Mondialometer: what other tools to audit your internationalization maturity

Before embarking on an international development project, an essential preliminary step is to accurately and precisely analyze the maturity of your organization to internationalization. To do this, there are, in addition to the globalometer, several tools and indicators to be put in place. Here’s an overview.

 

What is a globalometer?

A globalometer is an indicator that measures the degree of globalization of a country, a territory or a city. It aims to assess the extent to which a state is integrated into the world economy, according to economic, social, cultural and political criteria.

This tool can measure several key indicators, such as:

• Capital flow;
• The volume of international trade;
• The mobility of people;
• The circulation of ideas, trends and technologies;
• Participation in international agreements;
• Engagement in global bodies and organizations;
• …

This system is very useful for companies with a desire to internationalize. It makes it possible to compare countries with each other and their economic potential, and to better understand the environment in which they plan to set up, in order to adapt their offer to the local market.

 

What other tools should you use to audit your internationalization maturity?

While the globalometer is very useful for analysing the socio-economic situation of a country, it does not, on its own, make it possible to assess the maturity of its company in the face of an international development project.

To do this, several complementary tools can be used, including:

1. The diagnosis of the internationalization of your company

Before looking at international markets, it is important to assess, internally, the organization’s ability to operate in foreign markets. This must involve an in-depth diagnosis, aimed at analysing:

• The internationalization strategy : What are the export objectives? What are the challenges related to this project? What are the possible risks and obstacles? What is the final vision? Is this project in line with the The corporate culture ?
  
• Human and financial resources : Do you have multicultural and multilingual teams? Or will it be necessary to mobilize complementary resources, trained in intercultural relations and capable of understanding international environments? Does your cash flow allow you to absorb the costs related to international business?
  
• Organizational structure and governance : Are the practices, operating methods, management tools and processes adapted to an international deployment? And what about the mode of governance?
• The offer and the commercial positioning: is your product or service offer transferable abroad? Is it culturally appropriate for the target audience? Does it comply with local standards?…

2. Interim management for its internationalization maturity audit

This audit can be carried out internally, or with the help of an expert external to the company. In this, Interim management is another tool that is particularly useful for benefiting from the hindsight, expertise and outside perspective of an experienced professional.

With more than 15 years of experience and an international background, the interim manager is indeed experienced in the management of internationalization projects. He intervenes for a defined period of time in order to carry out a strategic audit. It helps you structure your approach through a rigorous and results-oriented methodology, and supports the entire international development project at each stage : adaptation of the offer; change of commercial positioning; training of teams; choice of target market; adaptation of marketing materials; regulatory compliance; management of exchanges with local partners, etc.

Thanks to their managerial qualities, language skills, field expertise, immediate operational excellence and intercultural ease, the interim manager who is an expert in international development is a powerful ally to help you successfully develop your international offer.

3. International SWOT analysis

The SWOT analysis is a valuable marketing tool, aimed at analyzing the strengths, weaknesses, opportunities and threats of the internationalization project and the target market.

It makes it possible to identify:

• Advantages that you have in-house to succeed internationally. For example: notoriety, agility, cultural openness, innovation, creativity, etc.;
• The weak points that could jeopardize the project : dependence on the local market, lack of knowledge of the regulations in force in the country, etc.;
• Opportunities to seize : growth opportunities, consumer trends, etc.
• Possible threats that could slow down your project: local competition, political instability, cultural barriers, etc.

4. The PESTEL analysis at the international level

The PESTEL analysis is a complementary tool to the SWOT analysis, which aims to examine the overall environment of a country or region through 6 aspects:

• Politics : government stability, trade policies, customs regulations;
• Economic : GDP growth, exchange rate, standard of living, labor costs;
• Socio-cultural : consumer behaviour and habits, languages, values, etc.
• Technological : level of innovation, access to digital infrastructure, digital tools available locally, etc.
• Environmental : environmental constraints and ecological requirements…
• Legal : labour law; human rights; intellectual property; data protection…

This analysis is essential to identify risks and opportunities in the country of establishment at all levels, and to anticipate the corrective actions necessary to control these risks.

 

5. International benchmarking

Finally, it may be interesting to carry out an international benchmark, which consists of observing the practices of your competitors who are already established abroad: what are their countries of operation? What is their distribution model? What marketing channels do they use? How have they adapted their offer to foreign markets?

This benchmark is an excellent way to understand the keys to success of companies that have already taken the plunge and to adjust your internationalization strategy according to the lessons learned from these observations.

By combining different tools, you will be able to benefit from a global and exhaustive vision of the real potential of your project and assess your ability to succeed in foreign markets.

However, to save time and ensure a fair and relevant analysis, it is strongly recommended to turn to an interim manager with the necessary hindsight and international expertise to lead such an audit.

 

Are you looking for an interim manager who is an expert in international development? At WAYDEN, we identify and assign an interim manager with a prestigious international background, capable of supporting you at every stage of your expansion project abroad.

 

Contact us to find out more.