COMPREHENSIVE ALGORITHM FOR FORMING AND IMPLEMENTATION OF THE STRATEGY OF INTERNATIONAL BUSINESS RELOCATION
Abstract
This article examines the intricacies of international business relocation, emphasizing its critical importance in the current era of transformation of the entrepreneurial environment. It is shown that such a solution, which has emerged as a key strategy, is the relocation of business operations across borders to achieve economic benefits and align with long-term corporate goals. Authors provide the comparative analysis of internal versus international business relocation, underscoring the more complex and resource-intensive nature of international moves. Despite these challenges, the article argues that international relocation offers significant benefits, especially in terms of economic growth and long-term business sustainability. The article outlines a comprehensive algorithm for international business relocation, which involves the step-by-step implementation of the 6 key stages, each of which consists of deterministic components, namely: analysis of the current state of the company and its strategy, determination of problems, goals and motivations for relocation, research of possible countries for relocation and selection of countries for relocation, assessment of international activity potential companies, development and implementation of the strategy of international relocation of business, implementation and control of the effectiveness of the implementation of the strategy of international relocation. It is highlighted that the key attention should be paid to the formation and implementation of the strategy of international business relocation itself, which is designed not only to create conditions for the effective implementation of the company’s strategy in international markets, but also to promote a clear and transparent visualization of the entire process. In conclusion, the article posits that while international business relocation is fraught with challenges, it remains a vital strategy for companies seeking to thrive in a globalized economy. The success of such a strategy depends heavily on meticulous planning, strategic foresight, and the ability to adapt to new and often unpredictable environments.
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