Jeffery David Whippo Shares His Views on the Quest of Locally Operated Companies to Go Global

1. Jeffery David Whippo Shares His Views on the Quest of Locally Operated Companies to Go Global Jeffery David Whippo who is a well-known business professional with over 20 years of successful experience explains that the fundamental reason for a locally operated company entering the Global Marketplace is to increase potential demand. He explicates that International markets may provide additional opportunities over and above what the domestic market has to offer. Jeffery further says that International markets evolve fast and very often companies struggle to keep up in terms of their strategy. He says that by taking products or services international, a company is replicating their business for another set of circumstances, a different locale and culture, with a different market, demands, needs and expectations. If done correctly, going global could be one of the most profitable moves the company could make. However, if a company does not do their homework, going international could turn out to be a disaster. Jeffery David Whippo says that while companies may decide to go global for a variety of reasons, these different objectives at the time of entry should produce different strategies, performance goals, and even forms of market participation. However, companies often follow a standard market entry and development strategy. The most common is sometimes referred to as the “increasing commitment” method of market development, in which market entry is done via an independent local partner.

2. According to Jeff, as business and confidence grows, a switch to a directly controlled subsidiary often takes place. This internationalization approach results from a desire to build a business in the country/market as quickly as possible and by an initial desire to minimize risk coupled with the need to learn about the country and market from a low base of knowledge. Jeff Whippo shares an example of a successful transition to the international market being Massey-Ferguson. Massey-Ferguson, is a producer of U.S. farm equipment decided that instead of having to compete with U.S. industry giants such as Deere and International Harvester, geared their entire organization to the overseas market. He explains that by focusing on the international space, they outperformed both Deere and International Harvester due to their “localized” focus on the international markets. Whippo shares another example of international success as the Colgate-Palmolive Company who has done incredibly well by concentrating on the overseas markets while their largest competitors in the U.S., Proctor & Gamble and Unilever focused more on the local markets at home.