We will find
out how a large company to
develop an understanding of the
key reasons companies choose
to compete in the
international market.
In addition, we will also knows to learn how and why market conditions vary across the country, whether developing countries like europe, middle east, asia, etc and make crafts industry's international strategy a complex undertaking.
In this chapter will also given to learn about the key strategic choices to enter and compete in foreign markets, as well as how to gain familiarity with the three main strategic approach to international competition.
The last is one where we need to understand how international companies to go to compete with foreign countries and gain a competitive advantage in foreign markets.
In addition, we will also knows to learn how and why market conditions vary across the country, whether developing countries like europe, middle east, asia, etc and make crafts industry's international strategy a complex undertaking.
In this chapter will also given to learn about the key strategic choices to enter and compete in foreign markets, as well as how to gain familiarity with the three main strategic approach to international competition.
The last is one where we need to understand how international companies to go to compete with foreign countries and gain a competitive advantage in foreign markets.
A
company must choose among three alternative approaches for competing
internationally:
(1)
A multidomestic strategy, which is a think-local, act-local approach to
crafting international strategy;
(2)
A global strategy —a think global, act-global approach; and
(3)
A combination think-global, act-local approach, known as a transnational strategy.
A think-local, act local, or multidomestic, strategy is appropriate for
industries or companies that must vary their product offerings and competitive
approaches from country to country in order to accommodate different buyer preferences
and market conditions. The think-global, act-global approach that characterizes
a global strategy works best when there are substantial cost benefits to be gained
from taking a standardized and globally integrated approach and little need for
local responsiveness. A transnational approach (think global, act local) is
called for when there is a high need for local responsiveness as well as substantial
benefits from taking a globally integrated approach. While this is the most challenging
international strategy to implement, it can be used when it is feasible for a
company to employ essentially the same basic competitive strategy in all
markets but still customize its product offering and some aspect of its
operations to fit local market circumstances.
That all, thankyou.
Assalamualaikum.
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