Models of International Trade

Models of International Trade
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Models of International Trade
In Colorado business is booming, and especially the tech industry. A lot of economic growth in this locality is being driven by small local and innovative firms such as Mobile Tech and Dobot Inc. Despite this States being a home for many reputable organizations, it is these smaller companies that might work well to dominate the global market. That is only possible with adequate resources and better strategies for going international. Moreover, it is the desire of any manager to go global after building and maintaining a strong local customer base (Twarowska & Kąkol, (2013). Therefore, this paper seeks to provide recommendations for expanding internationally, to such firms.
One, a firm such as Tack Mobile must first ensure that it has adequate resources and personnel to focus on the expansion of the already established business. Ghemawat (2003) admits that trying to reach an international market while also maintaining your local customer base with few resources is tough. For the past years, Tack Mobile has been designing and making software for mobile and computerized devices in various companies. The Company has also started working with different multinationals to expand their operations. They should, therefore, ensure that they have adequate funds and the structural capability to manage the influx of work that characterizes such expansions (Ghemawat, 2003).
Secondly, a small company should also conduct a market research to cut on cost.

In the global market, it is very sure that some countries may prove to provide cheaper labor and raw materials. Andy Zurcher, the president of Dobot Inc, says that their company is aiming at making everyone financially stable. The company has an app that makes it easy for one to save, spend and invest their money. The company is also looking forward to expand but their main challenge is the cost. Through a comprehensive market research, the company can find it very easy to cut on cost and use the surplus to enter other foreign markets. Besides, the firm can be able to trace a pricing combination that favors them in doing business (Buckley, Burton & Mirza, 2016).
Small companies in Colorado that aspire to go international should also find the right partners. When expanding a business, it is critical for the firm to try linking with other partners. A partner can be in the form of a corporation or a mentor, who would be able to lobby and vouch for the company in the states that they are seeking to enter (Cavusgil, Knight, Riesenberger, Rammal & Rose, 2015). For instance, Mobile Tech Company can partner with established multinational enterprises such as Samsung and Techno to help them link and discover new markets.
References
Buckley, P., Burton, F., & Mirza, H. (2016). “The Strategy and Organization of International
Business” (3rd ed., p. 73). Springer Publishers.
Cavusgil, S., Knight, G., Riesenberger, J., Rammal, H., & Rose, E. (2015). “International
Business: The New Realities” (2nd ed., pp. 122). Pearson, Australia: Frenchs Forest, N.S.W.
Ghemawat, P. (2003). “Semi-globalization and international business strategy”. Journal of
International Business Studies, 34(2), 138-152.
Twarowska, K., & Kakol, M. (2013). “International Business Strategy-reasons and forms of
Expansion into foreign markets.” Poland: Maria Curie-Skłodowska University.