Information becomes obsolete over time. For your company to remain competitive, your employees should always be up-to-date on new developments in their areas; continually improving their skills. Simply because the training sessions conducted two or more years ago are most likely outdated and no longer relevant to the current business situation. And considering conversations about the future of work, this is truer now than ever before. A future where the rise of automation and AI will replace existing jobs with newer, less predictable ones will require a workforce that can learn different sets of skills quickly to address skill gaps that may arise.
Traditional business textbooks suggest that it’s logical to build your presence at your home market first, and then expand abroad. There’s less risk, fewer resources needed, less research that needs to be carried out; it’s a “risk-averse” strategy, or in some cases probably a “smart” strategy. In a Clarkson (2015) article on how to start a global business, the Founder of Virgin, Richard Branson, states that “launching your brand overseas will be hugely expensive, and finding distributors and retailers that are willing to take on an unknown brand will be extremely difficult”, so in other words, first start local and build a strong brand presence at home.
But why do some companies go big before they go home? Why did Funzi?