Financial resources and access to expertise and qualified personnel are key factors in ensuring that the expansion of an organization is successful. Marketing strategies, innovative technologies and effective marketing will also be important. Capital is needed for the purchase of equipment and hiring staff, as well as maintaining business operations. Companies can grow quickly when they have access to experienced personnel. Developing effective marketing strategies helps draw in customers and increase brand recognition which is essential for any business’s success. A variety of innovative technologies may be employed to enhance processes, or create new products and services more quickly.
There are other forces which can act as barriers, such as the competition of existing companies, the need to clear regulatory hurdles before entering new markets/industries, or a lack in customer demand because certain markets have slowed economic growth. If not properly addressed, difficulties in sourcing material or skilled workers can also be a barrier to rapid growth. In addition, a lack of understanding about the global market or cultural differences among countries could lead to misunderstandings that can further complicate attempts towards successful international expansion.