What Latin America's Companies must consider before going global?

To go global and expand operation overseas is an increasing trend among Latin America's business but they must consider:

1) Be sure you have a competitive edge that you will keep when going global. Sometimes, being the leader in a region doesn't necessarily mean you will remain competitive or successful when going global.
2) Make a throughout feasibility analysis and investigate the resources you will need: investments, production capabilities, logistics, etc. Are they available to support your global expansion?
3) Identify those markets that represent a closer match to your current ones first. Leave the others for a second step.
4) Study those markets in-depth and I mean in-depth.
5) Find local advisory/employees/partners that understand the culture and ways to do business in that market. Give close attention to their input.
6) Be ready to adequate your process to that market. In example, the traditional way to export products within Latin America don't work well when targeting the U.S. market neither the American approach to Federal Contracting works well in China.
7) Most companies in Latin America don't have a "global culture" so be sure that you prepare your inner organization to face the world globally.

The Monority Influence in the United States

I came across the folowing question:

America in 2012 - Opportunities and Challenges as a Result of Multiculturalism. Your opinion?

Multicultural USA in 2012. I was wondering if anyone ever pictured the USA in five years? Looking at the growth of the Hispanic and Asian population in the USA, I must admit that the country will become a major multicultural mix in five years with a redefined position on world affairs, shifted ideology and different business climate. How would it change the way we live, work and interact with each other and the world? Posted by Yuriy Boykiv on Linkedin.com

My answer:

While I agree that the multicultural picture of the United States is changing dramatically due to the increasing numbers and influence of certain minorities, specially Hispanics, I don't think you'll see traumatic changes or a deep impact within the next 5 years. Basically, because I don't share your opinion that those majorities will be able to affect the country's definition/position on world affairs. While increasingly important, the non-traditional minorities are still starting to gain public and political spaces and their economic impact or control of power is far distant from that in the hands of the majority.

The diversity among and inside those minority groups is probably one of the main obstacles for they to reach a unified stance. Without a common front, their influence and power will continue to develop slowly and they will require even larger numbers to make a significant difference.

From an economic point of view, they already reached a purchase power attractive enough to get a place among corporate strategies and increasing budgets to target them.

I would probably think in U.S. 2025 or 2050 as milestones where a significant change in the social structure of America may be witnessed. But the main issues in multiculturalism by 2025 or 2050 won't come from the United States but the consolidated -but this time- position of China and India.

Thank you for the theme. it's certainly a nice issue for debate.

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Hernan:
Great post. Thanks for the comment as I share your view on a long term effect of multiculturalism. However, I still think we will see certain changes within the next five years. Many specialists believe that the new elections will heavily depend on the Hispanic and Black voters that constitute about a quarter of the US population. By 2050 Latinos will be a dominant force in the US culture, politics and business. According to the US Census, there will be 103 million US Latinos in 2050 and the purchasing power will rise to over 10 trillion USD (currency value of 2007). I think this is major! Additionally, as Luba mentioned, a lot of new immigrants prefer a collective society, thus there will be some shift in cultural values as well.
Best,
YB