplish the research in a descriptive way in its place of an analytical way.
Consequently, thematic analysis is the finest appropriate method to analyse data with the consideration to a secondary source of the information gathering approach (Teryy et al. 2017). Moreover, thematic analysis is denoting to the gathering of information with the theoretical argument of the research being based on the important research questions – which efficiently supports to collect pertinent data on the study topic and theme.
For accomplishment of the accomplishment of the research purpose, there are numerous approaches for example literature review, questionnaire, observation, experiment, interview, survey, focused group, case study, etc.
In this research study, the research investigator has selected literature review of existing studies in direction to comprise an academic context in the study and efficiently complete the research objective via adopting the descriptive analysis in the study. Furthermore, the practice of these approaches supports in judgmentally argue on the study matter and realistically collect contextual and theoretical data in the research to make the research communicative and complete the research purpose consequently.
As the study is secondary and comprised of lawful resources which need time and determination to study the former material associated to the research substance – which can also impact the quality of research. Furthermore, it is hard to discover out efficient data from the former researches and it can also be small and imprecise which can be according to the previous time period and conditions.
Discussing to this study, delimitations are previously has been designed by the research investigator in direction to evade the fights and perhaps whole objective. Therefore, the researcher has identified research objectives for completing the complete research while covering all the objectives and purpose; whereas, research questions are designed while considering the problem of the research – which requires to be solved with the support of precise findings and discussion.
Data Analysis And Findings
This section supports in examining the precise outcomes in accordance with the research questions and problems while implementing the theoretical and theoretical outline – which will also contribute to making an efficient finding and concluding the study – also, deep consideration of the research matter together with completing the research objective and undertaking the research concern. The chapter is arranged into three portions in direction to analyse the complete information which has been collected by the researcher. The first part is Identifying the significance of company expansion to different countries; second is recognizing the challenges of company expansion to different countries; third one is the Identifying the key strategies company can adopt to overcome from the challenges to company expansion to different countries.
Identifying The Significance Of Company Expansion To Different Countries
According to the research which supported researcher in recognising the significance of the company expansion in international market or new market it has been recognised that moving towards the global market is a vital element in the economic development of the business in the period where competition level is on peak. Also, in the era of economic globalization which has permitted for trade liberalisation and incorporation, a concept of internationalisation partakes an important influence on modern enterprises (Szymczyk, 2020).
As per the views of Rossum (2017), it has been examined that in current global market economy every business begins their expansion in global market. Companies’ expansion in to new marketplace providing them with several advantage such as business growth and diversification. Most of the American companies are adopting this international business expansion at a very rapid phase. Also, according to the study of Well Fargo (2016) it has been observed that around 87 percent organization are agreed that company expansion is essential for the long-term growth of business. Also, on the other hand researcher has examined from the above discussion that businesses are more encouraged to expand their company foreign to make more income, there are numerous aids to going international, particularly as the continuing covid-19 disaster reveals a new digital age and a change in customer trends.
In support to this Matovic (2019), has stated that globalization of world corporates, international liberalization of economic guidelines and the removal of barricades to overseas capital entry, direct to global development of entrepreneurship in nearly all nations in the global market today. Global marketplace proposes entrepreneurs significantly larger corporate opportunities, than limiting their corporate to the local marketplace only. Few of the choices are: attaining economies of scale, admittance to a new atmosphere that raises origination and growth, and meeting forward-thinking technologies and information. All this allows entrepreneurs to upsurge competitiveness, more progress and growth, upsurge effectiveness, and many other tactical advantages.
Moreover, the findings of the above analysis and examination it has been observed that at present era every business need to expand its business to different market to enhance the customer base, revenue, development etc. Also, to be in the top among the competitor business need to expand it business as studies stated that after covid-19 period business are more rapidly shifting to global expansion to recover their loss due to the impact of pandemic situation.
Recognizing The Challenges Of Company Expansion To Different Countries
According to the researcher it has been observed that going worldwide is generally a valuable endeavour, but it does also carry with it few issues and challenges. Businesses that are concerned in taking their corporate worldwide, it is vital you partake a strategy in place to discourse few of the important hurdle’s business will require to overcome to prosper.
