The Business Expansion - Essay Example

BUSINESS EXPANSION Business expansion Any operating business, whether domestic or international, will requireinvestors for its expansion. The success of the company is note solely on its capital span, but its success it’s determined by a number of factors. Such factors range from the business operators, who include the workers and all the management staff, the shareholders, market trend and external forces. The decisions made by the management staff will have the major impact on the prosperity of the business. For instance, the CEO has a lot of impact, more so through their decisions and attraction of potential clients to add on investment of the company (Expansion management, 1980). Attraction of potential investors can be achieved through several ways. Advertisement of the successful progress of the company through an open media may work out the plan. The company may also opt to send out leveraging expatriates to the nations with the potential investors. Sending of expatriates means the posting of competent personnel to those nations with potential investors. These business experts will create awareness to the particular nation on the benefits of them becoming clients of such a company. Direct interaction with the clients will enable clarity of many issues that the clients may not be aware. It will also build confidence and assurance of returns from the company upon investment (Keillor, B. D., & Wilkinson, T. J. 2011). Sending expertise to other nations is very beneficial. However, it can be faced with a stream of challenges that may inter it from working out effectively. This will involve sending out employees to work outside their home nation. The organizations will incur tremendous cost to support expatriate assignments, which are challenging for the employees also. Being in a new environment, the send expatriates will face cultural or religious differences, language barrier and even racial segregation. The information they have being send to launch may be taken negatively by the targeted nation, thus making the operation fruitless (Expansion management. (1980). The domestic companies operating in the same business field with the company being launched may also run a campaign against the leveraging of the expatriates in their nation. This will be targeted towards the prevention of competition that may arise, or the withdrawals which may be experienced within the clients, from their domestic companies to invest in the new external company upon successful launching. However, upon successful launching, the leveraging of expatriateswill establish a great step towards the success of the company. Leveraging of expatriates will create attention to the other nations, and create a zeal and anxiety to invest in the particular business. This will also create trust to the clients and withdraw any fear of loss upon investment or existing fraud doubts. Successful leveraging of expatriates will attract investors and more clients, leading to the expansion of the company. Future returns will cater for the expenses incurred during the leveraging of expatriates. Leveraging of expatriates will generate a report that will be very beneficial to the company. At first, the clients’ response will enable the company to establish the future plan and the expected investment trend. Leveraging of expatriates will attract more clients, leading to increase in capital and income in general. It will also create a good business relation among the involved nations attracting more investors in future. Leveraging of expatriates will depend on a number of factors. A particular company will consider many factors before launching the leveraging. The distance between nations will determine whether the leveraging will be done in the particular nation or not. Countries that are far apart will not manage the leveraging of expatriate. Obviously, close nations will be in a position to become business partners, where else nations far apart in different continents may not be in a position to become business partners. Financing of leveraging of expatriates will be tremendously expensive on nations that are globally apart, while launching the same on close or bordering nations will be less costly. The cultural diversity will also determine the extent of leveraging of expatriates. Some countries share similar culture and common religious practices. Such nations are likely to partner with each other for business and enable the leveraging of expatriates. Other nations have diverse cultural differences, while others do not appreciate or entertain the culture of other nations. A company will do leveraging of expatriates within nations that share same culture, or have linkage in cultural practices. Some companies offer items that are culture or religion related. These countries will probably do leveraging of expatriates in the nations that entertain or practice that culture. This is particularly where they are capable of getting potential clients for either investment, or even potential customers for the market of the end products. As the CEO of my particular company, the countries within which I will expand my company at will also be determined bytheir knowledge level. The knowledge levels should be slightly similar or closely related. Leveraging of expatriates on a nation with high level of education than your nation might make your plan seem outdated. Doing leveraging of expatriates on a nation with low level of education will attract little or no investors. Before launching leveraging of expatriates, I would also consider the languages spoken in the related nations. Countries speaking similar language will facilitate the leveraging of expatriates, making it easy for the personnel on the ground to clarify all the issues concerning the industry with no challenges of language barrier. Such nations will fell like somehow related and linked by the similarity in the languages they use, hence will attract more clients and even motivate others