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Growth and Internationalization

Growth and Internationalization
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Government and business leaders are worried about the effects of protectionism and trade wars. However, the current uncertain global environment has also generated opportunities for growth. Examples include new manufacturing supply chains involving Vietnam, Africa, Latin America, and other regions. To compete effectively at this new game, companies and territories should adopt an internationalization strategy. For businesses, this means more flexible, regional operational footprints. For governments, it means focusing on five key attributes of growth- enabling economy stability, tourism, services for export, good governance and digital public services.

A new model of market expansion strategy which we call INTERNATIONALIZATION is replacing the globalism of the early 2000s. This model acknowledges that the global business ecosystem now includes many small and medium sized enterprises and ambitious family businesses, often based in emerging markets, linked together by collaborative supply chains and platforms. At the same time, larger companies with established global supply chains have realized that they need to bring their operations closer to the demand they are targeting. The trade tensions of 2019 have heightened awareness of these dynamics and accelerated the business response to them.
Internationalization is paying more attention to regional opportunities, and moving activity to places businesses might not have favored in the past. To be sure, global trade will still thrive, but there will be much more regional concentration. Rather than shipping goods around the world from cheap labor hubs, companies manufacture goods for Asia customers in Asia, for European customers in Central Europe, and for North America. They develop regional footprints, sourcing from more locations.
ADVANTAGES OF INTERNATIONALIZATION

  1. It grants a true independence from the local market business cycles
  2. Permits to access a broader market
  3. Helps to improve a general company’s image
  4. Enhances productive capacity
  5. Diminishes costs by virtue of enhancing productive efficiency
  6. More growth and profitability
This approach opens new opportunities for governments to take a fresh look at the capabilities and strengths of their industries and people, and carve out winning position for themselves as gem of trade and investment.

For businesses, a strategy based on internationalization will mean shifting supply chains to serve new consumer markets with products that are manufactured with regional suppliers, as well as being flexible enough to manage rapid changes in tariffs and other geographical shifts. The winning governments will be those that are open for business, in a way that leads companies to find them and settle into a patter – now and ideally into the future.

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