As per the views of Pattnaik, singh and Gaur (2021) it has been observed that while moving to the international market company face numerous challenges which are meeting local government laws and regulations, tax responsibilities, environment condition, social factors, Covid-19 restrictions etc. This factor can surely become multifaceted as the business’s footmark and personnel expand. In support to above observation Kaelberer (2017) stated a real-life example of Walmart failure in Germany market. The main reason of the failure is due to the Germany complicated labour laws, restricted corporate hours and rows upon rows of governing red tape, the marketplace was tougher to crack than the US retail giant expected.
Also, as per the observation of Buckley (2016), it has been identified that setting the price of product and services can be another challenge for business who are thinking to expand their business in international market. Businesses must consider price of goods and services to remain competitive in new market where company is planning to expand its business, whereas still safeguarding profits. Examining the costs of straight, local-market rivalries can deliver business a benchmark. In this regard a real-life illustration has been examined the of the company Hailo which is providing the taxi service in North America has failed to expand its business due to the face of “astronomical” promotion costs and penetrating competition from competing organization such as Uber. As uber is the key competitor who is providing low price service which Hailo can’t afford to meet which led to the failure in North America marketplace.
Moreover, in another research by Ahmmad (2017), has observed that while companies’ expansion to different countries hiring and retaining talent is an important part. According to this study, at the time of business expansion in international market without having a skilled workforce and efficient employees’ chances of failure is increased. In contrast to this Jooss, Burbach and Ruel (2019), if any business setting up business in new international market, it’s frequently ample extra money-making to hire from the local residents. They not only partake the necessary skills you require but also a healthier understanding of that area’s culture and customer base. Also, many businesses plan to expand their business in particular market due to the availability of skilled workforce and cheap workforce in particular market.
As per the views of Guercini and Milanesi (2018) and Veiga and Galhera (2021) it has been observed that while expanding the business in international market comes with several benefits such as larger customer base, increase in sales and profits, upsurge brand reputation and status, etc. However, while company expanding to the different company it will also observe numerous challenges which company need to overcome for the successful expansion. The key challenges which every business faced are international business structure, overseas laws and regulations, global accounting, international pricing strategy, currency rates, political stability, supply chain complexity and environmental issues.
Moreover, the findings of the above analysis and examination it has been observed that as businesses develop and expand into new countries, so too do their obedience errands. Meeting home-grown rules, tax responsibilities and guidelines can surely become multifaceted as the corporate footprint and staff enlarge. Furthermore, employing talent from overseas and retaining an intelligence of business culture can be stimulating when increasing from a business’s headquarters into novel global marketplace. From making certain selection procedures obey with local regulations, to safeguarding that there is an allocation being encountered for local hires and overseas talent, meeting home-grown rules and necessities can even test the strongest of talent acquisition approaches.
From the analysis it has been also observed that each phase of workforce administration needs the correct procedure and technology. Though few aspects of your business's current approach to workforce management might work foreign, others might not encounter the unique governing necessities of overseas marketplaces. There are few other factors also like the technology development in the new market where company is planning to expand, environmental factors also influence the business and also the behavioural factor of the target audience of the foreign market.
Identifying The Key Strategies Company Can Adopt To Overcome From The Challenges To Company Expansion To Different Countries.
As per the views of Twarowska and Kakol (2013), it has been observed that the major challenge which business faced during the expansion in different countries is due to the ineffective identification of the foreign market. Before moving towards the expansion every business need to plan and prepare strategy related to the identify which market location is an ideal location for the business. According to the research to identify the ideal marketplace for business expansion, every business can go with internal and external analysis which will examine the micro and macro environment of the business. Furthermore, to examine the internal and external environment of the business the tool business can adopts are SWOT and PESTLE analysis.
Also, as per the views of Sadalia, Muharam and Mulyana (2020), selecting a correct market entry method plays a significant role. There are numerous ways companies can sell their goods in global marketplaces. The utmost suitable technique will hinge on the corporate, its goods, the result of its Marketing Environment examination and its Marketing Strategy. Market entry tactics authorize companies to offer their goods in international marketplaces. Since there are many methods, businesses can adopt to sell their services and products internationally, they can pick an appropriate method constructed on their goals and target marketplace. Understanding the diverse marketplace entry approaches can support you choose which one offers the utmost advantages to your business.
In support to this Lim (2019), observed that understanding the dissimilar market entry approaches can support you choose which one offers the maximum advantages to your business. To choose an efficient strategy, businesses align their finances with their goods considerations, which frequently progresses their chances of growing income. According to the study there are various marketing strategies available such as Exporting, Licensing, Joint Ventures, franchising, Outsourcing, greenfield investment and business ownership.
