February 22, 2010

Global Business Strategy Number 1: Standardization

Standardization method can enhance your global business profit. In standardization, you can use your standard products to market your business globally. You do not need to put extra effect on your products. You can later on customize the products based on the legalities required by each country where you establish your business.

For example, if you are selling chips, you can sell the same product all over the world, but you can change the packaging. You may customize the language on the package to reflect the country where you are selling the chips. But you must have to consider also the legalities involve for this. Study the legal requirements of the country where you are selling the product.

With standardization, you can expand your business quickly in global market. You can maximize your profits without compromising the cost of business expansion. Standardization approach is recommended for those products that are accepted globally without the need of implementing a lot of customizations.

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