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Business Alliances as a Growth Strategy When two companies align themselves, their synergistic strengths seem more apparent, their individual weaknesses somehow less noticeable. Joining forces with another business can give your company deeper pockets and greater access to new technologies. It can also increase brand awareness, enlarge your customer base, and enhance your product or service offering. How to Expand Your Business Globally Today's global market demands global action, yet, according to the U.S. Department of Commerce (DOC), fewer than 10 percent of American manufacturing and service companies are involved in international trade. However, like it or not, you're probably already competing globally - foreign-owned companies are competing with you in your "domestic" markets. You can turn global competition to your advantage by tapping markets and labor supplies across international borders yourself - a process that is simpler than you may believe. How to Enter an Emerging Foreign Market Do you want to tap into a foreign emerging market, but don't know where to start? Small and medium-sized companies generally do not have the resources they need to successfully work emerging markets on their own. But there is a lot of information out there that companies can draw on, including government agencies, university centers, and private firms. With some key tools and good planning, you can develop the foundation you need to safely export to an emerging market. Expand With New Market Development This article will provide a road map for the expansion process. It will help you sort through your options when looking at expansion and set realistic targets for growth. Use this tool to research possible market opportunities, develop your expansion plan, and initiate action. By following the steps outlined here, your business will have a better chance of succeeding in a new market. Develop New Products and Services This article will help you evaluate potential new products for their viability, plan their development, and test and market your new product or service with new and existing customers. |