Tapping into New and International Markets

Tapping into New and
International Markets
Part 1

Introduction
 UK is selected as the nation for this analysis as it is recognized that a
large number of small and medium scale organizations pertain to this
national economy.
 This is a prosperous and constantly evolving nation which belongs to
the continent named Europe.
 As per the reports of 2019, it is seen that this nation stands at 6th
position within the largest economies of world in terms of nominal
Gross Domestic Product (GDP).

Global Business Environment
 Global business environment can be defined as the environment
pertaining to sovereign nations, with aspects that are exogenous to
domestic territory of the company, which holds impact over the
decisions associated with capitalising on capabilities and resources.
 This consists of a wide variety of external factors that place a
significant influence on the business operations of entities.

How SME operates
Global business environment consist of numerous of opportunity, so for its
expansion and growth SMEs approach international market,
 By transforming business model, product or go-to-market strategy
using technology development at the level of big companies.
 By acting as a supplier to large MNC's by performing the supportive
role in international trade.

Rationale for SMEs to expand their business
internationally
 There are many reasons behind SMEs aiming to expand in an array of
foreign markets. The foremost reason behind the intent to facilitate
expansion at global level is the increment in volume of sales.
 It is seen that foreign countries are a storehouse of new technologies
and systems. This provides small and medium sized organisations with
the scope to enable savings of cost.

Advantages Of Global Business Environment
 Improve sales:- Performing business operations at global business
environment provide SME's a benefit to approach more customers with
its product or services that support in increasing sale.
 Achieve competitive edge:- By entering into global market it become
easier for SME's to learn competing with competitors which support in
enhancing the performance and at last help in achieving competitive
edge.