How to Manage a Business Abroad
In this era of globalization, a growing number of managers are no longer running businesses in their hometowns. To become a successful businessperson and maximize earning potential, many managers are taking advantage of the global market and managing businesses abroad in foreign countries. Though good managing skills can carry over to learning how to manage a business abroad, there are a few steps to take to ensure the most effective management abroad by taking into consideration local laws and customs.
- Difficulty:
- Moderate
Instructions
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Contact the U.S Department of Commerce. Before leaving for a foreign country, the U.S Department of Congress can offer valuable information about doing business abroad, covering such topics as taxes, currency exchanges, and hiring overseas agents. Visit the U.S. Department of Congress website or call the department at 202-482-2000.
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Obtain the required visa and work permits. There are several different visas and work permits, and requirements vary from country to country. To make sure you are applying for the right visa and work permit for your business, contact the department that deals with foreign affairs in the country you are visiting.
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Visit the country you intend to do business in. Before going over for business, it helps to visit the country and become familiarized with the location. While in the country, you can check out local competition, familiarize yourself with the location, and practice the language. This can help from becoming overwhelmed and disoriented the first few weeks of conducting business, and greatly facilitate the start of the management process.
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Find an overseas agent. A good overseas agent will have long standing relationships with local business owners and be able to help you contact potential customers and employees. Overseas agents are invaluable in that they can act as intermediaries between customers and the foreign manager and are often trusted members of the community.
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Learn local customs and work habits. It's important to fit in with locals to facilitate good relationships and avoid miscommunication. Local employees have a greater chance of respecting a manager who takes an effort to learn local customs instead of enforcing habits from the home country. Ask employees and other locals for advice, conduct research by going to the U.S embassy or finding books about that particular country, and pay attention to the habits of people with whom you interact on a daily basis.
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Keep in contact with the business at home. It can be difficult to keep in contact with the business back in the home country because of differences in schedules and time zones. However, making an effort to keep in contact will let you know the current status of the company and be able to coordinate changes effectively. If it's impossible to schedule phone calls, consider Skype, chat programs such as Gmail Chat or Windows Live Messenger, or email to keep in contact.
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