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40 Wall Street

With this new section, “40 Wall Street”, Benvenuta Italia begin a course dedicated to the Italian production system. It will do so by listening to the “belly” of international business: Wall Street.  Luigi Rosabianca lawyer in Wall Street and John Pellerito International Strategist and Founder and Editor of this magazine, will take care of this section that will cover topics useful to Italian companies and the entire made in Italy production system, from time to time, and will do it with research and insights interviews with managers, opinion leaders and opinion makers.  The first appointment begins with a topical subject such as that of internationalization. By studying the data published by the Mystery of Economic Development, Italy is the country in Europe with the highest number of small and medium-sized enterprises: there were 4.4 million and accounted for approximately 99.4 % of the Italian production system.  SMEs make up 99.5 % of Italian companies exporting abroad, contributing as much as 66.8% to the total volume of our sales outside the national territory. They employ over 3.1 million people. Italy, in recent years, has changed hands several times skin, has undergone profound changes, has tried to adapt to the new international dynamics. Italian SMEs have realized the importance of the product quality and have realized that the frantic search for the pricing, was not the right way! More quality than quantity, they have bet and are increasingly focusing on that famous “factor I” or Made in Italy at the global level we are recognized as INIMITABLE!  But the current representation of globalization, which sees more and more competitive scenarios, requires a strategic and courageous decision: to focus on investment in knowledge, new patents and new technologies. The whole world recognizes to the Italian companies a “natural vocation” in making internationalization, not surprisingly we are the children of Columbus! However, to seize the opportunities offered by new markets, we need skills and strategies, vision and knowledge, which is essential to survive in the hyper-competitive markets such as those of today. According to the feedback of Unioncamere, in fact, many more Italian companies could take the road of internationalization; rocky road full of pitfalls to deal only with the spirit of adventure. And Italian companies know that, they also know that today more than a possibility it is a necessity, but if not addressed as a policy it can backfire. But what is it that scares most companies in this process of internationalization? First of all the concern to address in mature markets like the United States and throughout North America or the Far East, without a legal and brand management or International strategy guide, that will ensure the preservation of the business and reputation of the company. Companies are aware of this, so much so that a recent survey found that almost 7 out of 10 companies in the Northeast do not have enough knowledge to adequately address the international market. When asked if their company is in possession of all the knowledge to tackle the cross-border business, 66 % of surveyed managers responded in the negative, arguing at the same time the need for more training in the field of internationalization. Despite 84% of the sample companies, mostly small and medium enterprises, are already present in foreign markets.  In short, companies know that selling is not the only company mission, they must treat the cultural aspect, because knowing the context of the country where you go to work, you can find targeted partners, build lasting and profitable relationships and manage effectively various tasks, starting from those related to the legal and communication aspects. Today more than ever it is essential to organize the mission of internationalization according to the needs of the area identified to market  own products or to create partnerships or to be known by investors. Companies using this approach to internationalization phase, are those that record the best of success and growing continuously both in market penetration and in profits. Be accompanied by an experts team working both in the legal and marketing sphere and international strategy determines the success for the entry into markets where it’s almost never allowed to make mistakes. Being accompanied by a team of experts working both in the legal sphere and in the sphere of marketing and international strategy determines the success to address markets where it is almost never allowed to make mistakes. First, globalization is selection and competence, and only those who are aware of these important preconditions and equip themselves accordingly, have the ability to find the many opportunities that today’s world of business offers.

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