Globalization is the interaction of people, governments, and companies on a global scale. In business terms, globalization is the process of taking a business global to expand markets beyond national borders. This includes conducting research, developing strategies, planning, internationalization, localization, and translation of products, services, and/or content, as well as quality assessment.
What are best practices for globalization?
Globalization takes place at every management level and across all business departments. It is an organized process for anyone wanting to reach and resonate with international customers. Due to borderless access to information and the increase in economic power of different regions, the demand for language and cultural localization in product and service marketing is critical to successfully entering these emerging markets.
Globalization planning and implementation affect every area of product and service commercialization: HR, legal, taxation, fulfillment, marketing, sales, etc. Taking consideration of local laws, regulations, taxation practices, cultural aspects, and business conduct, requires careful research, strategy, planning, implementation, monitoring, and quality assurance. These efforts will streamline expansion into global markets and provide guidelines for risk mitigation, staffing, HR, and sales practices.
All findings and recommendations from those departments will be taken into account for globalization. And it will be broken down in three essential processes, which are:
Best practices include choosing well-supported source formats that are compatible across software and hardware applications. The same can be said about the use of frameworks, which facilitate the transformation of content, as well as the organization of terminology. Term bases, glossaries, and, if applicable, translation memories, will help maintain translation quality control. If automation for linguistic quality assessment can be implemented, it will be another significant globalization tool.
But things like functionality and the processing of non-translatable content should also be taken into consideration. A decision for different user flows or the transcreation of specific content can turn into a key asset when launching in new markets.
How to implement globalization processes in a business environment?
Product development workflows, design processes, marketing tactics, and launch procedures have changed substantially. So-called agile methodologies have largely replaced long term linear implementation processes. Those linear approaches don’t lend themselves to multiple global planning projects.
Tools like marketing automation software, data mining, and the aforementioned agile development processes have helped automate globalization planning. In addition, buyers have worldwide access to information and there is the expectation that the best products for their requirements should be available, regardless of borders. The business landscape has changed to accommodate this, both politically and economically, though barriers still exist.
Globalization is itself a growing business with consultants, product developers, and translation and localization providers offering support based on real-world experience. These ‘feet on the ground’ experts offer invaluable insights into potential challenges and problem areas.
What are the benefits of globalization?
Globalization renders a product or service viable for international marketplaces. It gives businesses a pathway to entering new global markets for their products and services. Implementing global business processes companywide changes the culture of a business while instantly expanding market potential. And it mitigates risks associated with cultural errors and omissions, legal issues, and the company’s global reputation.
Ultimately, globalization is a must-have business strategy, regardless of the size of the business. Supply chains, marketing information access, and buyers no longer find themselves restricted by borders or cultural barriers. Proactive businesses see themselves as global partners serving global markets. Globalization makes it possible.