The Pitfalls of Globalization
In Prichard’s article in this week’s materials, he quotes Robert Salomon, a professor of international management. Salomon says: “The problem is that managers systematically overestimate the benefits of globalization and underestimate its costs.” With this comment in mind, think about your company and the overseas country you chose to research in this course.
Imagine that your company’s executive team has decided to expand to the target country that you researched, whether you recommended this course of action or not. Then respond to the prompts below:
-Remind your peers what company and product, and which overseas country you chose for your assignments
-Will your company’s existing business model work in the overseas target country? Why or why not?
-What are the major differences between the culture of your home country and your overseas target country?
-Why might it take longer to establish your business in the overseas target country than your managers expect?
-What advice would you give to the project lead on how to prepare for expansion into this overseas market?