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Companies and International Expansion

            Today's developed technology enables us to live in an advanced world. It creates tremendous opportunities for small and mid-sized companies to compete and flourish globally. Nowadays, more small businesses started to seek worldwide success, for all the priceless benefits that going global brings. According to The U.S. Department of Commerce, 95% of the world's population is resided outside the U.S., and that two-thirds of the world's earnings are located overseas (cited in international sales, 2013). These statistics point out that if a firm is seeking competition and growth, it cannot ignore the opportunities that the international marketplace offers. In fact, the longer the business is out of global markets, the more opportunities and advantages it loses. Three advantages of companies expanding overseas are: having a large talent pool, having a variety of customers, taking advantage of tax incentives.
             Having access to a large talent pool is the first benefit of companies expanding abroad. A large talent pool is having a diversity of talented and skillful workers who are qualified to be a part of the company. In the workplace, employees with different skills are needed so that the maximum potential can be achieved. This potential can be accomplished by having two main factors that diversity of workers make in the company which are: satisfying number of employees, and innovation and talent. Hamburg (2012) stated that the main drivers of economic performance and technological advance are innovation and talent. This means that talent and creativity play a primary role in developing a business and advancing economy. Therefore, a knowledge-based organization requires a talent pool composed of high-quality scientists, engineers, and other competent professionals. Diversity of workers brings more creativity to the company. By having different mentalities from different cultures who can share their experiences in helping develop the company.

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