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You are here: Step 5: Confirming management's commitment to exports  
Confirming management's commitment to exports

Having set your broad mission statement and outlined the interim budget that you require to evaluate and research export markets in order to prepare an export marketing plan, the next step is to obtain management's approval of this vision and budget and for them to commit to the idea of exporting.

Lack of management commitment is the main reason for failure in exports

One of the major reasons why companies fail in exports is because the firm's management only pay lip service to exports. For this reason it is essential that your export plan includes a statement (perhaps in the form of a memorandum) from the CEO or MD of the company committing the firm's management team to these objectives. This statement need not be very long and would indicate:

  1. Why the company should be exporting (e.g. in order to expand sales given the limits of the local market or perhaps in order to become more internationally competitive, or even both)
  2. That management are committed to exports. In this statement, management should confirm the need to export and then indicate in a formal statement their support for the firm's export endeavours.
  3. In this memorandum, management would also approve the budget that was specified under step 4 (or some other amount) and indicate in broad terms what the money is to be spent on.

This memorandum could serve as a preface to the export marketing plan. If this statement is not forthcoming, then the firm should consider dropping its export activities!

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Learning to export... The export process in 21 easy steps
Step 1: Considering exporting
Step 2:Current business viability
Step 3:Export readiness
Step 4:Broad mission statement and initial budget
Step 5:Confirming management's commitment to exports
Step 6: Undertaking an initial SWOT analysis of the firm
Step 7:Selecting and researching potential countries abroad
Step 8: Preparing and implementing your export plan
Step 9: Obtaining financing for your exports
Step 10: Managing your export risk
Step 11: Promoting the firm and its products abroad
Step 12: Negotiating and quoting in exports
Step 13: Revising your export costings and price
Step 14: Obtaining the export order
Step 15: Producing the goods
Step 16: Handling the export logistics
Step 17: Export documentation
Step 18: Providing follow-up support
Step 19: Getting paid
Step 20: Reviewing and improving the export process
Step 21: Export Management
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