Globalization
2
Globalization to Canada
Global expansion can be challenging, yet it may also result in new opportunities and
additional profits. The recommendation to expand should be thoroughly considered and
determined by various factors. One important consideration is whether the target market
demands the company's product or service. In this case, Ferrer Furniture could undertake a
market analysis to determine whether its products are in demand in Canada. They must also
ascertain their competitors' capacity for competing in the Canadian market (Lasserre, 2022). This
involves evaluating the company's resources, brand recognition, and capacity for accommodating
new market demands. Looking forward to exploring global markets is a viable means of boosting
revenues and mitigating risks.
Tariffs, shipping, and advertising are all costs that Ferrer Furniture could take into
account when trying out a new market from the United States. They must assess their financial
resources to see if they have enough capital to support global operations (Lasserre, 2022). Ferrer
Furniture might have to focus on finding outside financial support or investors to ensure its
continued success. It is also critical to consider the target market's legal and regulatory
requirements (Lasserre, 2022). Ferrer Furniture should learn about the laws and regulations that
apply to foreign businesses in Canada, like taxation and labor laws. They must also suggest how
cultural differences affect their operations and consumer relationships.
Ferrer Furniture must consider the expenses of entering a new market, including tariffs,
shipping, and advertising. They could assess their financial resources and determine whether
they have enough capital to support international expansion (Lasserre, 2022). Ferrer Furniture
could be forced to pursue outside funding or investors to endorse their development. It is also
essential to consider the target market's specifications. Ferrer Furniture must research policies
