What questions related to the topics of management objectives, management experience and resources, production capacity, and financial capacity should an entrepreneur consider when assessing his or her readiness for going global?

Question

What will be an ideal response?

Answer 1

The following are important questions that entrepreneurs should consider when assessing their readiness for the challenges of global business: Management ObjectivesWhat are the company's reasons for going global?How committed is top management to going global?How quickly does management expect its international operations to pay off?

Management Experience and ResourcesWhat in-house international expertise does the firm have (international sales experience, language skills, etc.)?Who will be responsible for the company's international operations?How much senior management time should be allocated to the company's global efforts?What organizational structure is required to ensure success abroad?
Production CapacityHow is the present capacity being used?How much additional production capacity will be needed at home and abroad?What product designs and packaging options are required for international markets?
Financial CapacityHow much capital can be committed to international production and marketing?Will the company be able to cover the initial expenses of going global (e.g., the costs of finding customers abroad, expanding production to support international sales)?What other financial demands might compete with plans to internationalize?By what date must the global effort pay for itself?