) (Weiss, 2011).
Bibliography
1. The Sloan Brothers. Taking Your Startup to a Foreign Market. On the Internet at http://www.startupnation.com/business-articles/1471/1/startup-foreign-market.asp. Last retrieved on October 5, 2011
2. Weiss, Darryl. Opening in a Foreign Country; be careful. On the Internet at http://www.globalhrnews.com/story.asp?sid=158. Last retrieved on October 5, 2011
Third student
It is important for management to work on how to set up a business in a foreign country. There are so many options available, each with its own advantages and disadvantages, that management can take into considerations all these before arriving at a reasonable and profitable decision. First of all, the role of the company in the foreign market needs to be defined. According to this role, the company can act as a representative (of another foreign country or even of a local one), as an export company or a distributor (Entrepreneur, 2001).
Another decision to make is whether the company will purchase an existing local operation or will simply open a new company, starting with a green field investment. The latter option will allow the company to start from scratch and build its operations from the very beginning rather than spend time restructuring and reorganizing the existing one.
Finally, setting up a business in a foreign country also depends on the capacity of the company to protect its intellectual property rights in a manner that will also avoid litigations (Wuorio, 2011), since these will likely have a negative impact on the company's operations, including in terms of the higher costs that such processes...
Wuorio, Jeff. 2011. 6 tips for launching a business overseas. On the Internet at http://www.microsoft.com/business/en-us/resources/startups/business-opportunities/6-tips-for-launching-a-business-overseas.aspx?fbid=pY__5kA9uk_. Last retrieved on October 5, 2011
2. How to Start an Import/Export Business. On the Internet at http://www.entrepreneur.com/article/41846. Last retrieved on October 5, 2011
Fourth student
The first thing that the management should do to ensure success when setting up shop in a foreign country is to have a substantial analysis of the market in which it will be present. A substantial analysis of the market will include several different aspects and perspective that will need to be identified, as well as the company's response to these challenges. On one hand, for example, management will need to learn about things such as the size of the market, the purchasing power and the preferences of the consumers. At the same time, management should also keep track of issues such as the competition that is active on the respective market: a high number of competitors will mean that the market may become over saturated too quickly to remain profitable for the company to set up shop there.
At the same time, management should also look at other potential profitable dimensions of opening shop in a foreign country, even if it will not sell on that market. One such profitable dimension could be, for example, the idea of using the cheaper workforce in that country or the proximity to other markets, with larger populations and higher purchasing power for the consumers.
