Different countries may have their own legal subtleties. For example, certain drugs may be banned in the UK, but allowed in China. And while the conditions for business development in Russia may be clear, in the case of entering the international market, the enterprise will have to come up with either a completely new version of its product or individualize the existing one.
These are the moments that the production and product management departments work out, based on the company's economic policy. All the legal subtleties and regulatory requirements of the countries whose markets the business is trying to enter become part of its development strategy.
Supplier Management
Will the new business need botim database suppliers or will it require courier services to deliver products? Will the goods be sold independently or through existing retail chains? The Economic Development Department is responsible for resolving these issues, as well as assessing the associated costs.
Supplier Management
Negotiations, networking and lobbying
Not all businesses can do without people who have experience in building interpersonal relationships. Some countries are quite tolerant of lobbying the interests of the entrepreneur, this may be the norm for entering the market. Negotiation skills, experience in working with networks, agencies, government and regulatory bodies are also needed. All these things are important conditions for business development.
Cost savings
In developing, an entrepreneur should not only increase their market share and sales volumes. Increasing net profit and reducing costs are no less important. Independent internal work of the enterprise is important here, during which, for example, too high travel costs may be identified. This will entail changes in the company's internal policy regarding travel by transport - management may decide to reduce the number of trips, holding some meetings in a video call format.
Outsourcing non-core operations such as delivery, bookkeeping, etc. can also play a significant role in reducing costs. Such partnerships can significantly change the situation, allowing for significant savings.
Case: VT-metall
Find out how we reduced the cost of attracting an application by 13 times for a metalworking company in Moscow