For this assignment, you are part of the executive management team at Allied Sanitation Company that is exploring the possibility of producing, marketing, and distributing their new innovative sanitation product internationally. What information do you need to make a well-informed decision about this potential global initiative? Provide a summary of the steps this team must analyze prior to entering the international market. This summary should be a minimum of 500 words.
Running Head: BUSINESS COMMUNICATIONS1 BUSINESS COMMUNICATIONS3 BUSINESS COMMUNICATIONS Table of Contents What advice would you offer the management team to help them to be successful in managing this new global initiative?3 What soft skills do global managers need to demonstrate in an international environment?3 How important is marketing in a global sales strategy?3 How important are the political, legal, and socioeconomic conditions to ASC?3 References4 What advice would you offer the management team to help them to be successful in managing this new global initiative? To get success in their global initiative the managers need to understand the cultural differences. Their strategies should consider this aspect as what is right for one culture may not be right for another one (Hopkinson, Zils, Hawkins and Roper, 2018). It is advisable to rope local talent for understanding market dynamics as they are acquaint with likes and dislikes of the community. For distributing their product they can enter into partnership with a local company or creating a joint venture, which will help to take advantage of their respective expertise. Entering in to the market and getting access to existing customer base will be beneficial. It will help to face competition with reduced cost and already established infrastructure. What soft skills do global managers need to demonstrate in an international environment? The managers need cross cultural communication skills in order to manage the diverse workforce as it requires sensitivity, respect and diplomatically handling of issues. They should also be tolerant towards cultural differences. They should have emotional intelligence, which indicates self –awareness and control over the emotions (Dean, 2017). They need to possess resilience so that failures and setbacks open new opportunities and not just disheartened approach. Global managers are leaders too because of their adaptive thinking. International business requires dealing with circumstances, which are changing due to political reasons or environmental or technological reasons. Managers need to be flexible and agile at the same time so that changes can be dealt with. It might require change in strategy or approach towards a particular tactic. How important is marketing in a global sales strategy? In global platform business are blurring the physical boundaries and extending their support beyond. They have customers form different part of the world and their presence is not limited to a particular geographical location (Kimball, 2021). With the advent of social media as a marketing tactic it is easy to reach existing and potential customer base. Businesses need to leverage this advantage and need to make sure their digital presence. They have to look for ways by which they can connect their digital customers. Posting videos on YouTube, engaging posts on Facebook and Twitter are ways to bind the audience with the company and its campaigns. This keeps them updated about new products, how to reach company for the product and share their views about it. It also helps the company to make improvements in their strategies and their products. How important are the political, legal, and socioeconomic conditions to ASC? Political, legal and socio-economic conditions are part of PESTEL analysis, which helps a company to take decision of moving ahead with a particular country for its expansion plans. Political conditions: Political conditions define the government, its approach towards new and international business, stability if the government and the way business scenarios are supported. Legal conditions: Various trade laws are important for business because they will define the viability of operations in that particular country. Socio-Economic conditions: It indicates the spending power of consumers, societal and cultural norms prevailing in the region. ASC needs to face these conditions while launching its product in the international market as it is going to impact the revenue generation and success of the product in the foreign market. References Hopkinson, P., Zils, M., Hawkins, P., & Roper, S. (2018). Managing a complex global circular economy business model: opportunities and challenges. California Management Review, 60(3), 71-94. Kimball, C. (2021). 2021's Most Effective Outbound Sales Technique for New Markets. Dean, S. A. (2017). Soft skills needed for the 21st century workforce (Doctoral dissertation, Walden University).