Edward is a young entrepreneur with grand plans, including international expansion of his new company. Once that decision is made, Edward's next step is to

Question

Quizplus · Accepted Answer

Planning a strategy that increases the potential of the firm is the next logical step after deciding on international expansion. This involves analyzing the market, identifying potential challenges, and devising a plan to overcome them. Hiring employees with international experience and attending trade missions may be part of the strategy, but these actions cannot be taken until a comprehensive plan has been developed. Spending time estimating market potential is also important, but it is only one piece of the puzzle and should be done within the context of a larger strategic plan.

Edward Is a Young Entrepreneur with Grand Plans, Including International