Internationalization is a long-term process that affect to several aspects of an organization. The main purpose of a company that want to internationalize is to export products or services to other markets or to set a commercial or productive presence overseas, and for this we need a strategy. Internationalization plans are much more than just documents and paperwork. Without them, companies are like sailboats navigating without a map and a compass just being carried away by currents and winds.
An internationalization plan gathers the organization’s capabilities, analysis of the international environment and information about potential target markets.
An internationalization plan comprises 7 main phases
1.- Study of the export capacity of the company and analysis of the firm’s available resources.
2.- Analysis of the international environment.
3.- Analysis of potential target markets.
4.- Study of selected markets.
5.- Select the most adecuate target market entry mode.
6.- Commercial and marketing plan for each market.
7.- Define the action plan.
The internationalization plan is going to be our road map. The path to take in the adventure of internationalization. It will tell us what capabilities we have before starting to act in international markets, what areas show potential and interest in our sector to evaluate, it will define where to go, and how.