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The Benefits of International Expansion in Business

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Lesson Transcript
Instructor: Rana Abourizk

Rana has a Masters Degree in Business Administration and is pursuing a Doctorial Degree. She has been teaching online for over a year. She has a strong business background.

Many businesses have found that there are a lot of benefits to expanding globally. Today, we will go over the many benefits and advantages of international expansion.

An International Expansion Success Story

The international expansion of a business is when a business takes the borders of their market outside of the country in which it was originally established. In this lesson, we'll take a look at how international expansion can benefit a business.

Ben developed a recruiting company for information technology jobs in the United States and was doing very well. He noticed many of his recruits came from South America. Ben decided to have some of his employees travel to different locations in South America and open a few branches there. Prior to doing so, the employees spread the news through social media, word of mouth and online advertising. Ben also made sure to check if the locations were well-populated, if the businesses in the area were doing well, and to review any laws for doing business in each of the countries. He did his homework before going international. Five years later, Ben has become a very successful business owner and CEO. He's developed many good relationships with customers, employees, and partners overseas. He's also filled many IT jobs. This has given Ben and his company a good name internationally and back home.

Ben and his team work hard to meet company goals. He appreciates his team's opinions and includes them in every important decision that he makes. His team supported him to expand globally. They helped him do research on the project and even traveled abroad to check the location and talk to the public.

Benefits of Expanding Internationally

There are many benefits of expanding your business internationally, such as:

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