The Role of Local Insight in the Global Expansion of a Business
When companies start to extend their branches outward to reach new markets, the first thing they are challenged with is evaluating the degree to which their business functions should change. Approaching new markets by blindly applying the same true-and-tested domestic strategies is not always plausible as too many variables in the product-market fit are altered. Changes in the legal, political, and economic environment, and the differences in consumer behavior, cultural…