Some Questions Before Entering Into BRIC Countries
Brazil, Russia, India
and China,
the BRIC countries, which the Chinese also calls jinzhuan siguo – four
golden brick nations (金砖四国) –, are challenging the received notion of
globalization (The trillion
dollar club, 2010). BRIC countries are moving fast and growing fast
too. And, yes, there are great opportunities in these fastest and large growing
markets. BRIC countries occupy a key position on the global economy; therefore
companies that are not in some way present in BRIC markets are not considered
as globalized firms. Before entering into
BRIC countries, companies have to consider some very important issues, in order
to avoid a future failure that may be quite costly. Some
questions have to be answered before moving to BRICs...
Some Questions before
Entering into BRIC Countries....
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Do you have enough money to make your venture into BRICs a
success?
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Do you know which of the BRIC countries you will enter first? Why?
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Do you know how the competition in the target BRIC market is?
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How will your product or service add value for the customer in
the target BRIC market?
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How will you distribute and promote the product or service in the
new market?
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Do you understand the legal aspects of the target BRIC market?
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Do you have personnel to handle and support a venture into BRIC?
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If not, how long will take to train the existing or new
personnel?
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Good
Luck on BRIC Countries!
Ligia Maura Costa.
Partner at Ligia Maura
Costa, Advogada, full professor at FGV-EAESP. Author of the book: BRIC. Doing Business in BRIC Countries. Legal Aspects. (2012). v.
1, São Paulo:
Quartier Latin.
Ligia,
ReplyDeleteThank you very much for posting this informative article.
Another crucial skill needed before entering BRICS market or in general emerging markets is the ability to assess and analyze the economic indicators independently.
The economic data released by the national agencies should be taken with a grain of salt!