From Editor's Desk
in Vol. 14 - January Issue - Year 2013
Being A Globally Active Company Can Offer A Variety Of Advantages
As the world's economy continues to become more global in scope, many companies are faced with the decision of whether to expand their businesses to reach international markets. This is not only true for large companies; more and more small and medium-sized organizations benefit by offering their products or services in as many markets as possible. Going global can offer the advantage of reaching a new group of customers. In some instances, expanding globally can become a business necessity just to survive in the new economy.
New markets: Global companies also have access to new markets in new parts of the world. This can be important for a company that is seeking to expand its business, or one that has seen a stagnation of its sales in its home country. A company that is facing stiff competition can open a new operation in a foreign country where there is high demand for its products and services.
Growth areas: Companies that are quick to react to changes in the global market can reap the benefits of the new prosperity. The more nimble and flexible the company is in its operations, the more quickly it can take advantage of the situation.
New ideas: Entering a new market may require the creation of new strategies that benefit the company in the long run. For example, a company will likely have to develop different marketing strategies and techniques that are geared to the culture of the new country. The technique could prove so successful that a variation of it could be used to market products in the home country.
Staying competitive: As a company's competitors expand into global markets, it may also need to follow suit in order to stay competitive. As the world continues to evolve into a global economy, companies who do not follow the trend may find it difficult to survive.
Different markets balance each other: Up's and down's are normal cycles in every economy. However, if a company just depends on one local market, a crisis may as well be the end of it. However, a truly global crisis is unlikely. If countries "a to c" struggle, countries "d to e" may do just fine.
For MFN, this philosophy was a success. While many local print media are trying to survive, MFN, being one of the few international magazines in surface preparation, had its best year ever in 2012. While MFN's education division faced less students in certain areas in the world, others had much higher demand. So, no matter what business one is in, to access other markets may be worth thinking about.
Andrzej Wojtas (Ph.D.), Chief Editor of MFN, E-mail: email@example.com
Author: Andrzej Wojtas