The Process of Expanding the Business into a New Region or Country

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The Process of Expanding the Business into a New Region or Country

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The Process of Expanding the Business into a New Region or Country

Business expansion process is often surrounded by financial and managerial challenges. The two challenges make growing a business to dominate several regions a very complex affair to most business persons. On most occasions, managerial hurdle is the worse of the challenges because once a business has grown beyond a region; it requires systems of management other than an individual to manage it (Rubinfeld & Hemingway, 2009). At that point, the board of directors and a team of experts from different business fields are needed. On the other hand, all of the expansion process requires finance.

The foremost step in business expansion is having an idea of the region to expand to and the products or services the business will offer in the new region. Coming up with such a decision requires the help of experts from different fields of business such as market surveyors, business designers, marketers, managers, and accountants (Boroian & Callaway, 2008). Therefore, the first most important thing to do before rolling out a business expansion idea is to constitute a team of experts. After that, it is worth noting that the business will be growing beyond an individual control, therefore, will require systems to operate. At this point, the board of directors should be introduced, which constitute members who can also be partners in the business by assisting in overcoming financial hurdles. When all this is done accordingly, and the team of experts is assign tasks related to their areas of expertise, it is the responsibility of the market surveyors to find the best region for the business to expand to and the types of products and services is to offer there.

After business surveyors have accomplished their tasks, business designers take the mantle of designing the business’ overall outlook in order to make it attractive to customers and outdo competitors. After they have performed their task, they leave the nex.............

Type: Essay || Words: 704 Rating || Excellent

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