As business leaders and global citizens You have a direct influence on the global economy. Your actions, as well as the actions of your colleagues, whether in a boardroom or in the garage influence the future of the economy and businesses globally. There is no field that global business and crossborder entrepreneurship demonstrates this vitality more than global business which encompasses the responsibilities and opportunities of companies that operate beyond national borders.

A global corporation is present in a number of countries through direct sales, joint ventures or subsidiaries and exports to markets outside of its home country. It also adapts products and services to the cultural environment of each market. In addition, it could be aware of laws or policies, as well as practices of different countries that affect its ability to conduct business in that.

A business should also be aware of the economics of every country. This is in addition to the political and legal aspects of business. It is essential to know how to utilize data and metrics to evaluate the country’s economy and its competitiveness as well as potential for growth.

Building trust with local customers is the key to an effective expansion into a new marketplace. It is therefore essential to have an established presence in the local market, such as having an office or store hiring local staff and developing relationships with local suppliers and partners. Companies that have a presence in the local area are more aware of the local culture and business practices. This will allow them to design strategies to reach their audience.