Going Global
Instructions
Going Global Identify the strategies for entering into the global market. Assess the strengths and limitations of each. Give an example of a company that has made a success of doing business in the global economy. What lessons from McDonalds success in the global marketplace are transferable across industries?
Answer
Global MarketCompanies willing to venture into the international market use different strategies. Some of the common approaches applicable by the multinationals to enter foreign markets include direct exporting, franchising and buying a company. The strategies have advantages and limitations.Strengths and Limitations of the ApproachesDirect ExportingDirect exporting involves the use of foreign agents and salespersons to market and sell the brands. The benefit of the approach is that it requires the little process to conduct business in a foreign country. The limitation of this strategy is that the multinational company will get minimal coverage.FranchisingFranchising is an important method of penetrating the international market, where business contracts food outlets into other markets. Th...
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