When Expanding into a Foreign Market, Your Outsider Status Is a Competitive Advantage.

Expanding into foreign markets can be challenging for companies due to their outsider status. They often face unfamiliarity with the local business environment and cultural differences, credibility issues in attracting customers and suppliers, and fewer resources compared to local firms. However, research has shown that embracing foreignness can lead to significant growth and success in foreign markets. Approaches such as leveraging outsider exception, building influential associations, and forging strategic alliances have proven effective in gaining a competitive advantage. By acknowledging and leveraging their foreignness, companies can thrive in unfamiliar territories. [Extracted from the article]