Many companies in the sharing economy have successfully taken their business to foreign markets as well. What challenges do you see for these companies as they expand into foreign markets?

Some challenges for these companies as they expand into foreign markets are foreign policy, cultural differences and language barriers.

What is an effective internationalization strategy like?

It is one in which organizations develop a plan in line with their needs and the market to which they want to expand their business. For this, it is important to adapt products, services and communication to the local culture, to be a brand accepted by consumers and well positioned in the market.

Therefore, the international expansion of an organization can be positive and profitable when there is a strategy aligned with the needs of the local market.

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mboluwape mboluwape · Answer 2 · 2022-07-20T19:36:46+02:00

The challenges that is seen for these companies as they is Policy from the foreign countries.

What are foreign policies?

They are guidelines made by countries where goods and services are imported from or where business transactions.

The policies may not be in favor on the trader coming from another country this include higher tax and duties been paid.

Therefore, The challenges that is seen for these companies as they is Policy from the foreign countries.

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