Developing an International Business Plan*
Once management has decided to sell its offerings abroad, it is critical to develop an international business plan. The plan helps to develop the broad understanding and consensus needed among top managers on conditions in a given foreign market, as well as company goals, objectives, capabilities, and constraints. The plan should account for important facts and goals, set forth time schedules for implementation, and mark milestones so the degree of venture success can be measured. All personnel involved in the internationalization process should agree to the plan, as they are the ones who will implement it. In this way, the plan helps to motivate key personnel.
Take, for example, an international ...
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