Strategic Management
The study sheds light on brands and entrepreneurial decisions while taking the brand overseas. Brand expansion strategy can be competent for many brands by introducing international support, customers from multi-diverse backgrounds, opportunities for extending product lines, and also having international suppliers with ample resources required for improving the productivity of the business (Williamson, & Wan, 2018). It can be agreed that expanding business overseas can help organizations to boost brand awareness in foreign markets and enhance brand value by adding credibility.
Mainly entrepreneurs seek opportunities considering infrastructure, locations, financial incentives, quality of life, and local workforce while expanding overseas. It can be agreed that entrepreneurs seek the opportunity by doing extensive market research of the new market and hiring local talents.
The process of expanding products overseas can be treacherous it brings success to many brands by learning a new culture, ear revenue potential, greater access to talents, and diversifying the market and reputation of the company. However, Tien, & Ngoc, (2019), that expansion if not go appropriately can increase the chance of high compliance risks, additional risks in budget overrun, loss of control, and compromised quality and productivity.
References
Tien, N. H., & Ngoc, N. M. (2019). Comparative Analysis of Advantages and Disadvantages of the Modes of Entry the International Market. International journal of advanced research in engineering and management, 5(7), 29-36. https://www.researchgate.net/profile/Nguyen-Tien-32/publication/338719711_Comparative_Analysis_of_Advantages_and_Disadvantages_of_the_Modes_of_Entrying_the_International_Market/links/61a3701407be5f31b7bd6da3/Comparative-Analysis-of-Advantages-and-Disadvantages-of-the-Modes-of-Entrying-the-International-Market.pdf
Williamson, P., & Wan, F. (2018). Emerging market multinationals and the concept of ownership advantages. International Journal of Emerging Markets. https://ueaeprints.uea.ac.uk/id/eprint/67681/1/Accepted_manuscript.pdf
