Which Approach is Best for Competing Internationally (Essay Sample)
Textbook figure 7.2 depicts the three basic approaches for competing internationally. The textbook describes these three different approaches along with the accompanying concepts and individualized strategies that typify those approaches (see also Table 7.1). In this forum, you need to locate two scholarly (peer-reviewed) journal sources that investigate any one of these international strategies—either using the same company in both articles, or selecting two different companies, one in each article. However, both articles must be associated with the same approach to competing internationally. Tell why the approach used is the best of the three approaches for the company (or companies) involved in international business. Again, you may either use two articles about the same company, or two different companies—just make sure they fall in the same approach to competing internationally. Remember to use only scholarly articles (minimum two). However, three total scholarly sources are required with your post, so you may utilize your textbook as needed to support your informed assertions. (SUGGESTION: As you read about these three international strategies in the textbook, there is mention of companies that use these strategies. You can save yourself the headache of figuring out a company (or companies) to examine by selecting from companies that are already associated with a given strategy as specified in the text.)
Instructions: Your initial post should be at least 250 words, and contain three scholarly citations/references (two from peer-reviewed journals). Make sure that your initial post resembles APA format as much as possible, given the textbox available.
Strategies for Competing Internationally
Companies have three basic strategies for competing internationally to consider as a consequence of reduction of costs, two opposing pressures and local adaptation. The three strategies are; (1) Multidomestic strategy, (2) Global Strategy and (3) Transnational Strategy. Each of the three strategies has advantages and disadvantages (Czinkota & Ronkainen, 2010). The best strategy that appropriate for a company to compete internationally depends on the company's pressure to adapt to the local markets and its need to achieve cost reductions as demonstrated in the figure 1 below.
Figure 1: Showing Three approaches of Competing Internationally.
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