Business Expansion
While some entrepreneurs have a valid reason and perhaps valid opportunities to expand their businesses, such a move could have its own unique pitfalls if not well executed. Some of the things to watch out for when expanding a business entity include, but they are not limited to, the most appropriate business form to embrace, the best financing avenues to explore, and the most workable long-term strategy to implement.
There are a number of steps that Kelly should take to prioritize her business growth strategy. One of these, according to Liabotis (2007) is implementing a valid customer growth strategy. Some of the customer growth strategies that Liabotis mentions include, core business driven growth, the sub-segmentation of customers, and further exploitation of adjacent opportunities. Kelly also ought to enhance her market knowledge. This she could do by sourcing for insight from both existing and target clients and familiarizing herself further with the sales process.
The most sensible business form Kelly should adopt at this point is a partnership. This is more so the case given that this business form could considerably bring down Kelly's expansion costs and enhance her borrowing capacity. With a partnership, Kelly will also have a wider pool of not only business contacts, but also skills and knowledge.
There are a number of financial assistance...
Business Expansion A business that has been doing well in its current location may decide to taste new waters in an attempt to grow. This can be through establishment of the same business in a different region in a country or even expand to a global scale. Such a decision is made when the business owner who has been successful in a sole proprietorship wants to try out new areas with
Business Expansion FedEx is a corporation offering worldwide delivery services to other corporations, government entities, individuals and anyone who is interested in quick, efficient and safe delivery of documents and other packages throughout the world. As such, FedEx is constantly looking to expand into additional marketplaces and geographies. Understanding the local economies and cultures of the areas of expansion are key to a successful launch and ongoing profitability when servicing the
The differences in culture with the American culture will meant the American staff that may go to help open the branches in China will have to take quite some time to learn the culture and the ways of the people there. The other difficulty will be the language barrier that may exists between the Americans and the Chinese. It may even call for a translator in the initial days as
Online Business Expansion Plan: Hot Dragon Viability of Product or Service Hot Dragon is a company that provides spicy mustard and hot sauces of various types. The company is going to start offering its hot sauces and spicy mustard online, so it can be directly shipped to customers. That will be more convenient for those customers, since they will not need to be concerned with heading out to a store to buy
The original farm was a seasonal operation with periods of no production in the winter months. The ability to dry and produce value-added products will allow the business to smooth its income and realize revenue all year round. The new production facility will change the nature of the business from seasonal to year-round. The business will be able to stockpile product during the busy season and sell it on a
Where, their focus was on streamlining the construction and the permit approval process, by establishing good contacts with local individuals. This would allow KFC to quickly construct a number of different restaurants throughout China. As they would grow, from: just one store in 1987 to opening it 1000th store in 2005. This information is important, because it highlights how the underlying business strategy that KFC would use in China
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