Strategies for Expanding Your Business Overseas

Expanding overseas is a great opportunity for businesses.

• True

• False

Moving overseas can be expensive and a waste of time if done incorrectly.

• True

• False

Robert Solomon is a professor of international management at NYU Law School.

• True

• False

Answer explanation

He is a professor of international management at NYU Stern School of Business.

Robert Solomon is the author of Global Vision: How Companies Can Overcome the Pitfalls of Globalization.

• True

• False

When moving overseas, you know what you don't know.

• True

• False

Answer explanation

When moving overseas, you don't know what you don't know.

Growing overseas provides a sense of accomplishment for small businesses.

• True

• False

Doing research beforehand is not necessary when moving overseas.

• True

• False

Answer explanation

Doing research beforehand is necessary when moving overseas.

Uber had a difficult time in Europe because it did not understand the political and legal differences between European countries and the United States.

• True

• False

Choose the correct summary of the video.

• In this video, Robert Solomon provides tips on how to minimize risks when expanding a business overseas. He emphasizes the importance of researching and understanding the political, economic, and cultural differences of each country in which you want to do business.

• Expanding overseas is easy and provides a great opportunity for small businesses to grow quickly. Researching and understanding the political, economic, and cultural differences of each country is unnecessary and a waste of time. It's better to just jump in and learn as you go.

• In this video, Robert Solomon discusses the importance of understanding the legal requirements of each country in which you want to do business. He emphasizes the need to research and understand the different laws and regulations that apply to your business in each country.