to add on the expansion of the company (McEntee, 1994). When selecting the people to send to the field for leveraging of expatriates, I would consider and give a priority to those with relatives in such nations. This is because they will be confortable and feel at home when running the leveraging of expatriates. Their relatives will also be an added advantage in convincing the clients; hence will also be playing a role in the expansion of the company. I would do the expansion on countries that have similar culture with my nation, and those whose knowledge is slightly similar to that of my nation. This is because it will be easy to launch the expansion process and get potential clients easily from such nations. The selection of the kind of employees to send to other nations for the expansion process should be done selectively. As the CEO of my company, I would use particular criteriato select the kind of employees to send abroad. I would first consider the knowledge, skill and competence of the employee. This will include communication skills and public relations. Competent employees will run the leveraging process successfully out of competence and knowledge. The competence and skills of the employee will enable them to convince the potential clients. I would also consider the language of the other nation, and send an employee who is competent with the knowledge of such a nation. This will prevent language barrier and enhance the employer to convince the clients. The employee, competent in the business language will be an added advantage to convince the customers. In order to convince the employees to become expatriates, I would use various ways of motivation. I would first educate them to ensure that they have the right skills and knowledge to undertake the expatriate’s process. These trainings will cater for business language, communication and public relations. I would also use other motivational means like allowance and good wages which will cater for their financial expenses on the field, hence making them to undertake the leveraging process successfully (McEntee, 1994). As the CEO and the manager of the whole operation, I would also ensure that executive Committee and the Board of Directors are committed to the expansions process. This will be through close monitoring of the expansion process. The whole process will be monitored from the training stage, launching and even follow up of the operation at the field. I would send trained personnel to make a follow up of how the whole is being undertaken (McEntee, 1994). Before going to the field, the selected employees should take with them various materials. Some of these materials will involve books. One of the main books one should take with is the direction guidebook. This will assist them to know exactly the place they are going and prevent cases of getting lost. The direction guidebook may also assist them to locate important facilities such as medical services, transport links; airports and roads, and available accommodation. Healthy guidebook will be important for the person travelling abroad as an employee. Such a book will enable this person to know the kind of diseases they are likely to face, their control or prevention measures. The health guidebook will also clarify to the employee on the medical facilities available in their new areas of stay. This will ensure good health for them, and hence enable them to undertake their business duties with no difficulties (Hill, 1958). As the CEO of my company, it would be my responsibility to advice the person travelling to our newly expanded business firm for work. They should pack their personal effects, clothes, catering for the weather conditions of the place they are going to reside. Being a business mission, I would provide for their transport to the new country, and provide the appropriate means of transport to operate with during the working sessions. The employees will use the company cars during their work in the new country. However, one may ship his car or purchase another in the new nation for personal missions like family tours. In this duration of 1-2 years out of the home country, I would advise them to sell their furniture and assets, or leave them to trusted persons like relatives and friends. In their country of work, accommodation will be catered for, including necessary accompaniments like furniture, entertainment assets and even food. This will be in favor of their family members, covering only wife and two children. Pets should not be carried expect upon consultation with the new country. The expansion of the business to the new nation will be upon a serious study and identification of a potential market and foreseeable income. The expansion will be met upon a serious study to that particular nation. The business expansion process will be costly since it may even require rental or building of business premises in the new nation. This expansion will meet its success upon serious study and analysis on the expenses and foreseeable returns in order to prevent cases of loss, which may even lead to collapse of the domestic company (Atkinson, 2014). References Keillor, B. D., & Wilkinson, T. J. (2011).International business in the 21st century. Santa Barbara, Calif: Praeger. Expansion management. (1980). Boulder, CO: New Hope Communications. McEntee, A. (1994). Expanding horizons in business education. Reston, Va: National Business Education Association. In Atkinson, S. (2014).The business book. Choi, T.-M., &InfoSci-Books. (2011). Fashion Supply Chain Management: Industry and Business Analysis. usiness Science Reference [Imprint. Hill, R. M. (1958). Improving the competitive position of the independent wholesaler. Urbana, Ill. Taylor, A. S., James, K. S., &Murry, A. S. (January 01, 2012). Leveraging Workforce Diversity using a Multidimensional Approach. Zaballero, A. G., & Kim, Y. G. (January 01, 2012). Theoretical Frameworks and Models Supporting the Practice of Leveraging Workforce Diversity. Read More