International business development
When we lead processes of growth for our clients, we devote a significant period of time to conducting an in-depth examination of the relationship that the company maintains with the international market alongside an in-depth examination of opportunities and growth possibilities that the international market may offer the company.
Naturally, the variety of growth options is very wide and varies according to the company’s vision, capabilities and specific needs.
Carrying out a methodological examination based on familiarity with the characteristics of the company, relationships with consulting offices in most countries of the world.
Access to industry databases and extensive experience in analyzing opportunities abroad, allows us to formulate in a short time a number of targeted recommendations detailing the opportunity in the international market and the possible implementation model.
Here are some examples of activities and models for application for growth in the international market:
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- Expanding the activity to destinations in new geographies
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- Locating business partners, agents and distributors
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- Locating suppliers and/or manufacturers abroad
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- Finding opportunities and tenders in the international arena
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- Creating a presence in the international arena and getting to know markets and key factors abroad
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- Adoption of new products for assimilation in the local market
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- Developing strategic partnerships with local and international companies
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- Complete or partial acquisition of a synergistic company abroad
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- Sale to a strategic buyer or addition of a strategic partner to the company
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- Locating influencers and creating relationships with key players in the industry
After the company’s management approves the action strategy, the process of international business development begins. The business development team dealing with the implementation should have diverse abilities that include the ability to identify and effectively test companies/suppliers/distributors in the target countries, the ability to analyze markets, demand and competition in the target countries, the ability to identify and locate relevant contacts, knowledge of developing a strategic rationale for transactions, familiarity with regulation and the ability to maintain intercultural communication. Controlling these capabilities provides a significant advantage for companies wishing to expand their presence in international markets.
It is commonly thought that business development activity is another way to increase sales. This is certainly true, but beyond that it is an activity whose role is to connect the company with the international business environment at a strategic level and to consistently expose the company’s management to opportunities for business growth in the international arena.