The advent and greater expanse of the Internet and availability of digital communication tools, such as video calling, provides an easier global expansion path for entrepreneurs.
What are some key points for Mayu to consider as part of her international business plans?
Do you agree with her short-term business plan?
Which problem-solving techniques should she use to execute her short-term business plan? Explain your response.
Full Answer Section
- Logistics and Operations: Delivering products or services internationally requires planning for shipping costs, customs regulations, and potential supply chain disruptions. Mayu needs to establish a reliable fulfillment network.
- Payment Processing: Offer secure and familiar payment options for the target market. Researching popular payment gateways and currency conversion strategies is essential.
- Customer Service: Providing excellent customer service is key to building trust and loyalty. Mayu might need to consider offering multilingual support or extended customer service hours depending on the target market.
Short-Term Business Plan:
Without details of Mayu's specific plan, a definitive assessment is difficult. However, there are potential benefits to starting small and testing the international waters:
- Reduced Risk: A low-cost initial approach allows Mayu to validate market demand and refine her strategy before a larger investment.
- Gaining Experience: She can learn about international business challenges and opportunities before scaling up.
- Building Relationships: Focusing on a specific market allows Mayu to build relationships with local partners or distributors who can provide valuable insights.
Problem-Solving Techniques for Execution:
- SWOT Analysis: Analyze Mayu's Strengths, Weaknesses, Opportunities, and Threats to identify potential challenges and areas for improvement.
- Brainstorming & Idea Generation: Explore creative solutions to overcome logistical or operational hurdles. Consider potential partners or resources to fill any gaps in her expertise.
- Pilot Testing: Test a limited version of her product/service in the target market before full-scale launch. Gather feedback and iterate based on learnings.
- Agile Project Management: Adopt a flexible approach that allows Mayu to adapt to changing market conditions or customer feedback.
By carefully considering these factors and implementing appropriate problem-solving techniques, Mayu can increase the chances of success for her international business venture.