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With so many prospective countries available for expansion, one critical issue for the global entrepreneur is foreign market selection. Thunderbird Professor Robert D. Hisrich, Ph.D., shares a five-step approach to the problem in his new book, "International Entrepreneurship: Starting, Developing, and Managing a Global Venture". Although there are several market selection models available, one good method employs a five-step approach: (1) develop appropriate indicators, (2) collect data and convert into comparable indicators, (3) establish an appropriate weight for each indicator, (4) analyze the data, and (5) select the appropriate market from the market rankings.
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