How to be competitive when operating in the International Market
International trade is becoming more and more a common practice among companies, but many of them still struggle to put their products in a competitive way in the international market.
The main reason identified is the lack of know how about both the import/export process and the best way to approach the internal market of other countries.
Many companies neglect important activities such as hiring and training professionals to operate in this area, the separation of part of the production to the foreign market, some don´t maintain a consistency in their operations, or even bother to develop relations with trading partners in other countries, because its results are collected in the long run.
3 things we can do to prepare our companies for the international market
1. Understand that the competition is not local but global:
The awareness within the organization that currently our competitors can be located on the other side of the world is critical because it allows it to plan strategic actions in order to gain a competitive advantage.
2. Remember that where there are challenges there are also opportunities:
Whether we like it or not our company is already competing internationally, so why not engage in a proactive way?
By doing strategic planning the company can identify markets in which their products would be most successful, being a good growth opportunity for the organization, another option is finding new suppliers in other countries, being an opportunity to reduce costs or to insert new products in the National Market.
3. Use a Trading to facilitate its international business:
You don´t know the particularities of the import or export processes?
A great alternative is to outsource these processes to companies like SYNTONY TRADE INTERNATIONAL, which takes care of all the operational part, facilitating your transition to the international market.
Foreign trade is very important to the growth of the economy of the countries because it stimulates competition forcing local companies to be constantly improving and innovating, it facilitates the exchange of information and capital, moving the world´s economy.
Through it your company can find many opportunities to innovate and grow.
Wish you all good Business!