Going Global by Klohs

“Going Global”

Summary

The article “Going Global” by Klohs discusses several factors related to the international expansion of the business enterprises based in the U.S. Klohs describes how international expansion starts with correct business planning, reviewing business strategies and building business relations. The author mentions information on changing global economy and its importance due to the numerous European countries that are facing debt crisis, in addition the role of economic development organizations.

The article discusses how Right Place, Inc has learned over the years that international business and economic development is not solely about business attraction but it is about building communication and relationships. In the article, it details several aspects of the organization’s formula for international business development.

From initial strategy planning and preparation, to developing business relationships and avoiding “potholes,” the organization’s formula for international economic success was developed through years of listening, executing, and trial-and error. Klohs summarizes by stating, “There is no “cookie-cutter” approach to developing an international business development strategy. However, being true to the community’s assets and building a long-term strategy that fits the community is a recipe for success. Most importantly, international business development is an iterative process. Taking a step-by-step approach to international business is a model for success that can continue to be built upon for decades.” (Klohs, 2012)

My analysis

In my opinion, the article was very thought provoking. When I began to think of the topics we have discussed until this point such as why enter the foreign market, how to enter the foreign market, foreign investment and the European