Problemi Ekonomiki (Nov 2022)
The Strategies for Entering International Markets by Levels of Management
Abstract
Globalization trends of today open and expand the trade-economic interconnections of enterprises over the world. Ukrainian business nowadays owns a small share of the global market. This is primarily due to uncertainty before the unknown market, the requirements of its consumers, foreign legislation, the conditions of certification and standardization, etc. The processes of entering international markets are caused by a number of reasons, among which the most common are: an increase in the volume of sales of goods or the provision of services, an increase in profitability, long-term profitability, an increase in innovation potential, an increase in experience, competition, the presence of government incentives. Generalization of approaches to the process of entering international markets allowed to formulate its planning stages: diagnostics of the enterprise, choice of strategy, choice of international market, search for partners, opening local representative offices, and creating a single information base of the enterprise. These stages are not overloaded with analytical research and calculations and are as close as possible to the practical activities of the enterprise. The article draws attention to the matter that effective functioning in international markets involves scaling up all the processes of the enterprise, and not conducting one-time export-import operations. Therefore, the systemacity of the entry of an enterprise into the international market involves the conduct of strategic analysis and the formation of a strategic plan. Properly planned activities and the chosen strategy of entering or expanding into international markets are the guarantor of mastering new segments and increasing profitability. On the basis of this, the types of strategies for entering international markets by levels of management are systematized, allowing to correctly coordinate and establish the relationship between them and implement the defined strategic goals of the enterprise.
Keywords
