Globalization is one of the greatest challenges of our time and international markets play an increasingly important role in our economy. In the management simulation Mastering Global Expansion, the participants face the entrepreneurial challenges of global trade and learn what internationalization is all about. In this article, we have summarized what Mastering Global Expansion has to offer.
What is Mastering Global Expansion?
Step 1: Market selection
In the role of a washing machine manufacturer, each team is assigned to a different domestic region at the start of the simulation and has to adjust itself its company specific background. To do this, the participants have to deal with the following questions:
- What are the strengths and weaknesses of our company due to the domestic region?
- What other markets are interesing for our company?
Step 2: Internationalization and form of market entry
First, the participants operate exclusively in their domestic region. As the simulation progresses, the focus shifts to the internationalization of corporate activity.
- How can the exisiting market barriers be overcome?
- How long in advance do we have to plan market entry?
- Should we set up our own plant and sales or is it better to work with local cooperation partners?
Step 3: Market development
In order to become a successful global player, it is ultimately necessary to come up with a suitable market development strategy and incorporate it in the decisions. In addition to product quality, participants must also work on brand awareness and the corporate image of their company.
- How can we increase our market share sustainably?
- What requirements does the customer place on the product, for example with respect to ecology and technology?
How can Mastering Global Expansion be used?
In Mastering Global Expansion, the teams are active in several markets simultaneously and have to consider a variety of factors while making their decisions. Due to its high level of complexity, this business simulation is particularly suitable experienced participants with solid prior knowledge in the field of international business administration.
We recommend the use of Mastering Global Expansion for advanced bachelor’s and master’s degree courses in business administration and for business engineering courses. The business simulation is also well suited for on-the-job training of executives and young executives from business and administration.
What is the learning content of Mastering Global Expansion?
Mastering Global Expansion adresses extensive learning content from the field of international strategic management:
Would you like to learn more about Mastering Global Expansion? You can download the short description of the business simulation as a PDF here. If you have any questions, we look forward to your email or call!