RESOURCES INTERNATIONAL LIMITED
The 21st Century brings new challanges to all organizations and their managers. To survive the globalization companies must adapt their mentality to a global perspective or face uncertain future. Management must adapt a global perspective and change traditional ways of thinking and acting. Evolution from domestic to global involves major changes in organizational thinking and activities.
"Remain domestic operation only = more domestic competion from foreign entities entering your domestic market"
"Increased competition = decreased market share and lower incomes/profits"Corporate Canada's prosperity depends more than ever on our ability to both compete and work with companies beyond our borders. Growth depends on increasing export sales and markets. Remaining competitive requires understanding and adapting to a global economy. In doing business” internationally” the US market is not considered as and international market due it similar syle of business relationshipos and business laws.
Canada and the US operate with the same mentality and business practices and although research into the market is necessary it is not as difficult to understand the cultural and social aspects as is in what AltMar considers “international”. As well as unique business laws and practices that are found elsewhere and additionally transportation of goods is not as difficult or are communication services and product standards.
Many firms fail internationally because they entered these markets without an adequate preparation and understanding. They have not researched their competition, consumers, environment or geographic considerations.
The cost of making marketing decisions without sufficient accurate intelligence is always higher than the cost of collecting it. The collection process has to be adjusted for different languages, cultural values and social environments. The analysis of carefully obtained information can reduce the uncertainty and risk involved in entering international markets successfully.
Collecting this data is a difficult task. Although there is an abundance of on yourdomestic locations, reliable foreign data may be scarce. Moreover the accuracy and reliability from foreign countries are often suspect and is dependent on the reporting source. Because of the questionable nature of this foreign data, primary data is required to accurately analyze international markets and verify that information obtained as secondary.
One must not forget also that failure of one company in a market may not be the tool in which to judge the market feasibility. Many companies fail due to the lack of their preparation, staff unfamiliar with operating in a foregin county. There are many reasons for falure and unfortunately these failures or "bad news" are the basis on which a countires market feasibility are judged.
The feasibilty process including the collecton of information is a long and difficult task for one who is unfamiliar with the region. Most usable information is locted in obscure places and not where traditionaly found. Investigations must include the ability to analyize at the time the usefullness of the information, a method of verification and the credibility of its source. One cannot siple send an inexperienced personnel into preparation of a feasibility study and expect accurate results without propoer training, skill experience and contacts.
One of the biggest mistakes is to automatically believe it can transfer its market knowledge from one country to another. Major adaptations of business practices, particularly in marketing must be made to continue. Companies must also be concerned with government regulations used and to restrict foreign business such as quotas, embargoes, duties, exchange controls, and customs and entry procedures.
"Culture is all the learned values behaviours, and other meaningful symbols, including tools, buildings, food, clothing, literature, art, social and superstition learned by a society. Appreciating these differences is a basic requirement for successful international marketing."
AltMar, recognizing the need for business to develop a strong international presence to grow and remain competitive, believes it can play an important role in assisting your business develop its global connections and successes.
As a private firm with a major commitment to international business, AltMar has assisted a number of clients develop their international business in various foreign countries including Kazakhstan, Russia, Turkmenistan, Argentina, Middle East, Egypt, Pakistan, and India.
Through years of exposure to international business, AltMar has acquired the skills and expertise to provide an effective program to introduce you to international opportunities in a relatively short time on a cost effective basis.
AltMar can assist with the business skills and contacts to develop your company’s international exposure with;.
We would be pleased to discuss opportunities, your interests and requrements at your convenience.