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SPECIAL REPORT: SPANISH EXPORTING COMPANIES
of a local partner from the foreign market through joint
ventures is a mechanism that allow companies to reach
farther away –also in the sense of financial earnings- that
when working on their own.
- Which facets should professionals know about each
international market in order to draw up and efficient
strategy?
- Briefly, it is important to analyse the political and social
surroundings. I refer to the field of regulations, law com-
pliance (for example the protection of intellectual pro-
perty), economic stability, labour legislation, etc. Further,
it is important to be conscious of the cultural features
that belong to that country. This goes beyond the lan-
guage, and –depending on the product we talk about- it
can be a key factor. This way, matters such as custom,
tradition, likes and priorities, way of life or beliefs can be
important for sales.
Besides, it is important to consider the competitive su-
rroundings that companies go to: Which companies –local
or foreign- are already positioned in the market? Which
are their advantages? Does the country favour those local
companies or works as a player?
It is also necessary to make a detailed analysis of the
macroeconomic square of each country in which compa-
nies are going to play. Variables such as the increasing
taxes of economics, population, inflation level or exchan-
ge rate stability are also important. Those elements can
highly impact on the final pick of earnings.
Finally, it is necessary to be conscious of which are our
resources and competences, and compare them with the
resources and competences that we are going to need in
order to become international. That is to see if our lacks
can be supplied by a local partner, working with him
through a deal or a joint venture. This formula will allow
us not only to share the risks of becoming international,
but also to acquire competences and skills that we don’t
have, as well as know the new market thanks to our part-
ner and develop ourselves properly in the institutional su-
rroundings.
- Why is it important for companies to participate in
international trade fairs?
- It is important for many reasons. I would stand out the
fact of checking which the competence is doing. Also, in-
ternational trade fair allow us to know possible collabo-
rators or partners. They give us the access to potential
customers, players and suppliers. To sum up, they give as
a more direct visibility in the professional surrounding.
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¿Which challenges do
multinational companies
have to face?
When we ask professor Tanganelli about the main
challenges that companies which work abroad have
to face with, the expert stands out four main as-
pects that professionals should keep in mind:
1.
To make stuffs compatible, such as adap-
ting the products to foreign markets.
2.
To get to productive scale economies.
3.
To learn and internalize new knowledge
about topics which are different abroad.
4.
To assimilate strategically new techno-
logies. In that sense, innovations related
with the 4.0 industry are so important.
In this case, David Tanganelli talks about
matters such as robotics, Internet of
Things, Cloud Computing, Big Data, Aug-
mented reality, Additive Manufacturing,
Simulation Software, etc.
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