Once again I would like to discuss, new business tendencies and above all rules I apply with my customers. Some days ago I was watching TV and suddenly I heard this sentence, “Think local and work global “. This sentence could have different meanings; I try to tell you what I’m thinking about.
From my point of view, I think that actually is really important for many companies trying to widen their market abroad. Italy for example has many companies mainly SMEs with a huge knowhow and an innovative product portfolio.
Unfortunately they are able only to move locally, they hire locally, design locally, as a matter of fact they do everything locally. Today new global markets oblige to widen strategies to new international markets. Local markets are getting smaller and smaller.
For this reason entrepreneurs must address new international markets, working global but preparing themselves and think about new strategies locally. Locally we have a huge potential but it must be managed, morphed, adapted and above all customized to make these companies successful.
I’m experiencing different industrial environments and I can say that there is a fundamental problem in those companies.
A lot of managers and executives aren’t able to prepare their staff properly because they don’t think too much about how to face global markets before starting operations. I mean that a lot of preparatory activities are missing: market assessment, products potential or key differentiators, selection of international partners etc, etc…
It seems impossible but is like that!
Again “think local and work global” sounds so important, that I want to stress it again and again.
2012 was a really though year and 2013 at least the first months will be complicated as well.
A lot of SMEs must improve themselves as quick as possible in order to be competitive, managers should “think” how to involve personnel to find the way to increase revenues, towards a continue analysis and improvement of processes.
At the end of the day think that “globalize” business doesn’t always mean externalized activities and production abroad in the so called “chip manpower countries”. My recommendation is to focus on quality and think that coordination and steering must always be local, paying attention to international activities but maintaining control in your Country.
Is a way to assure that your brand, style or recognized services is well protected and supervised.
2 Comments Add yours
Agree to part of what you say. At the same time it is hard to be a master of your home market without the experience a world market provides. If you are not globaly present you will probably miss the key question from the customers when the time comes.
The alternative is to be so local and specialised that there never will be any intrenational interest in your market.
Thank you for your comment. Yes you are right and this is exactly what I’m doing, try to help companies with my international experience in order to make them move globally. I like your last sentence that, as a matter of fact, represent an alternative of the internationalization but, as you said is not so easy, especially if you want to avoid foreigner competitors.
All the best.