Discussion on Going Global
It is the responsibility of a firm to put into consideration different aspects to ensure that it avails its business in different locations. In regard to Kay policies, the entry requirements that will facilitate operations in global markets include;
Partnership is one of the approaches that promote co-working in different firms. Its advantages range from split up of lawful entities, and major aspects that complicate taxes and their rates (Kay 56). License agreement is also vital to enable a business to enhance its operation on global level. This is clear when it facilitates activities that are conducted in foreign states. It accomplishes this by granting a parent firm license to operate. In addition, this form of agreement is vital because it facilitates loyalty. This is clear when it reduces the risk to loss intellectual wealth.
Franchise contract is another policy of business model that is found in category of self-regulated entities. Its positive effect at the market is that it enhances use of revenue and recognition of brands. However, the challenges that face this form of contract are that it is difficult to enhance standards. In addition, joint venture is another strategy that promotes combined efforts. The venture has a positive impact at the global market when it makes it easier for business individuals to reach the market.
The limitations of joint venture are clear when it makes it hard to divide duties. Furthermore, it is difficult to exit trade due to limited options. Coca-Cola is an example of a firm that has managed to expand its business strategies across the globe. The firm manufactures soft drinks and sells them to different locations in the world. To be successful in global markets, it is vital for firms to adapt strategies that will attract plenty of clients.
Kay, David. Going Global – Strategies, Risks and Rewards. Drinker Biddle & Reath LLP, 2013.
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