In international business, identify and discuss the various steps management must take to establish a successful export strategy

Q. In international business, identify and discuss the various steps management must take to establish a successful export strategy Ans. A successful export strategy in an international business is based on three most important elements, namely quality, expatriate training, and marketing. The first and the foremost essential element of a successful export strategy is the quality of service or product. Quality cannot be ensured without identifying cost-effective means of production. “ To be successful, production must be at world prices” (Aliber and Click, 1993, p. 481). Taking all necessary measures to ensure the achievement of highest quality is critically important not only for the profitability of business, but also for the sanctity and popularity of the indigenous culture.
In spite of the achievement of the highest quality, many businesses fail to operate successfully in an international environment because they are not prepared well to tackle the challenges they would encounter. Such challenges include but are not limited to linguistic barriers and cultural differences. “ companies operate more easily in a country with similar physical and social conditions to those in their home country because they have less adjustment to make there” (Daniels, 1998, p. 25). The process of transition can be made smoother and more efficient by sending company’s trustworthy, hard-working, and efficient employees abroad as expatriates to learn the foreign culture, customs, rules and regulations, and work out ways to establish the business abroad along with creating a positive image of the brand among the public at large.
Finally, the most important step in a successful export strategy is the marketing of the service or product. “ When companies operate internationally they can inadvertently sacrifice the philosophical concepts of their management along with their other assets” (Akintunde, 2008, p. 1). It is critically important to preserve and foster the original philosophical concepts in the marketing campaigns so that the public can sense what benefits this foreign business brings to their land.
References:
Aliber, R. Z., and Click, R. W. (1993). Readings in International Business: A Decision
Approach. MIT Press.
Akintunde, O. A. (2008). The Role of International Business Operations and the Impact of the
Political Environment in Nigeria: A Conceptual Framework Study based on the Banking and Oil Industries. Universal-Publishers.
Daniels, J. (1998). International Business: Environments and Operations. Pearson Education
India.