Each will be tied to different tactical objectives and timeframes. The effectiveness of the process will be measured in terms of adherence to time frames, cost and key market variables such as penetration and market share. Each variable should be quantitative to facilitate ease of measurement and evaluation.
A wide variety of legal issues will need to be considered. Doing business is foreign countries creates significant exposure to risk, in that the foreign legal environment can be substantially different from the domestic one. The nature and intensity of these differences will be considered. Also, it will be considered if there are any legal or ethical considerations domestically as a result of overseas expansion. To use an extreme example, setting up a factory in Cuba would create a host of legal and ethical concerns that would need to be accounted for in the option evaluation process. It will be critical to hire local legal experts to help sort out the myriad of potential issues. Issues that could affect the decision-making process include trade agreements, labor standards, tariff systems, administrative and technical barriers and the general robustness of the legal system (FAO, 2000).
With respect to ethics, a code of ethics must be drafted to avoid conflict between local and domestic ethical mores (Mitchell & Curry, 2003).
Conclusion
Able Corporation is at the precipice of a new strategic direction. Such moves cannot be taken lightly. It is imperative that all aspects of strategic planning...
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