Global expansion is not primarily the most excellent way to grow a company. The American market is quite large for most organizations to develop almost ad infinitum. However, entering the global field has the possibility of safeguarding against the risk of decline in domestic markets as well as extensively improving the company’s overall expansion potential. Posh Palace is a local coffee shop located in California. It is a serene and environment-friendly spot where people can have their formal or informal meetings as well as enjoy the locally brewed variety of coffee. Posh Palace started in Sacramento California and now has 24 locations all over the country and is looking to expand globally. At Posh Palace we aim to provide our consumers with a homely taste of our locally grown products. It allows each store to be unique and different from each other. For Posh Palace to be successful in this venture will need to gain a deep understanding of its competitors, targeted markets, current local trends, and the governmental policies trends of the locations they wish to expand to.
The best approach to use is to develop a business strategy plan. Since each market has its challenges because of the market, economic, governmental, and cultural situations. It is vital to create a company strategy that drives domestic success as well as continues being integrated with the overall corporate objectives and strategy. Secondly, the com…
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