Companies have to go global to sustain their competitive advantage and profitability. They have to constantly look out for new markets and customers and cater to their needs in order to sustain their profitability. While entering the new markets, companies should have a strategic plan, which will help them achieve their goals. The article discusses various entry strategies in detail.

Thirai kadal odiyum thiraviam thedu is a well-known Tamil adage. This means "Even cross the seas in search of wealth" or "Cross the seas to make the fortunes". This is what every company is trying to do today. Companies tend to go global for sustaining their competitive position, creating wealth and maximizing shareholder value. As a result of globalization of the economy, going global has become imperative for companies to survive and to succeed.

Meticulous planning and execution are important to succeed in international business. When a domestic company wants to enter an international market, it must carefully select its entry strategy. Wrong entry strategy may sometimes pose threats to the very existence of the company. So entry strategy must be chosen only after a thorough consideration of both situational factors and organizational objectives.

Exporting refers to producing goods and services in one country and selling in another country. It is one of the easiest ways to go global. But companies cannot take this route for granted. As compared to other entry strategies it may be an easier option, but it has its own complexities. Exporting is usually considered to be the first step in the globalization process. The main reason for companies to choose this strategy is that the risks involved in export are less and the investment required is also very low, as compared to other entry strategies.

Going global : Entry strategies , Companies, competitive, profitability, markets, customers, strategic plan, goals, entry strategies ,shareholder value, competitive position, economy, planning, international business, domestic company,international market,organizational objectives, Exporting, Contract Manufacturing, Mergers and Acquisitions .