Moreover, according to the study of Jun et al. (2019), at the time of international expansion to diverse countries every business has to choose the suitable organization structure for their international business setup. Identifying the kind of corporate entity and founding the suitable governance structure built on entity guidelines is one of the utmost significant obedience choices made. Businesses should recognize the diverse entity choices obtainable in that nation and what is essential to sustain compliance. These can comprise primary investment necessities, precise governance structures, home-grown existence supplies, home-grown employment heights, tax allegations, etc.
Furthermore, according to the Onyusheva (2020), it has been observed that while expanding the business into new market business requires learning concerning the cultures inside and how they may perceive your brand. If company need their expansion to be fruitful, you’ll require to appeal to the individuals you will be targeting as your customer. Company needs to discover out about the new country tradition, their standards, beliefs, holidays, and other cultural differences company need to adopt. Company needs to research the need of the new marketplace and also the partake to make efficient and well-organized price approach to numerous the competitive benefit from the competitors of that marketplace. Furthermore, business also partake to make strategy for the human talent require in new marketplace. Also, there is frequently a multitude of obedience necessities and deliberations when hiring workforces, comprising employee’s compensation, benefits, salaries, cultural standards, and other particulars value knowing.
Moreover, the findings of the above analysis and examination it has been observed that the first strategy business need to adopt is market analysis of both macro and micro with the tools such as PESTLE and SWOT analysis. Furthermore, business also need to prepare the strategy regarding the selection of ideal marketplace for the expansion. Moreover, while the study also stated that the market entrance strategy also helps the company in overcome the barrier of international barrier. As correct market entry approach can help the company in reducing the risks of the business, assist in employing the effective and skilled talent force.
Also, according to the analysis, it has been observed that company has to prepare strategy regarding the appropriate organization structure for their global corporation. Recognizing the kind of corporate entity and founding the suitable governance structure constructed on entity rules is one of the utmost significant obedience choices made.
Considering the findings of the study, it can be concluded that it is necessary to examine the significance and challenges of the company during the expansion to different countries. Moreover, it will help in analyzing adequate strategies for the companies who are planning to expand their business in different countries. These strategies will help in overcoming the challenges which companies faced during the international expansion to different markets.
The researcher has chosen secondary data for this study to adequately analyze the studies of different researchers to examine the basic significance and challenges of the company which occur during the expansion of the organization to the international marketplace. Examining the prior studies will help in identifying the strategies which will help the company in its global expansion fruitfully.
As per the findings it can be stated that the importance of company expansion to different countries has risen in the current era. By expanding the business in a new market, the company will be able to decrease its operational cost and save more funds. Also, during the expansion of business to the different company the option of shifting some of the production cost to another marketplace due to the cheaper workforce cost and extra skilled workforce availability can be an advantageous move.
This research also concludes that while having the significance of business expansion to different countries, the company have to face numerous challenges such as selection of an ideal market through market analysis, difficulty in marketing entry strategy, and also meeting the local guidelines, tax responsibilities and laws can surely become multifaceted as the business’s footmark and personnel expand. Also, it has been concluded that during the expansion business also faced the issue in retaining and hiring the skilled workforce. Also, as per the study company expansion to different countries, every business has to select the appropriate organization structure for their global corporation. Recognizing the kind of corporate entity and founding the suitable governance structure constructed on entity rules is one of the utmost significant obedience choices made.
Moreover, as per the findings and analysis of the challenges business faced during the expansion research has also examined the strategies businesses need to adapt to overcome the expansion challenges. Therefore, the key strategies research has concluded are planning for the ideal location, identification of market entry strategy, planning for the acquisition for skilled talent and also the selection of appropriate organization structure according to the new market situations.
As per this study, the researcher has effectively included the significance and challenges for company expansion to different countries. This section also included the strategies or techniques which will help in expanding the company in international market. Nevertheless, the researcher has to suggest some more points those are significant for this study in help the researcher in the future; if the researcher will get any chance to modify this study or conduct a similar study. The researcher has to suggest that in the future study on a similar topic the investigator can select the specific company and country for a better understanding of the topic. Selecting a specific company and country can significantly highlight the challenges business-facing and strategies business is adopting to have a successful international expansion.
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